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Northern Trust late bidder for Insight, say reports

Northern Trust has made a late bid to buy the majority of the Insight business, according to reports.

Reports say both Northern Trust and Bank of New York Mellon, which has been previously touted as a possible suitor, have entered binding bids for the Lloyds-owned asset management business.

A sale of the business, valued between £230m and £250m is expected within weeks, according to reports.

Private equity firm Hellman & Friedman and Schroders are also said in reports to have tabled offers for the company.



Bell slams FSA over drawdown statement

AJ Bell has hit out at the FSA for suggesting income drawdown is inappropriate for people with pension pots under £100,000.In a note outlining the public censure recently handed to Cheshire Life & Pensions, the regulator stated: “It is generally accepted that income drawdown can become increasingly unsuitable if the customer has a pot of […]

FSSC developing shared units

The Financial Services Skills Council is likely to develop shared units forcing award- ing bodies to use identical content in core modules as part of the RDR’s QCF level four qualification.Director of skills development Sarah Thwaites says the Qualifications and Curriculum Development Agency, which owns the QCF framework, is developing a system of shared units. […]

Lloyds starts compensation payouts to Lehman clients

Lloyds Private Banking has begun compensating clients who lost out after it advised them to invest in structured products backed by Lehman Brothers. Money Marketing has learnt that some clients are being repaid their initial capital, interest and adviser fees. An early day motion by Conservative MP Ed Vaizey highlighting the plight of over 6,000 […]


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