View more on these topics

NPI for sale as AMP plans a fresh start in UK as Henderson

Australian financial services giant AMP is demerging its UK operation

and is looking to sell the NPI and Ample arms.

The firm hopes the move to separate its Australian and UK operations

will give it a “fresh start” after lacklustre results following its

entry into the UK market.

The move will see AMP&#39s UK business, consisting of fund firm

Henderson Global Investors, IFA Towry Law and the now closed

businesses of Pearl and London Life, fall under the new UK umbrella

which will be branded Henderson.

Pension specialist NPI and fund supermarket Ample could be cut loose.

As part of the restructuring, the group is also aiming to reduce its

equity holdings within its UK investment portfolios supporting its

with-profits funds.

AMP says the move will create a more stable asset base for the new

UK-based company, which will release significant amounts of capital

over the medium to long term.

Henderson will be chaired by current AMP director Pat Handley with

current AMP director and Henderson managing dir-ector Roger Yates as

chief executive. The Australian-based business will retain the AMP

name and the company will be chaired by Peter Willcox, with Andrew

Mohl as CEO.

Shareholders will hold shares in both companies which will be listed

on the Australian stock exchange, with the possibility of Henderson

listing on the London Stock Exchange in the future.

Mohl says the move is the best outcome for all involved and, until

the proposal is put to shareholders and the demerger complete, it

would still be managed as one company.

Hargreaves Lansdown pensions research man-ager Tom McPhail says:

“AMP appears to be happy to run its UK business as a unit-linked

operation and to let the with-profits business wither on the vine.”

•Comment, p29


New directors for CCP

Two Lamensdorf senior managers have left the IFA company to joinCombined Capital Partners, part of the Issuance Management Company.Former director Tony Wright-Jones has been with the firm for 12 yearsand Rod Rippin seven years. The pair will become CCP directors andco-ordinate the firm&#39s plans to generate new IFA revenue streamsthrough their own range of products.The […]

MM top for headline news

Money Marketing has won two major awa-rds at the awards by taking the trade media team of the yearand the trade media journalist of the year titles.The awards, held at the Grosvenor House Hotel, London, were run byHeadline, an online resource for personal financejournalists and PRs, in partnership with Barclays.A judging panel of […]

First-time buyers a rare species

The number of first-time home buyers is plummeting and set to hit arecord low this year, according to research from Nationwide.It says that if the current trend continues, the number entering themarket will drop to 400,000, falling below its lowest-ever level of1995 when the total was 435,000.Its monthly house price report found activity in the […]

DWP project to set up OPP safety net

The Department for Work and Pensions is working with senior actuarieson a project to set up a central insurance safety net foroccupational pensions schemes, Money Marketing has learned.A number of high-profile actuaries have refused to comment on asecret DWP meeting held last week which is believed to have examinedthe cost of a scheme that would […]


Britain's “Forgotten Army”: The collapse in self-employed pension membership – and what to do about it

Pension scheme membership among employees has risen by more than five million in the past four years because of the policy of automatic enrolment into workplace pensions. But Britain’s army of 4.4 million self-employed people, who account for one in seven of the workforce, are not covered by automatic enrolment. Pension coverage among the self-employed […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm