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Partnership names Chris Gibson-Smith as chairman designate

Partnership has appointed London Stock Exchange chairman Chris Gibson-Smith as chairman designate.

Gibson-Smith will replace Ian Owen, who has held the position since the formation of the company in 2005.

Partnership says Owen will retire as chairman following a “suitable” hand over period and receipt of FSA approval for Gibson-Smith’s appointment. Owen will remain on the board as a non-executive director.

Gibson-Smith says: “I look forward to helping Partnership achieve its significant further potential. The company has demonstrated very strong growth based on its deep knowledge of the impact of health and lifestyle on life longevity.”


Key Retirement Solutions acquires Annuity People

Equity release specialist Key Retirement Solutions has acquired Surrey-based annuity broking service Annuity People. Annuity People is an annuity shopping around service which advisers, occupational pension schemes and employee benefit consultants can refer clients to. It was previously owned by Honister Capital, which entered into administration in July. At that point, Annuity People was unable […]


Tesco Bank withdraws its 1.99 per cent two-year fix

Tesco Bank has pulled its 1.99 per cent two-year fixed rate less than a month after it was launched. The direct-only lender slashed the rate on its 60 per cent LTV product by 0.65 per cent from 2.64 per cent to 1.99 per cent on 19 October. But yesterday it pulled the deal, saying all […]


FSA to increase Sipp cap-ad minimum to £20,000

The FSA has proposed increasing the minimum amount of capital a Sipp operator must hold from £5,000 to £20,000, with a surcharge for providers holding “non-standard” asset types. In June last year, Money Marketing revealed the FSA was planning to increase capital adequacy requirements for Sipp providers. Currently, providers are required to hold capital reserves […]


MM Leader: We need a more accountable regulator

As the bill to create the new financial regulators continues its passage through Parliament concerns remain over the extent to which they will become both more powerful and less accountable than their predecessors. This week’s call from FSA prudential head Andrew Bailey for the Treasury select committee to be given the power to force regulators […]


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