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Penrose Report to be revealed on Monday

Publication of the long awaited Penrose report into what went wrong at Equitable Life is finally to take place in full on Monday. Financial secretary Ruth Kelly is also to make a statement to Parliament about the report on the same day.

The 818-page report has been with the Treasury since December and has been referred to the Serious Fraud office.

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B&B chief executive Rodrigues resigns

Bradford & Bingley group chief executive Christopher Rodrigues has resigned to take up a position as president and chief executive of Visa International in San Fransisco. He will be replaced by Stephen Crawshaw, currently in charge of the group&#39s core lending and savings business. Crawshaw says: “I am clear about our priorities in both the […]

Lloyds TSB profit before tax up 66 per cent

Lloyds TSB&#39s 2003 results show an increase in profit before tax on a statutory basis of £1.730bn or 66 per cent to £4.348bn from £2.618bn in 2002. However, Lloyds points out that to enable meaningful comparisons to 2002, it is necessary to exclude the gains on business disposals, investment variances, and changes in economic assumptions […]

Axa Investment Management – Axa Select Active Portfolio

Type: Oeic fund of funds Aim: Growth by investing globally in equities through segregated mandates and collective investment funds Minimum investment: Lump sum £100,000 Investment split: 100% global equities Isa link: Yes Pep transfer: Yes Charges: Initial 5%, annual 1.5% Commission: Subject to negotiation Tel: 020 7003 1234

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