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People on the move: Life and Pensions

The Department for Work & Pensions has appointed Robert Devereux as permanent secretary. Devereux, a former permanent secretary at the Department for Transport, replaces Sir Leigh Lewis, who retires at the end of December. The appointment, announced by Cabinet secretary and head of civil service Sir Gus O’Donnell, was rubberstamped by David Cameron and secretary of state for work and pensions Iain Duncan Smith.

Goldman Sachs Asset Management has recruited Paul Trickett from rival consultant Towers Watson. Trickett becomes head of the global portfolio solutions group for Europe, the Middle East and Africa at GSAM. He was previously head of investment for EMEA at Towers Watson. Trickett will be tempo-rarily replaced by Towers Watson global head of investment Carl Hess.

LCP has hired Andy Cheseldine from Hewitt as part of an expansion of its defined-contribution team. Cheseldine, who spent five years in Hewitt’s DC leadership team, will become a principal at LCP. He previously worked for Watson Wyatt, now Towers Watson, for nearly a decade.

Former No.10 policy adviser Ros Altmann has joined Saga in the newly created role of director general. She will focus on improving financial education and financial planning.

She says IFAs should have a role in educating and encouraging people to make financial plans.

Royal London chief executive Mike Yardley will step down from the role after 12 years. Yardley, who will leave the company once a successor has been found, plans to use his experience to help the life insurance and asset management to “tackle the many challenges ahead”.

The company will be considering both internal and external candidates in the hunt for a replacement.



CSR: Govt extends SMI changes to 2012

The Government has extended temporary changes to its Support for Mortgage Interest scheme, which helps borrowers struggling to pay their mortgage, for another year. The scheme works by covering eligible interest payments on mortgages and some home improvement loans for borrowers receiving income-related benefits. From January 5, 2009 changes to SMI were made on a […]

CSR: EU should share pain of spending cuts, says MEP

The increase in the European Union’s budget which passed another hurdle today is out of line with the cuts being made by member states and the Union should share the pain according to Lib Dem Sharon Bowles. MEP’s voted to increase the 2011 budget by nearly 7 per cent to over €270bn at the same […]

N&P and Carval give cash lifeline to Lifemark

Norwich & Peterborough Buil-ding Society and US hedge fund Carval have provided lifeline capital to Keydata’s Lifemark. N&P chief executive Matt-hew Bullock and Lifemark’s administrator Eric Collard of KPMG Luxembourg have been nailing down the final details of a shortto mediumterm package of debt facilities this week. The £1.5m loan facility has been made available […]


OECD praises Osborne’s “courageous” cuts

George Osborne’s £81bn package of spending cuts to reduce the UK’s debts has been described as “courageous” by a leading international organisation. The Organisation for Economic Co-operation and Development has welcomed Osborne’s spending review – announced on Wednesday – as a “necessary step towards achieving long-term fiscal stability”. The praise contrasts with stinging criticisms from […]


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