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Peter Hicks quits Fidelity

Fidelity International product director for UK equities Peter Hicks is leaving the firm after eight years to take a break from the industry.

Hicks, who joined Fidelity in 2003, is stepping down next month and William Russell will take over the role in the interim while Fidelity looks to appoint a permanent successor.

Fidelity has announced new heads for its platform and workplace savings market.

David White is now the head of FundsNetwork and Julian Webb becomes head of its defined contribution and workplace saving business.

White joined Fidelity in 2002 and was previously head of UK retail marketing, with a particular focus on FundsNetwork.

Fidelity has also appointed Pete Burtonshaw as head of platform development. He will oversee delivery of the firm’s investment programme on its platform, supporting the growth of Fidelity’s DC and retail businesses in the UK and covering the big regulatory changes that are coming into the market.

Fidelity International UK managing director Gary Shaughnessy says: “Workplace investing is going to change the way people save in this country.

“The shift towards wanting to save or buy your Isa through your employer is gathering pace and we want to be at the forefront of this revolution.

“FundsNetwork is an equally dynamic and fast-growing part of Fidelity and the significant level of investment we are making in our platform ensures it will continue to grow and meet the evolving needs of advisers in the run-up to the retail distribution review and beyond.”

Whitechurch Securities managing director Gavin Haynes says: “Peter has been instrumental in a number of roles at Fidelity and I am sure he will be a big loss to the business.”


FSA delays MMR proposals until autumn

The FSA has delayed the publication of the next mortgage market review consultation paper until autumn. Speaking at the FSA’s annual public meeting today, FSA chairman Adair Turner (pictured) said the new paper, which were due to be published in July, has been delayed because it needs to be subjected to “wide-ranging debate”, adding that […]


FSA report into RBS to be “openly self critical”

Lord Turner says the FSA is convinced  it will produce “the most openly self critical report of any organisation” when it publishes its internal review into the collapse of Royal Bank of Scotland. At the FSA annual public meeting today, Lord Turner referred to the FSA audit report into Northern Rock in April 2008 as […]


Revenue slams FSA in split on platform role

HM Revenue & Customs has criticised the FSA for defining platforms as providing administration services and sparking fears over VAT liability, as it says that platforms are clearly based on charging for transactions. In its platform discussion paper in November, the FSA categorised platforms as providing a service based on admin rather than distribution. Ernst […]

Liontrust looks to GEMs

Liontrust chief executive John Ions has targeted an Asian or global emerging markets fund as the first addition to its restructured range. Ions says the firm is intent on adding one or two mainstream offerings to the range before the end of 2011 following its restructure and that those areas are headed for mass growth. […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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