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Preferred and SPML to merge operations in Lehman shake-up

Lehman Brothers has announced the amalgamation of two of its mortgage subsidiaries Preferred and SPML.

All loan operations of the pair will be combined but both will retain the underwriting philosophies of the different brands and sales forces to service their particular fields. Lehman has yet to decide whether to combine the two offices.

It has also announced the appointment of Simon Hinshelwood as chief operating officer, and John Prust as director of sales and marketing for its UK mortgage businesses. Both will report to chief executive officer Bill Bilsborough.

He says: The new strategy reflects our commitment to enhancing each brand’s presence in the market. We are committed to providing the very best products, first class service and market leading innovation.


Invesco Perpetual bolsters Asian equities team

William Lam has been appointed to join Invesco Perpetual’s Henley-based Asian equities team.Lam, who joins the team on May 22, will help to selectstocks from Taiwan and Korea across all funds managed by the Asian team.Lam was formerly an analyst at Orbis Investment Advisory, specialising in the global telecoms and technology sectors.

Periodic tables

How is the 10-year anniversary charge calculated on a settlement?


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