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Reeve ready for big PosSol push

Positive Solutions chief executive Jim Reeve says his predecessor David Harrison would not have been able to lead the business through the transition it must now go through.

In an interview with Money Marketing at last week’s Positive Solutions’ national partners forum in Birmingham, he said: “I don’t believe that he would be able to manage this business through the transition and change we are about to do and I think I am the best man for the job.”

He praised Harrison, who remains non-executive chairman of PosSol, for being a “great guy” who had created a “fantastic business” but said he did not intend to follow in his footsteps. Reeve said: “I have a completely different skill set to him. He is an entrepreneur. This is his baby and he has entrusted it to me and I am going to make sure that we take it from the level it is now to somewhere far greater and far bigger.”

Reeve announced the launch of a range of partnership initiatives, including a learning academy for advisers and a mortgage club.

Lexicon Partners was unveiled as an adviser to assist the company with a possible stockmarket flotation in 2010. The firm advised Hargreaves Lansdown on its successful flotation last year.

Speaking to delegates, Reeve said: “In the next three years, we will surprise ourselves, the market and our competitors with just how fantastically successful we will be.”


Threadneedle takes over Invesco’s DC business

Threadneedle has bought Invesco Perpetual’s full-service defined-contribution pension business which has total assets of £470m.Threadneedle launched its DC product in 2001 and manages pension funds for over 100 clients with total assets of around £1.3bn. It intends to grow DC business and says Invesco’s transferred clients will get access to a broader fund range, improved […]

Sense of venture

Venture capital trust fund-raisings have continued to fall from the heady sums achieved during the bumper years of 2003-06 and investors could be forgiven for thinking that these investment vehicles have had their day.


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