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Reid to step down as Royal London chairman

Royal London, the mutual life and pension company, has announced that Hubert Reid plans to retire as chairman and as a director at the end of 2005.

The Board of Royal London intends to invite Tim Melville-Ross, deputy chairman and senior independent director of the company, to succeed Hubert Reid as chairman.

Hubert Reid joined the Board of Royal London as a non-executive director in April 1996, becoming Chairman in July 1999.

Tim Melville-Ross was chief executive of the Nationwide Building Society from 1985 to 1994 and director-general of the Institute of Directors from 1994 to 1999.


Daniel Godfrey

Daniel Godfrey has taken some hard knocks over the last seven years in what is arguably one of the hottest seats in UK financial services as director general of the Association of Investment Trust Companies.

ScotEq Protect reveals critical claim statistics

Scottish Equitable Protect paid out 631 critical-illness claims totalling more than £33m last year. The company decided to release its critical cover claims’ figures two years ago after calls from IFAs for statistics to be published. The average claim for ScotEq Protect was £61,390 and the average age of claimants was 40. The statistics show […]

Exeter pays £1m into FSA split-cap settlement fund

Exeter Asset Management directors have negotiated a £1m agreement with the FSA over its role in the split- caps crisis. The agreement, signed last week, requires Exeter to pay the money into Fund Distribution, the company established to administer payments to investors in zero-dividend shares of split-capital investment trusts. The payment has been made without […]

FSA sets out ’emerging threats’

Payment protection insurance, child trust funds, mortgage disclosure documents and venture capital trusts have all been included in a new list of emerging retail risks drawn up by the FSA.

Frexit & contagion risk in Europe

Many commentators have suggested the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Neptune Head of European Equities Rob Burnett discusses the likelihood of this happening. Click here to read more Important informationInvestment risks Neptune funds may have a high historic volatility rating and past performance is […]


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