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Resolution targets £1bn flotation in December

Resolution has revealed it will float on the stock market in December with a target price of between £500m and £1bn.

The launch of the consolidation vehicle headed by entrepreneur Clive Cowdery and former FSA chief executive John Tiner will be co-ordinated and underwritten byCiti, HSBC and Merrill Lynch.

Cowdery’s vehicle will buy up life assurance and asset management businesses and seek to make cost savings by grouping businesses together to create economies of scale as well as selling off certain divisions where necessary.

The Guernsey incorporated company will launch on the stock exchange one month later than previously planned and is tipped to be eyeing Clerical Medical, Scottish Widows and Friends Provident.

Chairman of Resolution Mike Biggs says: “We see significant investment opportunities from restructuring in financial services and have been pleased with the support for our business strategy and structure indicated to us by former investors in Resolution plc. We expect to form a strong investor base to support our future growth through this placing.”


Clarity case for pensions

Aon head of DC consulting Helen Dowsey is calling for the Government to provide more clarity on pension personal accounts to help employers prepare for the new scheme.

William Littlewood “betting that QE won’t work”

Journalist Alexis Xydias interviews Artemis manager William Littlewood about his views on bond, equity and currency markets and the impact of a Greek exit from the EU. With bond yields at “ludicrous” levels, William believes a tipping point for bond markets is sure to come. As a result, his Strategic Assets Fund holds government bond shorts to the tune of 100 per […]


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