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Rose steps down after 15 years as Aegon takes over

Aegon is buying the remaining 50 per cent stake in Wentworth Rose in a deal which sees founding director Philip Rose leave by mutual consent after 15 years with the firm.

Aegon agreed an option to buy the remaining share when it bought half of Wentworth Rose in June 2002 for an undisclosed sum. Rose steps down as chairman at the end of the month and hands over full control to Tudor Taylor, who took over as chief executive in September 2003.

Rose shares an undisclosed eight-figure sum equally with co-founder Ray Peyre who together founded the company in an office in Ascot in 1989.

Wentworth Rose increased its presence in the at-retirement market in the late 1990s with annuity service deals with the Telegraph, Mirror and Scotsman newspapers.

Rose, 50, is planning to travel around the world for a year enjoying his hobbies of skiing, sailing and horse riding, after which he plans a new role outside personal finance. He says: “Ray and I spent over 15 years taking the firm from nothing and making it into a fully fledged distribution arm. It can now move on to become a full part of the IFA distribution operations of Aegon.”

Aegon UK Distribution managing director Peter Dornan says: “This further investment in Wentworth Rose is a mark of our confidence in the firm and of our commitment and confidence in the IFA sector. We wish Philip well in the future.”


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James Dowey, Chief Economist, and Paul Caruana-Galizia, Economist

The conventional wisdom is that following a roughly 50 per cent rise in the stock market in 2013 in Yen terms, the Japan trade is over and done*. So the story goes, those big gains were due to a one-off boost from quantitative easing (QE) and a depreciation of the Yen — policies that one should think of as a palliative to Japan’s economic weakness, but not a cure. Rather the cure, and by implication the necessary condition for a longer-term investment case, is deep structural reforms — a painstaking re-weaving of Japan’s economic and social fabric, no less. The story continues: this is a much tougher test than launching a blast of QE, and one that prime minister Shinzo Abe, although well intentioned and well supported by the public thus far, is likely to fail. Stick a fork in Japan, it’s done…continue reading


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