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Royal London poaches HSBC wholesale chief Phil Reid


Royal London Asset Management has appointed Phil Reid as head of wholesale where he will also be responsible for growing the firm’s advisory proposition.

Reid joins from HSBC Global Asset Management where he was also head of UK wholesale. Prior to that he was sales director at Close Asset Management and held roles at the National Bank of Canada and RJ Temple.

Reid will report to RLAM head of distribution Rob Williams and be responsible for expanding the wholesale business including supporting the launch of the manager’s new multi-asset fund range.

Williams says: “Phil is a key hire for us. He brings a wealth of experience and enthusiasm that will help spearhead our growth ambitions in the wholesale market, with a particular focus on the UK advisory sector.”

Reid says: “I am excited to be joining RLAM at such a pivotal time. The company has a strong capability across major asset classes and a real commitment to build upon its established UK footprint.”


Allianz Global Investors acquires £24bn bond fund manager

Allianz Global Investors has acquired bond fund manager Rogge Global Partners for an undisclosed sum. Following the deal, which is subject to regulatory approval, RGP, which has £24.1bn of funds under management, will maintain its investment team and process. Allianz will acquire 100 per cent of the issued share capital in RGP from Old Mutual […]


Apfa: Regulation is not the only barrier to social investment

  Social investment has become increasingly fashionable in recent years, from the launch of specialist bank Big Society Capital in 2012 to the Social Investment Taskforce established by the UK G8 Presidency in 2013 and HM Treasury’s social investment tax relief introduced in 2014. The latest initiative in this field comes in the form of […]

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Investments misselling claims management firm enters administration

A claims management company targeting the misselling of financial products has gone into administration, the FT reports. Rebus Group completed a crowdfunding campaign last year on Crowdcube to fund its expansion, raising a total of £816,970. However, administrators ReSolve have now been appointed to oversee the business. As a result, more than 100 individuals are […]


Former Hargreaves Lansdown staff launch tax-efficient investment service

Five former Hargreaves Lansdown staff have launched a non-advised investment service for tax-efficient products aimed at high-net-worth individuals. Wealth Club will be led by former Hargreaves Lansdown director Alex Davies and investment manager Ben Yearsley, alongside three former colleagues from the firm. The Bristol-headquartered business will mainly offer EIS, SEIS, VCT and IHT products. It aims to research […]

Scheme pays explained

By Fiona Hanrahan, senior product insight and technical support analyst We’ve received lots of queries on scheme pays and when it can be used. This article explains how it works and the conditions which apply. What is ‘scheme pays’? If an individual exceeds the annual allowance (AA) and an AA tax charge is due, they […]


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