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ScotProv exodus as five managers leave

There has been an exodus of Scottish Provident senior and sales management

only days after the transfer of business to Abbey National, with five top

figures leaving the firm.

UK chief executive Barry Rose, head of marketing and business development

David Robinson, head of HR Tracey Ashworth-Davies, head of strategic

planning and compliance Dianne Haley and head of finance Mike Morgan have

all left the company.

Many of the front-line IFA sales managers are also set to leave.

Abbey National took control of the company on August 1 but many ScotProv

staff have been disgruntled by Abbey&#39s handling of the takeover which

clearly placed Abbey-owned Scottish Mutual at the helm of the group. Head

of sales Alistair Schofield left ScotProv last November.

It is understood that David Robinson will be heading Scottish Life&#39s new

protection business and a number of key ScotProv staff are being lured away

with offers of salary increases of up to 40 per cent.

The new ScotLife business will be running within months and will start

with a big team of staff, with many believed to be from ScotProv.

ScotProv spokeswoman Susan Sneddon says: “It is hoped the majority of

staff will be staying with the group. Some of the senior management team

has gone but that is inevitable in this situation where there is

duplication at the top level.”


RJ Temple MD to lead Aim flotation

Michael Hawkins, 55, has stepped down as mana-ging director of nationalIFA RJ Temple and will now be responsible for taking the firm to flotationon Aim next year. RJ Temple says Hawkins, who had been joint MD from 1992to 1995 and sole MD since then, will not be replaced and chairman GeoffreyMorphitis will step in when […]

Invesco Perpetual – UK Aggressive Fund

Type: Unit trust. Aim: Growth by investing in UK equities. Minimum investment: £1,000. Investment split: 100 per cent in UK equities. Isa link: Yes. Pep transfers: No. Charges: Initial 5.26 per cent, annual 1.5 per cent. Commission: Initial 3 per cent, renewal 0.5 per cent. Tel: 0800 0282121. Broker Panel:- Luke Gibbon, Proprietor, Independent Personal […]

Scottish Mutual launches investment plan for pensions

Scottish Mutual is launching a new flexible trustee investment plan for its pension products. The Classic version of the plan is for investors wanting the ScotMut pension fund range and access to external funds, which include funds from Fidelity, Merrill Lynch, Newton and Perpetual.The Tailored version is for fee-paying investors and corporate clients wanting access […]

Henderson predicts upturn in US by end of year

The US economy will begin to recover in the second half of this year, with Europe and Japan following in early 2002, according to Henderson Global Investors.The company&#39s analysts say that although the US, Japanese and European industrial sectors are experiencing their first synchronised downturn since 1982, it will stop short of global recession.Henderson&#39s technology […]


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