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Severn bridges gap to take Aifa top job

Aifa has picked the architect of depolarisation, FSA head of retail investment policy David Severn, as its new director general.

The election by Aifa’s appointment committee, made up of four adviser
members of Aifa’s council, was unanimous. Severn will start on
February 1, with director of policy Fay Goddard taking the role in
the interim. When Severn joins, Goddard will extend her role to
include mortgage advice while Association of Mortgage Intermediaries
director Chris Cummings will become Aifa deputy director general.

Goddard says: “I look forward to working with David – I have got to
know him over the last five years and I think that he will be a great

IFAs were barred from applying for the post and some say they are
surprised at the appointment but feel that Severn should be given a

Syndaxi Financial Planning director Robert Reid says: “I was
surprised but I can understand the perverse logic that says the man
who created the depolarisation rules may be the best to take them
forward. Whether it works, we will see.”

Informed Choice managing director Nick Bamford says: “It is a shame
we could not have had an IFA but I suppose this is the nature of the
beast – they want people who are politically able rather than those
who know how an IFA works.”


FSA warns 4,500 firms have not applied for general insurance regulation

FSA today named the ‘hotspot’ sectors of firms selling insurance who have yet to apply for authorisation and warned them to do it now or risk losing business before regulation comes into force on January 14.Whilst over 14,000 insurance firms have registered with the FSA to apply for authorisation, with less than five weeks before […]

Deutsche Asset Management European head sacked following HQ transfer

Deutsche Asset Management European head Paul Manduca has been sacked following the group’s decision to transfer its European HQ from London to Frankfurt. Kevin Parker takes the role of chief executive and a shift in focus from geographical to product lines also results in the axing of head of Asia James Goulding. Manduca had been […]


New Zealand-born PruHealth chief executive Catherine McGrath says Antipodeans can often get away with being more direct in business than British people and that can be useful. Since moving to the UK eight years ago, McGrath has used this directness and her business acumen to make her way up the ranks of financial services to […]

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In Focus — May 2015: private medical insurance market in Germany

Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.


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