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Short-term outlook for Star staff

A number of New Star staff are to be placed on five-month contracts after the merger with Henderson.

The contracts extend across numerous roles, including deputy managers and senior analysts, Money Marketing understands.

Henderson said last week that it is to pay up to £2.9m in cash and £1.34m through 1.65 million new ordinary shares to lock in some New Star directors and staff until September 30.

A Henderson spokesperson says: “We can confirm that some people are coming over purely for the transition to help with areas like back-office and general merging. There will also be those who are initially here for a period of time but may be needed in the longer term and, in that case, their role will be discussed.”

Skerritt Consultants head of investments Andrew Merricks says: “There are bound to be departures on both sides as the merger is likely to result in some teething problems.”


Wrap up winners

People who have spare money to invest at the moment are presented with a tremendous and potentially unprecedented opportunity.


Barclays, consumer clarity and the RDR

The standard of advice given by Barclays’ “financial planning managers” and uncovered by Money Marketing this week appears alarming to say the least.

Mortgage brokers banned

The FSA has banned Dorset mortgage brokers Peter and James Dean for regulatory failings, including submitting false mortgage applications and acting without authorisation.

Zurich to snap up AIG subsidiary

AIG has reportedly agreed to sell subsidiary 21st Century Insurance to Zurich Financial Services in a deal worth £1.27bn.

Harris Associates' view on the UK’s vote to leave the EU

By David Herro, Partner, Deputy Chairman, Portfolio Manager and Chief Investment Officer of International Equity at Harris Associates Britain’s vote to exit the European Union has led to significant uncertainty across global markets. We believe market impact of this uncertainty, though severe, is more of a shorter-term phenomenon which will provide an opportunity for long-term […]


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