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Simon takes helm at Assureweb

Assureweb has promoted Andrew Simon to chief executive as part of a restructure of senior management.

Simon has been chief operating officer for the past year and replaces John Spellman, who becomes non-executive director with a view to being made chairman at the end of the year when John Little steps down.

In Simon’s first move as chief executive, he has appointed Ian Teague as commercial director. Teague was previously finance and operations director at The Exchange and in his new role he will be responsible for managing provider relationships for the portal.

Assureweb says it has recently seen a 24 per cent increase in new business levels.

Little says: “On behalf of our shareholders and the rest of the board, I am delighted to announce Andrew as our new chief executive officer. We are confident that he will build on his initial success as chief operating officer and continue to develop the business in line with growth targets.

“I believe that with Andrew at the helm, we have exactly the right mix of individuals to drive the momentum of our business.”


Firms come under Sanlam umbrella

Sanlam has consolidated its UK businesses under the Sanlam UK label for reporting purposes. It owns Merchant Investors Assurance and Sanlam Multi Manager International, has majority stakes in IFA Buckles Holdings and investment firm Principal Holdings as well as minority stakes in Intrinsic, Nucleus and Punter Southhall Group.

Less pain on gains

Last week, I looked at offshore trusts and the tax treatment of income arising under them and remitted from them when the settlor is a UK-resident non-UK domiciliary. I would now like to look at the matter of trust gains and how the new legislation relevant for non-domiciliaries operates.


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