Smith & Williamson is returning to its roots with the opening of a new fund management office in Glasgow.The independent investment management, financ- ial advisory and accounting group was founded in Glasgow in 1881. Director David Reid will be responsible for the open- ing of the new office, which is scheduled for the final quar- ter of 2005. Reid was previously with NCL Investments from 2000, before it merged with Smith & Williamson in 2002. The firm, whose investment management activities have been concentrated in the City of London for many years, says it sees Glasgow as growing in importance, making it a logical choice for a base for its Scottish operations. Deputy chairman Christopher Lyttelton says: “We feel that our approach, which is to service the investment needs of our clients as individuals, will be well received in the Scottish market. “This priority distinguishes us from many other investment management businesses.” Reid says: “We are very excited about the business prospects in the city and we look forward to making a genuine contribution to Glasgow’s financial community.”
Public sector workers now out-earn their priv- ate sector counterparts by 17 per cent, as well as receiving typically better pension arrangements, according to research by the Chartered Institute of Personnel and Development.
FSA chairman Callum McCarthy says he wants to take money-laundering rules out of the regulator’s handbook, allowing firms to create their own controls. Revealing the first phase of the FSA’s programme to simplify the handbook and remove unnecessary rules, McCarthy says he wants to scrap or change requirements that are more restrictive than needed to […]
Sesame turnover is down five per cent on last year with profits falling by 2m but RI numbers have increased 20 per cent. Revenues fell from 335m last year to 319m but the network says performance is in line with expectations.Operating profits fell 4m to 6m since 2004.It has experienced high volumes of endowment complaints […]
City-based stockbroker Wills & Co is promoting the advance funds, a fund of enterprise investment schemes.
Most investors are better off than they were 12 months ago despite the summer’s volatility. Will next year bring the (delayed) global slowdown? Artemis’ senior partner weighs up the factors.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]