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Something in the City

The New Star UK property trust has bought the UK headquarters of rival Jupiter’s parent group Commerzbank.

John Duffield-owned New Star paid £146m for the building on Gracechurch Street in the City of London.

Duffield sold Jupiter to the German banking giant in 2000, making £200m, then success-fully sued the new owners for wrongful dismissal.

An insider says: “We are looking forward to collecting the rent.”


New deal changes at Nationwide

Nationwide says it will continue running its “new customers only” ads despite ending its policy of offering the same deals to new and existing borrowers.It is changing its range from December 1 so rates on remortgaging, deal switching and further advances are higher than those for home purchase a move which was first revealed on […]

SGAM UK adds to bond management team

Societe Generale Asset Management has hired Gareth Isaac as a fixed income fund manager on its UK bond management team based in Paris.Isaac has eight years investment experience and joins from Axa Investment Managers where he managed a number of UK and international government bonds including the Axa Framlington gilt fund. Prior to that Isaac […]

Fine sends a warning on cold-calling

The FSA has fined Capital Mortgage Connections £17,500 for rule breaches including cold-calling and treating customers fairly failings on payment protection insurance sales.It is the first time the regulator has issued a fine for cold-calling and it came about after an FSA investigation found that 85 per cent of CMC’s business was generated this way.The […]

Rogue chasers face jail threat

The Claims Standards Council believes the onset of claim-chaser regulation will rid the sector of rogue operators as rule-breakers could face a two-year prison sentence.Speaking at an extraordinary general meeting of the CSC to ratify its executive, new chairman Andrew Twambley said the regulations will be “a very uncomfortable read” for any claim firms with […]

Navigating volatility

The making of any fund can be seen in how it responds to crises and opportunities. In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham outlines how the Royal London Global Multi Asset Portfolios or GMAPs navigated through Brexit and the US election cycle. He also highlights the importance […]


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