The Treasury has announced Ron Sandler will be the man to head the “son of Myners” inquiry looking at the long term savings industry.
Sandler was chief operating officer at NatWest from October 1999 until its takeover by the Royal Bank of Scotland in March 2000. Prior to that, he was chief executive of Lloyd's of London where he was involved in its restructuring programme.
In his review of institutional investment for the Treasury, Gartmore chairman Paul Myners recommended a similar look at the retail industry.
Part of Sandler's mandate will be to look at the role played by IFAs in advising clients and the charging structures of retail investment products.
In the same announcement, the Treasury has said it will cut Capital Gains rates for business assets from 30 per cent to 10 per cent over the next two years.