View more on these topics

Standard Life sells SimplyBiz stake

Standard Life has sold its 10 per cent stake in support services SimplyBiz.

The SimplyBiz management team has bought the stake first acquired by Standard Life in October 2006. SimplyBiz has not disclosed what it paid for the stake.

SimplyBiz chairman Ken Davy says: “Our seven-year relationship with Standard Life as minority shareholders worked well for both parties. However, we are pleased to be in a position where we are able to buyback these shares so that we can focus on building the business independently of any product provider ownership.

“I am sure this will be well received by the firms we serve and we look forward to continuing to grow our business”.

The remaining 90 per cent of the firm is owned by SimplyBiz directors with chairman Ken Davy owning in excess of 80 per cent of the firm.

In May it emerged that Standard Life was in talks with SimplyBiz over the sale.

Standard also owns 100 per cent of support services firm Threesixty Services.

Recommended

Verona-Smith-700x450.jpg
2

Ex-Cofunds marketing director Verona Smith joins 7IM

Verona Smith has joined Seven Investment Management to head up their platform business.  Smith joins 7IM following her departure from the marketing director role at Cofunds in May and a spell working in an advisory capacity with The Platforum.  She says: “The opportunity that 7IM has in the marketplace is huge. Professional intermediaries value the […]

Taxation

Tax avoidance is best avoided Charlotte Mannouris Tax avoidance costs HMRC £5 billion each year, so it’s understandable that it is going after both promoters and beneficiaries of certain tax avoidance schemes. It has launched a consultation, ‘Raising the stakes on tax avoidance’, which is focused on tackling the behaviour of ‘high-risk promoters’ of tax […]

Europe: banking on a recovery

Neptune video: Europe — banking on a recovery

Arguing that the eurozone crisis is over, watch Rob Burnett, head of European equities at Neptune, discuss the sectors that he’s investing in to harness the recovery. 

In the video, Burnett addresses the following: 

• The primary drivers of the eurozone’s economic recovery
• The turnaround in individual countries’ current accounts
• Sectors best positioned to harness the recovery, without offering undue exposure to risk

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Test comment from Samsung Galaxy Ace 2

Leave a comment