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Standard win demutualisation vote by a landslide

Standard Life policyholders have voted overwhelmingly for demutualisation, securing 98 per cent of member votes for the resolution.

Of all the votes cast, 1,545,314 voted yes while 32,474, only 2 per cent, voted no. This marks the end of Standard Life’s 81 year-old history as a mutual.

The resolution was verified at the special general meeting held in Edinburgh but must now be approved by the Scottish courts.

In closing the meeting, Standard Life group chairman Sir Brian Stewart said: “This is a clear emphatic vote, it is forward looking, a platform for the future success of the business.”


Swip putting on the Reits with UK fund

Scottish Widows Investment Partnership is offering a UK real estate fund which will give investors exposure to UK-listed property and real estate investment trusts when they become available from January 2007. The fund will form part of the Swip Oeic and will be managed by head of European equities and manager of the European real […]

CFB to set up secured loan body

The Corporation of Finance Brokers is to set up a sister trade body to the Association of Mortgage Intermediaries. The Association of Finance Brokers will represent intermediaries in the secured loan sector.

Lockyer quits financial services

Former Berkeley Berry Birch chief executive Cliff Lockyer has ended his 34-year career in financial services after stepping down as chairman of Synaptic. He is replaced by Tory MP John Maples whose roles have included deputy party chairman and Shadow Foreign Secretary as well as having been chairman of Saatchi and Saatchi Government Communications for […]

Eadon to head PFS

Tim Eadon is to be the new chief executive at the Personal Finance Society. Eadon, who takes on the role next week, was formerly head of Sesame Solutions where he was responsible for business development and transformation of the network’s financial advice channel. He takes over from Mark Ommanney, who left the post in March. […]


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