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Towry confirms Black is leaving

Towry Law has officially confirmed that chief executive Douglas Black is quitting the national IFA, first revealed on the Money Marketing web site last Friday.

Black will be replaced by AMP UK director of development John Simmonds who will occupy the role of managing director of Towry.

Simmonds was the key AMP figure involved in the negotiations over its purchase of Towry in June.

Both AMP and Towry Law say Black&#39s departure is not related to the negative coverage of the purchase which left the ICS picking up more than £30m of the £48m pensions liability Towry inherited when it bought IFA Advizas from Hogg Robinson.


This red tape is over the top

Let me say from the outset that I am fully in favour of leaving money launderers no hiding place but, as usual in the UK, we go over the top in enforcement of the regulations, as borne out by the latest rules applying from December 3, 2001.No doubt, all the other European countries will agree […]

Isis techs a gamble

Friends Ivory & Sime has established the Isis technology venture capital trust (VCT) to take advantage of undervalued technology companies in the UK.This VCT will be managed by Stephen Grant and Glen Nimmo. Grant currently runs the Ivory & Sime UK smaller companies investment trust and shares responsibility for the discovery trust with Nimmo. Nimmo […]

Unicorn Asset Management – Falcon Investment Trust

Thursday, December 06, 2001 Type: Investment trust. Aim: Growth by investing in UK smaller companies. Minimum investment: Subject to negotiation with stockbroker. Maximum investment: No maximum. Investment split: 100 per cent in UK smaller companies. Types of share: Ordinary. Isa link: Yes. Pep transfers: Yes. Redemption date: None. Charges: Initial subject to negotiation, annual 1 […]

Laundering waste is an indictment of regulation

The correspondence we are starting to receive from product providers regarding the money-laundering regulations under the FSA is a further indictment of:The failure of financial regulation to date.The danger of non-practitioners making regulations.The weakness and failure of the regulated to stand up to the regulators and use that simple word: “Why?” The answer that it […]


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