Wagstaff will start in September. He was most recently managing director of M&G’s UK retail business with 15bn under management. He resigned in June 2004 after seven years at M&G, saying he wanted to spend time with his family before thinking about his next move.The announcement comes as New Star plans to increase its market share overseas, opening offices in Switzerland, Spain, France and the Nordic region. It is developing sales relationships with banks and insurers in Hong Kong, Taiwan and Singapore. Wagstaff will report to managing director of sales and marketing Mark Skinner, who will now be able to concentrate on strengthening international retail sales and marketing. Marketing director Rob Page will also take on international marketing responsibilities. Skinner says: “Wagstaff’s appointment will allow us to develop our international funds business.”
Alliance & Leicester
Five Year Fixed Rate
BM Solutions is launching a limited edition self-certification fixed-rate product at 4.85 per cent. The rate is fixed until September 1, 2007. There are no overhanging ERCs and an arrangement fee of 599.
Schroders’ multi-manager team has reduced its exposure to private equity firms after two of its investments reached a premium to net asset value.
Friends Provident is changing its guaranteed critical illness rates from July 19.Along with the rate changes, Friends is emphasising the benefits of its online system. Where the online system doesn’t make a decision automatically, it expects to turn round underwriting decisions in less than 48 hours, assuming no further medical evidence is required.Life term assurance […]
Dr. Andrew Lo, Founder and Chief Investment Strategist at AlphaSimplex, discusses how the firm takes into account human behaviour when constructing their portfolio, specifically by embedding the idea of volatility targeting in all of their strategies.
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