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Wastcoat steps back in Fidelity restructure

Fidelity managing director Richard Wastcoat is stepping down at the end of this month.

He will work on special projects until the end of this year, including a major autumn launch and overseeing the transition, before taking a six-month sabbatical.

Fidelity is already recruiting externally for a new UK head but says Wastcoat may rejoin the business in a different role. He has worked for Fidelity for the last 24 years and headed the UK business for nearly 10 years. His role covers FundsNetwork and he launched the Indian fund business.

In the new structure, Funds Network will be overseen by European mutual funds president Robert Higginbotham.

Head of IFA channel Peter Hicks and head of financial institutions Michael Jones will now report to at a European level within Fidelity and will take on some of Wastcoat’s responsibilities in the interim.


A shaw thing

Annie Shaw is a freelance financial journalistSince I had ricked my foot the previous week and was headed for Bangalore accompanied by a not very elegant walking stick, a little medical tourism seemed to be in order. I ended up in the MS Ramaiah Memorial Hospital for an “executive check-up”. This is the equivalent of […]


Goodbye Aifa says Towry, hello Reeve says Pos Sol

The biggest splash in the distribution world this week was the scathing attack on Aifa made by Towry Law’s Andrew Fisher as he announced his firm would be quitting the trade body over its position on the RDR.

Protection price cuts set to peter out after impetus from cash boost

The recent spate of price cuts in the protection industry is due to a technical issue and will “fizzle out” in the next couple of months, claims Legal & General.The firm’s protection marketing director Alan Ferguson says that the extra margins which have been available to product providers since the FSA relaxed solvency requirements in […]


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