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We need a strong political stand to keep pay in check

Response to MP’s call for urgent review of MAS chief’s £350,000 pay

This is another matter that brings out anger in people who work hard for a modest salary.

It is in the same area as the inflated salary levels within the corporate financial services sector. We really need some strong political leadership that can put a structure in place that will re-calibrate salary levels from where they had reached pre-2008.

Glasgow Rangers’ top players took a 75 per cent wage cut to keep their jobs. Would this man (and many others) walk away if his salary was halved? I don’t think so.

John Murray


MP claims structured ratings were ‘a racket’

Treasury select committee member Jesse Norman says credit ratings agencies and American banks engaged in a “racket” over structured product ratings and made large profits as a result. Norman made the accusation during a committee hearing with Moody’s, Fitch, Standard and Poor’s and DBRS last week. Quizzing Moody’s managing director Frederic Drevon, Norman said agencies […]

Chelsea’s Matt Woodbridge to join Barclays Wealth

Chelsea Financial Services head of investment products Matthew Woodbridge is leaving the firm to join Barclays Wealth. Woodbridge is to leave Chelsea Financial Services on April 5 and will be joining Barclays Wealth as vice-president shortly afterwards. He will be working in the product team across tax-efficient vehicles such as VCTs and EIS, as well […]


Hoban: I’ve tried and failed to think of better FSCS funding

Treasury financial secretary Mark Hoban says he has tried and failed to find a better way of funding the Financial Services Compensation Scheme. Advisers paid £93m out of a total £326m interim industry FSCS levy in January 2011, mainly to cover the cost of claims relating to Keydata. The FSCS announced this week that investment […]

Get well soon

The private medical insurance market continues to face cost challenges. The number of UK residents with cover fell from 12.4 per cent to 11.1 per cent between 2008 and 2011, reflecting the economic downturn. However, the PMI market is in a position to take advantage of recent developments if it is prepared to look at […]


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