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West Brom refutes rescue rumours

West Bromwich Building Society has denied any knowledge of FSA merger talks after press reports claimed the regulator was seeking a rescuer for the mutual.

It says it is well-capitalised, able to meet all financial obligations and has a strong future as an independent society.

But the society says: “In common with other financial institutions, West Brom has been working closely with the FSA in relation to its funding and capital position, including the current stress-testing exercise being conducted on a number of the larger building societies.

“The society has not received any indications from the FSA in relation to the results of this exercise, which commenced only recently. Furthermore, West Brom has no knowledge of the FSA holding merger discussions relating to the society.”


People on the move: Investment

Schroders has appointed Thomas See as the new head of its income maximiser fund following the departure of John Teahan.

Execs back higher standards

Fifty-five per cent of financial services executives think that higher professional standards for IFAs will attract more graduates and talented new entrants to the sector.

Manager focus: James Thomson

After what he describes as a dismal 2008, Rathbones James Thomson sees light at the end of the tunnel. The performance of his 60m Global Opportunities fund has improved markedly after a tough year, and now ranks 57th in the Investment Management Association (IMA) Global Growth sector. Over the year to May 18, the fund […]

Leading Edge June – Investment panel debate

RLAM’s asset class specialists discuss some of the findings from the panel session at our recent Investment Conference. By Rob Williams, Head of Distribution Welcome to the latest edition of Leading Edge. It has been an eventful six months since the last e-zine. The European Central Bank announced ongoing stimulus measures, while the immigration crisis in Europe threw the […]


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