Wells Street Journal: The knives are out and about

Brexit hasn’t spelled gloom and doom for everyone in Westminster, in fact some on the public payroll have managed to make light of the turmoil of the past two-and-a-half weeks.

As politicians have made no effort to cover up their own ambitions and strategies to eliminate friend and foe, the numerous resignations and leadership race withdrawals have provided excellent comic fodder for those in the House of Parliament kitchens.

According to South Derbyshire Tory MP Heather Wheeler, House of Commons catering staff are struggling to do their jobs due to an unprecedented disappearance of knives.

Can those MPs who have a sharp utensil embedded in their back, please return it to the kitchen as soon as possible? Preferably in a clean state.

Search for moral compass

City workers are often characterised as pompous and out of touch, and a new report released by think tank New City Initiative confirms that is probably a fairly accurate description.

Even the title – The Moral Case for Asset Management – meant we were a little sheepish to be seen with this document outside the WSJ offices.

Among its more outlandish arguments was that large fund manager pay cheques are not only acceptable, but “deeply moral”.

Capitalism does not assume any equality of wealth, the report points out, therefore the fine individuals who invest capital funds should be “well rewarded”.

We hope Richard Woolnough (estimated current pay package: £32m) can finally rest easy at night.



Watching brief: The way forward for gated property funds saga

Property fund giants with assets of over £18bn have moved to stem the outflows sparked by fears over falling property values in the wake of the Brexit vote. Standard Life Investments, M&G, Columbia Threadneedle, Aberdeen Asset Management, Henderson and Aviva Investors are among those who have imposed temporary “gates” on exiting investors. As a result, […]


May set to be PM after Leadsom quits race

Theresa May’s path to Number 10 has been cleared after Andrea Leadsom pulled out of the contest to be the next leader of the Conservatives. The Home Secretary is the only candidate left to replace David Cameron, who announced he would step down in October following the vote to leave the EU. It is unclear […]

How will fund groups fare in the post-Brexit world?

The post-Brexit scenario might not be as bleak as it is seems for asset management firms despite falls in their share prices and short-term fund outflows, experts argue. In the weeks following the EU referendum, a number of large FSTE100 asset management firms have already announced plans to move staff and launch funds in Europe […]

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Healthcare predictions for 2015 from Jelf Employee Benefits

The continuing fall-out from the Competition and Markets Authority’s (CMA’s) review, the rise of the private GP and digital engagement will be the primary focuses in the private healthcare industry during 2015, according to Iain Laws, managing director, healthcare and group risk, at Jelf Employee Benefits.


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