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Zurich chief to go in revamp

Zurich Financial Services is pushing through a reorganisation plan which will see its UK life business chief executive Phil Smith leaving the firm. Smith will be replaced by three chief executives as the business is reorganised into three divisions. The direct-sales arm will be headed by former Allied Dunbar managing director Keith Baldwin. The IFA arm will be headed by former Zurich IFA managing director Jerry Grayburn. The support division will be headed by former Zurich chief operating officer Phil Hodkinson.

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PIA probes way industry treats ethnic groups and low-paid

The PIA is set to publish two major research projects in the next month looking at groups excluded from financial services.Its Evolution project included comments on the treatment of ethnic minorities and low-income groups.The PIA&#39s consumer panel has expressed concern at the way these groups are dealt with by financial services companies.The Office of Fair […]

Marketing chief for new Standard arm

Standard Life has appointed Kenneth Andrew as marketing director of its investment management company, to be launched next month. Andrew has more than 25 years experience in financial services, having held senior management positions at NatWest and Chase Manhattan.

FSA to monitor firms over 2000 bug

The Financial Services Authority is launching a clampdown on IFAs which fail to prepare for the millennium computer bug.The FSA has released a policy statement calling for firms to take action.It is warning IFAs it will intervene if they fail to update their systems.The bug could cause many computers to crash in the run- up […]

Aon pulls off arbitrage coup over Marsh & McLennan

Marsh & McLennan may have to pay over £20m to its arch-rival Aon Corporation next week, after Aon scooped up shares worth £18m in Sedgwick.Aon stands to profit by £2.4m if the bid for Sedgwick goes through as expected on 20 October.The shares were bought by subsidiary Aon Advisors UK at around 197p and gives […]

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