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.
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's consumer panel has expressed concern at the way these groups are dealt with by financial services companies.The Office of Fair […]
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.
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 […]
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 […]
Simon Edelsten, manager of the Artemis Global Select Fund, examines the long-term trends that they have exploited since the fund’s launch five years ago. Looking ahead, he explains the stock-specific opportunities the team are finding. Click here for full article
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As the outlook for the UK’s economy remains uncertain, how can advisers prepare portfolios for any change in inflation? As higher inflation fails to appear on the horizon and wages grow faster than expected, fund managers are weighing up their portfolio moves for any potential changes in the economy. The UK consumer prices index rose […]
IFA directors Kevin and Cheryl Neal have been banned from being company directors by the Insolvency Service for six and four years, respectively. The married couple ran the now-defunct Hertfordshire-based Kevin Neal Associates Wealth Management. They were disqualified for taking assets from an insolvent company. The firm had been incorporated to take over the business interests […]
Hartley Pensions has bought the “untainted” assets of the Lifetime Sipp Company, which went into administration earlier this year. An update published today on the website of Lifetime’s administrators Kingston Smith & Partners says Hartley Pensions has also agreed to administer the tainted Sipps held by Lifetime Sipp. The administrator described tainted assets as those where […]