View more on these topics

Zurich looks to cut admin and support roles

Zurich-Building-700x450.jpg

Zurich UK Life is looking to cut administration and support roles as part of a restructure of its retail sales team.

The provider says it anticipates reducing the number of roles by 29 and has entered a consultation period with those affected.

Zurich says it also plans to “streamline” some of its management functions with the aim of realigning resources to focus on its key areas of protection and wealth.

It says the face-to-face teams that are directly responsible for managing relationships with advisers will not be affected.

A Zurich spokesman says: “Making these decisions is never done lightly or easily and we appreciate this is a very difficult time for those affected by the proposals.

“The proposed changes, which are subject to consultation, are designed to streamline our structure and mainly impact support and administrative roles.

“Specifically, our face-to-face sales teams who are directly responsible for managing the personal relationships with advisers are not impacted by these changes.”

Zurich has 550 staff in its retail business, but refused to say how many work in administration and support.

Recommended

UK-Currency-Money-Coin-Pounds-GBP-700x450.jpg

UK inflation turns negative

UK inflation slipped into negative territory again in September, driven by the falling price of food and reduced motoring costs. The 12-month Consumer Prices Index inflation rate dropped to -0.1 per cent in September, down from 0 per cent in August. It is the second time the Office for National Statistics has reported negative inflation […]

Justice-Fine-Ban-Court-Gavel-Judge-700x450.jpg
1

Arck boss handed 10-year sentence for £50m fraud

Former Arck partner Richard Clay has been sentenced to 10 years and 10 months in prison for his part in a £50m fraud. His fellow ex partner Kathryn Clark was handed a two year suspended sentence. In December 2014, Clay pleaded guilty to three fraud charges following a joint investigation by the Serious Fraud Office […]

Stevens-Neil-SimplyBiz-2015

SimplyBiz reports £5.5m loss

SimplyBiz has swung to a £5.5m loss for 2014, following a profit of £3.4m in the previous year. The group says performance was hit by the write down of loans to Sandringham Financial Partners, and a partial impairment of its investment in Staffcare. SimplyBiz owns a 20 per cent stake in Sandringham, while it acquired […]

Womack-Stephen-2012-700x450.png
3

Stephen Womack: Osborne must listen to pension tax relief views

Treasury officials will be working overtime in the next few weeks digesting the responses to the latest consultation on pension tax relief, which closed last week. Chancellor George Osborne has asked whether today’s model of tax-free contributions and growth, then taxed pension income, is still the best way to encourage a healthy savings culture. You […]

Finding value in UK equities

By Mark Martin, Investment Director & Head of UK Equities Register for a live update on 9 July at 14.30 with Mark Martin, who will be discussing Chancellor George Osborne’s ‘emergency’ summer budget, the UK equity landscape post May’s General Election and his outlook for the second half of 2015. Mark will also highlight the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Having never met anyone from Zurich face to face, I don’t have much of a relationship with the company. Cuts to its admin and support teams are hardly likely to encourage me to make the effort to establish one. I’ve not even seen anyone from Skandia/Old Mutual face to face for longer than I can remember, though at least that company’s admin and support personnel are pretty good.

Leave a comment