Zurich Financial Services Group showed an increase in profit in the first half of 1999 mostly due to a strong performance in non-life business. The group is planning to build an e-business hub for its 30m customers in conjunction with IBM and ChannelPoint. Gross premiums written, including life insurance deposits, increased by 3.7 per cent to $24bn from $23.1bn in the first half of 1999.
Jupiter is to launch a dividend and growth split capital investment trust, sponsored by HSBC.The launch period is expected to be 7 October to 18 November 1999. The trust has a planned life of 6 years.The trust will be managed by Anthony Nutt who manages the Jupiter Extra Income Trust and the Jupiter High Income […]
IFA InterAlliance has opened an office in Edinburgh targeting high net worth clients in the east of Scotland as part of its expansion strategy. Four months ago the IFA announced it was issuing two million shares in a bid to raise £8m. It has 38 practices and 415 registered individuals.
The National Association of Pension Funds is calling on the Government to encourage more venture capital projects.In a submission to the Treasury, the NAPF says it is not pension funds' reluctance to invest but the lack of investment opportunity that is preventing more investment.The NAPF was responding to a call from Tony Blair for pension […]
Bradford & Bingley is searching for a new finance director following the surprise announcement that current incumbent John Smith is retiring. Smith, 53, has rocked the society, which is in the middle of a conversion attempt, with his decision to take early retirement. He has been finance director for 10 years and has agreed to […]
Employees at Johnson Fleming, in Bromsgrove, Worcestershire, are looking forward to trying out some dramatic new hairstyles on Wig Wednesday. A host of colourful wigs will brighten up the office on 20 May as staff support children and young people with cancer.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]