Hector Sants has warned London's position as a global financial Centre is under threat due to the UK financial sector not rethinking its business models quickly enough in the face of political upheaval and regulatory change.

The majority of people who have not started saving for a pension blame lack of confidence, rather than unwillingness to save as the reason for delaying, research has found.

The Pension Income Choice Association (PICA) is continuing to lobby for trust-based members to be covered by the open market option (OMO) as standard.

More than a quarter of SME owners would use independent financial advisers to discuss business funding, but most remain unaware they could source finance directly through their pension funds.

The introduction of Solvency II could see annuity rates, currently at record lows, drop a further 20%, Deloitte has warned.

SIPP provider James Hay Partnership has linked with True Potential to offer access to the James Hay iSIPP via the True Potential Wealth Platform.

A new, standalone British bank under a revived TSB brand could be brought to market after Lloyds Banking Group struggles to complete the sale of its 632-branches known as 'Verde'.

Business secretary Vince Cable is to take action against Fred Goodwin and a small number of other former Royal Bank of Scotland (RBS) directors over the bank's collapse.

Bank of Scotland has appointed Mattioli Woods to operate its £140m Pilgrim SIPP.

Standard Life has restructured its top tier management team, with Paul Matthews taking additional responsibility for the firm's European operations.