QUICK QUIZ

Virgin Money returned Northern Rock to profitability in the final four months of 2012 in what has been described as a "transformational year" for the combined business.

LIBERATED?

Her Majesty's Revenue & Customs (HMRC) has upheld the VAT exemption on discretionary fund manager transaction fees.

Thomas Miller Investment has poached Matthew Lonsdale from Psigma to give him the role of head of intermediary business development.

The majority of small and medium sized enterprises (SMEs) have no key worker protection in place, despite death of a business owner emerging as the most disruptive potential scenario a business can face.

Axa Wealth has added 850 clean share classes to the Elevate platform, meaning that 90% of funds on the platform are now available with this option.

QUICK QUIZ

Axa Portfolio Services - the parent company of the Axa Elevate platform - has reported a pre-tax loss of £29.9m for the year ending 31 December 2012, representing a 10% improvement on the £33.5m loss recorded for 2011.

Lloyds Banking Group said it has reduced its outstanding capital requirement to below £2bn, following the £8.6bn aggregate shortfall figure announced yesterday.