• Home
  • Multi-Asset
  •  
    Retirement
    • Pensions
    • Income
    • Investment
    • Regulation
    • Estate planning
    • Equity release
  •  
    Your profession
    • Adviser tips
    • Business models
    • Companies
    • People
  • Regulation
  • Tax planning
  • Protection
  • Diversity
  • Events
  • Whitepapers
  • Industry blogs
  • EM and Asia spotlight
  • Newsletters
  • ESG spotlight
  • Sign in
  • Events
    • Upcoming events
      event logo
      Professional Adviser's Working Lunches in partnership with Orbis Investments - 2019

      Join us in March for the Professional Adviser Working Lunch series in partnership with Orbis Investments.

      • Date: 05 Mar 2019
      • Knutsford, Leeds, Surrey, Bristol
      event logo
      Professional Adviser Working Lunches 2019 - Baillie Gifford & First State Investments

      Professional Adviser is delighted to announce the launch of the new Working Lunches in partnership with Baillie Gifford and First State Investments. Travelling across the UK to provide valuable market insights for Senior Financial Advisers.

      • Date: 13 Mar 2019
      • Southhampton, Worcester, Durham, Norwich, Liverpool, Exeter, Sheffield, Leicester, Nottingham
      event logo
      Professional Adviser 360 2019

      The highly anticipated Professional Adviser 360 conference is taking place on 25th April 2019 at The Brewery in London.

      • Date: 25 Apr 2019
      • The Brewery Chiswell Street London EC1Y 4SD, London
      event logo
      Fund Manager of the Year Awards 2019

      The 2019 Fund Manager of the Year returns on Thursday 27th June 2019, Grosvenor House Hotel, London. Save the date.

      • Date: 27 Jun 2019
      • Grosvenor House Hotel 86-90 Park Lane Mayfair London W1K 7TN, London
      View all events
      Follow our events

      Sign up to receive email alerts about our events

      Sign up
  • Whitepapers
    • Find whitepapers
      Search by title or subject area
      View all whitepapers
  • Sign in
  •  
    •  

      Personalise your on site experience

      Download and use the apps

      Access your subscription from outside of the office

      Get relevant news and insight straight to your inbox

      Sign in
     
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • RSS
    • Twitter
    • LinkedIn
    • Newsletters
    • YouTube
  • Register
  • Industry blogs
  • EM and Asia spotlight
  • ESG spotlight
Professional Adviser
Professional Adviser
  • Home
  • Multi-Asset
  • Retirement
  • Your profession
  • Regulation
  • Tax planning
  • Protection
  • Diversity
 
  •  

    Personalise your on site experience

    Download and use the apps

    Access your subscription from outside of the office

    Get relevant news and insight straight to your inbox

    Sign in
 
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Professional Adviser

Abbey National considers Fleming Offshore and Cater Allen merger

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
0 Comments

Keen to invest in the rapidly expanding mass affluent market Abbey National will pay approximatel...


Keen to invest in the rapidly expanding mass affluent market Abbey National will pay approximately £106 million to buy Fleming Premier Banking.


Abbey National will buy the bank through its subsidiary Cater Allen Ltd, and may later merge the Fleming and Cater Allen divisions as one.


The acquisition will increase Abbey National's market share in the growing premier banking sector - which caters for those with incomes of between £30,000 and £100,000 - from 3% to 16%.


It will add £1.5 billion of depositions and 110,000 clients to Cater Allen's £1 billion and 26,000 clients.


Fleming Premier Banking will initially be run alongside Cater Allen, but in the medium term the two will be combined. The two companies operate in the same markets, offering current and savings accounts to the mass affluent market and small businesses. Both deal direct with clients and have particularly strong relationships with third party introducers.


Abbey National's profits from wealth management business grew by 36% in 2000. Mac Millington, managing director, business to consumer banking, Abbey National, says acquiring Fleming Premier Banking will allow the company to deliver its strategy more quickly.


Fleming Premier Banking was put up for sale following J.P.Morgan Chase and Co's decision not to remain in the UK retail banking market. This follows its purchase of the Flemings group last August. The J.P.Morgan private bank continues to deal specifically with high net worth individuals, families and trusts.


The deal is expected to be completed in July.

Related articles

  • Government will not 'force pace of change' in AE
  • AIG Life pays 99% life claims
  • Former Cazenove Capital CIO Jeffrey joins Kingswood
  • IA launches communication guide in response to FCA criticism
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

More news

Guy Opperman
  • Regulation
Government will not 'force pace of change' in AE

Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.

  • 20 February 2019
Abbie Knight
  • Your profession
Abbie Knight: Get your business ready for the £5.5trn wealth transfer

Four key areas to focus on

  • 20 February 2019
  • Insurer
AIG Life pays 99% life claims

And 94% for critical illness

  • 20 February 2019
Richard Jeffrey will join Kingswood as chairman of the investment committee
  • Investment
Former Cazenove Capital CIO Jeffrey joins Kingswood

Part of investment committee restructure

  • 20 February 2019
CEO of the IA Chris-Cummings
  • Regulation
IA launches communication guide in response to FCA criticism

Follows Asset Management Market Study

  • 20 February 2019
Back to Top

Most read

Schroders and Lloyds unveil financial planning business
Woman and apps
How online 'nudges' are encouraging women to invest
Sean Kulan: How prepared are solo-regulated firms for SM&CR?
Sonia Wheeler & Zoe Lyons
Why mentoring is key for advisers: 2018 WIFA Award winner Sonia Wheeler
What happens to performance after a 'star' fund manager leaves?
What happens to performance after a 'star' fund manager leaves?
  • About Us
  • Contact Us
  • Marketing solutions
  • Terms and conditions
  • Privacy and Cookie policy
  • RSS
  • Twitter
  • LinkedIn
  • Newsletters
  • YouTube

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017