Difficult market conditions have forced Foreign & Colonial (F&C) to close down its intermediary sale...
Difficult market conditions have forced Foreign & Colonial (F&C) to close down its intermediary sales unit, with eight staff leaving the group as a result.
The layoffs include five regional salesmen, two of their assistants and one member of the group's marketing division. Jamie Farquhar, head of retail at F&C, said the move does not signify that the group is moving away from its retail operation as the revenue brought in by the three open-ended funds, Blue, With Prospects and Higher Income, is still very important.
F&C will continue to have a full broking service support team to look after intermediaries and other clients, he added.
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