AEGON'S CHIEF executive David Henderson has told this morning's Scotsman newspapers he is considering ditching the Scottish Equitable name to eliminate "brand confusion" across the group.
Along with discussing the status of the brand, Henderson revealed Aegon UK’s first two sets of solvency numbers under the Financial Services Authority’s new capital adequacy rules are healthy, even thought the number have not actually been unveiled, says the Scotsman.
The firm is also planning to maintain its current line of business and has no intention of expanding the product range beyond life and pensions, asset management and intermediary distribution.
ABBEY'S CHIEF executive Luqman Arnold was also under fire yesterday when the firm unveiled its latest financial figures, as shareholders are somewhat unhappy about recent losses and their own recent rebranding, says the Daily Telegraph.
Arnold and Abbey chairman Lord Burns came under attack at the annual meeting over Abbey's two years of heavy losses, executive pay awards and controversial rebranding.
As well as yet more losses and falling share price, investors seemed particularly upset about last year's £11m rebranding, which saw the banking group shorten its brand name from Abbey National to Abbey, set out plans to rebrand Scottish Mutual and Scottish Provident with vivid new branch designs and business letters rewritten in everyday English.
Executives at some of the UK’s high street retailers still face the prospect of being called before the Commons Treasury Select Committee to justify the high charges on store cards, says this morning’s Times.
Chairman of the committee John McFall suggested during a debate yesterday in the House of Commons threatened to call other firms before the Committee after the OFT found lucrative profit-sharing agreements between card issuers and leading high street brands.
The Times quotes McFall as saying: "It would be great to have the chief executives of retailers such as Debenhams and Laura Ashley appear before the committee. They make guarantees on the quality of the perfumes and trainers that they have in their stores, why can’t they insure the same quality for their financial products?"IFAonline
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