Abbey sells Ssas business in MBO

The sale of Abbey's ssas administration and associated consultancy business, is expected to complete at the end of August, at which time it will be re-branded as Rowanmoor Pensions, a company set up by Ian Hammond and David Seaton, directors of James Hay Consultancy. Abbey agreed to the deal, following a review of its operations where it decided the unit does not fit with its priorities or future strategy, although Abbey will keep the rest of the James Hay branded business. It says the remainder of the James Hay brand will be unaffected by the announcement, adding it will remain the pri...