MIFID II costs blamed for profit fall at Aviva Investors

In its results published today (7 March) the firm revealed that MIFID II costs and an expansion of investment capabilities saw its total expenses climb by 9.3% to £447m in 2018 as profits fell by 12% to £150m. Meanwhile its top-line growth slowed, recording a 4% rise to £597m from £577m in 2017. The firm blamed the decline in profits on an "expansion of our global distribution reach and absorption of regulatory costs (particularly MiFID II) which we did not pass on to our clients". Aviva appoints Maurice Tulloch as CEO Aviva Investors explained it had invested in growing its inv...