Santander

Santander Bank has confirmed it will set up two UK insurance businesses, Santander Insurance UK and Santander Insurance Services UK, in the first quarter of next year.

Santander Asset Management has appointed Melanie Newton as an equity dealer in its UK equities team.

John Kelly, the man behind the group's multi-manager proposition, has left Abbey to pursue other opportunities.

Santander Asset Management has recruited four managers in a bid to fortify its UK equity team.

Abbey's wrap proposition is to rebrand as James Hay Wrap on 30 October, and will infuture rely on core software from InfoComp.

Norwich Union yesterday stopped imposing exit penalties on with-profits pension holders who delay their retirement dates and Friends Provident is considering whether to follow suit, says the Daily Telegraph .

THE PENSIONS CRISIS has failed to dent people's desire to take early retirement, as a study the number of men drawing their pensions at or before 60 has dropped, says the Guardian .

BANCO SANTANDER would have to lay off 8,000 Abbey employees to achieve its £300m synergy targets, reports this morning's Daily Telegraph.