News

Ex-Schroders head of UK and European credit Adam Cordery has joined Santander Asset Management after exiting Schroders last July.

Just Retirement annuity sales reached £800 million for the first time in the six month period ending 31 December 2012.

Adviser costs for the Financial Conduct Authority (FCA) have been raised 13% to £41.9m for 2013/14.

Legal & General (L&G) has exited the with-profits annuity market.

James Hay Partnership has joined forces with specialist wealth management firm Berry Asset Management to offer a self-invested personal pension to advisers.

Ingis Asset Management has hired Mira Bhogaita as portfolio manager on the UK equity team.

Nick Leeson, the trader whose wrong- way bets on Japanese stocks ruined Barings Plc, is joining a mediation firm to advise Irish borrowers looking to renegotiate debts in the wake of the real estate collapse, according to reports.

Activity in the UK housing market has hit a three-year high, surveyors report, supporting hopes of a revival that would help the economic recovery.

London & Colonial has raised concern over the continuing promotion of what it calls "questionable esoteric and overseas property developments" because of a loophole allowing IFAs to move such investments into unregulated environments.

The new City watchdog was last night fighting to defend its chairman amid accusations he enabled HBOS to pursue its reckless lending strategy.