News

Friends Life International has suffered a 20% drop in sales volumes on the same period in 2011. Sales figures were £51m in Q1 2012 compared to Q1 2011 sales of £64m.

Legal & General (L&G) has named group chief financial officer Nigel Wilson as its new chief executive, replacing the outgoing Tim Breedon, who departs from the role next month.

Spain has taken a 45% stake in Bankia, the country's third largest bank, following another day of sharp falls in the country's equity markets and gains in its bond yields.

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Aegon-owned national IFAs Positive Solutions and Origen have reported a combined £1m loss in the first quarter of the year, down from £2m in the final three months of 2011.

Heartwood Investment Management has set out plans to forge partnerships with 100 adviser firms as part of a fresh assault on the intermediary sector.

Yields on UK government debt were trading at an all-time low on Wednesday amid fresh panic in Europe, which sent equity markets reeling.

Hundreds of thousands of public sector workers are expected to join a 24-hour strike on Thursday against proposed pension changes.

A bankrupt who lost a High Court battle over whether he should hand over his pension to creditors will appeal the decision this autumn.

The regulator has set out the circumstances under which the new Financial Conduct Authority (FCA) will exercise its temporary product intervention powers.