News

F&C shares have soared almost 23% this morning after Sherborne Investors, a group which specialises in turning around recovery situations, took a 5% stake in the firm.

Coventry Building Society has announced ITL Mortgages, the intermediary subsidiary of Stroud & Swindon Building Society, will close to new business when the two societies merge on 1 September.

Friends Provident UK life and pension sales rose 6% in the first half of the year, helping to boost the groups's pre-tax profits to £157m.

Buyout vehicle Resolution will continue to target further life company acquisitions after posting pre-tax profits of £203m in the first half of the year.

Gartmore has suffered almost £2bn of net outflows so far in 2010 as the firm continues to struggle following suspension and subsequent resignation of star manager Guillaume Rambourg.

Managers of the newly launched Secured Life fund are looking to roll out the income producing vehicle to selected retail investors through a UK plan manager.

Bank of America could offload its 34% stake in the world's largest asset manager BlackRock.

Eight in ten workers are not making the most of their employee benefits package,and blame employer communication, according to new research from Personal Group.

Chairman of Aviva Lord Sharman said today the rejection of a buyout bid from RSA was an undisputed board decision.

Paymentshield has launched a payment protection insurance, IncomeShield, which protects any financial outgoings.