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.... Rival European financial centres, including Paris, Frankfurt and Luxembourg, are vying for the business – but Dublin is emerging as the most popular destination. Hundreds of banks, insurers, fund managers and other major City firms had until Friday to tell the Bank of England how they intend to cope in the event of a hard Brexit. ... [Read full article on Guardian ]
Saturday 15th of July 2017 03:00:09 PM
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....It is not clear if the appointment heralds a potential move upmarket, away from the online specialists that have been stealing market share from Topshop, once the leading name in high-street fashion. Industry insiders said the choice of Price as chief executive might have been driven by Los Angeles-based fund manager Leonard Green, which owns a 25% stake in Topshop. ... [Read full article on Guardian ]
Wednesday 19th of July 2017 05:46:19 PM
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....Now, for the first time in years, it is fair to ask: which side is London really on? And there is an uglier secondary question: are our politicians leaning on the regulators?. By proposing bending the London listing rules to attract Aramco, Saudi Arabia’s state-owned oil company, the Financial Conduct Authority has sown the seed of distrust and provoked fury among fund managers. ... [Read full article on Guardian ]
Sunday 16th of July 2017 06:00:14 AM
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Latest Finance News related to Fund Manager

Burberry's Paul Price to be new boss of Topshop image
Source : Guardian [Read Article] Wednesday 19th of July 2017 05:46:19 PM
....It is not clear if the appointment heralds a potential move upmarket, away from the online specialists that have been stealing market share from Topshop, once the leading name in high-street fashion. Industry insiders said the choice of Price as chief executive might have been driven by Los Angeles-based fund manager Leonard Green, which owns a 25% stake in Topshop. ...
HBOS inquiry: the time for delays is over | Nils Pratley image
Source : Guardian [Read Article] Tuesday 18th of July 2017 06:28:07 PM
.... Hurry up. City fund managers tell us they will get tough with companies that propose over-the-top incentive schemes for executives. ...
Aramco may be big, but fawning to Saudis diminishes London image
Source : Guardian [Read Article] Sunday 16th of July 2017 06:00:14 AM
....Now, for the first time in years, it is fair to ask: which side is London really on? And there is an uglier secondary question: are our politicians leaning on the regulators?. By proposing bending the London listing rules to attract Aramco, Saudi Arabia’s state-owned oil company, the Financial Conduct Authority has sown the seed of distrust and provoked fury among fund managers. ...
Dublin is streets ahead of EU rivals as City firms plan for Brexit relocation image
.... Rival European financial centres, including Paris, Frankfurt and Luxembourg, are vying for the business – but Dublin is emerging as the most popular destination. Hundreds of banks, insurers, fund managers and other major City firms had until Friday to tell the Bank of England how they intend to cope in the event of a hard Brexit. ...
City regulator plans rule change to allow Saudi oil giant's $2tn float in London image
.... One relates to how the company and the controlling shareholder conduct deals with each other, and the second allows investors a vote on independent directors. Chris Cummings, the chief executive of the Investment Association, which represents the City’s biggest fund managers, said: “Investors believe a premium listed segment without these investor protections is not a premium segment and will not provide the protections that investors expect. ...
Deadline looming for firms to give Brexit strategies to Bank image
Source : Guardian [Read Article] Saturday 8th of July 2017 03:00:11 PM
. Hundreds of banks, insurers, fund managers and other major City firms have until Friday 14 July to tell the Bank of England how they intend to cope with a hard Brexit. ...
Homebuyers desperate to know who really owns their freehold image
Source : Guardian [Read Article] Saturday 8th of July 2017 06:00:00 AM
.... The documents show that one of its directors until late 2013 was “The Honourable William Waldorf Astor”, the half brother of David Cameron’s wife, Samantha. Astor runs fund manager Long Harbour, which invests in residential freeholds, and is also director of HomeGround management, which administers freeholds on behalf of various landlords, including the Adriatic Land vehicles. ...
Massive cyber-attack could cost Nurofen and Durex maker £100m image
Source : Guardian [Read Article] Thursday 6th of July 2017 07:38:33 AM
....In its latest message to customers the company said its operations were now “running close to normal again”, but it was still experiencing some issues such as disruption to phone lines in some regions. Charlie Huggins, fund manager at Hargreaves Lansdown, said Reckitt should recover from the NotPetya attack. ...
China's $9tn bond market opens up to foreign investors image
Source : BBC [Read Article] Monday 3rd of July 2017 09:05:02 AM
....Their attraction to investors is that they usually offer a fixed rate of interest and come with the promise of eventual full repayment when the bond expires. Initially, Chinese bonds can be bought by banks, insurers and fund managers via Hong Kong. ...
Five minute guide to high-charging investment funds image
Source : Daily Express [Read Article] Sunday 2nd of July 2017 11:11:00 AM
. High-charging fund managers have been picking savers’ pockets for years, so there were good reasons to celebrate when the Financial Conduct Authority announced yet another crackdown last year. ...
Financial Conduct Authority offers a plaster instead of an antidote | Gina Miller image
....Yet the eagerly awaited FCA report into asset management published this week, that we had hoped would be an antidote to the industry’s ills, is yet another plaster. There was nothing final about it, nothing that will give investors assurance that their hard-earned money will achieve better outcomes, or that they can be assured that fund managers will be “clear, fair and not misleading” – the FCA’s own overarching principle. ...
FCA knows its scrutiny of the investment sector has only just started | Nils Pratley image
.... About time, too: all-in fees should mean what they say. The idea that fund managers should have at least two independent directors is sensible, though the FCA could have been bolder on numbers. ...
Jailing Barclays bankers won’t save us from another financial crash | Joris Luyendijk image
.... Others found new work after their time in politics was over, with Tony Blair taking a reported £2m a year as a fixer for JP Morgan. George Osborne, Britain’s former chancellor, was the latest big name to join the industry, netting about £650,000 for four days a month at the US fund manager BlackRock. ...
Barclays: who are the four charged bankers? image
Source : Guardian [Read Article] Tuesday 20th of June 2017 02:17:46 PM
....He then sold Barclays’ asset management arm and oversaw two share issues to raise capital from the royal families of Qatar and Abu Dhabi. After handing over to Bob Diamond in 2011, Varley retired to Hampshire, but still sits on the board of US fund manager BlackRock, and is chairman of Marie Curie Cancer Care. ...
City's Mansion House dinner cancelled after Grenfell Tower fire image
Source : Guardian [Read Article] Thursday 15th of June 2017 01:46:46 PM
....The annual Mansion House dinner for City grandees planned for Thursday night, due to include high-profile speeches by the chancellor and governor of the Bank of England, has been cancelled following the devastating fire at Grenfell Tower in west London. The chancellor, Philip Hammond, postponed his speech after concluding it would be inappropriateat this time to address the hundreds of bankers, fund managers and policymakers at the black-tie dinner. ...
Thames Water needs to clean up its act after yet more fines | Nils Pratley image
.... Second, he’s a Tory and the chair of the Treasury committee is traditionally chosen from the governing party. Third, one shouldn’t be fooled by the gentlemanly demeanour: Rees-Mogg knows how to dig for detail since he made a lot of money as a founder of fund manager Somerset Capital Management. ...
Tech shares keep sinking amid concerns sector is slowing image
Source : Guardian [Read Article] Monday 12th of June 2017 04:33:15 PM
....Mizuho Securities also cut its rating on Apple’s stock to “neutral” from “buy” on Monday, citing it has outperformed this year and enthusiasm over the “upcoming product cycle is fully captured at current levels”. Fergus Shaw, fund manager at Cerno Capital, told Reuters: “This is the nature of the tech sector. ...
London attack: Tech firms fight back in extremism row image
Source : BBC [Read Article] Sunday 4th of June 2017 03:05:46 PM
....Investors suggested that tech firms would be more willing to take further action against extremist content if shareholders and advertisers pressured them to do so. Jessica Ground, a UK fund manager at Schroders, told the BBC: "It's going to be an interesting debate how you put the pressure points. ...
UK councils under pressure over £1bn of tobacco investments image
Source : Guardian [Read Article] Wednesday 31st of May 2017 05:40:08 PM
....Deborah Arnott, chief executive of the health charity Ash (Action on Smoking and Health), said this left the door open for selling tobacco stocks. “Historically, investment in tobacco was seen as safe, promising good returns, but increasingly fund managers are realising investing in tobacco is neither acceptable nor sustainable,” she said. ...
Urinating dog joins Wall Street statue row image
Source : BBC [Read Article] Tuesday 30th of May 2017 05:26:11 PM
....Alex Gardega's creation - now removed - took aim at the little girl's left leg. He told the New York Post the Fearless Girl statue was "corporate nonsense" devised to promote the fund managers who commissioned it. ...
Whole Foods represents the failures of 'conscious capitalism' | Nicole Aschoff image
....25bn share buyback program and has promised to cut costs by $300m and raise same-store sales 2% by 2020. But according to its 13D filing, Jana Partners – whose founder and fund manager Barry Rosenstein recently bought the most expensive home in the US – wants even more. ...
Lloyds reaches landmark as government sells final shares image
Source : Guardian [Read Article] Tuesday 16th of May 2017 04:45:44 PM
....However, Gordon said the bank’s outlook was “set fair” and that it could produce stable earnings in the future. Neil Woodford, one of the City’s most respected fund managers, admitted last week he had bought shares in Lloyds after shunning the banking sector for many years. ...
Giant US fund manager to shake up UK investment market by halving fees image
. A US fund manager has thrown down the gauntlet to high-charging rivals and financial advisers by slashing fees to less than half the UK average. ...
Will Theresa May defend workers' rights? Don't hold your breath | Nils Pratley image
.... On the basis of her pledges about workers’ representatives and access to information, she is more interested in playing with words. “My viewpoint, and that of other like-minded institutional investors, has been heard but ultimately ignored – repeatedly,” complained fund manager Neil Woodford as he revealed last week that he has sold his GlaxoSmithKline stake. ...
Mohamed El-Erian: ‘We get signals that the system is under enormous stress’ image
....The speaker is Mohamed El-Erian, one of the biggest names in financial markets, who advised President Obama. Born in New York to Egyptian parents, he spent 14 years at Pimco, the world’s biggest bond fund manager. ...
Tory claims over energy price cap are just hot air | Nils Pratley image
Source : Guardian [Read Article] Tuesday 9th of May 2017 06:46:24 PM
.... That would be a reasonable stance. Montague won’t dare to be so bold, however, since anything less than full-blooded commitment tends to make investors, and the fund managers, nervous. ...
Euro slips after Macron wins French presidency image
Source : BBC [Read Article] Sunday 7th of May 2017 09:50:10 PM
....He has proposed a range of policies combining budget cuts and more labour market flexibility, with public investment and an extension of the welfare state. "Voters elected for Emmanuel Macron's pro-business policy proposals, which have the potential to unlock long-held-back investment and stimulate French markets," said Stephen Mitchell at London-based fund manager, Jupiter Asset Management. ...
Apple can’t just make iPhones for ever. What’s next? image
Source : Guardian [Read Article] Sunday 7th of May 2017 06:00:25 AM
....Corley also received a 27% vote against her re-election. She is the former chief executive of giant investment manager Allianz Global Investors, so this was a case of shareholding fund managers voting against one of their own. ...
Rich List 2017: UK's super-rich carry on making billions image
Source : BBC [Read Article] Sunday 7th of May 2017 12:04:04 AM
.... . "More women, more people from ethnic backgrounds, and more from surprising walks of life, with egg farmers and pet food makers lining up with hedge fund managers and private equity barons. ...
Voices of the 1%: how do Britain's highest earners feel about their income? image
.... Hard work is seen as key for achieving high earnings, and economic disadvantage was talked about as something that could be overcome through aspiration. One hedge fund manager said he was able to achieve huge earnings because he had “unique pricing power” similar to professional footballers. ...
If Barclays CEO is shown the door, let it be for the right reason | Nils Pratley image
.... If Barclays’ chief executive is to be ousted, let it be for the right reason. It is easy to understand why Standard Life and Aberdeen Asset Management, when they merge, would need to shell out a few million quid to fund managers whose services will no longer required. ...
Ocado shares boosted by M&S deal report image
Source : BBC [Read Article] Tuesday 2nd of May 2017 07:52:03 AM
.... . The fund manager also said that its planned merger with Standard Life was "on track" and should be completed later this year. ...
Sir Philip Green and wife took £433m hit last year, says rich list image
....”. He added: “The growing number of women we’re seeing in the Rich List is part of a greater diversity, with more people from ethnic backgrounds and more surprising walks of life, with soft-toy makers and dating-app developers lining up with private-equity barons and hedge-fund managers. ...
CBI warns against Brexit divorce bill row putting EU-UK trade ties at risk image
Source : Guardian [Read Article] Wednesday 26th of April 2017 11:14:03 PM
....”. The conference, organised by prominent leave campaigner and hedge fund manager Paul Marshall, struck a relatively upbeat tone about the impact of Brexit on the economy. ...
Will London survive as a financial centre after Brexit? image
Source : Guardian [Read Article] Wednesday 26th of April 2017 07:08:45 AM
.... The French president, François Hollande, was elected on a claim that the world of high finance was his enemy. Yet the Socialist mayor of Paris recently promised a “red, white, and blue carpet” for any hedge fund manager who buys a one-way Eurostar ticket to the Gare du Nord – a barbed reference to David Cameron’s promise of a red carpet for French bankers fleeing prohibitive tax rates, strikes and restrictive labour laws. ...
Reckitt Benckiser says Mead Johnson takeover on track image
Source : BBC [Read Article] Friday 21st of April 2017 07:17:50 AM
.... . Hargreaves Lansdown fund manager Charlie Huggins said this was the first quarter he could remember where the group had failed to increase its like-for-like sales. ...
Unilever sales rise on higher prices image
Source : BBC [Read Article] Thursday 20th of April 2017 08:45:55 AM
.... The firm said it expects to deliver sales growth of 3% to 5% for the year. "Unilever have been pushed by the Kraft Heinz approach into a more radical pace and scale of change than they had originally chosen for themselves," Steve Clayton, fund manager of the HL Select equity funds, wrote in an analyst note. ...
Brexit’s unpredictable outcome poses risk to global stability, says IMF image
Source : Guardian [Read Article] Wednesday 19th of April 2017 12:30:21 PM
....“Although there is a continuum of possible outcomes from Brexit negotiations, it is likely that financial firms’ ability to operate across jurisdictions will be curtailed to some degree,” the report said. Banking activities were likely to be the most affected by the loss of passport rights – which allow UK-authorised firms, banks and fund managers to conduct business in the other 27 states. ...
FTSE 100 suffers worst day since Brexit vote after May calls election image
Source : Guardian [Read Article] Tuesday 18th of April 2017 05:11:25 PM
....Confidence in the City about an easy victory for the Conservatives was behind much of sterling’s rise, with many speculating that a victory will give May a stronger mandate to plot a moderate line on Brexit and resist hardline anti-EU backbenchers. Keith Wade, chief economist at fund manager Schroders, said: “A successful election would give May the mandate to pursue her own Brexit strategy. ...
UK wine industry to plant 1m vines as sector bubbles with confidence image
Source : Guardian [Read Article] Tuesday 18th of April 2017 06:30:21 AM
....Rathfinny wine estate near Alfriston in East Sussex is one of the largest new vineyards, with up to 400 acres being cultivated. Its owner, the former London hedge fund manager Mark Driver, plans to release its first sparkling wine in 2018. ...
Drax investors rebel on bosses' pay image
Source : BBC [Read Article] Thursday 13th of April 2017 04:07:48 PM
.... . Earlier this year, one of the City's top fund managers warned that executive pay was "too high" and that investors were ready to take stand with firms that awarded hefty rises to bosses. ...
America owes China $1tn. That’s a problem for Beijing, and Trump knows it image
....Other loud voices are also demanding change, finally recognising that runaway executive pay is eroding trust in business. BlackRock, the world’s biggest fund manager, wants an end to directors’ pay that grows faster than ordinary employees’. ...
Why Silicon Valley wants to thwart the grim reaper | John Naughton image
Source : Guardian [Read Article] Sunday 9th of April 2017 06:00:00 AM
....It turns out that death is now perceived as just such a “problem”. Friend quotes a hedge-fund manager waxing lyrical on this. ...
Gender pay gap image
Source : BBC [Read Article] Thursday 6th of April 2017 11:50:56 AM
.... . Some have already volunteered the information - with Schroders fund managers taking the plunge as the first FTSE100 company to go public. ...
Deliveroo's verbal gymnastics show commonsense not on the menu image
Source : Guardian [Read Article] Wednesday 5th of April 2017 06:29:05 PM
....Did you miss Allied Minds, the wonder stock of late 2014? The pitch was potent: a technological lab with privileged access to the best technological ideas from US universities and federal government institutions. It always seemed odd that an investor in US startups was listing in London, but perhaps that was because Allied had been backed for years by lauded UK fund manager Neil Woodford and his former colleagues at Invesco, which only added to the appeal. ...
Boardroom pay: Theresa May must act to curb the excesses | Nils Pratley image
Source : Guardian [Read Article] Wednesday 5th of April 2017 06:32:04 AM
.... Others would describe the system as a sophisticated scam. Even enlightened fund managers are sick of LTIPs and share the committee’s view that “LTIPs impact on incentivising performance is unproven at best, and, at worst, they can create perverse incentives and encourage short-term decision-making”. ...
Ignore the nanny-state claims – credit card firms need to help those in long-term debt | Nils Pratley image
.... Graham Ruddick. Legal & General’s annual corporate governance report reveals that the fund manager voted against 118 pay resolutions and 18 named directors at company meetings in 2016 due to concerns about remuneration. ...
Apple exit sends UK chip firm's shares into freefall image
Source : Guardian [Read Article] Monday 3rd of April 2017 08:10:18 AM
....6p by lunchtime, giving the firm a market value of £275m – compared with more than £2bn in April 2012. Steve Clayton, fund manager at Hargreaves Lansdown, said: “The market has been spooked by the real chance that Imagination could soon swing into substantial losses if Apple do indeed sever their ties. ...
UK households’ savings fall to record low in warning sign for economy image
.... Inflation is expected to rise further to about 3% in the coming months as the sharp fall in the value of the pound since the EU referendum increasingly feeds through to higher shop prices. Rachael Griffin, a financial planning expert at fund manager Old Mutual Wealth, said the figures were a “wake-up call” for people who were prioritising short-term spending over financial security. ...
Plumbing firm Wolseley leads FTSE higher image
Source : BBC [Read Article] Tuesday 28th of March 2017 08:21:08 AM
....Separately, one of Tesco's biggest shareholders has warned that the retailer is paying too much for its planned takeover of wholesaler Booker. Schroders fund manager Nick Kirrage told the BBC that Tesco was paying a "premium" and he had "major concerns" about the deal. ...
Tesco warned over cost of £3.7bn Booker takeover image
Source : BBC [Read Article] Monday 27th of March 2017 06:47:15 PM
....7bn bid for wholesaler Booker is too generous. Schroders fund manager Nick Kirrage told the BBC's Today programme that Tesco was paying a "premium" and he had "major concerns" about the deal. ...
Two Tesco shareholders oppose £3.7bn takeover of wholesaler Booker image
Source : Guardian [Read Article] Monday 27th of March 2017 06:04:28 PM
....Tesco needs a majority of shareholders to vote in favour of the deal at a meeting, so the opposition of two significant investors is a setback for the company. Schroders, one of the City’s best-known fund managers, said in its letter to Allan that the price Tesco was paying for Booker would make creating value for shareholders “extremely challenging”. ...
Protesters target Connecticut's uber wealthy with 'tax bills' in bid to end loophole image
....On Saturday morning, a coachload of local workers, bullhorns in hand, took to Greenwich’s windy lanes for a protest organized by union-backed local community groups and billed as the “Lifestyles of the Rich & Shameless” bus tour. Chanting “El pueblo unido / Jamás será vencido” (“The people united / Will never be defeated”) and “Hey hey, ho ho, tax loopholes have got to to”, a couple of dozen protesters, gently shepherded by local police, left giant “tax bills” totaling close to $3bn for some of the world’s richest hedge fund managers. ...
Is an Isa the best home for your nest egg? image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:03 AM
What next for Next? Decline, if it comes, should still be profitable | Nils Pratley image
....There are honourable exceptions, of course, but do not expect a revolution if the government legislates to make all votes on pay binding. Most fund managers prefer symbolic revolts to the real thing. ...
Unilever is safe, but we need better defences against short-term capitalism image
.... She needs to understand that if even well-run companies like Unilever can be seen as vulnerable, the takeover game has changed. Debt is cheap, fund managers are judged on quarterly performance and 3G’s style of short-termism is fashionable and formidable. ...
Netflix and Tesla overrated? Yes, in this mad, mad world image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:01:32 AM
.... The risk (to the stock market) is that almost everything on Wall Street is priced for a positive outcome. The good news is that despite the FTSE 100 hitting new records, a lot of fund managers regard it as cheap or fair value, and certainly not excessively priced like Wall Street. ...
George Osborne is laughing at us as he takes his Evening Standard job | Aditya Chakrabortty image
.... This recruitment blows that idea out of the water. How will the London Evening Standard scrutinise a government when it’s run by a man who less than a year ago was its de facto number two – and who remains an MP for the ruling party? In the financial capital of the world, how much credibility will the Standard’s City pages command when their ultimate editor is in the pay of a giant fund manager? And how is journalism ever going to become an industry that represents its audience if one of its plum jobs can be lobbed by the son of a Russian oligarch into the lap of a public schoolboy who has never subbed, reported or edited?. ...
Student digs in Britain giving first-class returns image
Source : Guardian [Read Article] Thursday 16th of March 2017 03:40:59 PM
....Cuanalo said his investors were largely unaware of students concerns, but conceded that rents could not continue to be raised every year. This week Collegiate held a golf tournament near Cannesto promote the profitability of student accommodation to global fund managers who descend on the resort town every spring to scope out future investments. ...
Top executives may be brilliant – but their pay's about timing and luck image
.... Extending holding periods, and similar fiddles, can reduce the problem but the structure remains a mathematical nonsense. That is one reason why a few enlightened fund managers would be happy to abolish Ltips altogether and accept that executives’ basic salaries might increase as a result. ...
Forget the fuss – bumper paydays go on for UK's best-paid boss Sorrell | Nils Pratley image
.... He has run rings around the pay police. Star fund manager David Cumming’s departure from Standard Life – announced on Wednesday while the chancellor’s budget was still being digested – looks very odd. ...
The UK economy breaks more records – for all the wrong reasons image
Source : Guardian [Read Article] Thursday 9th of March 2017 06:40:24 PM
.... It notes that the budget changes announced by Hammond pale into insignificance when set against those introduced by George Osborne before he was sacked by Theresa May. The former chancellor – now picking up £650,000 a year for four days work a month at the fund manager BlackRock – pushed through benefit cuts that will mean some families will be £7,000 a year worse off than they would have been otherwise. ...
Osborne to earn £650,000 a year advising US financial firm image
Source : BBC [Read Article] Wednesday 8th of March 2017 08:31:00 PM
. Former Chancellor George Osborne is to be paid £650,000 a year for advising the US fund manager Blackrock. ...
Standard Life's David Cumming to leave firm after 18 years image
Source : Guardian [Read Article] Wednesday 8th of March 2017 03:26:10 PM
. Standard Life has announced the departure of one its highest profile fund managers just days after it revealed an £11bn tie-up with Aberdeen Asset Management. ...
Girl statue faces Wall Street bull to fight gender inequality image
Source : BBC [Read Article] Wednesday 8th of March 2017 12:01:19 PM
....A statue of a young girl has been placed in front of Wall Street's iconic bull, to call attention to gender inequality and the pay gap in the corporate world. The statue was commissioned by one of the world's largest fund managers. ...
Standard Life's Aberdeen deal means job losses – but avoids US takeover image
....An all-Scottish deal at least makes the wider politics easy. There will be job losses but it must be better for Scotland that Aberdeen is not consumed by a US firm and instead becomes part of one that will be Europe’s second largest fund manager. ...
Gina Miller urges FCA investigation into fund management 'price fixing' image
.... It has called for more transparency and an end to hidden fund charges and mis-selling in the City of London’s asset management industry. Miller, who runs SCM Capital with her hedge fund manager husband Alan, said the vast majority of funds sold to small investors charge an annual management fee of 0. ...
Standard Life and Aberdeen seek to tie in key staff in £11bn merger image
Source : Guardian [Read Article] Monday 6th of March 2017 08:06:34 AM
....Standard Life and Aberdeen Asset Management are to offer lucrative lock-ins to key staff to stop them walking out following their £11bn deal to create a fund management powerhouse. The deal to create Britain’s biggest fund manager with £660bn under management has sparked fears that key staff will quit and that hundreds of jobs will be cut in the enlarged businesses as it seeks to cut £200m a year in costs. ...
Aberdeen Asset Management and Standard Life confirm merger terms image
....Fund managers Aberdeen Asset Management and Standard Life have agreed terms for an all-share merger. The move will create one of the UK's largest fund managers, overseeing assets worth £660bn. ...

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