FPI appoints two new bosses after Van Der Wielen departure
Life insurance giant, Friends Provident International, has named its new chief executive and chairman who will succeed John Van Der Wielen when he leaves the firm at the end of this month.
M&A Deals
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Barclays sells US wealth management business
Barclays has sold its US Wealth & Investment Management business to American investment bank Stifel Financial Corp for an undisclosed the sum.
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Most advisers prefer a successor to a sale on retirement -Russell
Financial advisers would prefer to find a successor that can take on their business when they retire, rather than pursue a sale, new research from Russell Investments suggests.
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RSA completes sale of China insurer Sun Alliance
London headquartered-RSA Insurance Group has completed the sale of its China-based business, Sun Alliance Insurance, as it continues to focus on its core markets and “clean up its past weaknesses”.
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UK private healthcare sector poised for wave of M&A
A common feature of any large, developed market is the hegemony of its largest participants. Grocery sales in the UK are dominated by the ‘big four’ supermarkets that, in the 12 weeks ending 4th January 2015, had a combined market share of over 74%. The publically owned ‘big oil’ super majors, big tobacco and telcos…
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AFH buys national IFA in £4.1m deal
AFH Financial Group has announced the purchase of Independent Financial Services in the firm’s largest ever acquisition.
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Aviva and Friends Life boost profits
British insurers Aviva and Friends Life Group, which agreed a £5.6bn merger last December, have both reported better-than-expected annual profits for 2014.
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Natixis set to buy French group DNCA
Natixis is in exclusive talks regarding a bid to add French asset manager DNCA Finance to its suite of global investment management affiliates.
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Shareholders approve Standard Financial buyout
Shareholders have unanimously approved Tavistock Investments’ acquisition of Standard Financial Group, merging to form one of the biggest advisory networks in the UK.
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La Française takes near 50% stake in UK firm
European asset manager La Française is to take a 49.9% stake in Alger Management, a UK subsidiary of American growth manager Fred Alger Management.
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Manulife Asia merger to target $19trn
Manulife Asia has merged its wealth and asset management divisions in order to target $19trn worth of untapped cash deposits throughout the region.
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Aviva to cut 1500 jobs in Friends Life takeover
Aviva has said its £5.6bn takeover of Friends Life will lead to around 1500 job losses.