SJP’s Ralph on acquisitions, opportunities and vertical challenges
Fresh from an acquisition spree in the UK, wealth manager St James’s Place is taking its pioneering business model east in its next phase of growth.
Industry
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Demand for income security sees MetLife’s AUM hit £5bn
Strong demand from advisers for innovation in retirement and investment solutions has seen MetLife’s assets under management pass £5bn ($6.5bn, €5.8bn), the company said on Friday.
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Jersey IFA investigated for selling Providence Investment Funds
Jersey’s financial services regulator has launched an investigation into the sale of the Providence Investment Funds to clients of Jersey-based independent financial adviser firm Lumiere Wealth.
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SEC charges former pro US footballer over $10m Ponzi scheme
A former professional American football player has been charged by the US Securities and Exchange Commission for running a $10m (£7.7m, €9m) investment fraud that promised returns as high as 20%.
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PEOPLE MOVES: Schroders, Old Mutual, Royal London
Schroders has appointed a head of investment trusts for its UK intermediary business, while three non-executive directors at Old Mutual Wealth are to step down. Royal London Asset Management has added four to its global high yield team.
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Old Mutual Int’l suffers amid sharp decline in Qrops sales
Old Mutual International saw a sharp drop in sales of qualifying recognised overseas pension schemes (Qrops) following the introduction of UK pensions freedoms in April last year.
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Zurich nabs Howell from Generali to head up Asia Pacific
Jack Howell, the former chief executive of Asia for Italian insurer Generali, is to join his former boss Mario Greco at Zurich as chief executive of Asia Pacific.
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Legal & General sells Cofunds to Aegon
Legal & General Group has sold its investment platform Cofunds to Dutch insurer Aegon.
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Single premium sales drive Singapore life industry growth
A strong second quarter saw Singapore’s life insurance industry report 13% growth in new business premiums between January and June 2016, with single premiums up 28% compared with a year ago.
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UK insurers’ fortunes vary in investment industry first half
The half year numbers out from three of the UK’s largest insurance companies over the past few days illustrate the increasing importance of backing the right asset management horse.
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Asia spares Prudential’s blushes in half year results
Growth in its Asian operations helped UK insurance giant Prudential post a forcast-beating 6% rise in first-half operating profit to £2.06bn ($2.69bn, €2.4bn), helping offset a drop in profits from its M&G asset management business.
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Solvency II ‘life support’ is a step in the wrong direction
Solvency II is a step in the wrong direction that will keep some companies alive that would be better giving themselves a decent burial and consolidating themselves out of the market now, according to industry consultant Ned Cazalet.