FCA approves first non-bank UK depositary
Indos Financial has become the first non-bank entity to become a fully-fledged independent UK depositary post-AIFMD.
Companies
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FTSE 100 hits record high as supply glut fears recede
The British blue-chip index climbed to 7,458.5 out of the gate on Monday morning, as the price of oil surged.
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BT shares fall as it slashes jobs in £300m overhaul
BT’s shares suffered a setback today following the announcement the telecoms giant was to cut 4,000 jobs as part of an overseas shakeup.
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Executive shake up for Succession group
Succession has bolstered its executive team of both its wealth management and platform businesses.
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Old Mutual Wealth acquisition adds £120m in assets
Old Mutual Wealth has boosted its assets under advice by £120m following its acquisition of a Cheadle-based financial adviser.
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SLI reveals £2.8bn GARS outflows
Outflows of £2.8bn from Standard Life Investments’ Global Absolute Return Strategies fund blighted flows for the first quarter of 2017 according to a trading update.
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800 jobs to go in Standard Life/Aberdeen merger
Standard Life Investment and Aberdeen Asset Management will make 800 job cuts once their £11bn merger deal is finalised.
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‘Mortified’ Train sticks by Pearson as FGT struggles
Nick Train is refusing to remove troubled publisher Pearson from Finsbury Growth & Income Trust as his fund failed to beat the FTSE All-Share over the half year.
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Fairstone Group completes buyout of Welsh adviser
Fairstone Group has completed its acquisition of financial adviser firm DHD Wealth Management.
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FTSE 100 surges after Shell and HSBC report
The FTSE 100 smashed the 7,270 mark on Thursday morning after Shell reported earnings growth and HSBC’s profits beat analyst expectations.
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7IM reports tenth year of consecutive AuM growth
2016 was Seven Investment Management’s (7IM) tenth consecutive year of growth in assets under management.
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Chase de Vere to ramp up recruitment and M&A
Chase de Vere has said it plans to recruit more financial advisers and explore further acquisition opportunities.
