Tavistock to sell two business arms to fund ‘potential future acquisitions’ and buy back shares
Some 30% of shareholders have already voted in favour of the sale to Saltus
Some 30% of shareholders have already voted in favour of the sale to Saltus
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New trade body will co-ordinate and promote the industry’s interests
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‘We are redefining our strategy to reignite growth’, incoming CEO Andrea Montague said in the firm’s annual results
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IFRS losses after tax amounted to £56m, compared to a £309m profit during H2 last year
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The increase was driven by improved profitability in its General Insurance businesses
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Victory Park Capital manages $6bn assets
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The fees involved with merging its investment management and capital divisions proved costly, weighing on its half-year results
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Company also achieved a 28% increase in adjusted profit
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The business was impacted by outflows and lower margins in its Investments arm
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Plans for cost base reduction aim to reach full run-rate savings of £100m by 2027
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Underlying net outflows were just £0.2m, excluding the impact of the departures, with positive flows in retail and wholesale
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