Baillie Gifford to shutter international fixed income business to focus on UK client base
While the firm is planning a round of redundancies, according to reports
Companies
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Abrdn confirms 500 redundancies in cost-cutting ‘transformation plan’ amid £12.4bn outflows
£150m of costs will be cut across the business over two years
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Ontario Teachers’ completes majority stake purchase of 7IM from Caledonia Investments
Agreement was first announced in September last year
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AJ Bell advised customers reach 161,000 as assets jump to £76.2bn
Total customers rose 12% in the year to reach 484,000
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Brooks Macdonald MPS assets climb to £3.9bn but firm sees £100m net outflow
BM Investment Solutions offering for advisers contributed to 7.3% rise
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Rathbones FUM reaches £105bn despite outflows from Investec W&I
Market and investment performance added £4.9bn to funds under management and advice in Q4
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Liontrust suffers £1.7bn of net outflows in Q4 due to ‘negative investor sentiment’
The firm’s UK retail funds and model portfolio service was hardest hit, having suffered a net outflow of £1.4bn
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Nick Train lists Diageo and Burberry as biggest disappointments in 2023
Finsbury Growth and Income underperformed for the third year running
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PwC: Half of CEOs think their businesses will not survive the next decade
AI could make half of all business models redundant within 10 years
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Terry Smith questions AI boom in annual shareholder letter
Smith ‘suspending judgement’ on who eventual winners of the trend might be
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Mattioli Woods eyes ‘robust acquisition pipeline’ as assets inch down to £15.2bn
Group revenue up 8% to £59.1m in the second half
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Tavistock Investments profits climb as number of advisers reaches 400
Revenue rose 19% to £20.6m
