L&G prepares for RDR

Legal & General (L&G) is anticipating a drop-off in sales through financial advisers over the coming months and into early 2013 as firms concentrate on developing their business models for retail distribution review (RDR) implementation. In its Q1 interim management statement today, the provider suggested it is

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Man Group Outflow – $1 Billion in Q1 2012

Man Group Plc (EMG), the world’s biggest publicly traded hedge fund manager, reported that clients withdrew a net $1 billion in the first quarter, while costs such as employee bonuses ate up more cash than analysts expected. Source Bloomberg: read full article here;   

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Unigestion – Reto Germann

Unigestion has announced a strengthening of its institutional presence in Germany, with the hiring of Reto Germann from Credit Suisse. Germann will work with the $13.6bn Swiss manager’s institutional clients team focusing on Germany and Austria. Some 90% of Unigestion’s clients are institutional, the remaining 10 are

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Cofunds investment in RDR

This article includes a great cost insight into the RDR defensive strategies – with Cofunds declaring they will continue investment during 2012 in preparation for the implementation of the retail distribution review (RDR).  The funds platform saw expenses increase by more than £9m during 2011, as a

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HSBC impact on jobs from RDR

In a statement, HSBC says the underlying cost of providing banking services in Britain is rising because of changes to the regulatory framework, and mentions the FSA’s RDR as one example of this. The group predicts the RDR will have a “major impact” on its business levels

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Old Mutual and Skandia to merge

Old Mutual Asset Managers UK and Skandia Investment Group (SIG) are to be merged into a single business, to be headed by Julian Ide. According to parent company Old Mutual, the combined business will be “the investment engine” behind its wealth management business. Ide, who is currently

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BNY Mellon fills Feeney vacancy with PeterPaul Pardi

BNY Mellon has appointed PeterPaul Pardi as the global head of distribution for its investment management business. Pardi will be based in London and report to Curtis Arledge, chief executive of BNY Mellon Investment Management, and Mitchell Harris, president of BNY Mellon Investment Management. He replaces Paul

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