UK financial services face talent crisis over social mobility and “boring” reputation April 21, 2019 The UK’s financial services sector is facing a talent crisis as would-be employees are put off by its reputation for being “boring”, a new survey has revealed. Research carried out by Big Four auditor KPMG showed 65 per cent of the UK population would not consider taking a job in the financial services sector. Read [...]
Asset management firms urged to increase stewardship efforts April 16, 2019 Asset management firms have been urged to increase the level of engagement and guidance with the firms they invest in. Institutional investors only have “one-hand” on the wheel in regards to stewardship, advisory firm Willis Towers Watson warned in a report published today. Read more: Tatton Asset Management shares plummet as consulting arm under pressure The [...]
City of London Investment Group boosts funds by 14 per cent April 16, 2019 City of London Investment Group announced that funds under management jumped 14 per cent in the first quarter of 2019 to £4.1bn. The group reported funds under management of £4.1bn, an increase from the £3.6bn recorded at the end of last year. Read more: Emerging markets shake City of London Investment profits The asset management [...]
Retail veteran Terry Duddy set to replace Bucher as Debenhams boss April 14, 2019 Retail veteran Terry Duddy is being lined up to take over as chief executive of department store chain Debenhams as administrators pin their hopes on the troubled firm’s interim chairman to lead a major restructuring plan. Read more: Revealed: All 15 LK Bennett stores set to close in Chinese sale Current chief executive Sergio Bucher is [...]
Hargreaves Lansdown and the Share Centre acquire £1.5bn of JP Morgan assets April 9, 2019 Hargreaves Lansdown and the Share Centre have agreed to buy £1.5bn in assets from JP Morgan Asset Management as the firm shifts its focus from direct-to-consumer to fund management. Read more: JP Morgan plans to cut hundreds of asset and wealth management jobs Hargreaves Lansdown has acquired up to 33,000 of JP Morgan’s retail managed fund [...]
Impax Asset Management boosts AUM by 15 per cent April 8, 2019 Impax Asset Management, which focuses on sustainable investments, has boosted assets under management by 15 per cent in the first three months of this year. The London-based firm said AUM increased from £11.5bn at the end of December last year to £13.2bn at the end of March 2019. Read more: Asset management firm Miton boosts [...]
HSBC Global Asset Management hunts for new chief executive April 4, 2019 HSBC is searching for a new chief executive for the bank’s $444bn asset management arm as it attempts to turn the division into an industry leader. The bank has appointed headhunters to search for a replacement for current HSBC Global Asset Management chief executive Sridhar Chandrasekharan, Sky News reported. Read more: HSBC boss John Flint [...]
Dormant assets scheme could be expanded following government report April 4, 2019 A scheme to reallocate dormant assets to charitable causes could be extended to the investment and wealth management sector following the publication of a government report. An independent report commissioned by the government found that extending the scheme to other financial services, also including the insurance and pensions sector, could "significantly expand the money available to good [...]
Superdry board in mass resignation as Dunkerton takes the reins April 2, 2019 Superdry suffered a boardroom exodus tonight after the troubled retailer’s co-founder won an audacious bid to reinstall himself onto the firm’s board. In a shock move this evening, Superdry’s entire board – including its chief executive and chairman – revealed plans to step down after Julian Dunkerton won an investor vote which will see him [...]
JP Morgan plans to cut hundreds of asset and wealth management jobs March 28, 2019 JP Morgan Chase & Co is cutting hundreds of jobs across its asset and wealth management division. The investment bank plans to dismiss employees in support roles and some wealth management staff across the firm’s global business as part of an annual review. Read more: City banks back women's wealth scheme “It is normal course of [...]