Regulator fines AXA £1.8m for failing to give customers suitable investment advice September 13, 2013 AXA Wealth Services has been hit with a £1,802,000 fine by regulators "for failing to ensure it gave suitable investment advice to its customers." The Financial Conduct Authority (FCA) investigated cases between September 2010 and April 2010 at branches of Clydesdale, Yorkshire Banks and West Bromwich Building Society. AXA sold approximately 37,000 investment products to [...]
City Moves for 13 September 2013 | Who’s switching jobs September 12, 2013 Aviva Investors The investment management business has appointed Andrew Davey as assistant fund manager to its Lime Property Fund. He joined the company in 2007. Deloitte Real Estate Steve Johns has joined the real estate business to head its City leasing team. Johns previously spent 17 years at Cushman & Wakefield, and was most recently [...]
City Moves for 11 September 2013 | Who’s switching jobs September 10, 2013 Covington The law firm has announced the appointment of Charlotte Hill as a partner in its London office. Hill specialises in financial regulatory matters. She was most recently a partner at Stephenson Harwood. PwC Daniel Hepburn has joined the reward team at the professional services firm, where he will advise on the design and implementation [...]
City Moves for 09 September 2013 | Who’s switching jobs September 8, 2013 Ernst & Young The professional services firm has hired Sheila Nicoll as a senior adviser in its asset management practice. She was most recently director of conduct policy at the Financial Services Authority. Prior to that, she was deputy chief executive of the Investment Management Association. Coutts The private bank has announced the appointment of [...]
City Moves for 06 September 2013 | Who’s switching jobs September 5, 2013 Dentons The law firm has recruited Babette Marzheuser-Wood as a partner in its technology, media and telecommunications division. She joins from Field Fisher Waterhouse. Colliers International The commercial real estate services firm has appointed Simon Ford as a director in its corporate solutions team for Europe, the Middle East and Africa (EMEA). He joins from [...]
Competition watchdog warns of lack of competition in UK private healthcare market August 28, 2013 The UK Competition Commission has warned of a lack of competition among local private healthcare providers, leading to higher insurance premiums and patient charges (full report). The Commission said it had identified 101 hospitals facing little local competition, some in clusters under the common ownership of major hospital groups like BMI, Spire and HCA. Competitors [...]
Irish central bank appoints new financial regulator from Banque de France August 21, 2013 The Irish central bank has appointed Cyril Roux as deputy governor of financial regulation to replace Matthew Elderfield. Roux will join from the Banque de France, where he holds the position of first deputy secretary general of the French prudential supervisory authority for banks and insurance companies (Autorité de Contrôle Prudentiel et de Résolution) – [...]
Luton Airport snapped up by Aena and Axa August 1, 2013 LUTON Airport is set to expand after the rights to run the airport were snapped up by Spanish infrastructure group Aena and Axa’s private equity arm. Aena has teamed up with Axa to buy the remaining 90 per cent from fellow Spanish firm Abertis in a deal worth £433m. State-owned Aena already held 10 per [...]
City Moves for 19 July 2013 | Who’s switching jobs July 18, 2013 AXA Real Estate The real estate investment management company has appointed Nathalie Charles as regional head of asset management and transactions for the southern region. She joins from EDF, where she was managing director of corporate real estate. Shawbrook Bank The bank has made three hires to its wholesale lending division. Kieran McSweeney, Marc Sefton and [...]
Top insurers allay fears of dividend cut February 22, 2013 MAJOR European insurers yesterday hiked their year-end dividend, reassuring investors who feared the industry may cut returns in the face of low bond yields. Axa and Swiss Re both raised their payout as they announced bumper full-year results for 2012, while Germany’s Allianz maintained its healthy return to shareholders. Insurance investors were spooked on Wednesday when [...]