Banks gear up to report on the first half of a tough year August 2, 2009 The market’s attention is likely to be dominated this week by the banks, which will be reporting their first-half results during the five days. But there will be plenty more for investors to sink their teeth into, with insurers, bookmakers and industrials all on the radar too. Barclays and HSBC kick the week off this [...]
Axa Healthcare reduces its own medical cover for staff July 27, 2009 AXA PPP, the UK health insurer, has decided to reduce the amount of private healthcare provision it gives its own employees. As part of a consultation process with its workforce, the group is introducing restrictions to its cover to make it less costly. It has told employees the new cover will incorporate a so-called six [...]
CITY MOVES WHO’S SWITCHING JOBS July 5, 2009 Canada Life International The wealth management firm has appointed Mark Armstrong as its new head of operations. Armstrong joins from Axa in the Isle of Man, where he was director of technical and proposition support. He has over 20 years of experience in offshore financial services, having also previously worked as finance director at Allied [...]
CITY MOVES WHO’S SWITCHING JOBS July 2, 2009 FSSCThe Financial Services Skills Council has appointed Simon Ellis to lead an independent review of its future role and strategy. Ellis joins from Fidelity’s multi-manager business, where he was a managing director. He was also previously head of UK retail at AXA Investment Managers and was until recently a board director of the Investment Managers [...]
Larry Fink’s BlackRock is here to stay June 14, 2009 ANALYSIS: THE WORLD’S LARGEST ASSET MANAGER WILL BE A MAJOR PLAYER IN LONDONBLACKROCK’S acquisition of Barclays Global Investors (BGI) will see it become the world’s largest asset manager with $2.89 trillion (£1.75 trillion) under management, more than twice the funds run by number-two group State Street. The new firm, BlackRock Global Investors, will be one [...]
CITY MOVES WHO’S SWITCHING JOBS May 31, 2009 Old Broad Street ResearchThe investment funds research and consultancy firm has appointed Gill Hutchinson as head of investment consultancy and Nick Whalley as head of investment research. Hutchinson has managed the firm’s key investment consultancy relationships for many years, while Whalley joined OBSR’s research team in 2005. In his new role, he will be assisted [...]
Aviva Australia buyers circle May 25, 2009 NAMES are emerging as potential buyers of Aviva’s Australian life assurance business, which is expected to raise around A$1bn (£492m). National Australia Bank and Westpac have emerged as front-runners for the arm, after the former successfully raised £500m last Friday by issuing five-year unsecured notes. Insurance groups Axa Asia Pacific and Australia’s AMP are also [...]
Suite returns: why it’s a good time to check yourself into the hotel industry August 14, 2008 Hotel rooms are one area of property investing that are bucking the credit crunch, writes Timothy Barber If we’re thinking positive, the slowing economy presents an opportunity to get a bit creative with investments. The alternative asset market has become more and more prominent in 2008 as investors look for areas offering stable returns in [...]
Axa avoids worst of the fallout August 8, 2008 Axa, Europe’s second-biggest insurer, reported lower first-half net profit yesterday although its earnings still managed to beat analyst expectations. Net profit fell 32 per cent to €2.16bn (£1.7bn) partly due to write downs on fixed income assets. The French insurer revealed a €237m impact on asset backed securities and a €502m hit on fixed income [...]
UK industry is modern, high-tech and a good bet for savvy investors July 25, 2008 Funds and ETFs can help get you exposure to an area that promises to flourish, writes Phil Thornton Barely a day goes by without a new portent of doom and gloom for some part of the UK economy, whether for financials, retailers or housebuilding. But one sector may offer a glimmer of hope during a [...]