Saturday, 7th November 2009

 

3 July 2009 - Press Briefing

Independent UK asset manager eyes acquisitions

F&C Asset Management is eyeing potential acquisitions after becoming a completely independent quoted fund manager for the first time in its 140-year history, according to a report in the Financial Times.

Friends Provident’s distribution of its 52% holding to shareholders frees F&C to join the select group of midsized listed groups - Schroders, Aberdeen and Henderson - competing to pick off the best of their peers.

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Most Read

  1. Barclays Wealth team leaves for Standard Chartered
  2. Lloyds wealth team quits after bonus worries
  3. UBS wealth unit takes £33m hit on rogue trades
  4. Citigroup plans 75 layoffs at wealth management division
  5. Morgan Stanley poaches six-member private wealth team from UBS

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

More from Portfolio

  1. Sotheby's 3Q loss widens
  2. Going local --- In a shaky art market, collectors stick close to home
  3. Tax amnesty proves a hit among Italians
  4. Citigroup to rebrand embattled alternative investments arm
  5. Debt defaults hit record but expected to slow

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