the leader

Our industry is built on innovation and the willingness to support and nurture new ideas.

It is not surprising with the national debt at around £156bn the new coalition Government has focused on deficit reduction ahead of encouraging further long-term savings in its first few weeks in office.

Empire building can be a fine pursuit and is the reason why some of the world's great companies are the money-making, dividend-paying growth vehicles they are today.

"It is a day in the sun for asset allocators," said Curt Custard, UBS's head of global investment solutions, as his group announced the launch of a multi-asset product for the DB pension market last week.

At the beginning of this year, who would have bet on the potential disintegration of the euro?

Gordon Brown has left office and few in the financial services industry will lament his departure.

The headlines proclaim now the real work starts. After months of debate and ducking of the issues there is no hiding from hard decisions about cutting public spending and reducing the deficit.

There is every danger the UK could be turning into a nation of savers with last week's IMA figures revealing the strongest savings into Isas for nearly a decade.

"You may as well praise a man for not robbing a bank."

Last week saw major indices hit 18-month highs with many now comfortably sitting at pre-crash levels.