News

Tony Yousefian is to join Albemarle Street Partners as an independent consultant from the beginning of October.

Neil Woodford has criticised his own industry for charging customers too much and paying managers too high a price for tracker-style performance, in an interview with the BBC.

The Financial Conduct Authority has created a dedicated fund supervision unit to regulate and monitor individual retail funds for the first time, in a bid to better safeguard investors and consumers.

Liontrust Asset Management has hired James Beddall from F&C Investments as co-head of international sales.

Lloyds Banking Group is to sell another 11.5% stake in its TSB business, leaving it with a 50% holding in what promises to become a challenger to the UK's existing retail banking industry.

Nick Marshall has left Smith & Williamson Investment Management after the firm overhauled its portfolio strategy recently.

A financial advisory business can permit its advisers to refer clients to specialist colleagues within the company and remain independent, following an about-turn by the Financial Conduct Authority (FCA).

EEA has told any investors unhappy with their holdings in the group's life settlements fund to consider making claims against financial advisers, and not to pursue the fund group itself.

Alliance Trust's head of equities Ilario di Bon has left the group to pursue other opportunities.

Hermes has partnered with Hong Kong based fund manager CSOP Asset Management to launch a China A Shares fund run by some of the country's own up and coming stockpickers.