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The Rocky road goes ever on

Recent press reports about a men-only 3i party for bankers have an interesting footnote.

The party, featuring Agent Provocateur models, brought charges of sexism in the City against the company, which was sad in a way because 3i’s chairman is the talented and respected Baroness Hogg, a former financial journalist who, as head of John Major’s policy unit, once addressed the Building Societies Association annual conference and impressed attendees.

As The Sunday Times observed, she had already been embarrassed by internal problems at 3i.

“”Last month it ousted Philip Yea, its chief executive, with a £773,000 pay-off after a poor run,”” the paper noted. “The new chief executive is Michael Queen, a former non-executive director of Northern Rock.”


Arrears on sub-prime mortgages hit record high

Arrears on sub-prime mortgage loans in the UK hit a record high of 28.6% for Q4 last year, research from Standard & Poor’s shows.The Q4 report from S&P Ratings Services reveals that the comparative figure for Q3 was 25.1%.Outstanding arrears over 90 days are now at 12.5%, up from 10.3% the previous quarter.Repossession cases have […]

Singled out

The Financial Services Authority recently wrote to regulated firms stating that sales of single premium payment protection insurance for unsecured lending should cease by May 29 – some 17 months before the ban on single premium PPI policies comes into force.

PMS launches large loan service

PMS has launched a new commercial partnership with specialist broker to deliver a large loan referral service for PMS members.

Savvy brokers will leap into IFA-land

There has been much talk of mortgage advisers diversifying to stay in business and there is evidence of forward-thinking brokers doing just that, resulting in Premier Mortgage Service changing its name to PMS last month to accommodate protection and savings products.

How to balance bottom-up with top-down research in constructing multi-asset credit portfolios

In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]


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