Wealth Manager - Essential news for investment professionals

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Clive Cowdery and John Tiner step down from Resolution

Clive Cowdery and John Tiner step down from Resolution

Clive Cowdery (pictured) and John Tiner are to step down from the board of Resolution Limited, the insurance consolidator which they founded in 2008 following the sale of Resolution Plc.

Both men were non-executive directors at the company. ‘Both now believe, as the group has completed its restructuring phase, that it is the right time to step down from the board,’ the company said in a statement.

The announcement followed results for 2013 reporting a 59% increase in operating profit from £382 million to £489 million.

Having completed a three year restructuring the company said it would seek approval at this year’s annual general meeting to drop the Resolution name and rebrand as Friends Life Group.

‘We reached a significant turning point for the group in 2013, and are entering a new and exciting chapter for Resolution,’ said chief executive Andy Briggs.

‘When we started the restructuring and transformation journey, the group was generating less than £100 million of sustainable free surplus. In 2013, this has risen to £331 million.

‘In 2014 we intend to create a unified brand for the group, subject to shareholder approval, renaming our parent company Friends Life Group Limited, reflecting the unified structure and governance of the business.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Play Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Your Business: Cover Star Club

Veteran banker boosts Sanlam’s stockbroking team

Veteran banker boosts Sanlam’s stockbroking team

A veteran private banker has been recruited by Sanlam Private Investments to strengthen its advisory stockbroking team.

Wealth Manager on Twitter