Hints and tips:
...M&G’s share price rose by about 2 per cent in morning trading....
...Investment manager M&G has reported a 28 per cent rise in profits for 2023, in the first annual results for chief executive Andrea Rossi, who has pledged to transform the company....
...“I’m a believer in active [management].” Veteran dealmaker Gilbert, formerly co-CEO of Standard Life Aberdeen, is trying to cut costs and turn a profit from the business....
...“Jason Windsor is a former M&A banker — he could have gone in to break the business up,” said an executive recruitment expert, who wished to remain unnamed....
...The move follows M&G’s decision to close its £565mn property fund last week after the asset manager blamed “declining interest” from retail investors....
...M&G reported net client flows of £700mn in the period, with gross inflows to the PruFund of £3.3bn, the highest since 2019....
...M&G has told customers there will be a wait of up to 18 months to get all their money back....
...investors and analysts who believe it shows that new chief executive Margherita Della Valle — who vowed to turn things around after she took over on a permanent basis in April — can deliver when it comes to M&...
...I’m in Hong Kong for the first time — and love it....
...This includes Transact, Nucleus and M&G’s Wealth Platform, with Abrdn’s Wrap platform and AJ Bell’s Investcentre offering deposits through Sipps....
...Marc Filippino OK, so Bonnie Chan is next up at bat. Can she turn things around?...
...More here from Sally Hickey, Laura Noonan and George Parker....
...Hi, I’m Katie Martin, the FT’s markets columnist, and I’m looking after this newsletter for a couple of weeks while Harriet Agnew is topping up her vitamin D levels on holiday, the lucky duck....
...“It’s useful if I’m doing work at a weird time and I want the email to land in someone’s inbox at a less weird time....
...“I’m a front door sorta guy. I think it was effective and I’d do it again.”...
...Sally Hickey That is the figure that is bandied around....
...Bonnie Langford blazes through that defiant solo from Follies “I’m Still Here”, and there’s an outstanding version of “Broadway Baby”, with the female singers each bringing their own twist to this anthem...
...I’m keen to hear your view —isabel.berwick@ft.com....
...I’m not a religious person so for me it’s a place that replaces church. The best book I’ve read in the past year is Lessons in Chemistry by Bonnie Garmus. It’s funny and engaging....
...“Paul’s passionate about this and I’m happy to support him.”...
...Or the peppy practically of Bonnie Cashin’s sportswear to the overblown glamour of the French haute couture?...
...Liontrust’s fortunes illustrate how M&A is not a panacea for the challenges facing the fund management industry....
...“People would have to go there, to one place, whereas I’m sending art out to them,” he says....
...Now they are losing patience, writes my colleague Sally Hickey in London....
...We were driving — because I’m 55 with a dodgy ankle, and not a battle-hardened 24-year-old in fear of his life....
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