SCOTLAND - Edinburgh Fund Managers (EFM) has appointed Chris Hegarty as a UK equities large cap manager.
This appointment follows earlier hires to the team, including Robert Waugh, formerly at Phillips & Drew, who was appointed head of UK large cap equities in May, and David Binnie, who joined as deputy.
Hegarty joins EFM from Scottish Widows where he was a retail portfolio manager. He was also responsible for UK technology analysis and latterly managed both the Scottish Widows Environmental Fund and Abbey Ethical Fund.
Commenting on the move Waugh said: “[Hegarty’s] appointment completes the restructuring of the UK large cap team.”
By Madhu Kalia
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.