UK - New Star Asset Management will list on London Stock Exchange (LSE) in June according to its year end results.
New Star has increased its assets under management (AuM) by 26% to £21.1bn, from £16.8bn in 2005 and plans to list on a London stock exchange market. The asset management firm listed on AIM in November 2005.
New Star Asset Management chairman John Duffield said: “Our first full year as a quoted public company has been one of record organic growth.
"The current year has started strongly, with the recent market volatility having had no discernible effect on our momentum. AuM are now £22.8bn compared to £21.1bn at 31 December 2006.”
New Star also announced in its results that John Craig will replace Sir Dominic Cadbury as deputy chairman and senior non-executive director, who resigned after his additional responsibilities at Misys created the 'potential for a conflict of interest'.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.