No closer to a Resolution


A move by closed life fund specialist, Pearl, to hijack the proposed merger between Resolution and Friends Provident has turned a happy coupling into a fractious menage a trios with the leading players all claiming to hold the upper hand.

Pearl, with an embedded value of £2.5 billion, is smaller than both Resolution (£4.5 billion) and Friends Provident (£4.1 billion), but claims the backing of market sentiment in its bid to wreck the proposed creation of an £8.6 billion insurer called Friends

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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