Alliance Trust unit pays £14m for Brewin Dolphin platform Alliance Trust’s savings division yesterday bought smaller stockbroking platform rival Stocktrade from Brewin Dolphin for £14m. Alliance Trust Savings (ATS), which has £7.2bn in assets, will add Stocktrade’s 48,000 customers, boosting its customer base to 105,000. Assets will also rise to £11.5bn after the deal completes. The group said the acquisition would allow it to [...]
Garrett-Cox says dinosaurs plague industry Alliance Trust boss Katherine Garrett-Cox yesterday said gender equality in fund management was lagging due to “dinosaurs” in the industry holding it back. Garrett-Cox was speaking on a panel with Newton boss Helena Morrissey, WisdomTree’s Nizam Hamid and L&G Investment Management CEO Mark Zinkula at the Morningstar conference.
Alliance Trust gets a year to show results as Elliott Advisors gives 12 months’ notice Investment firm Alliance Trust has been put on 12-months’ notice by activist investor Elliott Advisors to show results or be forced to change its strategy. In a vicious battle over the past month, both sides have been rallying support among shareholders, with Elliott pushing for three new directors to join the board, and Alliance [...]
Win or draw? Alliance Trust share price rises as Elliott Advisors withdraws resolutions – but gets two seats on the board April 28, 2015 Elliott Advisors will call this a win – Alliance Trust may settle for something rather less emphatic. The day before what was set to be a heated annual general meeting (AGM), the financial services company appears to have reached a truce with one of its largest shareholders by giving it two seats on the board, [...]
Alliance Trust preparing for record turnout April 27, 2015 RECORD numbers of shareholders could show up at Alliance Trust’s annual general meeting on Wednesday, at the climax of a battle between the board and activist investor Elliott Advisors. Last year, 143 shareholders came to the event. This year, the investment firm has prepared overflow areas at the Dundee venue, in anticipation of the 400-seat [...]
Alliance Trust wins backing of City bosses April 19, 2015 Embattled Alliance Trust boss Katherine Garrett-Cox won the support of a series of business bosses over the weekend, as the leaders spoke up in favour of her stewardship. Activist investor Elliott Advisors is pushing to add three new directors to the FTSE 250 investment group’s board, arguing that its executives need to be pushed harder [...]
General Election 2015: Alliance Trust CEO Katherine Garrett-Cox wants a sustainable economy and flexible working April 16, 2015 ELECTION COUNTDOWN: 20 DAYS TO GO Every day until the final week of the election campaign, we ask a business leader to say what policies would entice them to vote for a particular party. KATHERINE GARRETT-COX: CEO, ALLIANCE TRUST ■ You commit to creating a healthy, sustainable economy which is so very [...]