Summary
SOME employees of Abbey National Asset Managers in Glasgow received internal confirmation yesterday that their parent bank planned to outsource management of their division's (pounds) 28bn of funds to US giant State Street, a senior industry source said.
Business leaders and the Scottish National Party meanwhile expressed dismay about such a move - which would sound the death- knell for ANAM and deal a blow to Glasgow's financial sector.See the full content of this document
Extract
Abbey Leak Confirms Outsourcing of Funds to State Street
Fears that Abbey would take this route were revealed yesterday by The Herald. Glasgow-based ANAM employs 173 people, about one-third of them well-paid fund managers.
Any deal with St...See the full content of this document
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