Making a fair return
Article Abstract:
Scotland-based investment management firm Murray Johnstone is showing signs of recovering from its previous difficulties that included those resulting from the 1987 Stock Market Crash, and the firm's failure to find big brother figure that would help it enter the international league. Murray Johnstone Managing Dir Nick McAndrew talks about the many changes that had to be introduced at the company. Among these changes were the reduction of the workforce by 60 people, the acquisition of new technology and tighter monitoring of internal financial controls. McAndrew also recruited new people from other renowned companies as he is a firm believer that injecting new blood into the firm from time to time is beneficial. Although Murray Johnstone is still feeling the effects of the Crash, McAndrew believes that its well-trained salespeople are capable of generating business for the firm.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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Rising to the new Capital challenge
Article Abstract:
Investment manager Norman Riddell holds the distinction of being able to lead two different organizations to profitability within the span of 13 years. In 1978, Riddell joined Britannia Arrows to head its US assets. At that time, the company was in a precarious position, with only about 200 million pounds sterling worth of funds under management and a severely eroded client base. By 1985, Riddell was able to increase assets under management to more than four billion pounds. In 1986, Riddell left Britannia to head Capital House Investment Management, a new fund management business established by the Royal Bank of Scotland. Capital House presently has funds under management amounting to three billion pounds, and Riddell is confident that the fund manager can increase the size of its business by 50% within two to three years without incurring too much direct costs.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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Dealing in discipline
Article Abstract:
Ivory & Sime Finance Dir Gordon Neilly predicts that financial discipline and cost benefit shall become a priority for investment management firms given the industry's focus on improved market share and comparative performance. Neilly is in a good position to make this observation, being one of the management triumvirate tasked with improving Ivory & Sime's market position. Although the investment manager's revenue has been increasing, the firm had to do something about falling margins and funds under management, as well as escalating costs. Neilly's proposed solution to these problems was for the firm to concentrate on its core business. Ivory & Sime got rid of poor performing ventures, resulting in increased profits, margins and funds under management.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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