Of all the scary stories about the economy, and there is no shortage to choose from, the one that caught my eye was about the CEO of The Prudential feeling it necessary to reassure the City that the shares would continue to be listed in London..
Around the same time there was speculation that the mighty Pru might well pack their bags and leave UK policy holders in the embrace of a Resolution or a Pearl.
It is not difficult to see why a UK Life assurer does not believe that it is in the best interests of shareholders to commit fresh capital to the home market, with its duff economy and preposterously bureaucratic regulation. But the Pru, goddamit, is a British institution like Wimbledon or the Tower of London. If they really are thinking of pottering off to the growth markets of Asia and leaving the rest of us to get on with it, someone in Westminster should be getting a message.
Moving on, I was rotten about service in one of my recent notes. So I ought to say how pleased I am that Hargreaves Lansdown are not only trying to get our money out of Santander, but are keeping us informed that Santander appear reluctant to part with it. HL made a mistake with us once. They were all over it like a rash as soon as they realised, and it was sorted in hours, not days or weeks. It can be done.
Read this article at http://www.candidmoney.com/articles/article99.aspx
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