Administration costs rise 2% after fund manager says it is making a ‘considerable investment’ in its UK fund supermarket business

Fidelity International’s UK business reported a 22% drop in pre-tax profits last year following a double-digit fall in management fee revenues.

Accounts for FIL Holdings (UK) Limited — the holding company for Fidelity’s UK-based business — had pre-tax profits of £81.9m for the 12-month period ending on 30 June 2019. This was down from £105m reported the previous year.

Fidelity’s UK profits down after drop in fee income

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BlackRock’s plan to democratise private credit could backfire

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Milbank hires private equity M&A rising star in Germany

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

Senior GIC private equity lawyer joins Dechert in London

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US law firm hires private equity specialist from key client

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The U.K. central bank lowered its key rate for the fifth time in a year as it seeks to balance a pickup in inflation against a cooling jobs market.

Bank of England Cuts Rates After Tight Vote

The private-equity firm’s profit rose amid what its executives called the best environment for selling assets in years.

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Microsoft joined Nvidia in the $4 trillion market-cap club, while Meta is closing in on the $2 trillion mark.

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