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Rathbone Brothers grows funds under management

Private bank Rathbone Brothers, thought to be Liverpool's oldest company, saw its funds under management creep back above the £13bn mark as confidence returned to the market in the second half of 2009. The group said total funds under management at the end of 2009 were £13.1bn, almost back to the levels seen at the end of 2007, and up sharply from £10.46bn at the end of 2008. More than 2,500 former clients of the Bank of Scotland’s Portfolio Management Service, which Rathbone acquired from Lloyds Banking in October 2009, have so far joined the firm, bringing almost £500m of funds with them. The announcement came as Rathbone said pre-tax profit from continuing operations fell 30 per cent to £29.5m last year, while underlying earnings per share fell by a similar percentage to 52.36p. Chairman Mark Powell said: “The challenges in 2010 may be similar to those we saw in 2009. Rathbone is well capitalised, has demonstrated the ability to make acquisitions and can continue to grow organically. We are excellently placed for the future.”


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Deals
Health centres secure funding

Business
Losses narrowed at Surface Transforms

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Spreadex bets on Liverpool move

Spread-betting firm Spreadex has opened a new office in Liverpool. The Hertfordshire-based company, which offers both financial and sports spread betting, has moved into premises in The Plaza, on Old Hall Street. It will be run by traders Darren Barton and Robin Harrington. Barton said: “Spread betting is traditionally linked with the South East and London, but this form of trading has grown in popularity in recent years as an alternative investment tool and is being used by more and more people across the country, from the smaller speculator to the sophisticated larger investor.”

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Earnings fall at Moneysupermarket

Moneysupermarket.com, the price comparison website, has reported a 29 per cent fall in earnings for 2009 as the company “managed itself through a very challenging period”. Revenue for the year to 31 December dipped 23 per cent to £136.9m, while adjusted EBITDA fell from £48.4m in 2008 to £36m. Chief executive Peter Plumb, who replaced Simon Nixon 12 months ago, said the group had achieved its aims for 2009: realign the business and invest for future growth. The company added that it had reduced its cost base by 13 per cent over the period. In April 2009, Moneysupermarket.com said it had cut 80 jobs in response to falling profits.

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Design Foundry powers Bemoneywise launch

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Synapse Academy makes training pledge

Employment training business Synapse Academy, based at Exchange Flags in Liverpool, has pledged to train and provide work for more than 300 people in the region this year. The company, which launched in the city in December, is aimed at 16 to 24 year-old jobseekers and provides them with qualifications and work experience placements. In the past 13 weeks, it has trained 60 potential employees who are now available to local customer service-based businesses for secondments. Pontins has already signed up to take on 12 employees.

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Public roles there for taking, says GEO

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Air Angel flies high

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Insider’s brand new North West Top 500 Companies 2010 CD-ROM is now available. Promote your business to the most profitable companies in the North West with this reliable and comprehensive business mailing list. As a valued reader of Insider News, you will receive a 20 per cent discount (saving £65.80) if you pre-order online and then submit the promotional code: INW-T500CD-15. The same promotional code will also give a discount of £622.75 (individual cover prices) on our complete set of CD-ROMs (giving extensive coverage of England and Wales). Click here to order or contact Richard Graham for further information. These offers are only available until 31 March 2010.

Property
Best Buy in at Aintree

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Moore praises Liverpool’s exceptional offer

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Tague on Tour – Don’t stop moving

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