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Financial Services - 1996
Lloyd Thompson and JIB Group have announced a £300m merger, to create an insurance broking group able to better compete in both the London and Asian markets.
Donaldson, Lufkin & Jenrette, the US investment bank, is planning to set up a new headquarters in London, and expects to double the current 150 staff already employed in the city.
NatWest Securities Japan is to acquire Citicorp International Securities' Japanese trading operations, for undisclosed terms.
The Private Bank & Trust Company of London is acquiring Reads Trust Company, the Jersey-based trust business, for undisclosed terms.
Inchcape is selling its Bain Hogg insurance broking business to Aon Corp of the US for £160m, having dropped plans to demerge it.
NatWest Markets has acquired Hambro Magan, the merchant banking operation, for undisclosed terms.
Cox Insurance, the Lloyd's insurance company, is to acquire the Christopherson Heath agency for up to £34m.
Legal & General is setting up a direct telephone sales centre in Cardiff, which will focus on health and term insurance and employ 100 staff.
Swiss Reinsurance has acquired Mercantile & General, the reinsurance division of Prudential, for £1.75bn, making it the largest life reinsurer in the world.
HSBC Gibbs Holdings has sold its Premium Credit operation to a management buy-out called Vendcrown, for £40m plus equity.
HSBC's Marine Midland subsidiary in New York is acquiring First Federal Savings & Loan for £397m.
Card Clear, the credit card fraud prevention company, is acquiring its rival Cardcast for £15.4m so that they can focus on developing the market together.
Rathbone Brothers is acquiring Neilson Cobbold, the Liverpool-based stockbroker, for up to £15.9m.
United Friendly and Refuge Group have announced a £1.46bn merger, creating a major home services insurer with combined assets of £6.5bn.
First National Building Society of Ireland has bought The Mortgage Corporation, the UK mortgage lending business, from Salomon Brothers for £53m.
NM Rothschild & Sons has bought Causeway Invoice Discounting for about £5m, in order to improve its banking services.
The Bank of England is to spend £8m a year on strengthening its banking supervision following the collapse of Barings bank, and will recruit 100 extra people.
Goldman Sachs of the US is to acquire CINMan, the UK coal industry pension fund manager, in a deal thought to be worth up to £50m.
The Prudential has sold Leven, its Dutch life assurance operation, to Achmea Group for undisclosed terms.
Guardian Royal Exchange has bought Legal & General's commercial general insurance business for £48m, and hopes to achieve cost savings by merging the business with existing operations.
National Westminster Bank is to acquire Greenwich Captital Markets, the US broker based in Connecticut, from Long-Term Credit Bank of Japan for $600m.
Lloyds TSB is to sell Hill Samuel Bank's corporate finance department to Close Brothers for undisclosed terms, with the remainder of the subsidiary being integrated into Lloyds TSB.
Euclidian, the Lloyd's investment company, is to buy Indemnity Insurance Services for an initial £1.8m.
Westdeutsche Landesbank, the German bank, is to expand its UK investment banking subsidiary, West Merchant Bank, which now has about 750 people.
Sun Alliance and Royal Insurance are planning a £6bn merger to form Royal & Sun Alliance, a deal which could result in 5,000 job losses.
Abbey National is acquiring Wagon Finance, the used car financing business, from United News & Media for £121m.
Cornhill Insurance has acquired Pet Plan, the animal health insurer, for £32.5m.
General Accident is buying two German companies for £61m from UAP of France - UAP Allgemeine, a general insurer, and UAP International Leben, a life insurer.
Guardian Royal Exchange is buying the RAC's insurance broking business for £68m, and the business will become part of Guardian Direct but will continue to use the RAC name.
The Co-operative Bank is pulling out of fund management with the sale of CIM to Colonial Group of Australia for undisclosed terms.
Halifax Building Society is buying 33 estate agency offices from the Alliance & Leicester for undisclosed terms.
Securitised Endowment Contracts, the financial services company, is buying two independent financial advisors - IFA Network and IFA Network Services.
The Bank of Ireland is buying the Bristol & West building society for £600m, which is expected to keep its own brand with no job losses.
CGA Direct, the insurance broker, has been bought by management from Oriel Group for £20m.
The Newton Group, the independent investment house, has bought the asset management operation of Hogg Robinson Financial Services for an undisclosed sum.
Legal & General is to set up a direct sales centre for its financial services products in Cardiff, creating up to 400 jobs.
Halifax is acquiring Clerical Medical, the life assurer, for £800m, which should enable it to use independent advisers for the sale of pensions, life assurance and investments.
Morgan Grenfell Development Capital has bought CGA, the household and motor insurance telebroker, from Oriel for £12m.
Chesterton International has bought back the Chestertons Residential estate agency business in London from Woolwich Building Society for £8m.
Fishers Intl, the financial services concern, is buying Robert Bishop (Southern), the claims management company, and Miller Knight, the loss adjuster, for a maximum £3m.
Johnson & Higgins, the US insurance broker, has bought Corporate Risk, the Scottish broker, as it attempts to become the leader in large accounts for UK plcs.
Bristol & West, the building society, is withdrawing from estate agencies with the sale of its remaining Hamptons branches to a company created by NatWest Ventures and Cluttons Residential Estate Agency, for £3.8m.
National Westminster Bank is acquiring Gartmore, the fund management concern which was 75% owned by Banque Indosuez, for £472m.
Independent Insurance Group is to buy Safom, the French insurance underwriting agency.
Lowndes Lambert is acquiring Blackwall Group, the holding company for Blackwall Green the insurance broker, for up to £10m.
Liverpool Victoria is acquiring Frizzell, the insurance concern, from Marsh & McLennan of New York for £188m.
Compagnie Financiere SFAC of France is to acquire Trade Indemnity, the credit insurer, for £177m.
Westdeutsche Landesbank Girozentrale of Germany is acquiring Panmure Gordon, the London stockbroker, for about £30m.
Kleinwort Benson has bought most of SBC Warburg's leasing finance and advisory business.
Life Assurance Holding is acquiring Lifetime Assurance's UK activities.
Stroud & Swindon Building Society is acquiring City & Metropolitan, with C&M members likely to get bonuses of up to £2,500.
Albert E Sharp is acquiring Brown Shipley, the stockbroking and personal equity plan operation, from Guinness Peat for £7m.