Vp plc, the equipment rental specialist, notes that today, following an investigation lasting almost four years, the Competition and Markets Authority ( CMA ) has announced its finding that there has been a breach of competition law by three major suppliers of groundworks products for hire in the UK.
This is an area of activity for part of the Group s excavation support systems business ( Groundforce Shorco ).
The turnover of the business concerned represented 9% of the Vp plc group turnover for the year ended 31 March 2020. No other Vp businesses are included in this investigation.
The CMA has imposed a penalty of £11.2 million on Vp. The Group s accounts to 30 September 2020, announced on Monday 7th December 2020, included a provision of £15.4 million in respect of this matter.
Ontario Teachers’ Pension Plan Board, NN IP, Barings, IFRS Foundation, Mirabaud, Dahlgren & Partners, AXA IM, Aviva Investors
Ontario Teachers’ Pension Plan Board – The Canadian pension investor has appointed
Nick Jansa as senior managing director for Europe, the Middle East and Africa, responsible for leading the investment activities and portfolio management in the region. Based in Ontario Teachers’ London office, he will report to CIO Ziad Hindo.
Ontario Teachers’ also announced that promoting
Ben Chan, who joined the investor in 2018, to the role of senior managing director, Asia Pacific (APAC). Ontario Teachers’ said Chan “has been instrumental in growing investment activities in Asia, attracting critical talent to the region, and most recently, overseeing the opening of our new Singapore office”.
Axa Framlington fund manager Jamie Hooper exits after 14 years
Nigel Yates brought in to take over UK Growth while Managed Balanced also faces shake up
Axa Framlington UK Growth fund manager Jamie Hooper is leaving the firm at the end of the year after 14 years.
Hooper (pictured) joined Axa IM in November 2006 and is the lead manager responsible for the £124.3m Axa Framlington UK Growth fund and the £1.1bn Axa Framlington Managed Balanced fund. Before joining Axa IM, he was at F&C (now BMO Gam) where he managed UK equity portfolios for institutional and investment trust clients.
A press release said he is leaving on 31 December to “pursue interests outside financial services”.