As expected, it's redoing its portfolio to focus on the profitable business and that's why there's a continued collapse in individual pensions. It has to focus on profitability; that's clearly what it's about now.
There were no horrors in there. They were pretty solid and reasonable. The figures we had from everybody else were above (expectations) or good in some other way but these were very much in line with consensus.
The figures are solid, but what is striking is the rise in investment management.
The figures are good. This is his first proper go at it and the broad strategy is what he inherited from Bloomer. But now we can see the Tucker touch, and the early signs are that it's going to be very good indeed.
I'd be amazed if any of the UK-quoted companies were involved.
Nearly everyone I talk to thinks it's a good idea. The thing is that neither company needs to do a deal.
