Thursday, 10 February 2011

"Xchanging plunges on warnings"

Daily Telegraph 10/2/2011

Concerns over the future of Xchanging continue to escalate - with a further plunge in share price and profit warnings!  Steadfast denials from the Acting CEO, but the analysts won't let this one go.

What would the impact on the already embattled insurance industry be if the outsourcing giant collapsed? 

My encounters with Xchanging over the years certainly didn't leave me with a favourable opinion of their approach - perhaps I'm not the only one.

Matthew Reed Quits Powerplace

According to Insurance Times yesterday

Powerplace chief executive Matthew Reed has become the latest high profile departure to quit Towergate. Reed, is working his notice - though I suspect now that the news has broken, his departure will be hastened.

Will Reed end up working at AXA I wonder?