Endowment Traders to Close
Endowment crisis leads two trading firms to wind up
6th August 2004
The once-booming market in endowment policy trading seems to have been caught up in the endowment mortgage crisis, with two leading firms announcing they are to close to new business, and sell the policies they've already acquired.
The two companies, Policy Portfolio and Beale Dobie, are both owned by banking group Investec, which decided to close them following a review of the endowment trading market.
A total of 30 jobs are to be lost.
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