Activist investor ups stake in IFG as F&C steps back

An activist investor has upped its stake in financial services group IFG, raising pressure on the company as one of its largest shareholders has offloaded most of its position.

London-based Strategic Equity Capital, which has previously been critical of IFG, has raised its stake in the company to 9.74 per cent from 8.11 per cent making it the biggest shareholder ahead of former chairman John Gallagher. The move came last week as investment ...