Ken Davy, chairman of fintech Fintel, is to step down as planned as chairman of the company at its AGM today.

Phil Smith, founder and former group CEO of Embark, has been appointed as a non-executive director at fintech and support services firm Fintel.

Lloyds Banking Group is set to launch a £400m takeover of fast growing retirement and wealth management company Embark Group, according to a speculative report from Sky News over the weekend.

Pension and investment group Embark has rebranded the Zurich Investment and Retail Platform after completing the takeover of the business.