Business news in brief: Serco | AstraZeneca | Frontier IP

Published on 30/10/2012 00:00

OUTSOURCING specialist Serco yesterday confirmed that it will take over the running of Edinburgh-based insurer Aegon’s protection unit in a ten-year deal worth £190 million.

The deal, which was unveiled in July, will involve about 330 staff in the Dutch-owned firm’s Lytham St Annes office transferring to Serco.

Astra’s new boss to get extra £4m

AstraZeneca said its new boss Pascal Soriot was receiving

£4 million compensation for loss of long-term incentives from his previous employer Roche. Soriot’s base salary will be £1.1m with a target annual bonus of 100 per cent.

Frontier losses on the up as costs rise

LOSSES at Frontier IP, the university commercialisation spin out from the Sigma Capital investment vehicle in which Sir Tom Hunter has a stake, have widened after a rise in staffing costs and delays in licensing payments.

The Edinburgh-based firm posted a loss before tax of £380,000 for the year to 30 June, up from £269,000 a year before.