E&Y appointed to sell Park Row

Liverpool-based assurance and life society Royal Liver has appointed Ernst
& Young to sell Park Row, its financial advisory practice.

Royal Liver acquired the loss-making business for £16.7m in 2003. Park Row
posted an operating loss of nearly £6m in 2008, despite completing a successful
cost-cutting program to save £11m.

Park Row is being investigated by the Financial Services Authority (FSA),
which is reviewing its systems and controls.

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