JONATHAN SORRELL TO JOIN MAN
Jonathan Sorrell, one of Goldman Sachs’ top bankers and the son of Sir Martin Sorrell, chief executive of the advertising group WPP, is to join Man Group as a senior executive at the hedge fund manager. Sorrell, 33, who is among the best-known figures in the hedge fund industry, is to be appointed to Man’s executive committee and will become the company’s head of strategy.
COSCO MARKET PROCESSES CONCERNS
The head of the world’s largest shipping market has expressed concern over the behaviour of one of the world’s biggest shipping companies after China’s Cosco apparently reneged on contracts with several shipowners. Jeremy Penn, chief executive of London’s Baltic Exchange, spoke after several Cosco ships were reportedly arrested when angry shipowners and other creditors won court orders to have ships seized as collateral against unpaid fees.
QUEEN’S COUSIN SETTLES USWITCH ROW
A cousin of the Queen who made a fortune through the sale of a price- comparison website five years ago has settled a row with a group of former investors who claimed they had been duped into selling their shares cheaply. George Mountbatten was sued by nine former shareholders of uSwitch who argued that they had missed out on a substantial windfall when the company was sold to EW Scripps.