Veteran TV boss David Frank raises £30m to fund takeovers October 13, 2014 Former Zodiak Media boss David Frank has signed his first acquisition as part of the launch of his new media investment vehicle Dial Square 86. Frank is currently raising between £20m and £30m to fund the takeover of a number of target content businesses as he looks to build “a content group of the future”. [...]
Lending Works hires technology chief to boost leadership team October 13, 2014 ONLINE peer-to-peer lender Lending Works will today announce the hiring of Michael Raasch, its first head of technology, who spent 15 years managing software development for global banks including Goldman Sachs, Commerzbank and UBS. Lending Works is one of the rising stars of the peer-to-peer lending sector having lent out £500,000 in September. The firm [...]
Business boom dented by euro area troubles October 12, 2014 UK BUSINESSES lost some momentum in September, with survey data showing that most regions have been impacted by economic troubles across the Channel. A purchasing managers’ index (PMI) released by Lloyds Bank, which records business activity, scored 57.4 for the UK average, down from 59.3 in August. Anything above 50 implies growth and although this [...]
Confident UK firms planning hiring spree despite export fears October 12, 2014 UK firms are confident about the next three months and are planning to take on more workers despite expectations that exports will be hit by weak growth in the Eurozone. The BDO employment index, released this morning by accountants BDO, achieved its 13th consecutive rise in September to reach a post-crisis high of 112.3. This [...]
Wellcome Trust on hunt to find a new chairman after Sir William Castell’s exit October 12, 2014 The Wellcome Trust is entering the last week of an exhaustive search to find a new chairman to replace outgoing chair Sir William Castell. The charitable trust, the UK’s biggest private source of funding for medical research, has appointed executive search firm Korn Ferry to find a replacement for Castell, who is stepping down in [...]
Elliott Advisors exec in £38m pay bonanza October 12, 2014 ONE OF the top directors at Elliott Advisors took home £38m last year, one of the highest single pay packets for an executive during the period. Elliott, a US hedge fund with a substantial operation in the UK around St James’s, disclosed the windfall in an annual accounts filing at Companies House during the past [...]
Inmarsat chief Rupert Pearce goes overboard with latest deal at Volvo Ocean Race October 12, 2014 Alicante played host to more than its usual Costa del Sunseekers at the weekend, as sailing fans and corporate sponsors flocked to say “bon voyage” to the vessels of one the world’s largest boat challenges – the Volvo Ocean Race. FTSE satellite giant Inmarsat is one of the race partners; its tracking technology keeping the [...]
Canary Wharf gets mo-ed in time for Movember challenge October 12, 2014 It’s that time of year again. Polish off those razors and get ready to start afresh on Movember first – that most hirsute of months is nearly upon us. But don’t worry if you forget, the shaving force behind the charity month has mo-ed a reminder into the grass in Canary Wharf. Want to get [...]
Three things you didn’t know about… October 12, 2014 Chief executive of the Association for Financial Markets in Europe, Simon Lewis 1 His first job was working for property guru Gerald Ronson, when he did a gap year stint as a petrol pump attendant in Ronson’s flagship HR Owen garage in Hampstead Garden Suburb. The cashier was Jon Sopel, also on his gap year [...]
Europe’s banks take stress tests more seriously October 12, 2014 EUROPE’S biggest banks have raised far more capital ahead of this year’s stress tests than they did last time their books were scrutinised, according to an analysis of capital markets activity by lawyers at Linklaters. Banks have raised €34.7bn (£27.3bn) so far this year, 32 per cent more than they raised in the 12 months [...]