AS FUND management veteran John Duffield gets busy with his new venture, Brompton Asset Management over in Knightsbridge, having completed FSA registration for the name last week, it looks like those lording it over his old employees are preparing to eradicate his legacy for good.
Duffield’s second venture, New Star, was taken over by asset management giant Henderson in April, after which the group’s retail business was renamed Henderson New Star.
But I hear plans are afoot to phase out the New Star name altogether by the end of the first quarter next year, as Henderson extricates itself from the mess from which it originally rescued the firm.
At least, if the name-chopping extends to Henderson’s fund range, it will provide a nice clean slate for Emily Adderson. The bombshell fund manager recently revealed she will take over the New Star global financials fund following the defection of superstar manager Guy de Blonay – renowned in equal parts for his impressive record delivering returns, his aristocratic family and ancestral castle, and his high ranking in The Capitalist’s recent rundown of the ten hunkiest gentlemen in the City.
Square Milers in need of some smooth grooves should head over to Pizza on the Park in London this evening to see a former one of their number in action on the piano.
John Harriman, who worked for 20 years in the City at Credit Suisse First Boston and Bankers Trust, then decided to give up the high-flier lifestyle to make an uncertain living in the world of jazz. Now part of a band, Heads South, Harriman is loving his new existence despite the drop in income.
“I got to the point where I started to question if I was happy to stick to one thing – you only get one life,” he reasons. “Now, the people coming to my gigs are there to have fun – the problem with business meetings is that they tend to be about problems, especially at the moment. I certainly got out at a good time!”
The man’s got a point.
MEN ON TOP
A new list of the 100 most influential men of 2010 pops into The Capitalist’s lap, courtesy of the latest edition of GQ magazine, out on Thursday.
Tory leader David Cameron predictably occupies the top spot, while Lord Mandelson – whose return to the Labour party was seen by many as a risky strategy for Gordon Brown – comes in second.
We were intrigued to see Bank of England governor Mervyn King slipping six places to number 10 (though the writers concede he’s never better than when infuriating his masters… and the City).
Meanwhile, arch-rivals Sir Philip Green and Sir Stuart Rose also feature in the list, with Topshop boss Green holding his place at number seven and Rose rising one place to 47th – assuredly courtesy of the ample assets the Marks and Spencer chief displayed around the country in his now-famous “We Boobed” campaign.
Is there no end to the dominance of flaxen-haired tycoon Sir Richard Branson?
Keen to land his Virgin airline more passengers, Branson has launched an iPhone application specifically for people who are afraid of flying – including a section on frequently asked questions, relaxation exercises and “fear therapy”, an in-flight explanation and even a personal introduction by the boss himself.
Quite how this is all supposed to combat a deep-seated phobia is unclear, though The Capitalist would be loath to underestimate the public’s seemingly insatiable appetite for the jolly chap.
Is Jacques Scherman, a director of offshore tax specialist Sovereign Group, the most feared man in business?
I only ask after hearing about the 6’1”, 84-kilogram trust-and-tax lawyer’s most recent foray into extra-curricular activities at a Hong Kong boxing night, where he emerged the victor against a mountain of an opponent after five months of hard-core training.
And when asked how he planned to celebrate his achievement? “I’ll start off drinking a lot of beer,” Scherman laughed.
Here, ladies and gents, is clearly a man after our own hearts.
And finally, a cheering note on the successes of women in business, for all those who tirelessly campaign for equality in the City.
Cosmetics giant Avon has today released a report entitled “The Rise of Lipstick Entrepreneurs”, which reveals that the recession – far from dissuading women from entering the cut-throat world of business – has actually acted as a catalyst for encouraging female entrepreneurship.
Apparently, in the next ten years, the number of self-employed ladies doing their thing in the business world will double to over two million – which is something to which The Capitalist is happy to raise a glass.