Keydata falls into administration June 8, 2009 Investment firm Keydata Services has gone bust, leaving its 85,000 clients uncertain about the future of its £2.8bn of funds. City watchdog the Financial Services Authority (FSA) has placed the firm into administration with Pricewaterhouse-Coopers (PwC). PwC is now hunting for a buyer for the firm’s assets but a liquidation of the company remains a [...]
CITY MOVES WHO’S SWITCHING JOBS July 9, 2009 F&C Asset ManagementThe asset manager has appointed Jacob De Wit and Richard Wilson (pictured), respectively head of fixed income and head of equities at the firm, to its executive committee following its de-merger from Friends Provident. The news follows the appointment of Kieran Poynter, the former chairman of accountancy firm PwC, and former Henderson Group [...]
Pity in the City for Lehman victims September 15, 2009 YESJEREMY HAZLEHURSTWHEN City workers lose their jobs, there will always be plenty of people who cheer. There is a perception out in the country that everybody who works in the Square Mile is an unscrupulous, greedy moneybags banker, spending their evenings wallowing in champagne and caviar. The truth is that most people who work for [...]
F&C adds two heavyweights to its board June 1, 2009 ASSET manager F&C has added a former PricewaterhouseCoopers (PwC) chairman and a former chief executive of rival Henderson to its board, in a bold reshuffle ahead of its shift to corporate independence. The group, currently being demerged from life insurer Friends Provident, named ex-Henderson chief executive Roger Yates as a non-executive director. He will be [...]
Loss of personal wealth drops June 14, 2009 Personal wealth loss from the credit crunch shrunk to £36,000 in May, from £40,000 in March, a survey out today will say. Recent recoveries in share prices and house prices have reduced the total UK household wealth loss from the credit crisis from its peak of around £1.9 trillion in March 2009 to around £1.7 [...]
Loss of personal wealth drops June 14, 2009 Personal wealth loss from the credit crunch shrunk to £36,000 in May, from £40,000 in March, a survey out today will say. Recent recoveries in share prices and house prices have reduced the total UK household wealth loss from the credit crisis from its peak of around £1.9 trillion in March 2009 to around £1.7 [...]
LDV in administration as all staff made redundant June 8, 2009 AILING van maker LDV yesterday laid off all its workers after it was put into administration. LDV, which is owned by Oleg Deripaska’s GAZ, employed 850 people directly and thousands more in dealerships and supply chains. PricewaterhouseCoopers (PwC) will now take over the running of the firm. “There is still the opportunity of a bright [...]
WINDFALL TAX PROFS WON’T BE FOBBED OFF August 13, 2009 THE City may have slammed ideas of a windfall tax on bonuses yesterday, but the group of university professors who originally mooted the idea in a letter to The Guardian are far from deterred. The dusty academics’ plans, which would see the money from the tax injected back into public services, were labelled “gratuitous”, “impossible” [...]
WINDFALL TAX PROFS WON’T BE FOBBED OFF August 13, 2009 THE City may have slammed ideas of a windfall tax on bonuses yesterday, but the group of university professors who originally mooted the idea in a letter to The Guardian are far from deterred. The dusty academics’ plans, which would see the money from the tax injected back into public services, were labelled “gratuitous”, “impossible” [...]
Hopes dim for Weavering investors’ cash May 31, 2009 LIQUIDATORS of Weavering Capital’s main hedge fund, at the centre of the UK’s first ever hedge fund fraud probe, have said there is likely to be no money available to return to investors. Experts at accountancy giant PricewaterhouseCoopers (PwC) believe it now looks certain a massive fraud has taken place and the only way investors [...]