SJ Berwin lawyer drowned self July 28, 2009 A top lawyer threw herself into the Thames after struggling with the demands of motherhood and a City career, an inquest heard yesterday. Catherine Bailey, a partner at SJ Berwin who specialised in banking and commercial law, may have been suffering from postnatal depression, the inquest heard. She was found dead near Richmond bridge six [...]
Paulson faces ethics spat over Goldman August 9, 2009 FORMER US Treasury secretary Hank Paulson was in constant contact with former employer Goldman Sachs during the depths of the banking crisis, according to telephone records obtained under freedom of information law. Paulson, who spent 32 years at Goldman, spoke with his successor as chief executive Lloyds Blankfein on two dozen occasions last September, in [...]
Cowdery gets nod from UKFI August 16, 2009 RESOLUTION, the buyout vehicle headed by Clive Cowdery, is confident the Treasury would not bar it from bidding for the life insurance assets of Lloyds Banking Group due to its controversial tax-haven status. Cowdery has been given the green light and is now considering a bid for the Lloyds’ Clerical Medical unit, after dispatching an [...]
City law firms beat the crunch July 9, 2008 The City’s biggest law firms look set to beat the credit crunch, topping revenues of £1bn last year. All four of the firms that make up the “magic circle” posted earnings over £1bn and showed double digit growth, with Clifford Chance holding the top spot as the world’s largest law firm with revenues of £1.33bn, [...]
BORIS: I’M CITY’S NEW CHAMPION September 2, 2009 LONDON Mayor Boris Johnson yesterday took the fight to save the City to Brussels, where he lobbied EU officials over plans to crack down on hedge funds, private equity houses and the alternative investment sector. Johnson met with various MEPs and Charlie McCreevy, the EU’s internal markets commissioner, to highlight the problems contained within the [...]
Lower profit is odds-on for William Hill August 4, 2009 WILLIAM Hill yesterday warned its full year profits would miss previous forecasts after it lost money on a series of horse racing events. The bookie yesterday said that pre-tax profits had fallen to £91.5m in the half to June 30, down from £111.1m a year earlier. William Hill said that, as a result of the [...]
FSA hits back as MPs attack August 13, 2009 THE FINANCIAL Services Authority (FSA) yesterday hit back at MPs, after all three political parties rounded on the City regulator over its rules on executive pay. FSA chief executive Hector Sants said it was not the watchdog’s job to wage war on bonuses for social reasons, and that politicians should bring in laws to cap [...]
MILLIONAIRE LEAVES THE LAP OF LUXURY TO GET BY ON 64 A WEEK October 14, 2009 CHANNEL 4-gazers might have been surprised last night by the sight of a familiar face popping up on the box: Pimlico Plumbers boss Charlie Mullins. Mullins, himself the subject of a classic rags-to-riches tale as a self-made business tycoon, was taking part in the channel’s popular “Secret Millionaire” show, for which he travelled to a [...]
FSA TO PROBE KEY BARCAP BONUS DEALS August 17, 2009 &9632; FSA will demand to see the contracts of five traders&9632; JP Morgan and Barclays Capital in row over poached staff&9632; Think tank calls for Commission to report on high earners CITY watchdog the Financial Services Authority (FSA) last night said it will demand to see the contracts of five traders being hired by Barclays [...]
Hedgie assets up $100bn on stellar gains July 21, 2009 HEDGE funds assets grew for the first time in a year in the second quarter, according to data released yesterday, on the back of improved investment performance and a reduction in client withdrawals. Hedge funds controlled $1.43 trillion (£871bn) in assets at the end of the quarter, up $100bn from a quarter before, according to [...]