City Moves: Who’s switching jobs in the Square Mile this week? May 12, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Capital Group strengthens UK sales team Investment firm Capital Group, which has £1.7 trillion assets under management, has expanded its UK financial intermediaries team this week by hiring a new managing [...]
Darktrace races out of the blocks: A boost for London’s IPO market after Deliveroo’s flop April 30, 2021 In a welcome boost for the London IPO market after the Deliveroo flop, UK cybersecurity company Darktrace launched this morning well above its initial price of 250p per share, jumping sharply to 350p in opening trade. There were early indications that the initial valuation might be higher than this, at around £3bn, however it appears that [...]
London Stock Exchange Group sees income increase after Refinitiv deal completes April 28, 2021 The London Stock Exchange Group (LSEG) posted a small increase in income for a first quarter in which it finally completed the acquisition of data firm Refinitiv. Total income at the firm was up 3.9 per cent at £1.8bn for the period, while gross profit climbed 4.0 per cent on a constant currency basis to £1.5bn. [...]
London Stock Exchange opens investigation after Refinitiv data outage April 8, 2021 The owner of the London Stock Exchange today said it was opening an investigation into a long outage at Refinitiv, the markets data platform it acquired earlier this year. The outage at Refinitiv’s Eikon software, which provides market prices, began at roughly 7.30 this morning. Subscribers who use the service to access data for trading [...]
London Stock Exchange Group faces investor revolt over CEO’s pay April 1, 2021 The London Stock Exchange Group (LSEG) is facing a backlash from investors after deciding to hike its chief executive’s salary by more than £200,000. Some of the company’s biggest investors plan to vote against its remuneration report when it holds its annual meeting later this month, Sky News first reported. The anger centres on the [...]
Trustpilot aims for £1bn valuation in upcoming London IPO March 8, 2021 Consumer review service Trustpilot is aiming to bag a £1bn listing when it lists its shares in London later this month, after it secured $240m through the initial public offering. The Danish company confirmed its intention to float on the London Stock Exchange earlier this month, following $240m commitments from investors including Fidelity, Adelphi, BlackRock and [...]
London Stock Exchange shares tumble on Refinitiv merger costs March 5, 2021 Shares in the London Stock Exchange Group (LSEG) tumbled today after the company revealed its $27bn mega-merger with Refinitiv will cost more than expected and lead to job cuts. The stock market operator said it expected capital expenditure to hit £850m this year, with £150m of associated operating costs. This marked an increase in the [...]
Reviews website Trustpilot set for London IPO March 1, 2021 Trustpilot is considering launching an initial public offering in London that would see at least a quarter of the company floated on the London Stock Exchange. The offer would comprise new shares raising proceeds of around $50m, the company announced on Monday. Trustpilot is targeting a premium listing on the London market and expects to [...]
Exclusive: Square Mile veteran Joe Nally looks back on 45 years in the City February 25, 2021 Tomorrow, Joe Nally will retire from Cenkos Securities, a firm he co-founded 18 years ago, after a career of more than 45 years in the City. Nally, who was previously a partner at Williams De Broe, is one of the few remaining individual members of the International Stock Exchange of London who is still working. [...]
Exclusive: Purity Hemp CEO on the UK’s fast-growing medical cannabis market February 24, 2021 After losing his sister to cancer and his best man to an opioid addiction, Canada-born, London-based Michael Walker felt he should explore alternative healthcare options so not to rely on Big Pharma. The former head of marketing at Heathrow Express left the advertising industry in 2016 to set up his own company, the Purity Wellness [...]