WPP confirms Sir Martin Sorrell’s pay of £62.8m March 15, 2016 Advertising and PR group WPP has confirmed that founder and chief executive Sir Martin Sorrell has taken home a share package worth £62.78m under the company's co-investment, performance-based, management incentive compensation plan, LEAP. A total of 15 WPP senior executives were involved in the scheme, which covered a five year performance period from 2011 to [...]
RBS is replacing several financial advisers with “robo advice” and the FCA has welcomed the news – it’s time to stop worrying and learn to love the robots March 15, 2016 RBS slashed hundreds of jobs this week, replacing some of its financial advisers with so-called “robo advice”. The announcement was closely followed by news that the City’s watchdog, the Financial Conduct Authority (FCA), has welcomed our new robot overlords employees. A seven-month FCA study into the financial advice sector, conducted with Treasury assistance, concluded that [...]
City Moves for 15 March 2016 | Who’s switching jobs March 15, 2016 JHC Systems JHC Systems, a provider of wealth management solutions, has announced the appointment of John Boggis as its new head of sales. John brings almost 20 years of financial industry experience to the role, having most recently held the position of head of sales for EMEA & APAC at Eagle Investment Systems, which is part [...]
Ultimate Products eyes sale or IPO and mandates Shore Capital March 15, 2016 The owners of Ultimate Products, which has the licence to sell Russell Hobbs products to retailers, has hired City advisers Shore Capital to explore a potential sale or IPO of the business. The Manchester-based firm could fetch between £50m and £60m, according to people familiar with the situation. Shore Capital has been asked to explore all [...]
Humiliation: Former energy secretary slams government over risk of lights going out March 14, 2016 Former energy secretary Lord David Howell has ripped into the government’s energy policy, saying that Britain has fallen into a “humiliating” position. Howell, who is also the father-in-law of chancellor George Osborne, told City A.M.: “We’re a great industrial country, we are the pioneers of coal and steam, and the leaders of the world and [...]
Trainline buys Captain Train in bid for European expansion March 14, 2016 Rail ticket provider Trainline has bought Paris-based rival Captain Train. The value of the deal has not been disclosed, however City A.M. understands that it was paid for via a recent fundraising in which Trainline raised just over €100m (£78m). The combined business will allow passengers to book tickets across Europe, providing access to 22 [...]
Uber drivers are more productive than taxi drivers – National Bureau of Economic Research March 14, 2016 Uber drivers are more productive than taxi drivers, according to a new paper from the National Bureau of Economic Research in the US. However, this conclusion has been made based on figures from five US cities – Boston, Los Angeles, New York, San Francisco and Seattle – so London's black cab drivers should not feel [...]
Pigeon power: Air quality firm Plume Labs launches first flock of pollution-monitoring pigeons in London March 14, 2016 Pigeons may look like pests to some Londoners, but the prolific city birds have found a new purpose – today marks the first day of the capital's new pigeon pollution patrol. Air quality monitoring firm Plume Labs has partnered with Twitter UK and DigitasLBi to launch a flock of pigeons equipped with "little backpacks" – [...]
Budget 2016: It’s time for the Treasury and George Osborne to find elusive cuts, not introduce stealth taxes March 14, 2016 A guaranteed way of keeping someone on your side is to print a bigger number at the bottom of their monthly pay slip – a fact recognised by employers and politicians alike. George Osborne is expected to lift the personal allowance again during Wednesday’s Budget (a commendable continuation of the Liberal Democrats’ longstanding policy) and [...]
City Moves for 14 March 2016 | Who’s switching jobs March 14, 2016 Accenture Professional services group Accenture has promoted Joydeep (Joy) Bhattacharya, pictured, to lead the Accenture Interactive business in the UK and Ireland. In addition to his new role, Joy will maintain his existing responsibilities as regional general manager for Fjord, Accenture’s design and innovation unit, in Europe, Africa and Latin America (EALA). With over 15 [...]
