Kirsh fails as Minerva wins vote September 8, 2010 SOUTH African billionaire Nathan Kirsh has lost his campaign to oust the chief executive and chairman of property developer Minerva, after other investors rejected calls for a boardroom shake-up and greater financial disclosure. About 64 per cent of Minerva investors voted to keep existing management in place at an extraordinary general meeting yesterday, and Kirsh’s [...]
Anglo Irish to be split into two September 8, 2010 IRELAND’S government outlined a compromise solution for winding down troubled Anglo Irish Bank yesterday but failed to put either a price or a timeline on its plan. Yielding to political pressure, finance minister Brian Lenihan ditched Anglo Irish’s own plan to carve a functioning niche lender out of what is left of the nationalised bank [...]
Lupus forgets Hutchings with £17m profit September 8, 2010 LUPUS CAPITAL, the building materials supplier, raised its operating profit 43 per cent for the first half, a year after seeing off controversial tycoon Greg Hutchings. Lupus, which makes fittings for doors and windows, notched up an underlying gain of £17.3m in the six months to July. Group sales defied tougher conditions in the key [...]
GT reveals non-executives September 8, 2010 GRANT Thornton (GT) has become the first large accounting firm to comply with new governance rules by revealing its new non-executives. The three non-executives are Richard Eyre, chairman of the Eden Project; Caroline Goodall, a consultant to law firm Herbert Smith; and Ed Warner chairman of UK Athletics. The UK’s biggest eight audit firms – [...]
RBC plans for growth as hits City century September 8, 2010 ROYAL BANK OF CANADA (RBC) is looking to expand its wealth management and investment banking arms as it celebrates its 100th anniversary in the City of London. RBC, Canada’s largest company by revenue, is hiring bankers to push its private client business in the Middle East and Eastern Europe. It also plans to bolster its [...]
Ex-AIG chief Sullivan to head risk at Willis September 8, 2010 Former AIG chief executive Martin Sullivan, who was ousted three months before the US government bailed the insurer out, is joining Willis Group, the London-based insurance broker said yesterday. Sullivan will head a new unit that will oversee brokerage and risk management advisory services for Willis’ multinational and global accounts. He will also be deputy [...]
British MBAs look to broaden their horizons overseas September 8, 2010 MANY British people choosing to take an MBA stay in this country, or head to one of the big American schools. There is no doubt that they are prestigious, but in a world that is increasingly tilting to the East, might there be better ways to spend your money? At most British business schools around [...]
GMAT matters, but it’s not the only way to show a business school your talents September 8, 2010 FOR those wanting to take an MBA, sitting the GMAT is something of a rite of passage. The test – whose full name is the Graduate Management Admission Test – has been the gold standard for MBA students since it was launched in 1953. Now it is to undergo its biggest change yet when it [...]
INTEGRATED REASONING September 8, 2010 Q.WHAT IS THE CHANGE? A.From June 2012 the GMAT will include a 30-minute “integrated reasoning” section. The GMAT will still be three-and-a-half hours long, and the new section replaces one of the two essays in the Analytical Writing Assessment – there will now be just one essay. The Verbal and Quantitative sections remain unchanged Q.WHAT [...]
The MBA takes you from the battlefield to the boardroom September 8, 2010 NEXT month the government will announce a comprehensive spending review in which thousands of military personnel are expected to lose their jobs. Some estimates say that 16,000 will find themselves on civvie street. Many high-fliers will no doubt be attracted by the City, and the City is sure to be interested in disciplined, talented people [...]
