Edmond de Rothschild elects chairman’s wife Ariane as new CEO January 14, 2015 Private Swiss banking group Edmond de Rothschild has appointed the wife of the chairman, Ariane de Rothschild, as its new chairwoman of the executive committee – effectively chief executive officer. She will replace current CEO Christophe de Backer, who will step down on 31 January. Chairman of the Swiss private bank and asset manager Benjamin [...]
DuPont heats up its war of words with activist investor Peltz’s Trian January 14, 2015 US CHEMICAL giant DuPont yesterday hit back in a proxy battle with activist investor Nelson Peltz’s Trian Fund Management, who had demanded that it split into three separate firms. DuPont said the fight could “disrupt our company” at a key stage of development. Trian last week nominated four directors to DuPont for election at the company’s annual [...]
RBS shortlists international groups for Queen’s bank sale January 14, 2015 J SAFRA Sarasin and a consortium comprising Singapore’s DBS Group Holdings are among banks shortlisted for the second round sale process of Coutts International, people familiar with the matter said yesterday. The sale of the private bank of Royal Bank of Scotland has attracted about 10 suitors in the initial round, and could fetch about [...]
City Moves for 15 January 2015 | Who’s switching jobs January 14, 2015 Lloyds Bank Lloyds Bank Commercial Banking has appointed Allen Appen as head of financial institutions capital and asset backed solutions. He joins from Barclays, where he was most recently head of financial institutions capital markets for Europe, the Middle East and Africa. Mole Valley Asset Management The investment management firm has appointed Andrew Holder as [...]
Best of the Brokers for 15 January 2015 January 14, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com BHP BILLITON S&P Capital has downgraded Anglo-American metals, mining and petroleum firm BHP Billiton from a “buy” to “hold” rating. “We expect weaker commodity prices to increasingly impact on group profits as hedges expire and see currency headwinds from a stronger US dollar,” [...]
Metal stocks rock the FTSE as oil slide effects continue – London Report January 14, 2015 THE FTSE 100 slumped more than two per cent lower yesterday following a plunge in metal stocks. Global growth concerns prompted jittery investors to exit mining stocks en masse. The mining sub-index dropped 6.2 per cent, the biggest one-day percentage fall in three years, after copper fell as much as eight per cent to its [...]
World outlook pushes US low – New York Report January 14, 2015 A WORLD Bank global economic forecast’s concerns caused US stocks to fall for a fourth day of trading in a row yesterday. Copper prices sank, although a late-day rebound in energy shares left the market well off its lows after a volatile session.The S&P energy index ended up 0.1 per cent after falling as much [...]
Blame the coalition for rising childcare costs: London’s mayor must get a grip January 14, 2015 I’m A dad to two wonderful teenage daughters, so I know that being a parent in London can be challenging. Like most Londoners, my job is hectic. I often leave home before my girls are up in the morning, and in the evening, votes and constituency meetings mean I don’t get home till late. My [...]
The City is not safe in the EU – and the situation is only set to get worse January 14, 2015 Self-delusion seems to be spreading. First the CityUK’s Chris Cummings, in an article in last Tuesday’s City A.M., appeals for the City of London to lead EU reform. Next, Labour’s Douglas Alexander takes up the call in Monday’s Evening Standard. “It has”, he informs us, “been Britain’s stated policy objective for the past 30 years [...]
Only Heathrow Airport expansion will allow Britain to win the global race for growth January 14, 2015 Vietnam Airlines’ announcement last week that it is moving its operation from Gatwick to Heathrow is good news for Britain, as it secures a direct route to an important growth economy, with more frequent flights and greater cargo capacity. It underlines that airlines can only make flights to many long haul destinations viable from a [...]
