City Moves for 20 January 2017 | Who’s switching jobs January 20, 2017 Accel Global venture capital firm Accel has appointed Luciana Lixandru as its newest partner, promoting her from the position of principal. In her new role, Luciana will continue to focus on investments in consumer internet, marketplace and software companies. She has developed a particularly strong investment history in next-generation marketplaces and played a pivotal role in Accel’s investments [...]
JP Morgan Chase reveals chief executive Jamie Dimon gets $28m pay package January 20, 2017 JP Morgan Chase directors paid the bank's chief executive Jamie Dimon $28m (£22.7m) in total compensation for last year, the group said yesterday. This was a four per cent bump on the previous year and includes a base salary of $1.5m as well as cash and stock-related instruments tied to his performance, a filing with the US Securities and Exchange [...]
City Moves for 19 January 2017 | Who’s switching jobs January 19, 2017 GFT Technologies Christian Ball has been appointed head of retail across the Atlantic region at GFT, a provider of business, technology and design consulting to global banks. Christian brings extensive experience with him to spearhead GFT’s retail banking team and is joining the firm from Meniga, one of the top-performing fintech companies in Europe. In the [...]
City Moves for 18 January 2017 | Who’s switching jobs January 18, 2017 Boston Consulting Group Paolo Cuomo has joined the Boston Consulting Group as a principal in the firm’s insurance practice. He will work with teams in London and across Western Europe to support (re)insurance clients, including carries, brokers and regulators, on strategy, operational and digital topics. Paolo joins from Charles Taylor, where he was chief operating [...]
Ready, set, go: Liberty Media shareholders give green light to $4.4bn Formula One takeover January 18, 2017 Liberty Media shareholders have approved the group's $4.4bn (£3.6bn) takeover of Formula One, the company said this evening. The acquisition, approved at a special meeting of the US media giant's stockholders, is expected to close before the end of the first quarter. However, it still remains conditional on gaining approval from the Formula One governing body, the [...]
Deutsche Bank agrees $7.2bn settlement with US Department of Justice over mortgage-backed securities January 17, 2017 Deutsche Bank has agreed to pay the US Department of Justice $7.2bn (£6bn) over misleading investors with sales of mortgage-backed securities in the run-up to the financial crisis. The bank agreed the settlement amount in principle in December, but it was only finalised today. Deutsche Bank will pay a civil penalty of $3.1bn and provide $4.1bn [...]
IP-No: High street accessories and jewellery chain Claire’s cancels US float January 17, 2017 Accessories chain Claire's, a staple of UK high streets and US malls, has abandoned plans for an initial public offering in the States more than three years after filing for a flotation. The company, which was bought for $3.1bn by Apollo Management in 2007, had sought to raise $100m (£83m) when it filed for its IPO in [...]
City financier Edi Truell puts forward new rescue plan for Tata Steel UK pension scheme January 16, 2017 A leading City financier is looking to join Tata Steel UK’s £15bn British pension scheme as a trustee and has set out an ambitious plan to revamp the pensions rescue plan. Edi Truell has sent an outline to current trustees proposing a merger between Tata Steel’s specialty unit with Sheffield Forgemasters, an advanced steel materials [...]
Tube talks between RMT, TSSA and London Underground adjourn as threat of further strikes looms over capital January 16, 2017 Negotiations aimed at averting more Tube strikes were adjourned today, leaving the threat of industrial action looming over the capital. Talks will resume on Wednesday between officials from the Rail, Maritime and Transport (RMT) union, Transport Salaried Staffs' Association and London Underground representatives, who met today at the conciliation service Acas. Read more: Here's when the [...]
Ukip’s odds of winning the Stoke-on-Trent by-election just got slashed by Betway January 16, 2017 The odds of Ukip winning the Stoke-on-Trent by-election have been slashed on growing expectations that the party's leader, Paul Nuttall, will throw his hat into the ring. Ukip's odds of winning the Stoke-on-Trent Central seat have been cut from 11/4 to 9/4 by betting exchange Betway, while Nuttall is now 15/8 to be Ukip's name [...]
