McKinsey elects Bob Sternfels as new leader following former boss’s ousting March 10, 2021 Bob Sternfels has been elected the new global managing partner of McKinsey, making him the 13th partner to lead the firm since its founding in 1926. The change comes after former boss Kevin Sneader was voted out of his position following a perceived poor handling of a succession of crises. Sternfels will begin his three-year [...]
Crispin Odey’s hedge fund quietly rebrands funds amid ongoing sexual assault trail March 10, 2021 Odey Asset Management has quietly rebranded seven of its funds ahead of tomorrow’s court date, which will see founder Crispin Odey take to the stand over sexual assault allegations. Seven of the hedge fund’s 19 funds have changed their name from ‘Odey’ to ‘Brook’, referring to the new subsidiary business Brook Asset Management, industry magazine [...]
Clash of the consultants: Secretariat sues rival over fake Glassdoor review March 9, 2021 Consultancy firm Secretariat is suing rival HKA, after one of the bosses allegedly posted damaging reviews about Secretariat on website Glassdoor. Secretariat has filed a lawsuit in California alleging that Toby Hunt, who is partner, chief business development officer and head of Europe at HKA, made damaging comments on employer review site Glassdoor while posing [...]
‘Priority’ BEIS audit reform report now over a month late March 9, 2021 The keenly awaited BEIS report on audit reform is now more than a month late to be published, despite business secretary Kwasi Kwarteng insisting audit reform was a “priority” for his department. City A.M. understands that the report, which is thought to be extensive, was due out on 8 February, but a month later is [...]
Ex-law firm staffer banned over sexually explicit WhatsApp messages March 9, 2021 An ex-member of staff at listed law firm DWF has been banned from working in the legal profession after he sexually harassed a junior colleague. Matthew Unwin was employed as a financial management executive in DWF’s Manchester office. He was dismissed on 25 September 2018 for gross misconduct after working at the firm for six [...]
GameStop shares jump 30 per cent following e-commerce commitment March 8, 2021 Shares in GameStop jumped 30 per cent today to nearly $180 per share, after the American video game retailer formed a committee to transform it into an e-commerce business. Gamestop’s share price hit its highest since January today, on the news that it chose shareholder Ryan Cohen as the head of a new committee to [...]
Fries and Prejudice: Burger King accused of using ‘sexism as clickbait’ in latest tweet March 8, 2021 Burger King was accused of using “sexism as clickbait” today, after posting an attention-grabbing tweet for International Women’s Day. This morning the fast food chain tweeted: “Women belong in the kitchen.” The controversial tweet was timed to coincide with International Women’s Day, a day that celebrates the achievements of woman around the world. Burger King [...]
Lawyers know best: Is it time law firms left the LLP behind? March 8, 2021 Recent legislative changes have paved the way for new, alternative structures in law firms, a sector that was previously dominated by traditional partnerships and LLPs – limited liability partnerships. Alternative business structures (ABSs) – which allow non-lawyers to have a financial stake in a firm – have grown in popularity throughout the 2010s, and for [...]
AIM outperforms London’s main market during 12 months of Covid-19 March 8, 2021 A year on from the start of the Covid-19 pandemic, the AIM has strongly outperformed London’s main market, something highly unusual in periods of economic downturn. London’s AIM outperformed the FTSE All-Share by a number of metrics, in part due to several of its listed companies performing well during the pandemic. The AIM All-Share index [...]
Brexit fuels sharper fall in takeovers by UK investors in continental Europe than worldwide average March 8, 2021 The coronavirus pandemic and Brexit hampered deal activity between the UK and continental Europe in 2020, with the number of European businesses bought by UK acquirers falling by nearly a third. The number of takeovers by UK acquirers of continental European businesses fell 30% from 488 in 2019 to 342 in 2020, new research has [...]
