Adviser: What do I tell mum on Aviva? May 27, 2009 A DISGRUNTLED financial adviser has issued an open letter to Claire Spottiswoode, who represents the interests of policyholders at insurer Norwich Union, damning the group’s treatment of with-profits fund clients. Adviser David Trenner, of Glasgow advisory Intelligent Pensions, suggests his 82-year old mother is suffering as a policyholder at Norwich Union, which will be formally [...]
The truth about the toughest MBA out there May 27, 2009 WHAT THEY TEACH YOU AT HARVARD BUSINESS SCHOOLBy Philip Delves BroughtonVIKING, £12.99 GRADUATES of the Harvard MBA programme run the World Bank, the American Treasury, General Electric, Goldman Sachs and Procter & Gamble. According to Philip Delves Broughton, they control “the hours we work, the vacations we get, the culture we consume, the health care we [...]
Lloyds directors face new ire May 27, 2009 Three directors involved in Lloyds Banking Group’s takeover of HBOS face increased criticism from investors at next week’s annual general meeting, after proxy voting agency Manifest expressed “significant concerns” about the re-election of chairman Sir Victor Blank, Archie Kane and Sandy Leitch.
Dutch to end ban on shorting May 27, 2009 The Dutch ban on short-selling of financial stocks is to end on 1 June, after the market regulator decided to end the restriction. The ban on short-selling was initially introduced at the height of the banking crisis in September last year.
Morrisons outstrips its rivals May 27, 2009 Morrisons is growing at the fastest rate of the big four supermarkets with Tesco continuing to lag behind the pack, according to new industry data. Britain’s fourth-biggest grocer clocked up growth of 7.9 per cent in the 12 weeks to 17 May, lifting its market share to 11.6 per cent. Sainsbury’s, with 7.8 per cent [...]
CITY MOVES WHO’S SWITCHING JOBS May 27, 2009 Blue Oar SecuritiesThe stockbroker has appointed Shamim Mansoor as a mining analyst from HSBC, where she was vice president of global metals and mining. Prior to that, she spent five years as a mining analyst at Investec. “The mining sector is experiencing an unprecedented period of change. As a global industry, its impact on the [...]
KLEINMAN JOINS SKY AS ANSWER TO BEEB’S BUSINESS EDITOR PESTON May 27, 2009 ROBERT Peston must be quaking in his well-oiled boots. The media rumour mill has been going into overdrive over the past few days as industry veterans gossiped about Sky News launching a bid to up the stakes in its rivalry with the BBC by hiring the Sunday Telegraph’s Mark Kleinman to be its new City [...]
Alexander David bucks small cap recession woes May 27, 2009 SMALL cap broker Alexander David said yesterday turnover at its trading subsidiary Alexander David Securities doubled on a like-for-like basis over the first four months of the year, shrugging off the effects of the recession. In addition, the group announced plans to raise £668,000 via a placing of 66.8m new shares. An estimated 21m shares [...]
London still dominates EU hedge space May 27, 2009 LONDON still plays host to the top 15 hedge fund companies in Europe despite the massive losses and client withdrawals seen in the vehicles over the last year. The total assets managed by Europe’s top 50 hedge fund groups have plummeted by 30 per cent over the last year from £225bn to £178bn, according to [...]
Evercore appoints new chief May 26, 2009 Boutique advisory firm Evercore Partners has named Ralph Schlosstein chief executive officer and president with immediate effect, chairman Roger Altman announced yesterday. Schlosstein, a co-founder and former president of fund manager BlackRock, will work with the chairman to expand Evercore’s global reach and diversify its operations. “Our goal is to build Evercore into a global, [...]
