Former FSA boss Sants mulls bank move December 6, 2012 HECTOR Sants may head up Barclays’ regulation and compliance operations, it emerged yesterday, as another major firm vies to win the former Financial Services Authority chief executive’s services. Professional services firm Deloitte is also thought to want to hire Sants.
Rolls-Royce hit by allegations of corruption December 6, 2012 ROLLS-ROYCE could face prosecution after handing over details of possible bribery and corruption in its overseas operations. The firm said it had given the Serious Fraud Office (SFO) information about allegations of malpractice in Indonesia and China, and has identified “matters of concern” in these and other countries. The allegations, which have not been revealed, [...]
Veteran money manager quits Jupiter as new stars promoted December 6, 2012 ONE of the country’s longest serving money managers and mentor to a host of rising stars yesterday announced he is leaving the industry. Tony Nutt, who has worked at retail equity manager Jupiter Asset Management for the past 17 years, turns 60 next year and has decided to retire from the business in 2014. Nutt, [...]
Ex-Citi bankers forced to close Asian focused Primus Financial December 6, 2012 THREE ex-Citigroup bankers who raised $1bn (£620m) to invest in pan-Asia financial services have closed the fund after a string of setbacks and the region’s failure to deliver hoped-for bargains in the aftermath of the global financial crisis. Robert Morse, Wing-Fai Ng and Guocang Huan – all with long experience in Asian financial M&A – [...]
Sir Philip sells £500m stake in Topshop brand December 6, 2012 SIR PHILIP Green has sold a 25 per cent stake in his family’s Topshop empire to a US private equity firm in a deal that values the successful high street chain at £2bn. Arcadia, the retail tycoon’s holding company, confirmed yesterday it has sold off a £500m stake in its prized Topshop and Top Man [...]
Kcell on track for IPO pricing by next week December 6, 2012 KCELL, the leading Kazakhstan-based mobile telecommunications group, is expecting to close the books on its London and Almaty-based flotation by Tuesday evening, with bankers reporting healthy demand. The group’s management team, led by chief executive Veysal Aral, finished seeing institutions in Moscow earlier this week before travelling to London. The group, which is offering a [...]
Banco Popular deal puts a spring in bankers’ steps December 6, 2012 THE problems of the Eurozone are far from over but some investment bankers involved in capital raising issues are hoping a type of normality is returning to their battered markets. The contrasting fortunes of two financial deals, at either end of the year, provide the backdrop to their growing confidence. At the start of 2012 [...]
UK becomes second-largest EU car market December 6, 2012 BRITAIN is now the second-biggest car market in the EU, according to industry figures released yesterday. UK new car registrations rose 11.3 per cent year-on-year to 149,191 units in November, thanks to increased demand from private purchasers. Total car sales are now on track to top 2m in 2012, according to the Society of Motor [...]
Demand helps support our production December 6, 2012 BRITAIN’S car industry continues to defy those who say this country doesn’t make things any more. And demand at home is helping to drive that resurgence. Industry lobby group the SMMT released data yesterday showing the UK is now the second-largest EU car market by new registrations. Demand has risen year on year in the [...]
CIBC gets in the Xmas mood on its Miracle Day December 6, 2012 ‘TIS the season and alongside mince pies, carols and tinsel, charity trading days are fast becoming the traditional way to celebrate Christmas in the Square Mile. Just a day after Icap’s annual charity extravaganza, Canadian Bank CIBC yesterday hosted its Miracle Day with all fees and commissions from its London wholesale banking employees going to [...]
