CITY MOVES | WHO’S SWITCHING JOBS April 28, 2010 HSBC Private Bank The private bank has appointed Daniel Ellis as a managing director and head of the private bank investment group for the UK and Channel Islands, based in London. Ellis is currently head of structured products for HSBC Private Bank Suisse, having joined the group in 2001 to help build the ‘over the [...]
Top private equity firms rule industry April 28, 2010 GOLDMAN Sachs Principal Investment Area has leapfrogged rivals TPG, KKR and Carlyle to take top spot in this year’s ranking of the world’s leading 300 private equity firms produced annually by Private Equity International magazine. The report, which ranks firms in terms of the amount of direct investment capital each has raised over a five-year [...]
Ex-trader on FSA insider deal charges April 28, 2010 A former hedge fund trader yesterday become the latest victim of the Financial Services Authority (FSA) clampdown on insider trading. Anjam Ahmad, has been charged with conspiracy to commit insider dealing relating to allegations of trading in 22 different shares between June and August 2009. It is alleged he made trades while in possession of [...]
BEST OF THE BROKERS April 28, 2010 LLOYDS BANKING GROUP Seymour Pierce reiterates its “sell” rating on Lloyds Banking Group despite the bank reporting an upbeat first quarter and updated 2010 forecasts. But, Seymour Pierce says that at the current rate of deposit growth, it will take until 2020 before its loans to deposit ratio falls back to below 1.0. PREMIER FOODS [...]
Aim market enjoys new listings revival April 28, 2010 INITIAL public offerings on the Alternative Investment Market (Aim) showed tentative signs of a recovery in the first quarter of the year, after listings all but dried up on the junior market during the crisis. A total of 16 firms joined Aim in the first quarter of 2010, compared to just five in the same [...]
FTSE sees biggest fall in five months after S&P slashes rating on Greece April 27, 2010 BRITAIN’S top share index dropped 2.6 per cent yesterday, the biggest fall in over five months as S&P downgrades for Greece and Portugal fuelled debt crisis contagion worries, smacking banks and commodity issues. At the close, the FTSE 100 index was down 150.33 points at 5,603.52, easily snapping an 88 point rally seen in the [...]
US stocks plummet over fears of eurozone chaos April 27, 2010 US stocks tumbled yesterday as downgrades of Greece and Portugal fuelled fear about eurozone economic stability, and a grilling of Goldman Sachs on Capitol Hill heightened the possibility of financial reform. Stocks posted their worst day in nearly three months and the CBOE Vix volatility index, Wall Street’s barometer of investor fear, jumped about 31 [...]
FLASHING THE CASH IN THE CITY’S STRIP CLUBS April 27, 2010 FANS of this column’s Bill of the Week feature are in for a treat this week, as a second receipt dropped onto The Capitalist’s desk yesterday that was simply too juicy to stay under wraps until Monday. Feast your eyes on the gem to the right, which came from the Secrets table dancing club at [...]
Showdown April 27, 2010 GOLDMAN Sachs executives yesterday gave a robust defence of the bank’s behaviour during the financial meltdown. Senators grilled the bank’s top players for more than nine hours as they desperately sought an admission of guilt that was never forthcoming. During the ill-tempered affair Goldman executives, including boss Lloyd Blankfein and chief financial officer David Viniar, [...]
Greece debt junked as crisis mounts April 27, 2010 ONE of the world’s most respected credit rating agencies dealt a hammer blow to financial markets yesterday, dropping Greek bonds to junk status and downgrading Portugal. The FTSE 100 plunged 2.6 per cent to 5,603.52, while the Dow Jones Index lost 1.9 per cent to 10.992 as Standard & Poor’s said the Greek government faced [...]
