Credit Suisse bumper bonus plan March 31, 2010 Credit Suisse Group AG stoked debate on executive pay in Switzerland yesterday by awarding chiefeExecutive Brady Dougan shares worth around 71m Swiss francs under a five-year bonus plan. Almost 400 of its executives and other managers are now set toreceive shares worth a total of over 3bn francs under the incentive plan, Switzerland’s second-biggest bank [...]
Gartmore in bid to limit probe fall-out March 31, 2010 EMBATTLED fund manager Gartmore yesterday embarked on a charm offensive in a bid to calm investors worried about allegations levelled against its star trader. Gartmore is desperate to arrest the decline in its share price and ensure its clients do not switch their funds to another firm. It met with investors yesterday to try to [...]
FSA charges seven with insider trading March 31, 2010 SEVEN men have been charged by the Financial Services Authority (FSA) on 13 counts of conspiracy to deal on inside information, while the regulator has issued a warrant for the arrest of an eighth individual in connection with the case. Ali Mustafa, Pardip Saini, Paresh Shah, Neten Shah, Bijal Shah, Truptesh Patel and Mitesh Shah [...]
ANALYST VIEWS: WHAT DOES RAMBOURG’S SUSPENSION MEAN FOR GARTMORE? March 31, 2010 JUSTIN URQUART STEWART | SEVEN “It all seems like a bit of a storm in a teacup but the brand damage could be vast. It’s exactly what Gartmore didn’t need at the moment. It’s obviously been reflected in its share price – I’m afraid it appears that the damage has been done.” KATRINA HART | [...]
Greece gears up for $10bn bond in May March 31, 2010 GREECE will try to diversify its investor base and get a better price for its debt by tapping international markets for a dollar bond of up to $10bn (€7.4bn, £6.6bn) in May. Finance minister George Papaconstantinou is expected to lead a roadshow in the US and Asia in late April to whip up interest in [...]
Paris and Berlin in push for bank levy March 31, 2010 GERMANY and France yesterday insisted that an international bank levy should be imposed in order to create a global safety blanket for future crises. French economy minister Christine Lagarde said: “We agree fundamentally on the international nature that this mechanism should have.” The build up of momentum means the G20 group could agree a bank [...]
Gunners hero Fabregas fears March 31, 2010 ARSENAL V/S BARCELONA HEROIC captain Cesc Fabregas told last night how he fears he may have broken his leg after helping to haul Arsenal back from two goals down to hold hometown club Barcelona in a mesmerising Champions League quarter-final first leg. The Gunners midfielder limped off in agony after being bundled over by Barca [...]
Hedge funds assets up 5.5pc March 31, 2010 THE number of hedge funds has fallen but the ones in existence are holding more assets under management, according to a survey by PerTrac Financial Solutions. A study of ten of the world’s leading hedge find databases revealed assets rising by 5.5 per cent over the year, to $1.41 trillion. Meredith Jones, managing director of [...]
New FRAB chair selected March 31, 2010 KATHRYN Cearns has been appointed as the chair of the Financial Reporting Advisory Board (FRAB). Presently, Cearns is a consultant accountant at Herbert Smith LLP and chairs the ICAEW Financial Reporting Committee. Prior to this, Cearns served as project director to the UK Accounting Standards Board and as a member of the UK Accounting Standards [...]
Public sector pensions add to pay boost March 31, 2010 GENEROUS public sector pension packages have seen government workers’ total pay rise much faster than their private sector counterparts, a leading think-tank has said in a study published today. The Institute for Fiscal Studies (IFS) found that public sector workers saw their total remuneration improve by 10 per cent in real terms compared to just [...]
