Metro Bank targets wealthy customers with new head of private banking Julie Barnsley September 14, 2015 High street challenger Metro Bank has announced a new head of private banking services, Julie Barnsley. The bank hopes to draw in wealthier clients with Barnsley’s appointment, and capitalise on the recent surge in demand for their private banking services, which now accounts for one fifth of the business. Read more: Financial challengers Zopa and Metro [...]
Anglo American shares fall as miner completes sale of Norte copper mine after commodities fall hits profits September 14, 2015 Mining giant Anglo American completed the sale of its Chilean copper mines to an investor consortium led by Audley Capital. The sale of Anglo American's copper business Norte was announced in late August, as one of several cost-cutting measures to off-set the effects of the global commodities rout. Audley Capital and partner Orion Mine Finance [...]
City heavyweights including L&G’s Nigel Wilson, Sainsbury’s David Tyler and BNY Mellon’s Helena Morrissey join working group to overhaul executive pay September 8, 2015 A new panel of city executives is exploring whether to scrap long-term share awards as part of a radial overhaul of city boardroom culture. The Executive Remuneration Working Group was set up by the Investment Association, which represents the UK's £5.5 trillion asset-management industry, to examine how to simplify executive pay. Daniel Godfrey, chief executive [...]
Blackrock backs Chinese real estate September 7, 2015 Blackrock, the world's largest asset manager, has turned its attention to Chinese real estate, intending to make the most of softening markets over there. The company announced it is ready to increase its portfolio exposure, focusing on affluent, high-end mass-market shopping malls and premium grade offices in China's biggest cities. John Saunders, head of Asia-Pacific [...]
Glass Lewis urges Bank of America shareholders to reject Moynihan as joint chairman and chief executive September 3, 2015 Bank of America shareholders should vote against a proposal allowing chief executive Brian Moynihan to remain chairman, proxy adviser Glass Lewis has said. In a report released on Wednesday, Glass Lewis said: “Vesting a single person with both executive and board leadership may concentrate too much responsibility in a single person.” “We do not believe [...]
Earnings drop at magic circle law firms as they fail to benefit from global M&A boom September 3, 2015 Britain's elite law firms failed to track the country's improving economy, reporting a combined turnover of £20.64bn, a one per cent drop in earnings from 2014. The number of lawyers employed by the largest 100 firms in the UK, has also fallen, down two per cent to 64,024, according to figures published by Legal Business [...]
US lawyers Hausfeld launch platform for claims against Google in Europe September 1, 2015 US law firm Hausfeld & Co. and European consultancy group Avisa Partners today paved the way for EU companies to pursue damages claims against Google. Google Redress and Integrity Platform (GRIP) offers legal advice to parties who think they may have been impacted by Google's allegedly anti-competitive search listings, which are currently being investigated by the [...]
