Hong Kong-Shanghai Stock Link: Landmark day for Chinese stock market as tie-up launches November 17, 2014 City investors will be given better access to the world’s second largest equity market today when China’s Shanghai Stock Exchange launches a landmark tie-up with its Hong Kong counterpart. The Hong Kong-Shanghai Stock Link, which launched in the early hours of this morning, will allow investors to buy Chinese stocks directly for the first time [...]
AA puts former deal king Martin Clarke in the finance hot seat November 13, 2014 Roadside recovery giant AA yesterday appointed an ex-senior private equity dealmaker to take the reins as chief financial officer of the 110-year-old business. Martin Clarke, a former executive at private equity firm Permira, will replace Andy Boland, who stepped down earlier this year as the finance chief of the firm. Clarke was part [...]
Forex rigging scandal: FCA lauds US and EU assistance on FX probe November 12, 2014 The Financial Conduct Authority (FCA) yesterday hailed the “unprecedented co-operation” between international regulators in helping to clinch its £1.1bn settlement yesterday, as the chancellor sought to capitalise on the bank settlements. The FCA, which dubbed its probe Operation Dovercourt, unveiled the outcome of its probe alongside its US peer, the Commodity Futures Trading Commission, and [...]
Aviva Investors’ Euan Munro on why markets will see more Wobbly Wednesdays November 11, 2014 It’s lunchtime at Aviva Investors’ offices at No.1 Poultry, but the three platters of fish, meat and vegetable sandwiches supplied by catering lie untouched on the table. Euan Munro, chief executive of the fund management house, is sitting drinking full fat Coca-Cola from a glass, while the pungent aroma of the Coq d’Argent restaurant upstairs [...]
Square Mile office lettings at 14-year high November 5, 2014 THE CITY of London had its busiest quarter for office lettings in 14 years this summer, according to figures published yesterday. Just over 2.7m sq ft of office space was transacted in the City during the period, the highest level since the turn of the century, according to BNP Paribas Real Estate. The busy period [...]
Former Whitbread boss Parker takes the chair at Park Resorts November 5, 2014 PARK RESORTS yesterday appointed current Mothercare chairman Alan Parker to take up the same role at the holiday home business. Parker, who was also formerly the chief executive of Whitbread and also holds the chair at Darty, will take over from Resorts founder David Vaughan, who is retiring due to ill health. “I look forward [...]
Osborne Clarke UK managing partner named November 5, 2014 LAW FIRM Osborne Clarke yesterday named a new UK managing partner at the group. M&A lawyer Ray Berg, the current head of the firm’s business transactions group, will take over the role from incumbent Simon Beswick, who is leaving the role after 12 years at the helm. Berg will take up the role from 1 [...]
Foreign exchange firm Moneycorp spurred on by 50 per cent rise in half-year profits November 4, 2014 Foreign exchange firm Moneycorp yesterday said strong growth in its retail division helped the group to a 50 per cent rise in half-year profits. The firm, which was acquired by private equity house Bridgepoint in August, added 31 new bureaux de change at airports during the six months ending 30 June, helping to boost revenue [...]
Impellam buys firm for £44m November 4, 2014 RECRUITER Impellam, the current owner of ex-FTSE 100 constituent Blue Arrow, yesterday snapped up staff agency Lorien in a £43.8m deal. Stock market listed Impellam, led by chief executive Julia Robertson, will buy the business using a mixture of cash and shares. Lorien, which specialises in tech recruitment, has offices in London and recruits workers [...]
Buyout house OpCapita acquires Spanish food retailer La Sirena November 3, 2014 SPAIN’S biggest frozen food retailer has been snapped up by UK private equity house OpCapita. La Sirena Alimentacion Congelada, which has 237 small stores catering for the busy metropolitan crowd in Catalonia and Madrid, was acquired with funds from OpCapita’s consumer opportunities fund. It is the second transaction from the fund, which made its maiden [...]