Aviva Investors fined £17.6m by financial regulator over conflicts of interest failings February 24, 2015 Aviva has been slapped with a multi-million pound fine by the City regulator over failings in its asset management business. The Financial Conduct Authority has ordered Aviva Investors to pay £17.6m for failing to employ the correct risk management systems and controls which resulted in conflicts of interest not being managed fairly. “Ensuring that conflicts [...]
Goode ready to face Ireland after Brown suffers concussion setback February 23, 2015 SARACENS full-back Alex Goode looks set to start England’s pivotal Six Nations showdown with Ireland in Dublin on Sunday after Mike Brown suffered a setback in his recovery from concussion. Harlequins No15 Brown was knocked unconscious in a collision with Italy centre Andrea Masi at Twickenham in England’s last clash but appeared on course to [...]
Best of the Brokers for 19 February 2015 February 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com AVIVA Berenberg has reiterated its “sell” recommendation for insurer Aviva. Analyst Matthew Preston says: “Just 24 per cent of the reduction in business unit operational costs has made its way through to Aviva’s operating profit, while cash generation has also remained lacklustre.” LEGAL [...]
City Moves for 17 February 2015 | Who’s switching jobs February 16, 2015 KPMG The professional services firm appoints Ken Hall as partner and Curtis Baron as director to its UK security and business resilience practices. Hall joins from Wipro, and has over 25 years of IT experience. Baron joins from RBS, where he was group head of Resilience. Linklaters Matt Peers has been appointed as the law [...]
Nick Hewitt: AA executive at heart of firm’s purchase and float on sick leave January 26, 2015 AA executive director Nick Hewitt is taking a leave of absence from the company due to ill health, the roadside assistance firm announced yesterday. A statement from chairman Bob Mackenzie said Hewitt will be obtaining essential medical treatment until further notice, but is expected to be absent for at least three months. “We wish Nick [...]
Davos 2015 World Economic Forum: Top execs gather for grand old Duke of York January 22, 2015 It takes a lot to overshadow a quantitative easing programme on the scale of the one announced by the European Central Bank yesterday, but the Duke of York’s private life somehow managed it. Squeezed eight-deep into the Salon Rotary at the Belvedere Hotel, bosses from BP, Citi, Marks & Spencer and Diageo turned up to [...]
City Moves for 20 January 2015 | Who’s switching jobs January 19, 2015 HSBC David Phythian has been appointed head of corporate real estate for the bank in the UK. He joined HSBC in 2006 and was head of its London corporate real estate office. Phythian has also held roles at UCB Bank, the United Bank of Kuwait, and a number of private property companies. Square Mile Investment [...]
Aviva to cut 1,500 jobs in Friends Life takeover January 19, 2015 Aviva could axe up to 1,500 jobs as part of its £5.1bn acquisition of its rival Friends for Life, a move which would amount to 4.8 per cent of the combined companies' total work force. The FTSE 100 insurer said it is unable to provide specifics until the takeover completes, however it will try to [...]
City Moves for 19 January 2015 | Who’s switching jobs January 18, 2015 BirthStar Target Date Funds The solutions provider for asset managers and intermediary firms has announced two appointments. Tony Hicks joins as head of business development from Aberdeen Asset Management. He has also held roles at Scottish Life and Gartmore Fund Managers. Rachael Harris (pictured) joins as head of key accounts from Just Retirement, where she [...]
City Moves for 16 January 2015 | Who’s switching jobs January 15, 2015 Baker Tilly The accountancy firm has appointed Ian Williams as a director in its restructuring and recovery service line. A solicitor with over 25 years’ experience, he previously worked at SGH Martineau, specialising in international corporate recovery cases. ING Investment Management The investment management firm has appointed Bart Oldenkamp to its integrated client solutions team. [...]