Evercore buys Lexicon to up Europe stake June 8, 2011 US INVESTMENT banking adviser Evercore agreed to buy UK boutique advisory firm Lexicon Partners for a total £86m, it said yesterday, in a deal set to make millionaires of Lexicon’s founders. The deal will see Andrew Sibbald, Lexicon’s senior partner, 27 other partners and more than 70 employees share £38m in cash, equivalent to 44 [...]
Stocks suffer on global growth fears June 6, 2011 Stocks have fallen this morning on a hangover from weak US employment data on Friday, and falls in Asian markets overnight. US non-farm payroll data showing just 54,000 new jobs were created in May shocked the markets, leaving the Nasdaq 1.5 per cent lower. In Asia, the Nikkei fell to an 11-week closing low today [...]
The rock’n’roll banker that is set to chair Aviva June 5, 2011 FORMER Australia and New Zealand Banking Group (ANZ) chief executive John McFarlane is being touted as the next chairman of insurance group Aviva, after Sir Richard Broadbent passed over the role last month in favour of a move to Tesco. The appointment of McFarlane, who currently sits on the board of RBS, is believed to [...]
Aviva UK head in shock exit June 2, 2011 A SHOCK change of roles at major City insurers saw Aviva’s high-flying UK chief executive Mark Hodges leave to become head of insurance broker Towergate yesterday. Aviva has moved in highly regarded insurance veteran Trevor Matthews, formerly of Friends Provident and Standard Life, to replace Hodges. The move is Aviva’s second high-profile exit in five [...]
Moody’s warns life insurers on sales as tax breaks end June 1, 2011 CUTBACKS on life insurers’ tax breaks in Europe are a threat to their competitiveness that is being compounded by ultra-low interest rates in the region, credit rating agency Moody’s said yesterday. European life insurers may see their sales volumes hurt if they fail to deliver better returns on life products than savings products offered by [...]
How to triple your chances of winning the job June 1, 2011 TODAY’S job market is one of the most competitive we’ve ever seen. Good job opportunities attract literally hundreds of online applications. Often every one of these lists the same high levels of skills and qualifications. Just how can you stand out and win the job you want in this context? Especially when it is clear [...]
BEST OF THE BROKERS May 30, 2011 SPORTINGBET Evolution Securities rates the online bookmaker “buy” and has a target price of 70p. The broker thinks the £119m acquisition of Australian rival Centrebet makes strong strategic and financial sense, coupled with high quality European business and good current trading. Evolution adds that trading in May has been robust. AVIVA Killik & Co rates [...]
ALL CHANGE AT LLOYD’S AS IT RINGS 25 YEARS May 26, 2011 IT MAY seem like only yesterday for many City veterans, but today marks 25 years since the first managing agents moved into the landmark Lloyd’s building on Lime Street. So happy anniversary to the insurance giant, which still shows traces of more than 300 years of Lloyd’s history, such as the famous Lutine Bell, which [...]
FTSE lifted by commodities and Man Group May 26, 2011 The FTSE rose today as commodity stocks received a lift while a series of positive corporate results helped to boost investor sentiment. As G8 leaders gathered in France with the future leadership of the IMF and the eurozone debt crisis at the heart of the talks, global markets regained some lost confidence. Investors once again [...]
CITY VIEWS: IS THERE IS A NEW DOT.COM BUBBLE? May 25, 2011 DEEPAK MALIK | AVIVA “I think possibly, yes. Companies such as LinkedIn are valued very highly and it’s not justifiable. It will be interesting to see what other websites such as Facebook and Twitter are valued at.” WARREN CAMPBELL | JUBILEE “I think there is but it’s not going to be as devastating as it [...]