Good news boosts FTSE to 2008 levels January 12, 2011 BANKS and miners dominated the FTSE today, leading the index to another 31-month high as good news from Portugal’s bond sale boosted financial stocks, and miners tracked metals prices higher. Four FTSE 250 companies also posted double-digit gains as news that Gartmore agreed a £335.3m takeover deal by rival Henderson sent their shares higher. The [...]
F&C board fights back as Sherborne showdown looms January 6, 2011 EMBATTLED F&C Asset Management has set a date for its showdown with Sherborne Investors over its bid to replace chairman Nick MacAndrew and take control of the board. F&C shareholders will meet on 3 February at Sherborne’s request to vote on whether to oust MacAndrew and director Brian Larcombe and appoint Sherborne’s founder Edward Bramson, [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
CITY VIEWS: ARE OVERDRAFT CHARGES TOO HIGH? December 7, 2010 MARK GIRARDOT | HOWDEN Yes, the rates are too high; it’s daylight robbery. It’s just wrong. It’s unethical. I don’t see how they could be in such dire financial straits that they need to do this, since they have just paid some very large bonuses to their employees.” GRAHAM NISBET | LLOYDS BANKING GROUP I [...]
Pension firms are not completely trusted December 7, 2010 IN the latest YouGov SixthSense Pensions Report, two-thirds of YouGov respondents say they “do not have complete trust in pensions companies”. Meanwhile, of the companies mentioned in the survey, Scottish Widows were the most highly regarded – one in four respondents who know of the company ranked it as their number one pensions provider, leaving [...]
CITY MOVES | WHO’S SWITCHING JOBS December 7, 2010 Aviva Investors Aviva Investors has appointed a new client portfolio manager for fixed income, Raphaelle Moysan (pictured). She will be responsible for liaising with potential clients with a focus on fixed income and absolute return. She will be based in London and report to Anne-Sophie Girault, while also working with the fixed income teams globally. [...]
PERSONAL FINANCE NEWS December 2, 2010 MORGAN STANLEY UNVEILS GROWTH PLAN Morgan Stanley this week announced the launch of its new FTSE Defensive Digital Growth Plan, which lasts for six years. The plan offers a fixed return of 60 per cent at maturity if the FTSE 100 rises or even if it falls by less than 20 per cent over the [...]
Inflexion in £25.5m buyout of Asperity December 2, 2010 MID-MARKET private equity house Inflexion acquired Asperity Employee Benefits in a £25.5m buyout yesterday. Asperity, a market leader at providing employee benefits such as discount and reward schemes, has more than 500 clients including BSkyB, Aviva and Ladbrokes and attracts about £150m of retail spend through its platform each year. Inflexion co-founder John Hartz said [...]
CITY MOVES| WHO’S SWITCHING JOBS December 1, 2010 HSBC HSBC?has announced the appointment of Hossam Alsaady as head of its Saudi Arabia team within the London-based Middle East and North Africa division of its private banking business. Alsaady is moving over from his role at NCB Capital in Jeddah, where he has held several senior positions, most recently head of strategy. At HSBC, [...]
Hogg Robinson sees boost from recovery November 30, 2010 CORPORATE travel firm Hogg Robinson yesterday reported first-half profit more than doubled, adding its full-year outlook would see it finish ahead of market expectations. The firm said operating profit was £19.5m, up 73 per cent, from £11.3m last year, with an improving economy boosting business travel. Revenue was up nine per cent from £155.3m last [...]