City Moves for 24 October – Who’s switching jobs at Legal & General, SnapLogic and Angling Direct? October 23, 2019 Today’s City Moves includes Legal & General, SnapLogic and Angling Direct Legal & General Legal & General Investment Management (LGIM) has announced the appointment of Margaret Ammon as chief risk officer. Currently chief risk officer for the asset management branch of M&G, Margaret will join LGIM in February 2020 and be responsible for the oversight and [...]
City Moves for 10 October – Who’s switching jobs at Ashburton Investments, Pi Labs and Aviva Investors? October 10, 2019 Today’s City Moves includes Ashburton Investments, Pi Labs and Aviva Investors Ashburton Investments Sizwe Nxedlana has been appointed chief executive officer (CEO) of Ashburton Investments, the asset management arm of Firstrand. Sizwe has been with Firstrand for more than a decade, previously as First National Bank’s (FNB) chief economist and most recently as CEO of [...]
M&S’s FTSE exit is a symbol of its terminal decline September 6, 2019 Archie Norman, the Marks & Spencer chairman, put a brave face this week on the retailer’s demotion from the FTSE 100. Nothing to see here, he said: the business was exactly the same on the day after its relegation. Focusing on it was the reddest of herrings. In a sense, he is right – but [...]
DEBATE: Would a no-deal Brexit really be bad for business? September 5, 2019 Would a no-deal Brexit really be detrimental for British business? YES, says Dinesh Dhamija, an entrepreneur and a Liberal Democrat MEP for London Crashing out of the EU with no deal will plunge us into 10 years of trade negotiations. That means even more uncertainty – and uncertainty is a cancer for business. Already, foreign [...]
Three in 10 FTSE 100 companies cut executive pensions as investor pressure mounts August 28, 2019 Three in 10 FTSE 100 companies have pledged to cut their executives’ pension payments in response to pressure from shareholders, as new data reveals that investor rebellions are on the rise. Research published today by the Investment Association shows that 30 companies on the index have made significant changes to executive pensions during this year’s [...]
How the Tottenham Hotspur Stadium was designed and the future of football grounds August 27, 2019 The third of April 2019 was a big day for Christopher Lee. After months of delays, speculation and criticism the Tottenham Hotspur Stadium officially opened its doors, with Spurs facing Crystal Palace in the Premier League. For the stadium’s project director it was the culmination of eight years of hard work – a chance for [...]
Netflix snaps up Uxbridge production space in latest UK push August 19, 2019 Netflix has signed a deal to rent out production space in Uxbridge, just weeks after it unveiled its new UK hub at Shepperton Studios. City A.M. understands that the US streaming giant is set to take a 134,000 square feet unit called UX1 in an industrial park in west London as part of a 10-year [...]
Lloyd’s of London ramps up modernisation drive as it hits electronic trading target August 12, 2019 It is one of the oldest institutions in the City, but there are signs of modernisation at Lloyd’s of London. The historic specialist insurance market has hit a milestone after completing over 50 per cent of its under-writing deals electronically, meeting a target it set itself for the second quarter of this year. For more [...]
Royal London sales hit by DB transfer drop despite rise in profits August 12, 2019 Royal London, the UK’s largest mutual life insurer, has reported a drop in new business sales during the first half of the year. The pensions provider blamed an industry-wide reduction in defined benefit (DB) transfers today for a four per cent year-on-year fall in new business sales to £5.8bn for the first six months of [...]
Insurer Zurich expects to beat targets as profits jump August 8, 2019 Zurich Insurance Group hailed its best performance in a decade this morning after reporting a double-digit rise in profits and predicting that it would beat previous financial goals it had set. Read more: Aviva confirms strategic review of Asia Europe’s fifth largest insurer reported business operating profits of $2.8bn (£2.3bn) in the first six months [...]