City Moves for 05 May 2015 | Who’s switching jobs May 4, 2015 Lloyds Bank Kash Ahmad has been appointed managing director for mid markets in Lloyds Bank Commercial Banking’s global transaction banking division. He previously worked at Barclays Bank for 21 years years, latterly as managing director of inward business for its global corporates division. Mayer Brown The law firm has announced the appointment of David Harrison [...]
The General Election fight, Mayweather Vs Pacquiao fight, s**t trains and marathons: What got us talking this week May 1, 2015 This was the week when everyone became completely pumped about the General Election. No? Well, David Cameron did, anyway, so we were told. The entire political establishment (and even self-styled revolutionaries) really ramped things up in the vote-hunting stakes as the parties square up. Anyone would think there was an election next week. Skip your [...]
Returning Liberum mum finds some sympathy for the dads April 30, 2015 THE CAPITALIST would like to doff its hat to all the City fathers who leave home before dawn to make the grinding, delay-riddled, coffee and sweat-soiled commute into town. The long-hours culture often means that “many only get to see their kids for 15 minutes, maybe, in the morning and half an hour before bedtime,” says [...]
City Moves for 01 May 2015 | Who’s switching jobs April 30, 2015 Colliers International The commercial real estate services firm has announced the appointment of Meg Brown to its capital advisory team, part of its capital markets department. She is an equity placement expert, and joins from JLL, where she worked in its corporate finance department. Brown has also held roles at CR Investment Management, Barclays Capital, [...]
Best of the Brokers for 01 May 2015 April 30, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com BARCLAYS Canaccord Genuity reiterated its “buy” rating on the bank, and said it sees “increasing clarity and a sense of purpose from the management team after a number of strategic reviews”. The broker added: “Better cost discipline and transparency should reduce the current [...]
TSB boss Paul Pester eyes up acquiring other challenger banks April 30, 2015 TSB, the self-styled challenger bank spun-off from Lloyds last year, could gobble up its competition if the bank's boss has his way. Paul Pester wants to "take on the big guys" and would consider buying up other challenger banks to make that happen. "We are Britain's biggest challenger bank, but we want to really take [...]
RBS makes quarterly loss of £446m after more cash earmarked for forex scandal costs April 30, 2015 RBS has slumped to a quarterly loss after it joined Barclays in earmarking more cash to stave off potential payments over the forex scandal. The Figures For the three months to the end of March, RBS posted a loss of £446m, a big swing from the £1.2bn profit it made in the same quarter last [...]
Troubled Barclays braced for famously tough incoming new chairman John McFarlane April 29, 2015 It is hard to keep a straight face when calling PPI compensation and litigation costs “one-offs” at any of the big banks nowadays. Yet seven years on from the start of the financial crisis, Barclays and the other big banks are still treating the extraordinary costs as unusual items each quarter. Yesterday Barclays [...]
Investor caution leads FTSE to a three-week low – London Report April 29, 2015 BRITAIN’S top share index slipped to a three-week low yesterday as a slowing US economy and caution before the end of a Federal Reserve policy meeting led some investors to take profits from recent highs. The US reported its economy grew in the first quarter at just a 0.2 per cent annual rate, well below [...]
Barclays earmarks £800m for Forex scandal costs: How much have other banks set aside? April 29, 2015 Barclays announced today that it is putting aside an extra £800m in provisions for the fall out of the Forex scandal. The extra £800m makes it the bank with the second largest pool of provisional cash – after JP Morgan. The extra provisions bring the total set aside by the six banks to £5.1bn. In Novemeber, [...]