City Moves for 16 December 2014 | Who’s switching jobs December 15, 2014 Vail Williams Nina Epstein has been appointed senior management surveyor at the commercial property adviser. She joins from DTZ, where she worked in its property asset management/business development division. Epstein has also held roles at Cushman & Wakefield, LaSalle Investment Management, and CB Hillier Parker. Aviva Investors Mark Connolly has been appointed chief investment officer, [...]
The FTSE 100 slumps to a new yearly low amid crumbling oil prices December 15, 2014 Britain's FTSE 100 closed down again today taking the index to its lowest level this year, as crumbling oil prices and fresh concerns about Russia's economy scared investors. The FTSE 100 shed another 1.9 per cent to close down 117.9 points at 6,182.7 which was its lowest closing level since mid-2013. It fell 6.6 per [...]
Stressing out: Britain’s lenders will be ticked off by the Bank of England as new tests bite December 14, 2014 If you happen to stroll down to Threadneedle Street in the early hours of tomorrow morning and find a hive of activity do not be alarmed – it’s just the start of the Bank of England’s inaugural stress tests results. While most of London slumbers at 5am, prudential regulation authority (PRA) officials will be locked [...]
Barclays among 10 banks fined for abusing research to win deals December 11, 2014 TEN GLOBAL banks were fined a total of $43.5m (£27.7m) by US regulators yesterday for their attempts to misuse analysts’ research to gain lucrative jobs on Toys R Us’ attempted stock market flotation in 2010. Analysts’ research is supposed to be a neutral assessment of a floating stock’s value. But the Financial Industry Regulation Authority (Finra) said [...]
City firms dominate Stonewall’s Star Performers list December 11, 2014 City firms including Barclays and Goldman Sachs have dominated the "Star Performers" list published by Stonewall today. The group said the eight companies on the list have been "consistently ranked as top 10 gay-friendly workplaces" in its annual Workplace Equality Index. Other star performers included consultant Accenture, law firm Simmons & Simmons, tech giant IBM, [...]
Investec “I can’t breathe” research note comparing Eric Garner’s death to bank’s regulatory woes provokes angry reaction December 10, 2014 The dying words of Eric Garner, whose untimely death has sparked a wave of protests across the US, have become a rallying cry for millions of Americans protesting against US police tactics. But it is not a phrase that banks should be using to discuss corporate research, brand and marketing professionals said yesterday. “I can’t breathe,” [...]
FCA chiefs Martin Wheatley and David Lawton cling on despite damning Davis report on insurance market fiasco December 10, 2014 City watchdog Martin Wheatley came in for criticism yesterday as the £3.8m Davis report on the regulator’s handling of media briefings was released to the public. The Financial Conduct Authority’s (FCA) chief executive will forgo his bonus for 2013-14 as a result of the findings, as will David Lawton, director of markets, Zitah McMillan, director [...]
City Moves for 11 December 2014 | Who’s switching jobs December 10, 2014 Baringa James Belmont joins the management consultancy as director of its new risk analytics service. Belmont has over 15 years’ experience in consultancy and industry, and has held senior positions at Barclays, Alliance & Leicester and PA Consulting. Linklaters The law firm has appointed Scott Campbell as managing partner for the United Arab Emirates. The [...]
Dow plunges 268 points but airlines climb – New York Report December 10, 2014 US STOCKS lost more than one per cent yesterday in the S&P 500’s biggest decline since 13 October as another big drop in oil prices hammered energy shares. The Dow Jones industrial average fell 268.05 points, or 1.51 per cent, to 17,533.15, the S&P 500 lost 33.68 points, or 1.64 per cent, to 2,026.14 while [...]
Snap presidential election prompts Greek stock dive December 9, 2014 Political instability in Greece has prompted the biggest one-day stock market fall in the country since the 1980s, amid fears that radical left-wing party Syriza could swoop into political office and lead the country out of the Eurozone. Prime Minister Antonis Samaras has announced that a presidential election will be brought forward by two months, [...]