Barclays’ Sam Dean makes speedy return to bank as chairman of global finance and risk solutions October 8, 2014 When Barclays’ head of equity capital markets Sam Dean announced he was taking a sabbatical last December it raised a number of eyebrows in the City. Dean, a highly popular and well-respected part of the Barclays team, cited family reasons for his break, but that didn’t stop the bank’s rivals from gossiping about whether the [...]
City Moves for 9 October 2014 | Who’s switching jobs October 8, 2014 Fidelity Worldwide Investment Peter Horrell has been appointed managing director of the investment firm’s UK business. He has spent the past 24 years at Barclays, where he was most recently chief executive of wealth and investment management. Sovereign Land The retail and leisure developer and asset management firm has appointed Luke Winstanley as senior analyst. [...]
Victory for Fraud Office as British banker pleads guilty in Libor case October 7, 2014 THE BRITISH authorities have claimed victory in the first of at least 12 prosecutions against bankers and financiers accused of trying to manipulate the key inter-bank interest rate benchmark, Libor. One banker pleaded guilty on Friday, but cannot yet be named for legal reasons. The High Court believes that revealing the identity of the banker could affect [...]
City Moves for 7 October 2014 | Who’s switching jobs October 6, 2014 Brooks Macdonald International (BMI) The investment manager has appointed Darren Zaman as chief executive of its offshore business. He was chief executive of DPZ Capital, a wealth management firm acquired by BMI in April. Zaman has also held roles at HSBC Investments and Le Masurier James and Chinn. BTMU Masato Miyachi has been promoted to [...]
Banks lead the pack as FTSE bounces back – London Report October 6, 2014 GAINS in major bank stocks led Britain’s benchmark equity index higher yesterday, and troubled supermarket group Tesco rose after new board appointments. The blue-chip FTSE 100 index, which fell to its lowest closing level in nearly a year last week, closed up by 0.6 per cent, or 35.74 points, at 6,563.65 points. Among the financials, [...]
Mobilising the best of British: How the City can get behind the new-look armed forces October 6, 2014 The Olympics, the Queen’s Diamond Jubilee and the annual Lord Mayor’s Show have all showcased the very best of Britain and London. And at the centre of each of these events have been our armed forces. As military operations in Afghanistan draw to a close, our armed forces are changing. We are expanding the role [...]
Virgin Money IPO: Retail investors denied place in yet another float October 2, 2014 Virgin Money defended its choice to sell its shares exclusively to institutional investors – as revealed yesterday in City A. M. – arguing it made for a smoother flotation. Small investors have missed the chance to invest in the majority of IPOs over the past year – the last very large float with a [...]
From Building Public Trust to European Diversity, the award for night with most awards held goes to… October 2, 2014 There’ll be some sore heads and award-laden pockets around the City this morning as its firms were treated to a variety of award ceremonies last night. PwC’s Building Public Trust awards took place on Park Lane, where four gongs were handed out recognising excellence in corporate reporting (no more pertinent an award in light of [...]
City Moves for 03 October 2014 | Who’s switching jobs October 2, 2014 JLL The real-estate focused professional services firm has announced three appointments to its UK workplace consultancy team. Trevor Alldridge (pictured) will head the team. He was previously managing director of AOS. John Symes joins as director of workplace strategy from AOS, where he was director of workplace strategy and project management for Europe, Middle East [...]
Why the public should condemn the next bank mega fine October 2, 2014 BARCLAYS was hit by another fine for misconduct last week, this time for £38m for failing to properly protect clients’ custody assets. Though dwarfed by other recent sanctions – notably Bank of America’s $16.65bn settlement for mis-selling mortgage-backed securities – it is another example of how banks’ shareholders are continuing to pay for executives’ misbehaviour. According [...]