City Moves for 05 June 2014 | Who’s switching jobs June 4, 2014 Regis The property investment firm has hired James Futter as a senior associate in its acquisition team. He will primarily focus on freehold ground rent portfolio acquisitions in the UK. Futter joins from Barratt Developments, where he was a south region analyst. Jupiter The asset management company has announced the appointment of Ross Teverson as [...]
Terry Smith to quit as boss of Tullett Prebon June 3, 2014 INTERDEALER broker Tullett Prebon yesterday confirmed high profile chief executive and City veteran Terry Smith will step down from the group after nearly eight years at the helm. Speculation about Smith’s departure, which first emerged on Monday, sent shares up nearly five per cent yesterday prior to the statement, made after markets closed last night. [...]
Analyst Views: What did you think of Wolseley’s quarterly trading update? June 3, 2014 PAUL CHECKETTS | BARCLAYS Trading in the third quarter was slightly better than our expectations… However the UK was much worse on like-for-likes with a 3.5 per cent decline, although margin of 5.3 per cent was 20 basis points better. They don’t seem to be getting the balance between growth and margins quite right. CLYDE [...]
Exova appoints Goldman Sachs June 3, 2014 Exova Group, the newly floated laboratory testing company, yesterday said it appointed Goldman Sachs and Credit Suisse as joint corporate brokers. The business, which floated in April, used the two investment banks as joint global co-ordinators, joint sponsors and joint bookrunners on the initial public offering, alongside joint bookrunner Barclays. Goldman has about 10 FTSE [...]
City Moves for 03 June 2014 | Who’s switching jobs June 2, 2014 Charles Stanley The investment management firm has announced the appointment of Paul Abberley as chief investment officer. He was most recently at Aviva Investors, where he was acting chief executive and member of its group executive committee. Prior to that, Abberley spent eight years at ABN Amro Asset Management, where he was chief investment officer for its [...]
Tesco seals deal to sell House of Fraser products June 2, 2014 TESCO has struck a deal with House of Fraser to sell the department store’s products on its website, the supermarket giant said yesterday, as it seeks to stem its declining sales. After trialling the offer earlier this month, Tesco said House of Fraser has agreed to sell 2,000 products from homeware brands including Linea and [...]
Barclays enters top 20 biggest broker rankings June 2, 2014 BARCLAYS jumped into the top 20 biggest stockbrokers by client numbers for the first time last quarter, new rankings out today show. The bank’s roster of 43 clients put it in 20th spot on the list, which was headed by JP Cazenove with 218 clients. Second place was taken by Numis with 156 clients, with [...]
Transport for London looks for £3.5bn of commercial revenues June 2, 2014 TRANSPORT for London (TfL) has begun searching for a new sponsor of the city’s bicycle hire scheme, hoping to bring in more money and a long-term partner following Barclays’ departure. The Mayor of London, Boris Johnson, has written to 200 of TfL’s biggest advertisers to gauge interest in sponsoring the bicycles, which were launched on [...]
Best of the Brokers for 02 June 2014 June 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ASOS N+1 Singer has lowered its target price on the online fashion retailer from 5300p to 4100p but maintained its “hold” rating on the stock. The broker is concerned that the group’s sales growth rate in overseas markets is under threat, and has [...]
London Report: UK data to show economy is on path to recovery June 2, 2014 ECONOMIC indicators out this week are expected to show the UK recovery continuing at a healthy pace. PMI survey data for services, manufacturing and construction are likely to show strong growth throughout May. Blerina Uruci, of Barclays, expects services PMI to hit 60 in May, up from 58.7 and well above the 50 figure which [...]