City Moves for 08 April 2014 | Who’s switching jobs April 7, 2014 Barclays The bank has announced the appointment of Karl Trumper as head of trade and working capital for the UK. He joined in 2002, and was most recently head of sales for larger business. Towers Watson Tammy Richardson has been appointed UK head of insurance management consultancy at the professional services company. She joined in [...]
CNBC Comment: Investors beware as banks go coco loco April 7, 2014 INVESTING in banks has become as chancy as having a flutter on the Grand National. False starts, stewards inquiries and the City equivalent of leaping 30 fences – all enlivened by thundering competition. But investors still harbour the hope of backing an unlikely winner. The trade in cocos, a hybrid of debt and equity, has [...]
What you need to know before the open April 7, 2014 A late selloff on US markets Friday is expected to mean a lower open for European bourses today, despite a strong finish last week. Data in this morning show industrial production in Germany expanded by more than expected in February – by 0.4 per cent. This was marginally less than the 0.7 per cent growth [...]
Barclays braces for rebellion at annual meeting April 7, 2014 BARCLAYS chief executive Antony Jenkins is bracing for an investor revolt over ballooning bonuses at the bank ahead of its crunch shareholder meeting later this month. Jenkins, who took over in 2012 promising an end to cavalier payment practices, hiked the bonus pool 10 per cent to £2.38bn despite a fall in annual profits, prompting [...]
Bob Diamond agrees to second African banking deal in Rwanda April 7, 2014 FORMER Barclays boss Bob Diamond has struck a deal to buy the commercial arm of Rwanda’s state-owned bank. His cash shell Atlas Mara signed a memorandum of understanding with the Development Bank of Rwanda (BRD) yesterday to buy the assets once they have been spun off from its development arm. The deal was signed in [...]
HSBC’s former legal boss hired for Aquis board April 7, 2014 AQUIS Exchange, the trading platform set up by the former boss of Chi-X Europe, has beefed up its board by adding HSBC’s ex-legal chief Richard Bennett to its roster. Bennett, who was group general counsel of HSBC and spent 33 years at the bank, will join Aquis’s boardroom today as an independent non-executive director. The [...]
Hughton sacked as Norwich turn to untried Adams April 6, 2014 NORWICH have charged youth team manager Neil Adams with guiding them to Premier League safety after last night sacking manager Chris Hughton with five games of the season remaining. Saturday’s home defeat to fellow strugglers West Brom left Norwich one place and five points clear of the relegation zone, leading some angry supporters to throw [...]
He’s back: Star stockpicker Neil Woodford returns to City in spectacular style April 3, 2014 THE MOST celebrated stock market guru in Britain made a bold step back into the fray yesterday after clinching a deal to manage more than £3.5bn of cash from one of the country’s biggest wealth managers. Money manager Neil Woodford, whose investment prowess would have turned £1,000 of cash in 1990 into £23,265 today, has [...]
British Land secures £1bn in debt April 3, 2014 Property giant British Land said yesterday it has signed a new £785m loan with a syndicate of 14 banks and that it has also closed a £200m US private debt placement. The unsecured five-year revolving credit facility is provided by banks including Barclays, Bank of China and Royal Bank of Canada.
Which surprise stocks will see the biggest wins from an Internet of Things? April 3, 2014 Hot on the heels of a 75-page paper from analysts at Barclays dubbed the ‘Hyperconnected World: The digital invasion” comes another mammoth paper from banking analysts on the invasion of the internet. Morgan Stanley have published a 96-page tome detailing in great precision on the Internet of Things, or IoT in short, and its impact [...]