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 [...]
Shawbrook Bank boss quits after less than 18 months in the job April 2, 2014 IAN HENDERSON yesterday resigned as chief executive of challenger bank Shawbrook, after joining in December 2012. The outgoing boss gave no explanation for his exit so soon after joining the bank. Previously he was chief operating officer of Barclays Wealth, and had also been chief executive of RBS International, leading its business banking arms. Henderson has been [...]
City Moves for 03 April 2014 | Who’s switching jobs April 2, 2014 Waverton Investment Management The investment management firm has appointed Ian Enslin to its charities team. He joins from Newton Asset Management, and has previously worked at Barings, Invesco and Norwich Union. City Financial The asset management business has hired Mark Pearson as marketing director. He was formerly head of investment strategy and communications at Aegon [...]
Asos’ profit takes a hit as retailer announces £2.5bn sales goal April 2, 2014 Asos has announced a 22 per cent fall in profit before tax to £20.1m the six months to February, as heavy investment in customer proposition, infrastructure, personnel and capacity takes its toll. But expansion costs were expected by and for the fashion retailer, and Numis has described it as “loaded with investment for growth” this morning. [...]