City Moves for 20 February 2014 | Who’s switching jobs February 19, 2014 Santander Corporate & Commercial Andrew Whelan has been appointed managing director for regional real estate finance at Santander Corporate & Commercial. He joined in 2010 from Bank of Ireland, and has previously held roles at Barclays. Aldermore Asset Finance The challenger bank has made three appointments to its asset finance team. Carey Hansford joins as a business [...]
London Report: FTSE pauses for breath as sharp rally peters out February 19, 2014 THE UK’S top shares steadied yesterday as analysts bet the strong rally that followed a slump in emerging markets has run out of steam, though Sports Direct gained on robust profits. The FTSE 100 closed up 0.28 points – flat in percentage terms – at 6,796.71 points. It hit 6,810.48, its highest since late January, [...]
Banks face mega fines as Britain imports US style corporate justice February 19, 2014 UNDER the headlines “Bank Robbery” and “Uncle Scam”, there was a stormy reaction to the largest settlement ever between the US government and a corporation – JP Morgan’s $13bn (£7.7bn) November 2013 pay-out over the mis-selling of mortgage securities. But penalties of this size may not be peculiar to the US for long. Britain’s adoption [...]
Someone in London just bought a house with an app February 19, 2014 For the first time ever customers will be able to buy houses using their smartphones, thanks to a new partnership between Barclays and Savills Auctions. Barclays Pingit app was used to make a deposit for the first time this month – by a homeowner who splashed out £23,000 on a house in Mitcham, South London. [...]
Metro Bank in running for PwC bank contract February 18, 2014 METRO Bank, RBS and Santander are understood to be among the banks bidding for PwC’s business, as the professional services firm shakes up its finance relationships. The changes come as PwC takes on HSBC as an audit client, and so can no longer bank with the firm. PwC also audits Barclays and Lloyds, narrowing the field in [...]
Retail investors to be courted in biggest Nordic flotation in years February 18, 2014 ISS, the Danish outsourcing group, intends to attract retail investors to its stock market flotation in Copenhagen, the biggest Nordic flotation in 14 years. “There’s potential to have strong demand,” chief executive Jeff Gravenhorst said yesterday. “The percentage that goes to the retail investor will depend on their appetite.” ISS, which is part-owned by Sweden’s [...]
Poundland hires retail veterans to propel float February 18, 2014 DISCOUNT retailer Poundland yesterday unveiled a heavyweight board lineup and its first female non-executive director as part of plans to float on London’s stock market next month. The Birmingham-based company, which currently has around 500 stores, has recruited former Travelodge chief executive Grant Hearn and Merlin Entertainments group HR director Tea Colaianni, who will become [...]
InterContinental upbeat despite slump in shares February 18, 2014 IMPROVING conditions in Europe and rising US demand helped InterContinental Hotels Group (IHG) deliver full-year profits ahead of forecasts, despite shares sliding more than three per cent yesterday. The owner of Crowne Plaza, Holiday Inn, and InterContinental said pre-tax profits rose 10 per cent to $600m (£359.3m) in the year to 31 December, ahead of [...]
Paragon becomes second new bank in 100 years February 18, 2014 Paragon Bank launches today after receiving a license from the authorities – the first new license since Metro Bank’s in 2010, making Paragon the second new bank in over 100 years. The bank’s parent group was already engaged in specialist lending such as buy to let mortgages. But this license allows it to [...]
Candy Crush maker King’s $500m IPO on its way February 18, 2014 The developer of addictive puzzle solving games, King, has confirmed that it's going to market. The company has filed for a $500m initial public offering. It boats 324m monthly unique users, and offers a portfolio of over 180 games. King hopes to list ordinary shares on the New York Stock Exchange with the ticket symbol [...]