Banks slash juniors’ pay September 3, 2012 INVESTMENT bankers’ pay tumbled further this year, with junior staff’s bonuses plunging on poor market conditions, a lack of competition in the sector and sustained pressure to avoid public outrage. Average bonuses fell 25 per cent on the year for analysts in the investment banks’ merger and acquisitions (M&A) units, following a fall of 10 [...]
Karpo is a curate’s egg but its kitchen still impresses September 3, 2012 RESTAURANT KARPO 23-27 Euston Road, NW1 2SD Tel: 020 7843 2221 FOOD *** SERVICE **** ATMOSPHERE *** Cost per person without wine: £30 Train stations don’t tend to attract the nicest crowds. Wherever you go in the world, the very worst people from that area will naturally gravitate towards the train station; the pimps and [...]
What the other papers say this morning September 2, 2012 FINANCIAL TIMES CIC sells bulk of its BlackRock stake China Investment Corp has sold most of its stake in BlackRock, the world’s largest asset manager, as part of a wider strategy by the sovereign wealth to cut its holdings in global financial institutions. CIC bought just under 3 per cent of BlackRock’s shares, worth about [...]
Jenkins set to cut bad products September 2, 2012 BARCLAYS could look to cut unprofitable business lines in its investment banking and other arms under a structural review planned by new boss Antony Jenkins. The incoming chief executive has pledged to keep the investment bank intact and said he values the universal banking model. But his background in commercial and retail banking means some [...]
Was it a risky move by Barclays to appoint Antony Jenkins as its new chief executive? September 2, 2012 YES Erin Davis All in all, we’re pleased with the appointment of Antony Jenkins but note that it is not without risk. Together, Walker and Jenkins project a credible and much-needed change in Barclays’ corporate culture. In our opinion, former chief executive Bob Diamond’s often brash demeanour exacerbated negative public and political sentiment towards the [...]
Rapid responses September 2, 2012 The inside man [RE: Barclays appoints Antony Jenkins as chief executive, Thursday] Antony Jenkins is a surprising choice, but it may have been better if outside executives were appointed. Take nothing away from the validity of Jenkins’s candidacy; it was first class. He ticked all the boxes. He was a “Barclays Man” through to the [...]
Eurozone inflation jumps August 31, 2012 Eurozone inflation jumped more than expected in August, data showed today, likely reducing chances that the European Central Bank (ECB) will cut interest rates next Thursday. Consumer prices in the 17 countries sharing the euro rose 2.6 per cent year on year, just above forecasts and accelerating from 2.4 per cent in July, the European [...]
FTSE opens flat ahead of Jackson Hole speech August 31, 2012 The blue chip index opened modestly up this morning, as investors were cautious ahead of Fed chairman Ben Bernanke’s Jackson Hole speech later, where he is expected to signal more stimulus for the US economy. Rental equipment supplier Lavendon Group led the risers, up more than nine per cent in early deals. Investors were buoyed [...]
Jenkins vows to mend Barclays August 30, 2012 ANTONY Jenkins yesterday pledged to restore Barclays’ tarnished reputation by taking the lead in reforming the industry, insisting he will wholeheartedly take part in schemes to boost lending and will seek to implement the new ring-fence well ahead of official deadlines. Jenkins has taken over from shamed chief executive Bob Diamond who resigned at the [...]
Jenkins gets City backing as seasoned professional August 30, 2012 BARCLAYS is in for a sharp change of culture, despite the promotion of a leading insider to the top job, analysts said yesterday. Antony Jenkins joined the bank more than 30 years ago, with an interval at Citi, and as such could be open to criticism as Barclays faces calls to change its culture radically. [...]