Barclays mulls pay clawback December 14, 2011 BARCLAYS is considering clawing back part of its executives’ bonuses over the bank’s £1bn mis-selling of insurance, chief executive Bob Diamond was forced to admit yesterday. After a testy exchange with Andrew Tyrie, chairman of the influential Treasury select committee of MPs, Diamond eventually conceded: “We are taking into account in our businesses that impact [...]
CITY MOVES | WHO’S SWITCHING JOBS December 14, 2011 Bargate Murray The City law firm has appointed Jonathan Lea as a senior associate in the corporate department. He will focus on developing relationships with the technology and digital media companies establishing themselves around the Silicon Roundabout area, as well as traditional corporate advisory work. Lea trained at Clyde & Co and has spent his [...]
Rothschild to snub broker Credit Suisse December 13, 2011 BILLIONAIRE Nat Rothschild is preparing to sideline longstanding adviser Credit Suisse by appointing a new broker for his London-listed mining venture Bumi, City A.M. can reveal. Bumi has held a beauty parade for investment banks that is likely to see either Barclays Capital or Bank of America Merrill Lynch appointed following a decision at the [...]
Both Santander and RBS still have a long way to go December 13, 2011 IN January I looked at how our major banks had fared over 2010, noting that it had been a bad year for perception of Santander, with customer opinion in particular driving scores on YouGov’s BrandIndex downwards at an alarming rate. RBS remained the worst perceived of the big banks, but had made strides throughout 2010. [...]
Cash bid for Endemol in face of debt December 12, 2011 TIME Warner has revised its bid for the debt-ridden television production company Endemol, restating its previous proposal of €1bn (£859m) as an all-cash offer. This comes amid talks of debt restructuring at the Dutch company behind Big Brother and Deal or No Deal, which has racked up €2.8bn of debt. It is expected that Endemol’s [...]
CITY MOVES | WHO’S SWITCHING JOBS December 12, 2011 Cushman & Wakefield The global property consultant has expanded its EMEA sustainability team by appointing Justy Mathew as sustainability analyst, based in London. He joins from Pensions & Investment Research Consultants, where he worked on corporate social responsibility. Reporting to Andries van der Walt, head of sustainability for EMEA, Mathew will deliver sustainability consultancy for [...]
Banks stocks fall as FSA calls for tighter regulation December 12, 2011 The FTSE 100 was pegged back by miners and banks in early trading as the Eurozone continued the struggle to dig itself out of the sovereign debt crisis Domestically the decision by the Government to shun a Eurozone agreement on closer fiscal ties was sinking in with cracks appearing in the coalition over the move. [...]
BILL OF THE WEEK December 11, 2011 BARCLAYS boss Bob Diamond last week revealed he encouraged up to 40 of his staff he considered “too ostentatious” to find other jobs. Something of a U-turn from the firm where a group of bankers famously spent £44,000 in the restaurant Petrus in 2001, but no matter – the point is that the six European [...]
Markets choppy as Europe rift widens December 9, 2011 The FTSE began to slip this morning as investors digested the impact of a new Eurozone agreement over fiscal integration which was shunned by Britain. Britain torpedoed the chances of a consensus as Prime Minister David Cameron refused to accept plans for a financial transactions tax that would clobber the City. Three French banks were [...]
PIPPA MIDDLETON JOINS BANKERS AT MAHIKI DUO’S LOW-KEY LAUNCH December 8, 2011 PIPPA Middleton is out and about again after splitting from her boyfriend Alex Loudon, an analyst at brewing giant SAB Miller. And one of the first places Middleton has patronised in her newly single life is the Markham Inn on Elystan Street, the latest restaurant venture from Mahiki owners Nick House and Piers Adam that [...]