CITY MOVES | WHO’S SWITCHING JOBS September 29, 2011 BlackRock Simon Beresford and Neil Purvis have been appointed to help develop the investment fund’s UK defined contribution business. Beresford (pictured) joins as chief operating officer of the firm’s Peterborough DC administration centre, moving from the Nationwide Building Society, where he was head of mortgage administration. Purvis, previously head of HR at the firm, takes [...]
FTSE falls on worries of China and copper losing momentum September 29, 2011 BRITAIN’S leading share index fell back yesterday, bucking firmer trends from both US and European equity markets and under pressure from big falls by heavyweight miners on lower copper prices amid concerns over future demand. Traders highlighted some anxiety over growth from major metals consumer China ahead of official September PMI numbers, due out on [...]
Barclays is top of the league for complaints September 28, 2011 BRITISH customers made more complaints about Barclays than any other banking brand in the first half of the year, according to data released by the Financial Services Authority (FSA) yesterday. Barclays was the subject of 251,563 complaints, with 53 per cent of closed cases upheld in customers’ favour, the regulator’s figures showed. Next on the [...]
John Laing plans FTSE push with £155m rights issue September 28, 2011 THE infrastructure fund arm of project management group John Laing is planning to raise up to £155.8m through a capital raising that could push it into the FTSE 250. John Laing Infrastructure Fund (JLIF), which raised £270m in an initial public offering last November, said yesterday that it would issue 148.4m new shares at 105p per share. It [...]
CITY MOVES | WHO’S SWITCHING JOBS September 28, 2011 Kleinwort Benson Mouhammed Choukeir has been appointed as chief investment officer at the private bank, effective from October. Choukeir moves from Morgan Stanley, where he was head of multi-asset class investing in the wealth management division. Prior to that, he was a fixed income and foreign exchange portfolio manager with Morgan Stanley, having originally joined [...]
Man Group leads FTSE fallers after shock asset fall September 28, 2011 Hedge fund Man Group has ended the day almost 25 per cent, the biggest one-day plunge in its share price since November 2008, after shocking the markets with the scale of asset outflows over the past three months. UK stocks closed lower as confidence bled out of the market in the last hours of the [...]
Barclays reshuffles execs as Oppenheimer departs September 27, 2011 DEANNA Oppenheimer, one of Barclays’ top female executives, has announced she will leave the bank. The American will step down as chief executive of retail and business banking (RBB) in Britain and Europe on 1 October. She will stay on as vice-chair of the division until the end of the year. Ashok Vaswani, currently chief [...]
FTSE bounces four per cent as hope for euro plan grows September 27, 2011 BRITAIN’S top share index gained strongly yesterday, posting its biggest one-day percentage gain for 16 months, boosted by a rally from commodity stocks and advances by banks on increased hopes that European leaders will take decisive action to alleviate the region’s debt crisis encouraged investors. Banking stocks, among the most sensitive to the twists in [...]
France cuts growth forecasts September 26, 2011 Official estimates for France’s GDP growth in the three years to 2015 have been cut. The government now anticipates growth of two per cent, rather than 2.5 per year. Growth for 2011 and 2012 is expected to come in at 1.75 per cent. Analysts at Barclays Capital believe the figures still “remain on the optimistic [...]
CITY MOVES | WHO’S SWITCHING JOBS September 26, 2011 Linklaters David Cheyne will stay on at the law firm as a consultant in an active client-facing role, after his term as senior partner comes to an end on 30 September. Cheyne joined Linklaters in 1972 and became a partner in 1980. He was global head of the firm’s corporate department from 2000 to 2005, [...]