FTSE closes narrowly up after fight back from banks September 23, 2011 A strong rebound in banking stocks saw the FTSE end higher on Friday after a turbulent week, with investors pinning hopes on more action from the European Central Bank to deal with the region’s debt crisis. As traders cited market talk of help from France with some form of capital injection to bolster French banks’ [...]
CITY MOVES | WHO’S SWITCHING JOBS September 22, 2011 Vipera The mobile financial services provider has appointed Luciano Martucci, the former chairman of IBM Italia, as a non-executive chairman. In addition, Petter Neby, chairman of Neby & Jahrmann, a cornerstone investor in Vipera, has been appointed as a non-executive director, and non-executive chairman John Defterios has resigned from the board. Sinclair IS The pharma [...]
Global markets hammered by US and China gloom September 22, 2011 The FTSE 100 plunged on opening today as a bleak view of the US economy from the Fed and fears over a slowdown in China – a key engine room in the global economy – took their toll. London tracked hefty falls on Wall Street and in Asia with the Hang Seng in Hong Kong [...]
DEALMAKER | OF THE YEAR September 21, 2011 SIMON ROBEY MORGAN STANLEY Simon Robey, the CEO and M&A co-chair with a “canny strategic mind”, helped the bank win slots as lead adviser on LSE’s C$3.bn takeover bid for Canadian rival TMX and BP’s efforts to tie up with Rosneft. SHORTLIST Jim Renwick, Barclays Capital Josh Critchley, RBC Rupert Hume-Kendall, BoA Merrill Lynch David [...]
INVESTMENT BANK | OF THE YEAR September 21, 2011 JP MORGAN CAZENOVE JP Morgan Cazenove has performed the most consistently of the shortlisted banks, said the judges, pointing to its strong year for M&A, pulling off deals such as AT&T’s $39bn acquisition of T-Mobile USA. SHORTLIST Evercore Bank of America Merrill Lynch Barclays Capital Goldman Sachs
MARKETING CAMPAIGN | OF THE YEAR September 21, 2011 NATWEST NatWest had the “most visible” campaign: a marketing drive that repaired its own – and the banking sector’s – image with its “Helpful Banking” ads by M&C Saatchi promising to serve its customers better. SHORTLIST American Express Barclays Stockbrokers LOCOG Microsoft
Lehman drops Barclays litigation September 21, 2011 Lehman Brothers Holdings said it will drop its appeal of a bankruptcy court’s ruling upholding Barclays’ purchase of its North American business in 2008. In a statement, Lehman said yesterday it will drop its challenge of Judge James Peck’s February ruling denying its attempt to overturn the sale, which was completed in the hectic days [...]
MEET THE JUDGES September 21, 2011 ALLISTER HEATH | CITY A.M. Allister joined City A.M. as editor in early 2008. He chaired our panel of judges. SIR MARTIN SORRELL WPP Sir Martin is the co-founder and chief executive of WPP, the world’s largest communications company. SIMON MACKENZIE-SMITH BANK OF AMERICA MERRILL LYNCH Simon is chairman of UK & Ireland corporate and [...]
CITY MOVES | WHO’S SWITCHING JOBS September 21, 2011 BlackRock David Snowdon has joined the investment manager’s Defined Contribution business to focus on business development by taking the BlackRock proposition to market and building relationships with DC clients. Snowdon joins from Barclays, where he spent six years as an employee benefit consultant, responsible for providing advice to and developing relationships with corporate clients. Prior [...]
This year’s hot sectors: risk and compliance September 21, 2011 WE’VE been told that the boom years are over. The fast-growth sectors of City employment have ground to a halt. New job opportunities will be fewer and far between. Well, that is unless you work in risk and compliance: the fallout from the credit crunch has given a new lease of life to these sticklers [...]