UBS: Barclays too big for UK March 29, 2011 BARCLAYS will have no choice but to consider leaving the UK, according to prominent UBS banks analyst John Paul-Crutchley. In a note to investors asking if the bank could be “the first to leave” London, Paul-Crutchley said yesterday that Barlcays and JP Morgan are “broadly comparable”, except that the Fed has given JP Morgan permission [...]
Only 4.2pc of top bankers are women March 28, 2011 ONLY 17 of the top 220 most senior bankers on investment banks’ executive committees or equivalent are women, according to research published yesterday. The study, carried out by Financial News, shows that women make up just eight per cent of banks’ executive, corporate and investment banking committees – fewer than one female member for each [...]
Barclays Wealth mulls move back to Mayfair March 28, 2011 BARCLAYS Wealth is considering moving its high net worth team back to its Mayfair office after just over a year in Canary Wharf, City A.M. can confirm. Barclays Wealth, which has around 60 bankers in its high net worth division to manage assets for those with more than £5m to invest, could move back into [...]
Brokers’ notes boost UK banks March 28, 2011 SHARES in two major UK banks were boosted by bullish notes from brokers yesterday. Barclays and HSBC spent topped the FTSE 100 risers board after analysts at JP Morgan and Barclays Capital said investors should buy European banks. Barclays Capital analysts, led by Simon Samuels, said 11 of Europe’s biggest banks were trading at an [...]
Budget broadly welcomed by businesses, survey says March 28, 2011 CHANCELLOR George Osborne received a boost yesterday as businesses responded positively to last week’s Budget. Almost nine in ten (88 per cent) of corporate respondents said the Budget would aid private sector growth, Barclays Corporate revealed. Meanwhile a snap poll from the Federation of Small Businesses (FSB) showed that over twice as many, 39 per [...]
Bullish brokers boost banks as energy and mining stocks sag March 28, 2011 BULLISH broker comment helped push the banking sector higher yesterday, as Britain’s top share index neared key technical resistance levels after its recent rally, with commodity stocks weighing on the upside. The FTSE 100 closed 3.73 points, or 0.1 per cent, higher at 5,904.49, near its 50-day moving average of 5,933.83. The index has traded [...]
CITY MOVES | WHO’S SWITCHING JOBS March 28, 2011 Ambition UK Simon Lynch has been appointed as managing director of Ambition UK, the London arm of the boutique recruitment business. Lynch has worked at Ambition since November 2010, having joined as a director in the firm’s Hong Kong office. Previously, Lynch spent 11 years with Michael Page International, where he led the national technology [...]
Southern Cross aims for rent deal March 27, 2011 STRUGGLING care home operator Southern Cross is preparing for “hardball negotiations” with landlords to cut its massive rental bill, a person close to the firm said yesterday. Southern Cross last week wrote to around a third of its landlords to request a switch from quarterly to monthly payments, after taking on KPMG’s Richard Fleming and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 24, 2011 FINANCIAL TIMES BARCLAYS AT CENTRE OF LIBOR INQUIRY Barclays is emerging as a key focus of the US and UK regulatory probe into alleged rigging of benchmark interbank lending rates that are the reference point for $350,000bn in financial products, people familiar with the investigation said. Investigators are probing whether communications between the bank’s traders [...]
Retailers and mining stocks power rebound in the FTSE March 24, 2011 RETAILERS were among the top performers in a rally in Britain’s top share index yesterday that took the FTSE 100 back to levels last seen just before the earthquake in Japan. Results from Kingfisher and Next showed how some retailers can overcome tough trading conditions in the UK. Kingfisher, which hiked its dividend and reported [...]