CITY MOVES | WHO’S SWITCHING JOBS March 24, 2010 VANGUARD INVESTMENTS The investment group has appointed David Plumstead to lead its institutional and corporate sales team in the UK. Plumstead initially joined Vanguard in July last year as business development manager, responsible for managing relationships across UK platforms. He has over 25 years of industry experience and previously worked for both Clerical Medical and [...]
CITY MOVES | WHO’S SWITCHING JOBS March 23, 2010 Ernst & Young Dawn Aloof has joined EY from rival PricewaterhouseCoopers, to lead its Europe, Middle East, India and Africa (EMEIA) financial services transaction integration practice. Aloof also previously spent 15 years at Barclays, where she was responsible for clients’ global operating strategy, planning and M&A operations. She is joined by four ex-PwC colleagues: Ari [...]
FTSE 100 peaks at 21-month high led by banks and energy March 23, 2010 BRITAIN’S top share index rose 0.5 per cent yesterday, hitting a fresh 21-month closing high, led by commodity, enErgy and banking stocks as fears over monetary tightening effects ebbed. The FTSE 100 index ended 29.09 points higher at 5,673.63, after hitting an intra-day high of 5,695.94. It was the highest close since June 19 2008. [...]
London’s FTSE 100 ends down after weak oil stocks weigh on the market March 22, 2010 BRITAIN’S top share index ended slightly lower yesterday, as weakness in oil stocks outpaced firmer drugmakers, as the US House of Representatives approved a healthcare reform bill, and with miners also in demand. The FTSE 100 ended down 5.58 points, or 0.1 per cent, at 5,644.54 after a volatile session which saw the index dip [...]
CITY VIEWS: WOULD A BANK TAX HURT THE CITY? March 22, 2010 MICHAEL WONG | BARCLAYS GLOBAL INVESTORS “It depends on what level its set at, and would need to be adopted by the US and EU too since this country depends on financial services. The Tories have proposed this as a publicity stunt to win the favour of the electorate, and since the City is about [...]
Lloyds’ remuneration chairman quits ahead of investor showdown March 22, 2010 The head of the remuneration committee at Lloyds Banking Group will retire in May, sidestepping a potential fight with shareholders over the bonus awarded to the bailed-out bank’s chief executive. Wolfgang Berndt, 67, will step down from the board at the bank’s annual shareholder meeting, Lloyd’s said. He is leaving just months after approving a [...]
Barclays hit by charge on restructuring March 22, 2010 BARCLAYS yesterday updated the market on the broad-ranging reorganisation of its group structure, admitting it will take a £100m charge in the first half of 2010 as a result of the restructuring of Barclays Corporate. The £100m charge reflects redundancy and other costs from Barclays’ exit from its Bank Akita retail arm in Indonesia, a [...]
Barclays Capital chief in line for a bumper £60m payday March 21, 2010 BOB Diamond, Barclays’ highly-respected investment banking chief, has been handed a equity-based incentive pay package by the bank which could be worth up to £60m by the time the shares are cashed in. Diamond, whose basic salary is £384,000, has already been handed £6m of shares which vest in three years’ time. He could also [...]
Barclays to boost new business March 21, 2010 BARCLAYS, the UK’s second-largest bank, is today launching a campaign to boost renewed optimism in the business world, offering £500,000 to the country’s most promising entrepreneurs in conjunction with Ariadne Capital boss and City A.M. columnist Julie Meyer. The “Take One Small Step” competition will award an equal share of £500,000 in cash to each [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 18, 2010 FINANCIAL TIMES ALARM WAS RAISED ON LEHMAN Securities and Exchange Commission and Federal Reserve officials were warned by a leading Wall Street rival that Lehman Brothers was incorrectly calculating a key measure of its financial health months before its collapse in 2008, people familiar with the matter say. Former Merrill Lynch officials said they contacted [...]