DTZ on target as hopes of a recovery rise March 15, 2010 PROPERTY broker DTZ Holdings yesterday said it remains on target to meet market expectations for its full year results, anticipating £70m of cost savings for the period. Boosting hopes of recovery in the sector, DTZ reported better levels of activity in its key markets of London and Paris and increased activity in the investment and [...]
CITY MOVES | WHO’S SWITCHING JOBS March 15, 2010 Universal Music Max Hole has been promoted to the position of chief operating officer at Universal Music Group International (UMGI). Hole, who will take up his new role on 1 July, is currently executive vice president of UMGI and president of the group’s Asia Pacific operations. He joined the firm in 1998 from Warner Music [...]
FTSE slips on caution over banking stocks and falling commodity prices March 15, 2010 FALLING commodity prices dented miners and energy stocks and banks fell, pushing Britain’s top share index 0.6 per cent lower yesterday, with investors cautious before central bank policy meetings later in the week. The FTSE 100 index ended 31.80 down points at 5,593.85, having risen 0.5 per cent last week. Miners, sensitive to shifts in [...]
THE TIPSTER March 15, 2010 AFTER hitting 29-year highs at the start of February, global raw sugar prices have since tumbled as supply in Brazil and India was stronger than expected. Prices have now fallen below 20 cents per pound, after hitting highs of 30.40 cents per pound back in February. Can the fall in prices continue? Spreadex has a [...]
Acquisitions are back on the agenda this year March 14, 2010 M&A teams in investment banks all over London must be salivating at the prospect of a wave of new deals. Acquisitions are back on the agenda. In many ways it makes sense. Last year many companies re-trenched, rebuilt their balance sheets and hoped for the best. They have been hoarding cash but now wonder if [...]
CITY MOVES | WHO’S SWITCHING JOBS March 14, 2010 Coutts Private Office Rupert Allison has joined Coutts Private Office as senior client partner from after three years with HSBC private bank as a relationship manager/ director. At Coutts, Allison will advise high-net-worth individuals whose assets top £30m and will report to global head of Coutts private office, Duncan McIntyre. Allison also spent 15 years [...]
CITY MOVES | WHO’S SWITCHING JOBS March 11, 2010 Alexander Proudfoot The consultancy has hired a slew of City heavyweights to its new UK advisory board, chaired by Sir Patrick Brown, chair of the Go-Ahead Group. The board also includes Schroders chairman Michael Miles (pictured); AON UK chairman Paul Manduca; Regus Group chairman John Matthews; and Christopher Sheridan, a non-executive at Standard Bank. Lexicon [...]
Rules on pay disclosure to be tightened March 10, 2010 TENS of thousands of investment bankers could be forced to disclose the size of their pay packet, in a government move that will send shock waves through the City. City minister Lord Myners yesterday revealed government plans to further tighten policy proposals first put forward by Sir David Walker in a corporate governance report last [...]
CAUGHT IN THE THROES OF A NIGHT OF PASSION March 10, 2010 AS AN elite bunch of the City’s most successful ladies and gentlemen left the Mansion House last night after a fundraising “Passion and Performance” evening hosted by Lord Mayor Nick Anstee, they should have been justifiably proud. For between just 320 guests from blue-blooded institutions such as Barclays, Accenture, Linklaters, HSBC, RBS, Lloyds Banking Group, [...]
CITY VIEWS: IS BARCLAYS RIGHT TO TRY AND BUY AN AMERICAN BANK? March 10, 2010 CHRIS HARRIS| INSIDE INVESTMENT “What I think on the subject is that it seems like a good idea. Considering the fact that values at financial companies are depressed at the moment, it’s probably a good acquisition for Barclays.” RAPHAEL VIALLET | FIRST STATE INVESTMENTS “Barclays has already had some experience in this area and with [...]