Better outlook for banks one year after Lehman September 14, 2009 WHEN Lehman Brothers collapsed a year ago, it seemed that the world would never be the same. Global markets wobbled and once giant investment banks were crippled as sub-prime mortgages and credit default swaps unravelled and we braced ourselves for a worldwide recession. Wall Street had shrunk to less than a third of its pre-Lehman [...]
BLOW-BY-BLOW: LEHMAN BROTHERS’ COLLAPSE September 13, 2009 22 August 2007Lehman closes its subprime lender BNC Mortgage as the sector falls into crisis. 17 June 2008Bank posts a $2.8bn loss in just one fiscal quarter. 13 September 2008Barclays and Bank of America end buyout plans as New York Fed boss Tim Geithner holds crisis talks. 15 September 2008In the early hours, Lehman files [...]
Regulators in force in City women list… September 13, 2009 MARGARET Cole and Verena Ross lead a quartet of women from the financial regulation sector making their first appearances on the Financial News’ list of 100 most influential women in finance, released today. The pair, both from the Financial Services Authority, are joined by Jane de Lozey from the Serious Fraud Office and Barbara Ridpath [...]
BlackRock wants own trading platform September 13, 2009 BLACKROCK plans to create its own global trading platform which could help save its clients significant amounts of money in trading fees. The asset manager, set to become the world’s largest money manager with roughly $3 trillion (£1.79 trillion) in assets when it buys Barclays Global Investors (BGI) later this year, is in the early [...]
CITY MOVES WHO’S SWITCHING JOBS September 13, 2009 Berwin Leighton PaisnerThe law firm has hired Russell Clifford as an asset finance partner and David Irving, pictured, as a director in the trusts and private tax team. Clifford, who was previously at Allen and Overy, specialises in structured asset finance, particularly rolling stock financing transations. Irving, who formerly ran a private equity and real [...]
Job loss tally still rising as pay rate slips September 13, 2009 UNEMPLOYMENT is expected to show another sharp rise this week when official data is released on Wednesday, raising fears about consumer demand and the effect on the economic recovery. Economists expect the broader International Labour Organisation (ILO) measure of unemployment – which is seen as a truer picture of the state of the British labour [...]
BARCAP TRIUMPH IN SQUARE MILE RELAY September 10, 2009 THE City’s many sporting fanatics were out in force last night at the Bloomberg Square Mile Relay, which saw around 100 teams of ten runners competing over a specially-designed mile-long course. Special mention must go to third-placed West LB, second-placed Legal & General, and Barclays Capital, who broke L&G’s two-year winning streak to take this [...]
Barclays and JPMorgan top poll September 9, 2009 Barclays Capital and JPMorgan Chase have been given top rankings for fixed-income market share and quality of debt sales, trading and research. A survey of institutional investors by Greenwich Associates showed BarCap received 14.8 per cent of fixed-income market share while JPM took 14.2 per cent.
CITY MOVES WHO’S SWITCHING JOBS September 9, 2009 Piper JaffrayJens Rosebrock, pictured, joins the bank from Dresdner Kleinwort as head of clean technology investment banking. Peter Schuemers also joins as an analyst from Dresdner. Paul Lewington and Adrien Bommelaer join the technology team from Close Brothers and Credit Suisse. And in the European equity sales team, Bede Bruce-Lockhart joins as a managing director [...]
Large caps break 5,000 as travel gets its day in the sun September 9, 2009 THE FTSE 100 ended a week of waiting yesterday to pull itself above the 5,000 level by the close. The benchmark index rose by 1.2 per cent on the back of strong oil and bank stocks, as well as early gains on Wall Street. By the close the index was 56.96 points higher at 5,004.30, [...]