Tidjane Thiam facing a second consecutive quarterly loss at Credit Suisse May 8, 2016 Tidjane Thiam is set to come under more pressure this week when Credit Suisse reports its first-quarter results. Thiam took over as chief executive of the bank from insurance group Prudential last July. Since then, Credit Suisse's share price has plummeted by around 50 per cent to $14 (£9.70). [charts-share-price id="250"] Read more: Credit Suisse braces for bumpy road ahead The [...]
Palantir founder hits out at claims unicorn startup is struggling May 8, 2016 A founder of one of the world's most highly valued startups has hit back at claims the company is struggling with the loss of clients and staff. Joe Lonsdale, a founder of the secretive startup Palantir along with PayPal pioneer Peter Thiel and others, which boasts the Bank of England as one of its clients, said it was [...]
City Moves for 4 May 2016 | Who’s switching jobs May 4, 2016 Marsh Marsh, the insurance broker and risk adviser and a wholly owned subsidiary of Marsh & McLennan Companies, has announced that Abbey Sturrock has joined the firm’s political risk and structured credit practice as a senior vice president within the public agency group. Based in London, Abbey will be responsible for delivering Marsh’s market-leading advisory [...]
A Spring is in the air this May – Shareholder revolt set to build with Aviva and Reckitt Benckiser meetings May 3, 2016 Company bosses are braced for further uprisings this week. Consumer goods group Reckitt Benckiser, insurance giant Aviva, and FTSE 250 hedge fund Man Group all host shareholders for their annual general meetings. Last week the shareholder spring picked up pace as investors voted against boardroom pay rewards for engineering firm Weir Group and Shire, the FTSE [...]
City Moves for 28 March 2016 | Who’s switching jobs April 28, 2016 Tibbalds Tibbalds Planning and Urban Design has named Matt Shillito as consultant planner and has appointed Fiona Sibley as senior planner. Matt rejoins Tibbalds after spending 10 years living overseas, where he was a senior planner for Vancouver’s planning and development services. Fiona brings over three years’ experience in the industry. Having worked at other planning [...]
Barclays profits tumble 25 per cent as investment banking woes continue April 27, 2016 Barclays pre-tax profits have fallen by almost a quarter year-on-year as the investment bank division struggled to perform. But with a sign of progress being made, and confidence about the outlook for the rest of the year, Barclays' share price rose 3.9 per cent in early trading. The figures Barclays' first quarter pre-tax profit dropped 25 per [...]
Game Digital agrees £100m financing facility with shareholder Duodi’s “associate” Lajedosa April 21, 2016 Struggling computer games retailer Game Digital has agreed a new financing facility to give it breathing room while the business gets back on track. The group has agreed an asset-backed revolving loan facility of up to £100m with Lajedosa Investments, which is described as "an entity associated with Duodi Investments" – the major shareholder of Game, which is [...]
Costly EU regulation has not made financial services safer or better – but Brexit is no silver bullet April 18, 2016 The City is split when it comes to Brexit. Certainly, the larger City institutions with significant EU business tend to side with Remain. However, smaller companies and those with a more global business model are more divided. The supporters of the EU value the Single Market. They seem to believe that it promotes free trade [...]
City Moves for 13 April 2016 | Who’s switching jobs April 13, 2016 Peel Hunt Peel Hunt, the independent corporate broking, advisory and trading house focused on UK mid and small caps, is pleased to announce the appointment of Simon Gardner-Bond (pictured) to the role of natural resources specialist sales, effective immediately. Simon joins from Investec Asset Management, where he worked for five years as a senior analyst [...]
Italy’s €5bn bailout fund for ailing banks has failed to prevent further share sell offs April 12, 2016 Italy’s most sound financial institutions have poured cash into a €5bn (£4bn) bailout fund for the country's vulnerable lenders in an attempt to calm investor fears over the stability of the beleaguered sector. Shares in two of Italy’s most troubled banks bounced today however, with Monte dei Paschi di Siene and Banco Popolare shares climbing by 10 [...]