City Moves for 08 April 2015 | Who’s switching jobs April 7, 2015 Marsh The insurance and risk management firm has appointed Sally Williams as director of risk and governance. She joins from National Australia Bank Group, where she was head of risk, London branch. Williams has also worked as group director of risk at Aviva. Legal & General Investment Management The asset management firm has announced two [...]
Tidjane Thiam earnt £11.8m in last year as Prudential’s chief executive March 31, 2015 Outgoing Prudential chief executive Tidjane Thiam received £11.8m in his final year at the company, the insurer revealed yesterday. The vast majority of that came from long-term incentive awards – those payouts gave him £8.3m. Combined with a salary of just over £1m, pension contributions of almost £400,000 and a bonus of £2.1m, the boss [...]
PPI complaints to banks fall but card anger rises March 30, 2015 PAYMENT protection insurance (PPI) complaints are dropping away, and now account for fewer than half of all complaints to banks, the City watchdog said yesterday. Banks received 2.18m complaints from July to December 2014, a fall of 14 per cent on the same period of 2013. Of those, 1.06m were still PPI complaints – making [...]
Accounts with benefits: The perks of premium bank accounts March 26, 2015 Nothing says “badge of success” quite like a private bank account. Historically, offering them to customers has been the preserve of the private bank, but in recent years, growing numbers of high street institutions have begun to offer packaged – or premium – accounts to customers with substantial savings and (more often than not) six-figure [...]
Missed financial targets at RSA wipe a third off of Stephen Hester’s bonus March 23, 2015 RSA chief executive Stephen Hester has been granted 68 per cent of his potential bonus, with missed financial targets mostly responsible for the loss of nearly one third. Hester’s £939,000 bonus took his total remuneration for 2014 to £2.12m, according to the company’s annual report released yesterday. Hester became embroiled in several pay scandals as [...]
Eurozone to see lending pick-up after long slump March 23, 2015 MORTGAGE lending is predicted to hit an all-time high in the Eurozone this year, while business lending will grow for the first time in four years, according to forecasts from EY. The accountancy firm says the bloc’s recovery, combined with lower energy prices, will mean this year is a turning point after a decade-long lending [...]
Ex-Moore Europe Capital employee Julian Rifat sentenced to 19 months for insider trading March 19, 2015 Former Moore Europe Capital employee Julian Rifat was sentenced to 19 months imprisonment at Southwark Crown Court yesterday for insider trading. Rifat has also been fined £100,000 for the same offences and ordered to pay costs of £159,402. He was the third individual to be sentenced for insider dealing offences since the launch of Operation [...]
Is the ECB speaking too soon in saying that QE is already helping the Eurozone economy? March 19, 2015 Danae Kyriakopoulou, an economist at the Centre for Economics and Business Research, says Yes Central bankers in Frankfurt have been patting each other on the back as the euro has continued to slide. At first glance, why shouldn’t they? Their QE has sent the euro tumbling, making Eurozone exports more competitive and raising prospects for [...]
Budget 2015: Here are George Osborne’s best quotes plus his Budget speech in full March 18, 2015 George Osborne's final Budget during this parliament had few surprises but plenty of great quips, including – to the dismay of bookies everywhere – a quip about Ed Miliband's now-infamous second kitchen. Here's a selection of our favourites from today's big speech. (Source: Getty/City A.M.) (Source: Getty/City A.M) (Source: Getty/City A.M.) [...]
From BHS and John Lewis to TSB and the Apple Watch: What got us talking this week? March 13, 2015 Jeremy Clarkson punched a man over a steak. Blurred Lines went from being the song with questionable gender politics to being a Marvin Gaye rip-off. And somewhere above our heads, a pilot got bored and drew rude pictures using GPS flight data. Here is what got us talking at City A.M. 1. After 15 [...]