City Moves for 16 July 2014 | Who’s switching jobs July 16, 2014 Linklaters The law firm has announced the appointments of Matthew Middleditch as global head of corporate and Sarah Wiggins (pictured) as global head of client sectors. Middleditch is currently Linklaters’s Hong Kong-based head of corporate in Asia. Wiggins is a senior corporate partner. Adamant Ventures The oil & gas venture capital fund has announced the [...]
This is the start of a new democratic space race – and Britain is at its head July 16, 2014 Yesterday's announcement that the government has shortlisted eight potential sites for a UK spaceport, and enabled a regulatory regime for manned spaceflight, is a breakthrough moment for our £11bn space sector. While the industry has already enjoyed Bric-style growth rates in recent years, we are now on track to remove crucial blockages to UK leadership [...]
Wonga appoints former boss of RSA as chair to lead turnaround July 14, 2014 Payday lender Wonga yesterday named former RSA Insurance group chief executive Andy Haste as chairman, who vowed to keep the company in line with tougher rules being imposed the loans industry. Haste replaces former chair and co-founder Errol Damelin, who announced his departure last month. Wonga and other short-term lenders have come under [...]
Entire wholesale banking sector faces probe for unfair behaviour July 9, 2014 Every aspect of the wholesale banking market faces a new round of scrutiny, the City watchdog warned yesterday. From corporate banking to asset management, and investment banking to market infrastructure, the Financial Conduct Authority (FCA) is appealing for complaints over a lack of competition. It is gathering evidence over the next three months to see which [...]
City Moves for 08 July 2014 | Who’s switching jobs July 7, 2014 Novae Reeken Patel has been appointed chief risk officer at the insurer and reinsurer. He joins from PwC, where he was a partner in the general insurance division and had been its London market actuarial leader. Patel is also chairman of the London Market Actuaries Group. Macquarie Investment Management Macquarie Group’s investment management arm has [...]
City Moves for 03 July 2014 | Who’s switching jobs July 2, 2014 BLM The risk and insurance law firm has appointed Guy Munnoch as special and strategic adviser to its executive board. He is a former chief executive of Zurich Southern Africa and Zurich UK, and has also held positions at Aviva and Allianz. Lloyds Bank Commercial Banking Marc Denjean has been appointed managing director, head of [...]
Silicon Roundabout guru Tim Luke back to Barclays’ investment bank July 1, 2014 Top technology analyst Tim Luke is heading back to Barclays this month, the bank announced last night, after three years as an adviser to Prime Minister David Cameron. Luke has been re-hired by the bank as managing director and vice-president of technology, media and telecomms (TMT) in New York. He worked at Lehman Brothers and [...]
Argentina faces default as it refuses to pay its bonds June 30, 2014 Argentina is teetering on the brink of being locked out of international debt markets, after refusing to pay almost $1.5bn in bond repayments last night, putting it in technical default. The country has been engaged in a lengthy legal battle with a group of investors who refused to accept a reduced payment following Argentina’s default [...]
Barclays’ Antony Jenkins under fire as share price plunges 6.52 per cent June 26, 2014 Barclays shares dived yesterday as shareholders panicked that the lender could face another huge legal bill over claims it lied to investors using its dark pool trading facilities. It is the latest in a series of scandals hitting the bank, and these claims are particularly damaging as the alleged wrongdoing occurred on the [...]
Euro banks recover from crash at last as investors show confidence June 25, 2014 FINANCIAL markets have stopped demanding a premium to insure European banks’ debts against the risk of default, the latest indicator that the sector is recovering from the crisis. Figures published by data firm Markit yesterday showed banks’ debts were insured at the same price as any other large firm’s on the continent. The credit default swaps [...]