After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
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 [...]
The new machine age: Britain must not miss out on the robot revolution June 23, 2014 MORE and more people are concerned about a wave of robots stealing their jobs. But for Britain, there’s a more pressing concern: what if the robot economy doesn’t arrive here at all? For a while now, pundits have been speculating that robots, self-driving cars and clever algorithms will take many of the jobs now done [...]
ECB official claims securitised loans boost economic stability June 11, 2014 THE BUNDLES of loans that were blamed for exacerbating the financial crisis could in fact make the economy more stable, a top EU official said yesterday. Simple and transparent asset backed securities (ABS) – bundles of loans such as mortgages or business loans – can be sold on to non-bank investors who want to lend to those [...]
Tesco Bank current account finally checks in June 9, 2014 After six years of delays, glitches and excuses, and a cool £600m splashed on the project… BRITONS can today open current accounts with Tesco Bank as the retailer at last becomes a fully functioning challenger to the big banks. The long-awaited milestone comes at a tough time for Tesco, which hopes a stronger banking arm [...]
Banks and City regulator deny £1bn PPI crisis June 5, 2014 THE CITY watchdog and the banking industry do not recognise the claim that banks have underpaid payment protection insurance (PPI) mis-selling victims to the tune of £1bn, the groups said yesterday. An analysis of figures, commissioned by the BBC from an undisclosed source, had claimed banks were failing to repay the fees charged to borrowers as [...]