Innovation Diary: There will be plenty more Wongas to come – even as the fintech sector begins to grow up February 9, 2014 FEW NEED telling about the growth of peer-to-peer lending. Whether driven away by dissatisfaction with traditional banking, or pulled by attractive returns and convenience, lenders and borrowers are increasing interested. According to Nesta, P2P business lending grew by 211 per cent between 2012 and 2013. And while P2P lenders control just 1 per cent (about [...]
London Report: FTSE pares back losses after RSA and Glaxo rally February 5, 2014 THE UK’S top top equity index snapped a five-day losing streak yesterday, lifted by rallies in insurer RSA and pharma group GlaxoSmithKline. Shares in RSA rose 4.6 per cent on expectations its new chief executive Stephen Hester, credited with salvaging RBS, would help turn around the insurer, which is struggling with a £200m pound ($330m) [...]
The 3 big changes set to shake hedge funds in 2014 January 29, 2014 A great deal of opportunity it turns out, if you listen to the world’s biggest money manager BlackRock. Despite citing some startling statistics at a briefing in London today – more on that later – its strategists think increased volatility in markets this year will open up a pandora’s box of opportunity for smart managers. [...]
Crime’s downward path: A promising trend with no room for complacency January 23, 2014 IT’S BEEN called the riddle of peacefulness. Many think crime is a growing problem: a 2013 Ipsos Mori study found that 58 per cent didn’t believe it was falling, while 51 per cent thought violent crime was getting worse. Yet Britain, in common with much of the developed world, has enjoyed nearly 20 years of [...]
Car and home insurance costs hit record low January 22, 2014 CAR AND home insurance premiums have fallen dramatically since 2012, a major survey has revealed. Research conducted by the AA shows record falls in the cost to consumers, including £100 sliced off motoring premiums in the last two years alone. But Simon Douglas, director of AA Insurance, warned that prices would not continue to fall in [...]
City Moves for 22 January 2014 | Who’s switching jobs January 21, 2014 Sidley Austin The law firm has announced the appointment of James Oussedik as counsel and senior member of its investment funds practice. Oussedik was most recently at Simmons & Simmons, where he was a managing associate. Partnership Giles Offen has joined the insurance company as chief technology officer. He was formerly at Advanced Payment Solutions, where [...]
City Moves for 16 January 2014 | Who’s switching jobs January 15, 2014 Seddons The law firm has recruited James Ward as a partner in its private client team. He was most recently at Lee Bolton Monier-Williams, where he was a partner in its private client division. HSBC Private Bank The private bank has made two senior appointments. Paul O’Donnell joins as head of UK domestic. He has over 25 [...]
City Moves for 13 January 2014 | Who’s switching jobs January 12, 2014 Smith & Williamson The accountancy and wealth management group has announced the appointment of Tina Riches as national tax partner. She was most recently at the Chartered Institute of Taxation, where she was a technical director. Royal Bank of Canada The bank has recruited Tim Houghton as head of business development in its wealth management [...]
What the other papers say this morning – 10 January 2014 January 9, 2014 FINANCIAL TIMES Taxman hardens stance on disputes The UK taxman has toughened its stance on disputes with big business in response to public pressure over alleged “sweetheart” deals, companies say. Three-quarters of such groups surveyed by Clifford Chance, a law firm, said HM Revenue & Customs had “generally become more aggressive in recent years”. Santander [...]
City Moves for 9 January 2014 | Who’s switching jobs January 8, 2014 YFM Equity Partners The private equity firm has announced the appointment of Paul Cook as chief operating officer. Cook was previously managing director of Access IS, and has also held roles at KPMG, PwC, Sonatest, American Standard and William Baird. BNP Paribas The bank has appointed Gildas Surry as senior credit analyst for European banks. Surry has [...]