Ex-FDIC chair calls for stricter rules September 26, 2012 US banks should have the amount they can borrow against their equity halved, according to Sheila Bair, the former chairman of the Federal Deposit Insurance Corporation (FDIC). Bair’s memoir of the financial crisis, “Bulls by the Horns”, said banks should have a borrowing ratio of eight per cent, rather than the current four per cent, [...]
Treat your career as a professional journey September 12, 2012 AS GRADUATE entrants prepare for their first weeks in the City, some might wonder whether they’ve signed up for a job or a profession. We assume that law and medicine are professions – life-long career choices with strict knowledge requirements, and professional bodies sitting in judgement over the actions of their members. Wrongly, we don’t [...]
City Moves | Who’s switching Jobs September 11, 2012 Arbuthnot Latham The private bank has appointed Liz Bottomley to the role of head of private banking. She most recently worked for Coutts, where she was senior manager and client partner in its international private banking division. Bottomley has over 25 years’ experience in the industry, and takes up her position with immediate effect. Old [...]
City Moves | Who’s switching Jobs September 10, 2012 Norton Rose Liam O’Connell has been appointed a partner within the law firm’s litigation and dispute resolution practice. He joins from CMS Cameron McKenna, where he was a partner and head of its commercial regulatory and disputes group. O’Connell specialises in insurance policy coverage analysis, and also has business experience in contingency markets and cyber [...]
City Moves | Who’s switching Jobs September 6, 2012 BNP Paribas Real Estate Mike Chadburn has been appointed senior director of international investment at the real estate division of BNP Paribas. He was previously the UK partner to Azimuth Global Partners, where he sourced and acquired UK assets for Malaysian and Korean investors. Chadburn has also previously worked as director of Central London acquisitions [...]
City Moves | Who’s switching Jobs September 4, 2012 DAC Beachcroft Anthony Menzies has been appointed as a partner in the law firm’s London-based global insurance team. He joins from Taylor Wessing, where he was a partner in its insurance and reinsurance group. Menzies is a specialist in marine, energy and engineering law, and has also previously held roles at Clyde & Co and [...]
City Moves | Who’s switching Jobs September 3, 2012 AXA Real Estate Dietrich Heidtmann has been appointed global head of investor relations and capital markets at the real estate fund. He joins from Grosvenor, where he was responsible for capital raising and investor relations. Heidtmann has also held roles at Morgan Stanley International. Coface Frederic Bourgeois has been appointed managing director of the credit [...]
Best of the Brokers September 3, 2012 ADMIRAL Credit Suisse has cut the insurance firm’s target price to 1250p from 1300p and downgraded its recommendation to “neutral” from “outperform”. The note cited weak car growth. MORRISON Nomura’s rating of the supermarket giant has been slashed to “neutral” from “buy” while the target price is down to 300p from 350p. A refocused Tesco [...]
What the other papers say this morning September 2, 2012 FINANCIAL TIMES CIC sells bulk of its BlackRock stake China Investment Corp has sold most of its stake in BlackRock, the world’s largest asset manager, as part of a wider strategy by the sovereign wealth to cut its holdings in global financial institutions. CIC bought just under 3 per cent of BlackRock’s shares, worth about [...]
Steady hands will be navigating Barclays through murky waters August 30, 2012 THE appointment of Antony Jenkins as the new boss of Barclays is a clear indication that the Barclays of the future will be very different from that of the past. He may be an insider – a Barclays man – but Jenkins is a retail banker, having made his name at Barclaycard and in branch [...]