EY’s Japanese business suspended and fined 2.1bn yen over Toshiba reporting December 22, 2015 EY's Japanese arm has been handed a 2.1bn yen (£11.7m) over failings related to Toshiba, it was revealed today. In a statement, Japan's Financial Services Agency (FSA) said it was suspending Ernst & Young ShinNihon from accepting new engagements from 1 January until 1 March 2016, and handed it a 2.1bn yen fine. "Partners of the firm [...]
City Moves for 22 December 2015 | Who’s switching jobs December 21, 2015 PETS AT HOME Graeme Jenkins has been appointed as chief financial officer at Pets at Home. Graeme will become an executive director and member of the board, upon his commencement date, which will be announced in due course. Ian Kellett, the current group CFO, will transition fully into the role of chief executive officer of [...]
Fintech adoption could double among digitally active consumers in the next year December 21, 2015 Consumers' love of technology is growing at such a pace that their adoption of financial technology (fintech) could double in the space of a year. According to a survey of more than 10,000 digitally active consumers from around the world released today by EY, 16 per cent have used at least two fintech services in the last six months, [...]
IPO markets set for a strong start to 2016, after Worldpay’s floatation boosts fourth quarter market activity December 17, 2015 The year has ended on a high for initial public offerings (IPO), thanks in part to Worldpay’s success recently on the London Stock Exchange, and the pipeline looks positive for 2016, according to EY research. After a record-breaking 2014, 2015 has been something of a disappointment, especially the third quarter, which EY said was subdued following [...]
London to grow quicker than other UK regions until 2018 December 10, 2015 London is still expected to be the fastest growing region in the UK over the next few years, according to a report out today from accounting giant EY. The capital is expected to rack up an average forecast Gross Value Added (GVA) of three per cent a year to 2018. This year London GVA is [...]
What are the best companies to work for in the UK? Expedia, Hays and AKQA triumph ahead of Google and Goldman Sachs December 9, 2015 Move over Google. Its treats such as slides, sleep pods and snacks have failed to win over staff, and the mighty tech company has been toppled from its perch as the best company to work for in the UK while home grown firms climbed ahead. Flying to the top spot from number 25 last year was online travel [...]
M&A activity in the UK increased 90 per cent in 2015, to highest levels since 2007 thanks to Shell’s BG deal and AB InBev’s takeover of SABMiller December 9, 2015 UK M&A activity is at its highest level since 2007, up 90 per cent from last year to $516.5bn (£344.4bn), according to EY. The number of deals increased more modestly, from 2,822 to 2,932, showing that 2015 has indeed been the year of the megadeal. UK companies are seen as a particularly attractive acquisition opportunity [...]
City Moves for 9 December 2015 | Who’s switching jobs December 8, 2015 ACTIVA CAPITAL French independent private equity company Activa Capital has appointed Mathilde Sergent, 30, as manager. Prior to joining Activa Capital, Mathilde was for five years as M&A associate at Nomura, where she worked in the consumer goods, distribution and transport and infrastructure industries. EY EY has appointed Niranjan Nathan as a partner in its [...]
Former Prudential Europe boss: There’s no way we’ll leave the EU – A Brexit means it would take 15 years to “disentangle” our deals December 8, 2015 A vote for Brexit could be a vote for 15 years of commercial red tape, as the UK struggles to untangle itself from countless agreements dependent on EU membership, according to a leading financial services figure. Speaking at an event hosted by EY today, Mark Wood, former boss of Prudential Europe, revealed that he thought [...]
City Moves for 8 December 2015 | Who’s switching jobs December 7, 2015 BAKER & MCKENZIE Global law firm Baker & McKenzie has appointed Andy Moody as a partner in London. He joins in early 2016 from Eversheds. Andy has acted on a wide range of commercial disputes, focusing on international arbitration. His experience is in the energy sector where he has advised on international upstream, downstream and [...]