Alibaba: Bigger isn’t always better for IPOs – CNBC Comment September 8, 2014 GET OUT your superlatives. The Alibaba IPO is set to be the biggest in history – with an expected $21bn (£12.9bn) offering. The numbers are staggering. The Chinese e-commerce giant could be valued at $163bn, not too far off Facebook’s $200bn valuation. Its profit margins are above 40 per cent, and Alibaba accounts for 80 [...]
City firms pay higher wages as labour market hots up September 7, 2014 City firms are on an employment drive as the economic recovery takes hold, according to recruiters Morgan McKinley. Growing demand for staff means finance businesses are paying higher salaries to attract the best workers. Vacancies were 18 per cent higher in August compared to the same month last year and salaries for new jobs grew [...]
R&R Ice Cream chief James Lambert talks dessert and bull semen September 7, 2014 It’s often said that entrepreneurs should stick to what they know. Bill Gates knew software, hence Microsoft; Arianna Huffington knew media, hence The Huffington Post. But it’s not a piece of advice that James Lambert, the now-retired founder and former chief executive of Yorkshire-based R&R Ice Cream, paid any attention to. Before starting the business [...]
Returns made by private equity stagnate below pre-crisis levels September 2, 2014 SLUGGISH stock markets and lower levels of strategic improvement have driven private equity returns to their lowest levels since the financial crisis, a study shows. Exits by buyout groups – which involve the sale of companies owned by private equity outfits – netted selling firms two times their original equity investment between 2010 and 2013, [...]
City Moves for 03 September 2014 | Who’s switching jobs September 2, 2014 Alvarez & Marsal Senthil Alagar has been appointed managing director in the professional services firm’s restructuring and turnaround team in London. He joins from Barclays, where he headed its UK & Ireland business support restructuring team. Alagar has also held roles at Bank of Scotland, PwC and EY. M&G Real Estate Steven Hollands has been [...]
Why the future is collaborative for banks and fintech August 27, 2014 THE INTRODUCTION of paper money revolutionised the way we exchanged goods and services. Now, the booming UK financial technology (fintech) sector is fast changing the way we bank, invest and raise money. Thanks to a large and sophisticated consumer market, a high concentration of global financial institutions, and the availability of capital, fintech has found [...]
City Moves for 27 August 2014 | Who’s switching jobs August 26, 2014 EY The professional services firm has announced the appointment of Randy Miller as global automotive and transportation sector leader, effective immediately. He has more then 25 years’ consulting and client service experience with EY and, formerly, with Andersen Business Consulting, where he served as global automotive sector leader. Heptagon Capital The asset management firm has [...]
City Moves for 13 August 2014 | Who’s switching jobs August 12, 2014 EY The professional services firm has made several appointments. Jay Nibbe has been made global vice chair for tax. He joined the firm in 1985 and was mostly recently the chair of EY’s global accounts committee and deputy area managing partner for Europe, Middle East, India and Africa. Uschi Schreiber (pictured) has been appointed global [...]
Analyst Views: What should investors look for next from the Bank of England? August 8, 2014 ROBERT WOOD | BERENBERG We expect the Bank to respond to the increasingly resilient outlook by hiking rates by 25 basis points in November.If there was a split vote this month, with perhaps one of the MPC calling for a hike, that could tell us a little more about the committee’s thinking. VICTORIA CLARKE | [...]
City Moves for 07 August 2014 | Who’s switching jobs August 6, 2014 Bovill Neil Walkling has been appointed consultant in the financial services regulatory consultancy’s wealth management and banking team. He joins from EY, where he was a senior manager in its regulatory practice. Walkling has also held senior roles at Sesame and the FSA. Henderson Global Investors John Harrison has been appointed director, multi-asset at the [...]