Chemring parachutes in the man who turned around Avon Rubber as its new finance chief December 13, 2016 Military manufacturer Chemring has secured the services of a permanent finance chief, snatching Andrew Lewis from small-cap engineer Avon Rubber. Lewis will replace interim finance director Andrew Davies, who was babysitting the vacancy left following Steve Bowers' departure this summer to take over the finance reigns at Australian law firm Herbert Smith Freehills. Read more: Fall in [...]
Ranked: City law firms with the most staff fleeing to Ireland after the Brexit vote December 6, 2016 It's been revealed there was a huge jump in the number of English solicitors registering to work in Ireland after the Brexit vote – the figure jumped more than 10 times between 2015 and 2016. Yes, according to figures released last night by the Law Society of Ireland, the number of English solicitors registering to [...]
Shaanxi Ligeance Mineral Resources digs out £326m for Gardner Aerospace November 16, 2016 Chinese aerospace and mining firm Shaanxi Ligeance Mineral Resources (SLMR) announced today it is to buy aerospace parts manufacturer Gardner Aerospace. Derby-headquartered Gardner makes parts which are used by Airbus and is currently one of the high-flying businesses held by City veteran Jon Moulton's Better Capital. SLMR, along with its subsidiary Chengdu Aerospace Superalloy Technology (CAST), plans to pick [...]
EY reaches settlement over long-running $7.3bn Nortel Networks bankruptcy saga October 13, 2016 A settlement has been reached in the long-running global insolvency of Canadian telecoms giant Nortel Networks' European-based companies. Three groups of creditors, including 33,000 UK pensioners, Canadian pensioners and US bondholders, had been unable to agree who gets what from the $7.3bn (£6bn) to be distributed since the company’s collapse seven years ago. The battle has been over [...]
This is Me: Let’s talk about mental health to end the stigma in the City October 10, 2016 Today may be World Mental Health Day, but if you’re an employer, or indeed an employee, mental health should always be top of your agenda. Stress and poor mental health in the workplace are commonplace. Last week, a survey by Business in the Community and YouGov, supported by Mind, revealed that 62 per cent of [...]
Merger Monday: Big deal developments spark hopes of M&A pick-up this autumn August 22, 2016 Global deals valued at nearly $65bn (£49.5bn) cleared a series of major hurdles yesterday, amid hopes of a renewed drive in worldwide mergers and acquisitions next month. US pharmaceutical company Pfizer agreed a $14bn deal for San Francisco-based Medivation, which specialises in cancer treatments. It came as a welcome boost to the pharma giant whose [...]
SAB Miller’s £71bn sale is facing growing shareholder pressure as Aberdeen Asset Management reportedly joins the rebellion July 24, 2016 The long-awaited takeover of SAB Miller has reportedly been left on a knife edge by growing shareholder concerns on sterling's depreciation, even as analysis shows the total number of deals since last month's Brexit vote holding up. Shareholders have raised fears that the cash value Anheuser-Busch InBev's £71bn purchase has plummeted alongside the strength of sterling since last [...]
Three years in a row for progress at Herbert Smith Freehills, with both revenues and profits up July 5, 2016 The joint chief execs of law firm Herbert Smith Freehills today praised the firm's third year in a row of progress, as it revealed a boost to revenues and profits in its provisional results. The figures The firm reported revenues for the year to April of £870m, up seven per cent compared with the prior year's £815m. Profits [...]
City Moves for 16 June 2016 | Who’s switching jobs June 16, 2016 Industry Barbican-based global brand consultancy Industry has appointed Nada El Barshoumi as lead brand consultant for the Middle East and North Africa Region. Prior to joining Industry, Nada was a partner at Bahrain-based PR and design agency Obai & Hill, where she was employed for more than three years. She has worked with a wide [...]
City Moves for 9 May 2016 | Who’s switching jobs May 9, 2016 Parker Fitzgerald Parker Fitzgerald (PFG), the specialist management consultancy, has appointed Patrick Gormley (pictured) to its executive board. Patrick will lead the firm’s global digital practice, which focuses on transforming the risk management and regulatory compliance functions of financial institutions through digital innovation, robotics, artificial intelligence and new technologies such as blockchain. Patrick joins PFG [...]