Former Investec banker joins the crowd(funders) with CrowdShed September 22, 2014 Crowdfunding is the trend that just keeps giving and now one of the City’s own is striking out of banking and launching his own crowdfunding platform called CrowdShed. The person in question is ex-Investec, ex-Liberum investment manager Henry Freeman (pictured) and having handed in his notice at Investec almost exactly a year ago – his [...]
City Moves for 23 September 2014 | Who’s switching jobs September 22, 2014 Baker & McKenzie Gillian Coyle has been appointed London HR director at the law firm. She joined in 2010 as the head of the HR business partner team, and previously spent 12 years at Deloitte. Coyle will also serve on Baker & McKenzie’s London Management Committee. Deutsche Asset & Wealth Management Astrid Manroth has been appointed [...]
WANdisco share price falls as investment costs lead to higher losses at online tech firm September 18, 2014 WANdisco, the Sheffield-based firm that specialises in big data products for businesses, saw its shares tumble 5.1 per cent yesterday after reporting its losses had more than doubled during the first half of the year. While revenues rose 43 per cent to $5m (£3m), losses increased from $7.5m to $18.5m as the firm invested $4.2m [...]
Best of the Brokers for 19 September 2014 September 18, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ROYAL MAIL Investec has kept at “hold”, but cut the target price to 430p from 490p. The broker thinks the stock is at a crossroads, with Royal Mail hit on several fronts in recent months, but Investec still expects the transformation programme to [...]
Analyst Views: What do you make of the delays to DMGT’s risk management software? September 17, 2014 IAN WHITTAKER | LIBERUM Management now realise they will be under intense pressure to deliver and they have taken the concrete step of impairing the assets and formulating a new timetable. Thus, for investors looking for the longer term, we would recommend buying at these levels. STEVE LIECHTI | INVESTEC The outlook was reconfirmed with [...]
Smiths takes a tumble after 11pc profit fall September 17, 2014 MULTINATIONAL engineering firm Smiths Group saw its shares fall the most of all companies on the FTSE 100 yesterday, as it revealed its pre-tax profits had plummeted 11 per cent in the last year to £445m. Smiths Group shares fell six per cent yesterday to finish on 1,268p, as the engineering firm said the strength [...]
City Moves for 17 September 2014 | Who’s switching jobs September 16, 2014 Killik & Co The stockbroker has appointed Jon Simmons as business development manager. He joins from Schroders, where he was sales manager in its financial institutions and strategic accounts team. Simmons has also held roles at Cazenove Capital Management and Invesco Perpetual. M&G Real Estate Lucy Williams has been appointed director, institutional business for UK [...]
UBS and Goldman Sachs left red-faced by AngloGold Ashanti $2.1bn float flop September 15, 2014 Proposals for a new London-listed mining spin-off worth £3bn hit the dust yesterday, as shareholders at one of the world’s top gold miners revolted over a $2.1bn (£1.3bn) rights issue key to the massive restructuring. South Africa-based AngloGold Ashanti was forced into a U-turn just five days after it announced it would spin off [...]
British software firm Micro Focus acquires US rival The Attachmate Group September 15, 2014 FTSE 250-listed software company Micro Focus International is to buy privately-owned US rival The Attachmate Group in an all-share deal valuing the combined firms at $2.35bn (£1.45bn). Micro Focus said yesterday that following the reverse takeover, its shareholders would own about 60 per cent of the equity in the new group which would be [...]
Best of the Brokers for 15 September 2014 September 14, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com JD WETHERSPOON Investec has kept its “buy” rating, but upped the target price to 885p from 870p. The broker says full year results were just ahead of expectations, and that cash generation remains strong, while the current year has started well with a [...]