New bidder enters race for AssetCo May 31, 2011 A THIRD bidder is circling troubled London fire engine supplier AssetCo in addition to the two already named, City A.M. has learned. Manchester-based turnaround and investment house Consilia Partners is currently meeting AssetCo’s shareholders as it prepares to make a bid. Consilia enters the bidding alongside Bahraini fund Arcapita and Italian investor Investindustrial, both of [...]
HSBC Germany in talks with WestLB May 31, 2011 HSBC’S German private banking arm is in talks to buy a large part of WestLB, the nationalised German lender. Andreas Schmitz, chairman of HSBC Trinkaus & Burkhardt Rothschild, has said that the bank is “in talks” to buy a chunk of the German bank. He did not confirm which unit HSBC is looking at, but [...]
Ronson project makes first deal May 31, 2011 LONDON property tycoon Gerald Ronson’s new investment vehicle completed its maiden purchase yesterday. Ronson Capital Partners (RCP), “a club of like-minded partners” drawn mostly from the UK and the Middle East, has spent £63m on International House on Chiltern Street, Marylebone. RCP aims to demolish the 12-storey tower once the existing tenants’ lease deals expire [...]
Kensington and Chelsea has most £1m plus house buyers in London May 30, 2011 THE borough of Kensington and Chelsea saw the highest number of £1m plus property sales in London last year, according to figures revealed today by specialist private bank Investec. A total of 4,530 properties sold for over £1m in 2010 with 912 of them sold in Kensington and Chelsea alone. City of Westminster saw 790 [...]
Derby specialist Fallon refuses Native Khan ride May 30, 2011 THREE-TIMES Investec Epsom Derby-winning jockey Kieren Fallon has opted not to ride Native Khan in Saturday’s big race. Trainer Ed Dunlop said he was disappointed, with the six-time champion tipped to partner Recital for Aidan O’Brien’s Ballydoyle team. “The enticement of the great Ballydoyle battleship steered him towards their horse,” said Dunlop. Derby favourite Carlton [...]
CITY MOVES | WHO’S SWITCHING JOBS May 26, 2011 JP Morgan Asset Management Professor Paul Sweeting has been appointed as European head of the Strategic Investment Advisory Group for JP Morgan Asset Management. Based in London, Sweeting will advise the firm’s European institutional clients on asset allocation, risk management and investment strategies. Sweeting previously held positions at Munich Reinsurance Company and Fidelity Investments International. [...]
Epsom’s French fancy May 26, 2011 WITH just over a week to go until the Investec Derby, racing’s good, bad and ugly gathered on Epsom Downs yesterday morning for the racecourse’s annual ‘Breakfast with the Stars’. The event offers up the opportunity for any horse entered in the world’s most famous race to exercise on the track and sample its undulations, [...]
Ferdoos to give in-form Varian another big win May 26, 2011 IT’S very much the calm before the storm this weekend with the Investec Derby Festival only seven days away. However, Haydock hosts a decent card tomorrow and let’s hope we can follow up after last week’s headline tip Sole Power (12/1) won the Temple Stakes well. Roger Varian has made an excellent start to his [...]
Carlton House ready for Epsom May 25, 2011 HORSE RACING: Investec Derby favourite Carlton House thrilled connections after his final serious piece of work ahead of the big race. “He worked this morning and it was very satisfactory. He seems in good shape,” said trainer Sir Michael Stoute.
CITY MOVES | WHO’S SWITCHING JOBS May 25, 2011 Cable & Wireless The telecoms company has appointed Ian Gibson as chief financial officer and executive director, with effect from 21 July. Gibson joined the group in 1995 and has held a number of senior management positions, most recently deputy chief financial officer. In 2009 he was appointed as acting chief financial officer and played [...]