City Moves for 30 January 2015 | Who’s switching jobs January 29, 2015 Standard Chartered Aaron Russell-Davison has been appointed head of debt capital markets at the bank. He joined Standard Chartered in 2009, and has worked as head of Asian bond syndicate, global head, bond syndicate, and most recently as head of capital markets, ASEAN. UBS Global Asset Management Rachel Hill has been appointed UK business development [...]
Alpari UK clients may have to wait six weeks to access funds January 26, 2015 Customers of forex and spreadbetting site Alpari UK could have to wait four to six weeks before they can re-access their funds, one of the bidders to buy parts of the collapsed firms warned yesterday. Administrators from KPMG are pooling client funds, and will pay clients the money from their accounts when it is certain [...]
Exclusive: Fifty suitors bid for remains of FX firm Alpari UK January 26, 2015 More than 50 companies are bidding to buy all or part of failed forex and spreadbetting firm Alpari UK, City A.M. understands – with international units of the wider Alpari group among those who are interested. Alpari’s Japanese and Russian arms are thought to be most involved. Firms including ETX Capital, Oanda, Iron FX and [...]
City Moves for 26 January 2015 | Who’s switching jobs January 26, 2015 Spencer Ogden The energy recruitment specialist has announced two appointments. Brad Lewington (pictured) has been promoted to director of Europe, the Middle East, and Africa, alongside his existing position as head of Asia Pacific. Kristen Zeilerbauer becomes managing director in London. Renaissance Capital The investment bank has announced the appointment of Seki Mutukwa to its [...]
Balfour is warning on profit but KPMG offers constructive advice January 22, 2015 CONSTRUCTION giant Balfour Beatty warned yesterday that it expected profits for 2014 to be £70m lower due to problems with contracts. Accountants KPMG have been reviewing the firm’s construction business and found that it had been bidding with “optimistic assumptions”. KPMG added it had not been managing contracts effectively. Balfour Beatty has also shelved a planned [...]
Alpari administration: “More than 40 buyers” are sniffing around Alpari January 22, 2015 Administrators for spreadbetter Alpari UK, have received more than 40 expressions of interest for the firm, it is understood. The company called in KPMG as its administrator on Monday, after it made huge losses following a decision by the Swiss central bank to remove its currency ceiling, which caused the Swiss franc to jump 30 per [...]
Balfour Beatty issues £70m warning on UK construction profits and cancels £200m share buyback January 22, 2015 Balfour Beatty has warned profits at its UK construction arm will take a £70m hit after a review of its business by KPMG found it had made “optimistic assumptions” about the cost and risk of contracts. The widespread review of the construction group’s business was initiated in September after it made its fifth profit warning [...]
Tax competition is good for Europe: Don’t let Jean-Claude Juncker muddy the waters January 21, 2015 At the end of last week, the European Commission disclosed a preliminary finding that Amazon’s tax arrangements in Luxembourg could have constituted “state aid”. While Amazon has said that it had received no special treatment, this is not good news for the Duchy’s former Prime Minister Jean-Claude Juncker, now president of the Commission. Yet the [...]
Alpari shareholder Andrey Dashin:”I tried to wind it up a year ago” January 21, 2015 Another chapter in the increasingly dramatic administration of spreadbetter Alpari, after its largest shareholder went on the record to explain that he tried to wind it up a year ago because he was worried about its lack of financing. Andrey Dashin told industry site Forex Magnates that its current situation is "a natural consequence of [...]
Alpari in administration: 170 jobs at risk at spreadbetter January 19, 2015 Spreadbetting platform Alpari called in administrators from KPMG yesterday after it made huge losses in the wake of the Swiss franc’s shock appreciation last week. Its Bishopsgate office was in lockdown as bosses scrambled to find a buyer to rescue the business. But despite interest from firms thought to include IG Group and Australian firm [...]