Anglo Irish Bank flogs off art collection September 2, 2013 THE LIQUIDATION of failed former Anglo Irish Bank kicks off today – with the sale of its contemporary Irish art collection. The auction, at Dublin’s 125-year old auctioneer Adam’s, will raise money to pay back taxpayers who helped prop up the bank. The sale represents the first step in the liquidation of the bank, which [...]
LSE gunning for first tech IPO on new platform September 2, 2013 AS LONDON gears up for the first floats on the new High Growth Segment, experts in fast-growing firms have said that a handful of extra analysts and investors could enable the platform to rival the Nasdaq for technology listings. A growing number of tech companies are being courted by the HGS, which was launched by [...]
City Moves for 30 August 2013 | Who’s switching jobs August 29, 2013 Alvarez & Marsal The professional services firm has announced the appointment of Keith Williamson as head of its global forensic and dispute team in Hong Kong and China. Williamson has over 18 years’ forensic and investigative accounting experience, and specialises in investigations into fraud, corruption and regulatory issues. He joined Alvarez & Marsal in 2011, having previously [...]
Business split over future of High Speed 2 August 27, 2013 THE BRITISH Chambers of Commerce (BCC) yesterday insisted its members are “completely behind” the High Speed 2 railway – despite a rival business organisation withdrawing its support for the project. John Longworth, director general of the BCC, told City A.M. that an entirely new line is still the only way to avoid a capacity crunch on [...]
Car production in Britain goes up a gear in July August 22, 2013 CAR MANUFACTURERS in Britain produced seven per cent more cars last month, and analysts are expecting output to accelerate further during the rest of the year. Almost 129,000 cars rolled off the production lines in UK factories in July, compared to 120,391 for the same month a year ago. This jump helped to take year-to-date [...]
Thomson Local bought out of administration August 22, 2013 DIRECTORY services brand Thomson Local was bought out of administration by two serial entrepreneurs yesterday. Thomson Local, which sends out 22m copies of its UK business directory and maintains several websites, appointed Grant Thornton as administrator on Wednesday, following several tough years. The Hampshire-based firm posted a net loss of £732,000 for 2011, down from [...]
BAML says interns can go home early after death August 20, 2013 INTERNS at Bank of America Merrill Lynch are to be given the option to finish their summer placements early following the death of 21-year-old student Moritz Erhardt last week. A spokesman said “we are providing full support to our interns”, who are due to complete their postings next week, while BAML conducts its own enquiries [...]
Outen quits crime squad August 18, 2013 A FORMER KPMG partner picked to head the government’s new financial crime-fighting unit has unexpectedly stepped down, just months after his position was announced with great fanfare. Jeremy Outen was appointed in April as director designate of the Economic Crime Command at the National Crime Agency (NCA), which is due to launch in October. Outen [...]
KPMG warns banks may never recover to pre-crisis profitability August 18, 2013 BRITAIN’S biggest banks may never again achieve the same level of profitability that they enjoyed before the financial crisis, consultants at KPMG warned in a major report out this morning. Although all five of the largest lenders are now making money, the rising tide of regulations and increased caution since the crisis mean they will [...]
City Moves for 19 August 2013 | Who’s switching jobs August 18, 2013 Colliers The commercial real estate services firm has hired Frankie Longhurst as a director in its residential valuation team. Longhurst joins from Chesterton Humberts. Ernst & Young Charles Berkeley has been appointed partner in the professional services firm’s lead advisory practice. Berkeley is an experienced investment banker, and has previously worked at Dresdner Kleinwort, Royal [...]