CITY MOVES | WHO’S SWITCHING JOBS July 31, 2012 Arle Capital Partners Hilary Ellis has been appointed human resources director at the private equity firm. She will also sit on the board of Alma Consulting, one of Arle’s portfolio companies. Ellis was most recently at Alstom, where she served as director of integration and change management. PensionsFirst Capital Hugo James has been appointed chief [...]
KPMG: Finance shake-up could mean end of universal banking July 30, 2012 THE ENTIRE concept of universal banking could be thrown out as a result of public pressure for transparency and clarity in the sector, KPMG warns today. Investors must also learn to cope with the new environment, the auditor said in a report. It argued banks are unlikely to regain the level of profits seen before [...]
Grant Thornton and Cenkos top small-cap table July 30, 2012 CITY broker FinnCap has moved to within a whisker of catching Cenkos Securities to top a table of brokers with the most number of Aim-listed clients, a study released today reveals. FinnCap, chaired by private equity stalwart Jon Moulton, boosted its roster of small and medium sized clients from 74 to 79 over the quarter [...]
ANALYST VIEWS | WHAT’S YOUR TAKE ON THE GDP FIGURES? July 25, 2012 ANDREW GOODWIN ITEM CLUB It would be easy to get carried away … but the reality is that the Diamond Jubilee bank holidays have wreaked havoc with the data. The ONS has effectively said that output fell by almost three per cent … between May and June because of the movement of the late-May bank [...]
Rothschild blames deal drought for lower income from advisory July 23, 2012 ROTHSCHILD, the centuries old banking dynasty, has posted a nine per cent drop in its advisory and banking business due to a slowdown in global M&A activity last year. Results from the family firm’s holding company, Paris Orleans, show revenues for its Global Financial Advisory and Corporate Banking arms dropped to €768.1m (£600.6m) for the [...]
MF Global UK asset return begins July 18, 2012 MF Global UK will return roughly £54m of client assets after its distribution plan was accepted by the High Court yesterday. The return of client assets will begin on 1 August, but it’s worth noting that there are still over £1bn of alleged outstanding claims, which this approval goes only a tiny way towards. Still, Richard [...]
CITY MOVES | WHO’S SWITCHING JOBS July 16, 2012 Pioneer Investments The investment management group has appointed Neal Jenkins as head of sales, Middle East, Central Asia and Africa. He joins from Janus Capital, where he was head of Middle East and Africa business. Jenkins has over 20 years’ financial markets experience, and previously worked at Merrill Lynch. KPMG Tom Brown has been appointed [...]
CITY MOVES | WHO’S SWITCHING JOBS July 11, 2012 iCon Infrastructure The infrastructure-focused investment firm has appointed Daniel Hales as its director of finance. He most recently worked as group finance controller and director of compliance at RCP Capital Group, the investment firm. Hales has also previously held roles at Goldman Sachs and KPMG. Kleinwort Benson Malcolm Roberts has been appointed managing director of [...]
Rain washes away June’s retail gains July 9, 2012 THE DIAMOND Jubilee and warm spell at the start of June gave retailers a great start to the month, according to industry data out today – but that rapidly disappeared as bad weather took over. Total retail sales were up 3.5 per cent compared with June 2011, while like-for-like sales – those covering the same [...]
Bankers and graduates hit with crashing wages and less hiring July 8, 2012 WORKERS are taking a hammering as appointments collapse and wages stagnate, according to recruitment industry research published today. Permanent placements slumped in June – the first fall in six months and the quickest drop for three years, the Recruitment and Employment Confederation (REC) and KPMG report on jobs showed. The index crashed from 51 in [...]