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 [...]
Fraud total down but computer crime is the new battleground July 8, 2012 FRAUD dropped massively in the first half of this year but worryingly is mainly perpetrated by management, says research released today by KPMG. Fraud figures fell from £1.1bn during the six months to June 2011 to just £374m in the same period this year – the lowest since the second half of 2006. Though this [...]
Sir Stelios calls for Rake’s head over the fiasco July 2, 2012 EASYJET founder Sir Stelios Haji-Ioannou yesterday weighed in to the furore surrounding the Barclays Libor-fixing scandal, calling for the head of Sir Mike Rake. Rake, the Barclays senior independent director who was yesterday promoted to deputy chairman, also serves as chairman of EasyJet. “As Mike Rake is chairman of the relevant audit sub-committee and a [...]
WHO’S SWITCHING JOBS June 28, 2012 BAE Systems Tom Arseneault has been appointed executive vice president, product sectors, and chief technology officer of the defence giant. He most recently served as president of BAE’s electronic systems sector, and joined the company in 2010. Additionally, Larry Prior, current executive vice president, service sectors, will become chief operating officer. Mercer Aled Jones has [...]
Asset managers face challenge of Solvency II June 25, 2012 ASSET managers face a culture shock following the implementation of the European Union’s Solvency II directive, according to research released yesterday by KPMG. The heavily trailed reforms will require insurers to hold increased levels of capital by 2014, as well as implementing an improved level of financial disclosure. But a report commissioned by the European [...]
WHO’S SWITCHING JOBS June 25, 2012 Edison Investment Research The investment research firm has made three appointments to its London team. Tom Carless joins as finance and operations director from 7city, a specialist financial training firm. He spent five years as finance director at Ovum. Additionally, Will Forbes and Zsolt Mester join Edison’s team of analysts, from Arc Asset Management and [...]
Tills ring again in May after discounting and summer sun June 21, 2012 RETAIL sales showed a sharp uptick in May compared to a year earlier, Office for National Statistics data released yesterday showed. The overall 3.3 per cent year on year rise was drive by increases in expenditure of 3.9 per cent on household goods, 0.7 per cent on textiles and most importantly 4.1 per cent on [...]
ADVISERS June 19, 2012 DAVID PATERSON HERBERT SMITH David Paterson, a partner and head of corporate at law firm Herbert Smith, was the lead legal adviser acting for Hammerson on the sale of its London portfolio. Paterson, who joined the firm in 1986, is longstanding adviser to Hammerson, acting on its £584m rights issue and on its conversion to [...]
WHO’S SWITCHING JOBS June 19, 2012 Houlihan Lokey The investment bank has appointed Kristian Terling as a managing director and head of Nordic coverage. He was most recently managing director and co-head of Nordic investment banking at Credit Suisse in London. Terling has also served as sector head in the corporate finance group at Handelsbanken Capital Markets, and started his career [...]
Eurozone threatens London’s optimism June 18, 2012 BUSINESSES in the capital are significantly more bullish about economic prospects than they were six months ago, a leading survey reveals today – although the Eurozone crisis is threatening to dampen the mood. Over four in 10 respondents from London firms reported a more optimistic outlook for the economy over the next six months, the [...]