CITY MOVES | WHO’S SWITCHING JOBS March 4, 2012 Grosvenor Group Michael McLintock has been appointed as a non-executive director of the privately-owned international property group, effective immediately. Chief executive of M&G since 1997, five years after joining the investment firm, McLintock oversaw the sale of M&G to Prudential in 1999 and joined the latter’s board the following year. Already a trustee of the [...]
London firms call on new Mayor to invest in the city February 29, 2012 LONDON First, a business group whose members represent over a quarter of the capital’s GDP, have set out their demands for the mayoral election. The organisation, which includes such firms as KPMG, HSBC and Deloitte, have told the mayoral candidates of their “common sense” demands to improve infrastructure and keep the city open for business. [...]
Last three tussle for top KPMG job February 29, 2012 CORPORATE financier Simon Collins has emerged as one of the three short-listed candidates to become chairman elect at KPMG, the auditing and consulting group. Collins, who is the firm’s global head of transactions and restructuring, joined KPMG from the investment bank Warburg. He is said to be outgoing, part of one of the better performing [...]
KPMG axes bonuses for trainees February 23, 2012 BIG Four accountancy giant KPMG has axed the £1,000 bonus it usually pays the majority of its second-year audit trainees, City A.M. has learned, in a move that will save the firm around £400,000. In a sign of significant challenges at the firm’s all-important audit division, KPMG emailed the trainees earlier this week to inform [...]
KPMG trainees furious after audit arm axes £1,000 bonus February 23, 2012 TRAINEES at KPMG were “furious” when they learned the Big Four accountancy giant would not be paying them the £1,000 bonus it usually gives to its highest performers. Adrian Stone, chief operating officer of the audit practice, broke the bad news to trainees via email at 4.15pm on Wednesday afternoon. The subject header read “First [...]
CITY MOVES | WHO’S SWITCHING JOBS February 23, 2012 Deloitte Mike Sobers has been appointed as a partner to Deloitte’s enterprise risk service practice, a 1,000-strong team of professionals in the UK dedicated to helping businesses solve complex risk and control issues. Sobers joins Deloitte from Aviva, where he was the audit director with global responsibility for technology and project audit. During this time, [...]
Peacocks sold to Edinburgh Woollen Mill February 22, 2012 EDINBURGH Woollen Mill has rescued the distressed fashion chain Peacocks out of administration, saving 6,000 jobs, though thousands of staff are still to be made redundant. Administrator KPMG said the deal, which was settled at the weekend, will save 388 shops but more than 244 stores have ceased trading with immediate effect, leading to 3,100 [...]
Benefits for all with a bring your own device policy February 22, 2012 AS THE proliferation of smartphones and consumer mobile devices increases at an exponential rate, they are rapidly changing the way that companies do business. Apple are reportedly on target to sell 8m iPads this quarter and have already sold 183m iPhones – when the iPhone 4S was launched, 1m were sold. INCREASING DEMANDS As certain [...]
CITY MOVES | WHO’S SWITCHING JOBS February 20, 2012 Royal Bank of Scotland RBS has appointed Stuart Dean as head of healthcare in the corporate and institutional banking (CIB) team. Dean has worked at RBS for more than 11 years in the bank’s structured finance division in the south of England and London. Before joining RBS, he spent two years at the John Lewis [...]
Ex-Olympus boss in plea for answers February 16, 2012 THE BRITISH former president of Olympus has demanded answers from auditors and Japanese regulators after the arrest of seven bankers and executives linked to the disgraced camera giant. Michael Woodford, who was fired after exposing the $1.7bn (£1.08bn) accounting scandal, hailed the arrests as a moment of “vindication” and told City A.M. that more questions [...]