LUKE JOHNSON ENDORSES LAUNCH FOR THE CITY’S BEST-CONNECTED November 28, 2011 ARE YOU fed up with receiving endless invitations to “connect” with people you have never met on digitally promiscuous social networking sites? Then Ndoorse, the new network for high-quality professionals founded by ex-Deloitte strategy consultant Jeremy Weil and JC Rathbone director Kristian Rathbone is perhaps for you. The only problem is that the City-meets-entrepreneurs network, [...]
Cash hope for British clients of MF Global November 27, 2011 CLIENTS of the British arm of collapsed US broker MF Global today move one step closer to getting back some of their money as the administrator publishes a timetable for dealing with claims. KPMG, the special administrator, said clients could submit claims from 8 December until 30 March next year. Joint administrator Richard Heis said: [...]
JP Morgan to up LME stake November 22, 2011 JP MORGAN Chase is set to become a major player in the looming takeover battle for the London Metal Exchange after it snapped up the stake owned by failed brokerage MF Global. Last night the US investment bank was on the brink of paying £25m for MF Global’s 4.7 per cent stake from UK administrator [...]
CITY MOVES | WHO’S SWITCHING JOBS November 22, 2011 Coutts Coutts, the wealth division of Royal Bank of Scotland Group, has appointed Amir Sadr as head of the UAE market and private office in the Middle East, based in Dubai. In his new role, Sadr will develop Coutts’ ultra high net worth proposition in the Middle East, reporting to Alex Classen, chief executive of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 21, 2011 FINANCIAL TIMES REVIEW LOOKS TO TACKLE THE COST OF WORKPLACE ILLNESS Action to curb the financial and social costs of long term illness and make it easier for employers to get staff back to work was recommended yesterday, in a government-commissioned review of sickness absence which also urged ministers to review the generosity of public-sector [...]
CITY MOVES | WHO’S SWITCHING JOBS November 21, 2011 HSBC Private Bank Bernard Rennell has been appointed as chief executive for North Asia, subject to regulatory approvals. Rennell, who will be based in the Hong Hong office, will be responsible for all private banking activity for HSBC Private Bank in north Asia, including Hong Kong, China, Taiwan, Japan and the Philippines. A former securities [...]
MF Global row drags in banks November 20, 2011 TWO American pension funds have launched legal action against seven banks, claiming they concealed problems over MF Global’s $6.3bn (£3.99bn) exposure to European sovereign debt. Royal Bank of Scotland, Goldman Sachs and JP Morgan Chase, as well as former MF Global boss Jon Corzine, are among those named in the suit. The registration statements and [...]
CITY MOVES | WHO’S SWITCHING JOBS November 20, 2011 Kingfisher The home improvement retailer has appointed Mark Seligman, the former European chairman and chairman of UK investment banking at Credit Suisse, as a senior independent director, effective from 1 January 2012. Seligman will step down from his role as a senior adviser at Credit Suisse at the end of the year. He is also [...]
EU probe into auditors set to be delayed November 17, 2011 MICHEL Barnier, the European commissioner, is widely expected to postpone the publication of draft legislation designed to clamp down on the market dominance of the “big four” accountancy firms next week. Barnier was planning to propose controversial changes to auditing rules to prevent potential conflicts of interest and boost competition. But the draft regulations are [...]
CITY MOVES | WHO’S SWITCHING JOBS November 16, 2011 Akin Gump Vlad Sourkov has joined Akin Gump Strauss Hauer & Feld as a partner and head of the firm’s Russian real estate practice. He joins the law firm from CMS Russia, where he was head of the firm’s real estate practice. Other members of his team are expected to join Akin Gump in Moscow [...]