First lady of broking buys out FinnCap May 4, 2010 ONE of the City’s hottest female rising stars has completed a £2.5m management buyout of her firm FinnCap, with the aim of growing it into the broker of choice for small cap companies in London. Chief executive Sam Smith at the weekend sealed a deal to buy back the outstanding 50 per cent of FinnCap [...]
AIM advisers continue to lose business May 3, 2010 ADVISERS have continued to lose AIM-listed clients for the second straight quarter, according to the latest report by Hemscott published today. The AIM Advisers Rankings Guide for quarter two of 2010 shows London’s financial services sectors experiencing further client shrinkage. Analysts said they were not surprised by the figures, following the turmoil the small cap [...]
UK firms hit by new global accounting rules April 29, 2010 PROPOSED changes to global pension accounting rules will make pension costs more volatile at UK firms, exacerbating the impact that pension deficits have on companies experts warned. The International Accounting Standard Board yesterday announced changes to the way pension deficits and surpluses are accounted for, which accountants KPMG forecast could wipe as much as £10bn [...]
CITY MOVES | WHO’S SWITCHING JOBS April 26, 2010 PricewaterhouseCoopers Bridget Jackson has joined the accountancy firm as director of corporate sustainability, leading the firm’s internal environmental, community and corporate sustainability strategy. Jackson has over twenty years of experience in international business and strategy consulting. She joins from management consulting firm Accenture. She will report directly to managing partner Richard Collier-Keywood. Resolution The investment [...]
Lib Dems release Nick Clegg’s bank details in bid to prove innocence April 22, 2010 THE Liberal Democrats last night released records of Nick Clegg’s private bank statements in a bid to refute allegations that he acted improperly by accepting party donations in his private account. The accounts show that the Liberal Democrat leader received payments from three private donors directly into his personal account. The payments were made between [...]
KPMG to up graduate intake as accountant sees market demand April 22, 2010 BIG four accounting giant KPMG has upped its UK graduate intake this year after the firm said the numbers reflected growing signs that market demand for accountancy services were on the rise. The accountant has increased the number of graduates it plans to recruit for the September intake to 820, marking a significant increase on [...]
CITY MOVES | WHO’S SWITCHING JOBS April 22, 2010 Deloitte Timothy Mahapatra has taken up a new role at the business advisory firm as managing director of the corporate finance practice. A member of the firm’s executive, Mahapatra has over 15 years of corporate finance experience and was previously leader of Deloitte’s mergers and acquisitions programme. He succeeds Aidan Birkett, who was appointed as [...]
Clegg in row over donations April 21, 2010 NICK Clegg last night denied any wrongdoing after it was revealed that party donations were paid directly into his personal bank account. Three donors paid up to £250 a month into the Liberal Democrat leader’s bank account in 2006, when he was the party’s home affairs spokesman. The arrangement came to an end after he [...]
Airlines feel heat of Icelandic volcano April 19, 2010 AIRLINES grounded by the eruption of an Icelandic volcano are set for further losses if airspace is closed again, with the airline industry yesterday reporting daily losses of more than £5m. “If the shutdown of the airspace in the UK and large parts of Europe [returns], it will almost certainly lead to some carriers, especially [...]
CITY MOVES | WHO’S SWITCHING JOBS April 19, 2010 Bluefin Corporate Consulting The consulting firm, part of Bluefin Advisory Services, which is owned by Axa UK, has appointed Sean Glasgow as its new head of investments. Glasgow previously worked in a variety of roles both in the UK and internationally. He has held senior positions at soft drinks giant Coca-Cola and in the investment [...]