Zurich loses 51,000 clients’ data October 22, 2009 Swiss insurer Zurich Financial Services said it had called in auditors KPMG to investigate after details of 51,000 UK customers were lost at a data storage centre in South Africa. There is no sign so far the information has been misused by fraudsters, Zurich’s UK subsidiary said. KPMG will investigate the incident and will also [...]
The numbers man on why London needs to give the right message October 21, 2009 John Griffith-Jones definitely comes across as a man on a mission. Whether he’s talking about hooking accountancy giants KPMG up with as many of its European partners as possible, helping the banks through one of the most catastrophic crises in their history, preserving the status of London as a financial centre, or teaching young children [...]
City Airport owner snaps up Gatwick October 21, 2009 THE UK’s second largest airport, Gatwick, is facing a massive shake-up after BAA yesterday sold it for £1.5bn to City Airport owner Global Infrastructure Partners (GIP). The new owner said that it wants to challenge rival Heathrow by overhauling services and could add new destinations. Michael McGhee, the GIP partner leading the acquisition, said the [...]
Half of all PEdeals distressed October 19, 2009 HALF of all private equity deals are now being completed under distressed conditions, according to accountants KPMG. But the firm said this is not a surprisingly high level “given the hype around distressed balance sheets”. Michael McDonagh, a partner at the firm, said there were only 17 deals above £10m over the last quarter and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 19, 2009 FINANCIAL TIMES FURTHER VAT RISES LIKELY AS EUROPE SETS THE PACEBritain will be levying the fifth-lowest value-added tax rate in Europe after it reverts to 17.5 per cent in January, according to a survey that is likely to reinforce expectations of further rises after the general election. A survey by KPMG, the professional services group, [...]
CITY MOVES WHO’S SWITCHING JOBS October 13, 2009 RothschildThe bank has hired Penny Lovell as client director in its private banking and trust business. Lovell joins from Fleming Family & Partners, where she spent eight years in a variety of senior client relationship roles, most recently as group head of business development. Prior to that, she spent five years at Coutts & Co, [...]
Treasury pays 6.5m to KPMG for advice on APS October 12, 2009 ACCOUNTANCY firm KPMG has been paid more than any other adviser for its work on the Treasury’s Asset Protection Scheme (APS) for bailed out banks, according to a freedom of information request. Seven firms have been paid a combined £26.5m for their advice on the APS, the Treasury revealed, of which KPMG alone picked up [...]
CITY MOVES WHO’S SWITCHING JOBS October 7, 2009 NomuraThe Japanese banking group has hired Peter Westaway, a Bank of England veteran, as its new chief economist for Europe. Westaway previously spent 13 years at the Bank in senior roles, covering macro economic forecasting, policy and financial market analysis. He also spent time working at the UK Treasury and the National Institute of Economic [...]
CITY MOVES WHO’S SWITCHING JOBS October 5, 2009 KPMGThe accountancy firm has appointed Rachel Campbell as global head of people, performance and culture and a member of its global executive team. Campbell is currently head of people for the firm’s European business and has led its award-winning “Employer of Choice” strategy in the UK. Prior to that, she was an audit partner specialising [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 1, 2009 FINANCIAL TIMESFORD SELLS AUSTRALIAN LOAN BOOK TO MACQUARIEFord, the US carmaker that underwent a debt-for-equity swap this year to bolster its balance sheet, has quit Australia’s retail car finance market after selling a A$1bn (US$874m) motor loan portfolio to Macquarie Group. The Australian investment bank is expanding its presence in the sector as well as [...]