CITY MOVES WHO’S SWITCHING JOBS September 3, 2009 Pinsent MasonsThe law firm has appointed Raymond Beven as a London-based partner, responsible for leading the transport team within the firm’s projects and international construction group. Beven will be tasked with working across a broad transport portfolio including airports, rail and ports and projects in the Middle East, Caspian region and Europe. He joins from [...]
Big spending days of top flight are finished September 1, 2009 SPENDING by top-flight clubs shrank by 10 per cent this year – and experts say a more “risk-averse” climate means Premier League outlays will fall again in 2010. Teams in England’s top tier spent an estimated total of £450m before the summer transfer window closed yesterday evening, a reduction of around £50m on 2008’s record [...]
JPM Caz still dominating adviser arena August 31, 2009 JP MORGAN Cazenove comfortably retained its broking and financial advisory dominance over the third quarter of the year, according to the latest statistics from financial data group Hemscott. JP Morgan Cazenove gained eight broking clients, increasing its total tally to 236, of which 40 were FTSE 100 firms. Numis Securities and Brewin Dolphin rank second [...]
Top earners face tax squeeze August 20, 2009 High earners in the UK will face one of the toughest fiscal regimes in Europe when new income tax hikes come into effect next year, according to accountancy giant KPMG. Currently, the UK has a top tax rate of 40 per cent on earnings above £43,435, making it the twelfth most onerous country for high [...]
KPMG warns Tories over plans for FSA August 19, 2009 BIG FOUR accountancy firm KPMG yesterday hit out at Tory shadow chancellor George Osborne’s plans to reform financial regulation, suggesting his pledge to scrap the Financial Services Authority (FSA) could be disastrous. KPMG’s head of regulatory services Marcus Sephton said the change could lead to the City treading water for 15 months as the transition [...]
Retail banking is struggling to get off the canvas August 19, 2009 AS Britain’s retail banking sector fractures and polarises, it is beginning to resemble a boxing match: two heavyweight contenders are preparing to slug it out in the main event with the prize nothing less than commercial success. In the red corner are the grizzled veterans – the traditional banking groups HSBC, RBS, Lloyds and Barclays. [...]
CITY MOVES WHO’S SWITCHING JOBS August 13, 2009 Reed ElsevierThe publishing group has appointed Ben van der Veer, the former chairman of accountancy firm KPMG in the Netherlands, as a non-executive director, effective from 3 September. Van der Veer was chairman at KPMG Netherlands between 1999 and 2008 and also sat on the firm’s international board and management committee. He is a member [...]
Burden of pensions for ex-staff mounts August 12, 2009 BLUE CHIP companies are now being forced to spend more covering shortfalls on the pensions of former staff than they do on the future pensions of existing employees, according to research released yesterday. Within five years, payments made to top up the pensions of previous employees will outstrip those for current staff by a ratio [...]
HMRC gets access to offshore funds August 12, 2009 HM REVENUE and Customs (HMRC) will be able to access the offshore accounts of UK citizens with accounts at more than 300 banks, after it secured “production orders” forcing lenders to disclose the information. HMRC continued its campaign against tax evasion with the orders, which will also see the 308 affected banks required to pass [...]
FSA in probe of JPMorgan August 11, 2009 INVESTMENT bank JPMorgan Chase has instructed KPMG to conduct a review into its procedures for looking after client money, after a systems error sparked an inquiry into its methods by the City watchdog. JPMorgan confirmed yesterday it had recently discovered an operational error dating back to 2002, which involved failing to keep around £8.5bn of [...]