Ex KPMG exec jailed for fraud September 15, 2009 A FORMER KPMG finance director who stole over £500,000 to fund his wife’s lavish lifestyle was yesterday sentenced to four years in jail. Andrew Wetherall, 49, started to abuse the global accountancy firm’s expenses scheme in 2002 after his wife’s previous partner reduced maintenance payments. Wetherall claims he was driven to crime by fears his [...]
Fee bonanza for Treasury APS advisers September 14, 2009 INVESTMENT banking and legal advisers have picked up £26.5m for their work advising the government on its Asset Protection Scheme (APS), according to data released by the Treasury under the Freedom of Information Act. Bankers from investment banks Citigroup, Credit Suisse and asset manager BlackRock have been working with the Treasury’s Financial Stability Unit in [...]
Top-flight clubs approve tougher financial rules September 14, 2009 CLUBS could be banned from making transfers if the Premier League judges them to be in danger of falling into administration, under sweeping financial changes announced yesterday. The new rules, which were agreed by top-flight chairmen this week and are already in effect, require clubs to submit annual audited accounts and future financial plans. If [...]
TOP THINK-TANK: RECESSION OVER September 8, 2009 BRITAIN’S economy has finally started to grow again, according to data published yesterday by the National Institute of Economic and Social Research (NIESR), one of the UK’s most respected forecasters. The NIESR figures showed that GDP rose by an estimated 0.2 per cent in the three months to August, the first time it has risen [...]
Lehman fee gives boost to PwC revenue September 6, 2009 THE worldwide accountancy giant PricewaterhouseCoopers saw its revenues creep up by less than half a per cent over the past year, thanks to a strong performance from its advisory business in turbulent economic conditions. Its results were boosted by £100m in revenues from the administration of Lehman Brothers’ European arm, after the bank failed last [...]
Why holding its nerve has paid off for Britain’s top accountancy firm September 6, 2009 LOOKING out of the window of his Embankment office, Ian Powell points at the sky above the London Eye. “It’s a bit cloudy,” he says. “But there’s sun on the horizon.” The same could be said of the outlook for PricewaterhouseCoopers, the largest of the “big four” professional services firms, which Powell has chaired since [...]
City academy can boost prospects of those most in need September 6, 2009 THE City Academy Hackney, sponsored by the City Corporation and KPMG, opened its doors to 220 pupils last week. The opening took place just two days after a City report presented a scenario that suggested a further 35,000 financial services jobs could be lost by the end of 2009. This begs the question of what [...]
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 [...]