WHAT THE OTHER PAPERS SAY THIS MORNING December 17, 2009 FINANCIAL TIMES STRICKEN SCOTTISH AIRLINE’S £30M IN QUESTION Administrators of Globespan, the collapsed Scottish airline that has left thousands of passengers stranded abroad, were investigating last night why £30m of its funds were being held by E-Clear, the company that handles its credit card transactions. Bruce Cartwright, of PwC, said he understood that about half [...]
Goldman to fight bonus fury in court December 15, 2009 INVESTMENT bank Goldman Sachs is being sued for billions of dollars in compensation after an institutional shareholder accused it of blindly “looting” the firm’s coffers by paying out rich rewards to its employees. The lawsuit, which has been filed with the New York Supreme Court by the Security Police and Fire Professionals of America Retirement [...]
Rosenblatt firm to raise 50m on Aim December 2, 2009 LITIGATION funding firm Alvaro is planning to raise £50m by listing on the Alternative Investment Market this month in a move that could transform the way expensive cases are funded in the City. Alvaro will be the first contingent litigation funding company with a UK focus to float when it lists on 16 December. [...]
CITY MOVES WHO’S SWITCHING JOBS November 26, 2009 PZ CussonsThe personal care firm has appointed Richard Harvey, the former chief executive of insurance giant Aviva, as its new chairman-elect. Harvey became group chief executive of Norwich Union in 1998 and took up his role at Aviva after the merger of Norwich Union with CGU, initiating the re-branding of the group under the Aviva [...]
CITY MOVES WHO’S SWITCHING JOBS November 9, 2009 SVG Investment ManagersAdam Steiner has been promoted to chief executive of the investment management firm from his previous position as head of research. Steiner replaces Tony Dalwood, who formerly co-founded the firm’s public equities team with him in 2002 and has now been appointed as chief executive of SVG Advisers and chairman of the SVG [...]
Why insider trading is hard to prove November 3, 2009 LAST month, the FBI smashed an alleged $20m insider trading scheme centring on the New York hedge fund Galleon, when they raided its offices and arrested billionaire financier Raj Rajaratnam and five accused accomplices. In the wake of criticism of the Financial Services Authority (FSA) in this country over its percveived toothlessness, the regulator is [...]
CITY MOVES WHO’S SWITCHING JOBS November 2, 2009 Close Brothers Corporate FinanceThe independent corporate finance advisory firm has appointed Will Thompson to head up its support services sector team. Thompson joined the firm in March this year to lead the European healthcare services team, having previously been at Morgan Stanley. He has also worked at Lazard and Barings. He has advised on numerous [...]
CITY MOVES WHO’S SWITCHING JOBS October 19, 2009 Charles Stanley SecuritiesThe stockbroker has appointed Nick Redfern as head of institutional sales, responsible for small and mid-cap distribution. Redfern started his career at Smith New Court before moving to Dresdner Kleinwort, where he spent six years as a managing director responsible for pan-European emerging company sales. He also worked at Arbuthnot and Oriel Securities, [...]
Why next year will be critical for London’s army of M&A dealmakers October 18, 2009 WHEN Tim Jones, the London managing partner of global law giant Freshfields Bruckhaus Deringer, walks into a room, one is immediately struck by the fact that he still looks every inch the Wales B rugby prop forward he used be. However, as he settles down in one of his firm’s sixth-floor, oak-panelled meeting room, he [...]
Linklaters’ Mr Tough Guy on why the next two months are key for the City September 28, 2009 THE legal profession might be going through one of its biggest slumps in a decade – but you would not know that looking at Linklaters’ senior partner David Cheyne. A small, dapper man, he is relaxed and all smiles as he sits in a tastefully furnished ground floor meeting room at the firm’s Silk Street [...]