City Moves for 07 January 2015 | Who’s switching jobs January 6, 2015 Dexion Capital The alternatives investment bank has appointed Magnus Spence as head of asset management. He has over 20 years’ experience, and has held roles at Mercury Asset Management/Merrill Lynch Investment Managers. Spence co-founded Dalton Strategic Partnership in 2002. Falcon Group The specialist financier has appointed Nick Gowlland as chief financial officer. He has previously [...]
Who made the FCA’s 2014 naughty list: Which institutions received the biggest fines last year? January 6, 2015 2014 was a busy year for the UK’s financial regulator, the Financial Conduct Authority (FCA), which brought in a record £1,471,431,800 in fines – more than twice the previous record year. However, £1.1 billion of the FCA’s naughty list was made up by just five banks, and these record fines have sparked fears of conduct [...]
The year at City A.M.: Our most popular stories of 2014 December 31, 2014 With everything that has gone on in the last 12 months you might be forgiven the odd memory lapse. Here's our round-up of the stories that got you clicking in 2014. January It's hard to believe it was less than a year ago that French President Hollande was caught having a moped-based affair with actress [...]
From Quindell and Gotham City to Uber and the LDTA – five of the biggest business battles to watch out for in 2015 December 22, 2014 Rival camps have banded together, the lines are drawn, battle armour is on and adrenaline is running high. All that's left for spectators to do is grab some popcorn and watch from the ringside. From rival estate agents, to a business targeted by a Batman styled US fund and an influx of tiny new banks [...]
Searchlight Capital Partners spots £80m deal for British billboard company Ocean Outdoor December 22, 2014 British private equity firm Searchlight Capital Partners is set to complete an £80m deal to buy London-based billboard company Ocean Outdoor, it emerged yesterday. Ocean operates outdoor advertising sites in cities across the UK, including the BFI Imax cinema at Waterloo and the Westfield shopping centre in White City, west London. Searchlight is in [...]
Stephen Catlin will take senior role at new company if XL Group deal succeeds December 17, 2014 If the deal with XL Group goes through, Catlin boss Stephen Catlin will take on the role of executive deputy chairman at the new combined firm. Catlin built his namesake business up from the two-person Lloyd’s syndicate he established in 1984, into a London-listed business with 55 offices in 21 different countries. He was born [...]
Catlin share price soars 10 per cent on £2.5bn takeover approach from XL Group December 17, 2014 Shares in insurer Catlin whizzed up 10 per cent today after the group said it is in talks with XL Group over a possible takeover which would value it at $3.9bn (£2.5bn). XL Group would pay 410 pence per share in cash and 0.130 share for each Catlin shares, the Lloyds of London insurer said [...]
Stressing out: Britain’s lenders will be ticked off by the Bank of England as new tests bite December 14, 2014 If you happen to stroll down to Threadneedle Street in the early hours of tomorrow morning and find a hive of activity do not be alarmed – it’s just the start of the Bank of England’s inaugural stress tests results. While most of London slumbers at 5am, prudential regulation authority (PRA) officials will be locked [...]
City Moves for 15 December 2014 | Who’s switching jobs December 14, 2014 Lloyds Theresa Newell has been promoted to managing director and co-head of leveraged credit sales at Lloyds Bank Commercial Bank. Newell joined Lloyds Bank Commercial Banking last year and has over 15 years’ experience in credit products. Previously, she was with RBS and JP Morgan Chase. Canaccord Genuity Wealth Management Andrew Clotworthy has joined the [...]
Which London street is the most expensive to live on? Belgravia beats Kensington and Chelsea December 12, 2014 Grosvenor Crescent, near Buckingham Palace, has been named London's most expensive street to live on, according to new research by Lloyds Bank. Home buyers who want to live in one of the prestigious crescent's white Georgian townhouses will, on average, have to shell out a whopping £16.9m. It's located in high-end Belgravia, one of the wealthiest [...]