UK consumers’ confidence at a three-year high October 20, 2014 A HEALTHY jobs market has pushed consumer confidence to a three-year high, according to figures released this morning by the accountancy firm Deloitte. The Deloitte consumer tracker shows the net balance (the percentage of people saying “yes” minus those saying “no”) of respondents whose confidence had increased over the last three months rising to minus [...]
City Moves for 20 October 2014 | Who’s switching jobs October 19, 2014 Secure Trust Bank The bank, a subsidiary of Arbuthnot Banking Group, has appointed Neil Clinton as regional sales director. He joins from Barclays, where he was head of its UK large corporate asset based lending team. Clinton has over 30 years’ experience in banking and invoice finance. Investec Wealth & Investment The wealth management firm [...]
Business boom dented by euro area troubles October 12, 2014 UK BUSINESSES lost some momentum in September, with survey data showing that most regions have been impacted by economic troubles across the Channel. A purchasing managers’ index (PMI) released by Lloyds Bank, which records business activity, scored 57.4 for the UK average, down from 59.3 in August. Anything above 50 implies growth and although this [...]
City Moves for 13 October 2014 | Who’s switching jobs October 12, 2014 BNP Paribas Investment Partners Susan Gostick has been appointed head of pension fund segment at the asset management arm of BNP Paribas. She has over 20 years’ experience in investment and pensions, and was previously head of institutional relationship management at Newton Investment Management. Gostick has also held roles at Lazard Asset Management, Merrill Lynch [...]
City Moves for 10 October 2014 | Who’s switching jobs October 9, 2014 MORE TH>N RSA’s direct financial services arm has appointed Phil Wilson-Brown as managing director. He has worked for RSA for 10 years, and joins from its Scandinavian business, where he is strategy, marketing and customer director. Michael Page Paul Sykes has been promoted to senior managing director at the recruitment company. He has worked for [...]
Mobilising the best of British: How the City can get behind the new-look armed forces October 6, 2014 The Olympics, the Queen’s Diamond Jubilee and the annual Lord Mayor’s Show have all showcased the very best of Britain and London. And at the centre of each of these events have been our armed forces. As military operations in Afghanistan draw to a close, our armed forces are changing. We are expanding the role [...]
Virgin Money confirms IPO plans and looks to raise £150m October 2, 2014 Virgin Money Holdings has confirmed its intention to float on the London Stock Exchange, as yet another “challenger” bank looks to go public. The retail bank expects to raise £150m from its initial public offering (IPO), and will use £50m of the proceeds to complete a payment owing to the UK government. Each [...]
Spie eyes float haul of €1.2bn September 29, 2014 FRENCH energy firm Spie yesterday said it aimed to raise as much as €1.2bn in its forthcoming stock market debut to value it at €2.75bn. Spie’s co-owner Clayton, Dubilier & Rice, which floated B&M Retail in London earlier this year, is hoping to sell €694m of existing stock alongside co-owner Ardian. A further €525m will [...]
Lloyds settlement latest example of the shadow regulatory state September 28, 2014 The announced settlement between the American and British authorities and Lloyds Banking Group, in which the bank will pay almost $370m to US and UK authorities, is the latest major fallout from claims that multiple international banks profited by manipulating the London Interbank Offer Rate (Libor), a key financial benchmark embedded in contracts around the [...]
Lloyd’s chairman John Nelson: We have global ideas and diversity will help September 25, 2014 With more than 325 years of history behind it, Lloyd’s of London is one of the City’s most venerable insurance fixtures – but that hasn’t prevented it from moving with the times, according to chairman John Nelson. “I’ve seen a lot more diversity here than when I started three years ago,” Nelson said, and [...]