Vote No to Scottish independence urges Lloyd’s of London boss John Nelson September 3, 2014 The chairman of Lloyd’s of London last night urged Scots to vote No in the independence referendum which is just two weeks away, warning a Yes vote would be a blow to the City. At the insurance market’s annual dinner, John Nelson threw his weight behind a united UK, telling guests he would be “extremely [...]
City Moves for 04 September 2014 | Who’s switching jobs September 3, 2014 Savills The real estate adviser has announced the appointment of Andrew D Thompson as a director in its London-based building and project consultancy team. He joins from his own independent practice, and has previously held roles at CBRE, Drivers Jonas, and Wilks Head & Eve. Aviva Investors David Lis has been appointed chief investment officer, [...]
Scottish independence: Lloyds’ contingency plans could see move to London if Scots vote yes September 3, 2014 Lloyds’contingency plans if Scots vote for independence could include moving its official offices from Edinburgh to London in order to avoid being classed as a Scottish bank. LATEST: Lloyds confirms move from Scotland to London and RBS to follow The banking group, which owns Lloyds Bank, Halifax and Bank of Scotland, has formed contingency plans [...]
OneSavings Bank profits rise after lender tightens purse strings August 27, 2014 OneSavings Bank, the first British lender to float on the stock market since the turn of the century, yesterday said lower costs had helped to drive a four-fold rise in half-year profits. The lender, which offers mortgages and saving accounts through its Kent Reliance brand, said underlying pre-tax profits rose to £29.7m for [...]
Amlin’s profits battered by strong pound and hail storm catastrophe losses August 18, 2014 Lloyd’s of London insurer Amlin saw its pre-tax profit fall eight per cent for the first half of 2014, with a strong pound and higher than usual catastrophe losses behind the dip. Pre-tax profit fell to £148.5m from £161.4m in the same period a year ago, the FTSE 250 company said in a statement yesterday. [...]
First day for Luke Savage at Standard Life August 18, 2014 LUKE Savage will be putting his briefcase down at a new desk today, as he begins his role as finance director at Standard Life. Savage replaces Jackie Hunt, who moved to rival Prudential over a year ago, and joins the FTSE 100 company from Lloyd’s of London where he was director of finance and operations [...]
Retailers return to stores even as footfall dips August 17, 2014 UK high streets are getting less and less empty as the economic recovery continues, even as fewer shoppers actually head for shops. The British Retail Consortium (BRC) and Springboard revealed this morning that the vacancy rate in UK town centres had dropped to just 10.1 per cent in July, half a percentage point down from [...]
Brit Insurance profits dive after IPO costs eat into earnings August 13, 2014 Brit Insurance group reported an 18 per cent slump in the first-half profits yesterday, led lower by costs related to its initial public offering (IPO) this year. The Lloyd’s of London insurer which specialises in casualty, property and energy insurance, said profits for the first half of 2014 were down to £62m, compared to £75m [...]
Legal & General’s Nigel Wilson sends slap in the face to Breedon as associates shudder – Inside Track August 13, 2014 Nigel Wilson has hardly put a foot wrong since replacing Tim Breedon, his po-faced predecessor, as chief executive of Legal & General just over two years ago. While investors are happy with the outspoken Geordie, however, his fellow insurance bosses are not – at least not after his latest bombshell dropped yesterday. Confirming [...]
Lights out for darker skies: First World War started with a crash August 3, 2014 For the City, the Great War began with a financial crisis. Even before Britain committed itself, Europe’s great powers ranging against one another spelled disaster: the collapse of the magnificent, peaceful edifice of international trade built between the empires. As told in Jerry White’s riveting account of London in the war, Zeppelin Nights, on Friday [...]