Meet captain Penn, boss of the Baltic Exchange March 10, 2014 With the City sailing through choppy waters, the Baltic Exchange’s boss tells Julian Harris how the shipping industry can lead the way LIBOR-FIDDLING, insider trading, insurance mis-selling, bailout-grabbing… it hasn’t been the best of times for the City’s reputation, of late. Meanwhile, throughout the world, packs of regulators and politicians continue to circle around the [...]
Meet captain Penn, boss of the Baltic Exchange March 10, 2014 With the City sailing through choppy waters, the Baltic Exchange’s boss tells Julian Harris how the shipping industry can lead the way LIBOR-FIDDLING, insider trading, insurance mis-selling, bailout-grabbing… it hasn’t been the best of times for the City’s reputation, of late. Meanwhile, throughout the world, packs of regulators and politicians continue to circle around the [...]
City Moves for 10 March 2014 | Who’s switching jobs March 10, 2014 Shoosmiths The law firm has appointed Amanda Howlett as a partner in its EU and competition team. She specialises in contentious and non-contentious competition law. Howlett was previously head of competition at Pannone. HedgeGuard The asset management technology company has hired Richard Hutton to its family office business. He has over 10 years’ experience, and [...]
The Power of Three: How big business could join government to support small companies March 10, 2014 IF I received a pound for every time a chief executive of a large firm said to me “we’d like to be the champions of small business”, I’d be comfortably off. However, over the past year, I’ve seen an increasing number of businesses not only voicing this statement, but acting on it. This is a [...]
RBS dishes out up to £18.25m of shares to top management team March 7, 2014 Another bout of bonuses-related news – this time going to directors at RBS. It’s handed out as much as £18.25m of long-term share awards to the 11 members of its executive committee. The 81 per cent state-owned lender, which reported a £8.2bn loss in 2013, risks political and public vitriol, as the spotlight remains on [...]
Restaurant review: Hispania, Bank March 6, 2014 RESTAURANT HISPANIA72-74 Lombard Street, EC3V 9AYTel: 0207 621 0338 FOOD Four StarsVALUE Four StarsATMOSPHERE Four Stars Cost for two with wine: £110 COMBINING the words “Spanish” and “bank” in recent years has been enough to leave a bad taste in the mouth. Yet despite the somewhat portentous association, a group of brave Asturians have taken [...]
Bank of America Merrill Lynch bolsters UK team March 5, 2014 Bank of America Merrill Lynch (BoAML), which has been playing a leading role in some of the biggest transactions in the London market so far this year, has appointed a new head of UK equity capital markets (ECM). The bank, which is advising on the Pets at Home flotation, the RSA rights issue and worked [...]
Brit insurance targets £1.1bn April flotation March 4, 2014 SPECIALIST insurer Brit’s private equity owners yesterday announced plans to float 25 per cent of the business on the London stock exchange this April. The group, which currently operates in the Lloyd’s market and specialises in casualty, property and energy insurance, will be selling shares held by existing shareholders – including Apollo and CVC – [...]
What the other papers say this morning – 04 March 2014 March 3, 2014 FINANCIAL TIMES Nine private equity heads share $2.5bn The nine founders of the four big listed US private equity companies took home more than $2.5bn between them last year, with Apollo Global Management’s Leon Black alone receiving $546m. The dividend income, investment profits and other compensation shared by the founders of Apollo, Blackstone, Carlyle and [...]
Behind the deal March 3, 2014 INVESTEC | DAVID FLIN 1 He started his broking career with Dresdner Kleinwort in 2000, working in the mid-market with a host of listed companies. He joined Investec in 2009. 2 Flin, who has a bachelor of science degree in economics from University College London, is an avid Tottenham Hotspur fan. When Spurs aren’t playing, [...]