FUND MANAGEMENT NEWS September 14, 2010 GROSVENOR FUND’S £110M LLOYDS DEAL Grosvenor Fund Management UK announced earlier this week the completion of a new £110m debt facility with Lloyds TSB Corporate Markets for its £400m Grosvenor London Office Fund. The three-year deal replaces the existing facility with Lloyds Banking Group, which expires this month. The fund’s loan-to-value ratio is low at [...]
British MBAs look to broaden their horizons overseas September 8, 2010 MANY British people choosing to take an MBA stay in this country, or head to one of the big American schools. There is no doubt that they are prestigious, but in a world that is increasingly tilting to the East, might there be better ways to spend your money? At most British business schools around [...]
INSURANCE COMPANY OF THE YEAR September 7, 2010 THE management of risk has always been at the heart of the City’s business, and in these turbulent times it has never been more important. The five firms on our shortlist work across the whole sector, from shipping and the oil industry to motor insurance. All of them have innovated and continue to flourish. Don’t miss [...]
RETAIL BANK OF THE YEAR September 5, 2010 LIFE is still hard for banks, especially the high-street variety. One of our list is government-owned, others are engaged in a vicious fight to entice customers with tasty offers, and one is a brave and innovative newcomer. All are fascinating – and well-known – companies in this vital and fast-changing sector. Don’t miss the City event [...]
LAWYER OF THE YEAR | The Shortlist September 5, 2010 OUR list of lawyers reflects the breadth of legal work in the City, from the head of a firm that has recently merged, to one who advised the government on the banking bailout, the chief of the financial regulator and a pace-setting female head of a flourishing boutique firm. Hard to compare? Yes, but they show [...]
Travelex boss to buy The Office in £43.3m deal September 5, 2010 LLOYD DORFMAN, founder of currency exchange Travelex, is to acquire serviced office company The Office Group for £43.3m. Dorfman is acquiring the company from Bridges Ventures, the private equity firm launched by Sir Ronald Cohen and dedicated to urban regeneration. Dorfman will take over a portfolio of six sites in London and one in Bristol, [...]
Earthquake, rig explosion and windstorm curb Chaucer profits August 26, 2010 THE Chilean earthquake, Deepwater Horizon oil rig disaster and European windstorm Xynthia conspired to cut interim profits at Chaucer Holdings by 59 per cent to £7m. Shares in the Lloyd’s of London insurer fell 2.2 per cent to 45p yesterday as it said “an unprecedented level of catastrophes” and a slump in investment performance meant [...]
TOP FOREX STAR TAKES TIME OUT FROM RBS August 24, 2010 A BLOW for the Royal Bank of Scotland – and, by extension, to the rest of us – as one of the most celebrated foreign exchange traders in the City hops out of the bank’s revolving door. Mark Barnes stepped up to the role of global head of forex trading at RBS last year, and [...]
Lloyd’s insurers in Stanford case August 23, 2010 Lloyd’s of London insurers will today try to save themselves $100m (£64m) in payouts to alleged fraudster Allen Stanford and his three associates by proving they are guilty of money laundering. Establishing guilt would mean the insurance companies will be able to begin clawing back the Stanford Financial?Group executives’ legal bills. Stanford, Laura Pendergest-Holt, Gilbert [...]
Insurers post stormy first half results August 23, 2010 SIGNIFICANT catastrophes during the first half of the financial year, including the Chilean earthquake and the BP Gulf of Mexico oil spill, have sent profits on a downward spiral at insurers Hiscox and Amlin. Bermuda-based Hiscox saw first half year pre-tax profits slide to £97.2m from £141.4m after the insurer took a £100m hit from [...]