JPM Cazenove tie-up created a force to be reckoned with November 15, 2009 WHEN US investment bank JP Morgan struck a deal to buy out half of Cazenove back in November 2004, many in the City felt it would be the beginning of the end, with the Queen’s stockbroker losing its reputation as a consummately professional independent dealmaker. In fact, quite the opposite has proved the case; despite [...]
Professional services are a bedrock of City success November 11, 2009 AN insurer talking to accountants may not sound like much of a crowd-drawer in the traditional sense. But when Lord Levene, chairman of Lloyd’s of London, addressed a breakfast briefing at Chartered Accountants Hall yesterday, his comments were enough to spark real interest among the audience. Levene’s salient point was that we cannot allow one [...]
LEST WE FORGET November 11, 2009 STAFF at Lloyd’s of London gathered yesterday to pay their respects to fallen soldiers on Armistice day. Lloyd’s chairman Lord Levene and the Lord Mayor of London laid wreaths. The Lutine Bell in Lloyd’s underwriting room, where the service was held, was rung to mark the two-minutes silence.
CITY MOVES WHO’S SWITCHING JOBS November 10, 2009 Syndicate Asset ManagementThe fund management group has hired Mark Cheshire, 51, as chief executive of its newly-formed Ashcourt Rowan wealth management businesses, which are due to formally launch in January. Cheshire was previously director of UK private wealth management at Lloyds TSB and, prior to that, chief executive and managing director at Lloyds TSB Private [...]
CITY MOVES WHO’S SWITCHING JOBS November 9, 2009 SVG Investment ManagersAdam Steiner has been promoted to chief executive of the investment management firm from his previous position as head of research. Steiner replaces Tony Dalwood, who formerly co-founded the firm’s public equities team with him in 2002 and has now been appointed as chief executive of SVG Advisers and chairman of the SVG [...]
Lloyd’s names push up price of insurance November 9, 2009 LLOYD’S of London insurers Hiscox and Beazley are both taking advantage of softer competition in insurance across the globe to push up the price of policies, particularly in reinsurance. Both companies yesterday posted significant increases in premium income over the first nine months of 2009. Bermuda-based Hiscox unveiled a hefty 32 per cent lift in [...]
EX-BANKER TRIES HIS LUCK WITH SEX TOYS November 9, 2009 OF ALL the career paths followed by former City types who have lost jobs in the recession, this one really does take the biscuit. Matt Thomas, a former manager in corporate finance at Seymour Pierce, decided to make the most of the opportunity when he was made redundant last November by setting up a joint [...]
WHAT THE OTHER PAPER SAY THIS MORNING November 8, 2009 THE SUNDAYSThe Sunday TelegraphBAE HIRES PINOCHET LAWYER FOR SFO FIGHTBAE Systems has instructed General Pinochet’s former QC to handle its defence if the Serious Fraud Office (SFO) is successful in persuading the Attorney General to proceed with a fraud prosecution against the arms manufacturer. GOVERNMENT PLANS FAST-TRACK NUCLEAR EXPANSIONThe government is set to hand an [...]
The City lawyer who argues that banking has become even riskier November 4, 2009 T o David Morley, the phrase “it is better to travel than to arrive” must sound pretty strange, an expression invented only for those unfortunate souls who have not learnt to move at speed. For Morley, who joined top law firm Allen & Overy in 1980 and has led it as senior partner since last [...]
BALANCING ACT November 4, 2009 UK FINANCIAL Investments (UKFI) boss John Kingman yesterday warned the agency was “walking a tightrope” as it attempted to limit bonus payments while avoiding an exodus of talent at Britain’s bailed out banks. The public was “understandably angry” at fat cat bonus payments, said Kingman, the departing chief executive of the body managing the government’s [...]