City Moves for 27 October 2016 | Who’s switching jobs October 27, 2016 JLL Richard Howling is set to become new chief operating officer following Mark Stupples’ decision to try something different after over three decades at JLL UK. After 32 years within the business, and having successfully managed the merger and integration of King Sturge with JLL UK, Mark will be leaving at the end of 2016 [...]
The Big Bang 30 years on: How the City of London has changed since 1986 October 26, 2016 Nothing stands still in the City. The world's financial services powerhouse has seen it all, from boom and bust to bouncebacks and Brexit. Its skyline has changed almost beyond recognition over the last three decades, as have the markets it serves. As we mark the 30th anniversary of the so-called Big Bang, we cannot help [...]
Oleg Tinkov reveals an interest in the UK, what he thinks about Apple and has some advice for fintech start-ups October 26, 2016 The billionaire businessman behind one Russia’s largest banks has revealed his interest in setting up in the UK. Although listed on the London Stock Exchange, Tinkoff Bank is Russian-focussed and the second largest credit card issuer in the country. It was set up in 2006 by its flamboyant chairman, Oleg Tinkov, and is Russia’s sole [...]
Thirty years since Big Bang: The deregulation of the London Stock Exchange democratised investing October 26, 2016 Thirty years have passed since the City of London was radically recast by a package of Thatcherite reforms, known as Big Bang. These saw the privatisation of the London Stock Exchange (LSE), allowed outside companies – not just individuals – to become members, and ushered in the automatic quotation of share prices. The product of [...]
One new runway at Heathrow isn’t enough for our ultra dynamic aviation industry October 25, 2016 Few industries have been more dynamic and disruptive than aviation. No one foresaw the rapid shift from propeller planes to jets, the overnight rise of transatlantic jet travel or the 5 per cent cumulative annual passenger growth between 1970 and 2010. Other trends also came as a surprise, including the explosion in airport retail and [...]
Hammerson and Standard Life partner for £1.4bn overhaul of Brent Cross October 24, 2016 Hammerson and Standard Life Investments have embarked on a public consultation on a £1.4bn redevelopment of Brent Cross shopping centre. Brent Cross opened 40 years ago and Hammerson plan to revamp it with the addition of 200 new shops, 40 restaurants, a hotel, a cinema and around 6,700 homes. The shopping centre is set to [...]
Boom time in the City as Brexit gives a boost to professional advisers October 24, 2016 The UK's vote for Brexit has delivered a big boost for City advisers as firms scramble to find out how they should respond to a period of unprecedented uncertainty. Insolvency firm Begbies Traynor found the number of professional services firms in "significant financial distress" had dropped by 10 per cent since the EU referendum, as new [...]
Arsenal hopeful of rivalling Manchester United and Chelsea’s record-breaking commercial deals, says chief executive Ivan Gazidis October 24, 2016 Arsenal chief executive Ivan Gazidis insists he is optimistic that the club can rival the record-breaking deals achieved by some Premier League teams when they renew their main commercial agreements. Leading English clubs have cashed in on a boom in kit deals and shirt sponsorship markets since Arsenal signed their existing contracts with Puma and [...]
Dogs still rule at Metro Bank as it eyes profitability October 23, 2016 Think of us as a retailer, Metro Bank founder, Vernon Hill tells Billy Bambrough Metro Bank founder and chairman Vernon Hill seems to be having as much fun at the opening of the bank’s 43rd branch as he did at the first one six years ago. The first new lender to appear on the British [...]
Fenwick family takes out £5m dividend despite warning on new cost pressures October 23, 2016 The Fenwick family has taken a £4.8m from their department store chain while warning about the pressure government is placing on the retail sector. According to accounts for the year to the end of January 2016, the company's sales rose by 1.2 per cent in the past year, reaching £431.7m. Pre-tax profits were up by a quarter [...]