Osborne eyes change of strategy to boost liquidity June 13, 2012 GEORGE Osborne is expected to use tonight’s Mansion House speech to reveal a new strategy aimed at boosting liquidity in the banking system. The chancellor’s attempt to ease the credit logjam comes as both companies and households continue to struggle to access finance. The move follows Bank of England deputy governor Paul Tucker’s acknowledgement on [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 13, 2012 FINANCIAL TIMES Banks bow to EU bonus limit Bankers’ bonuses across the European Union are set to be limited by law, with many bank lobbyists admitting in private that they have lost the fight against a European Parliament initiative to limit the size of bonuses relative to salary. Some banks still hope to increase the [...]
CITY MOVES | WHO’S SWITCHING JOBS June 13, 2012 Kleinwort Benson Clive Wright has been appointed head of private wealth management offshore at the private bank. He will report to Stephen Rothwell, head of private wealth management. Wright joined in January 2012 from Deutsche Bank, where he was head of its private wealth management division. Credit Agricole Xavier Musca has been appointed executive vice [...]
CITY MOVES | WHO’S SWITCHING JOBS June 12, 2012 Bargate Murray Alfred Merckx has been appointed as a partner and head of the City law firm’s newly formed aviation department. He joins from Dubai-based JetEx Flight Support, where he was general counsel. Merckx has extensive experience in business aviation and has served as a partner at Sinclair Roche and Thomas Cooper. Ixaris The electronic [...]
Banks and miners lead FTSE lower June 8, 2012 Miners and banks led the FTSE down in early trading as investors shunned riskier assets and ran for cover as global economic growth stutters. The fall tracked losses on Wall Street yesterday and Asia overnight despite an initial boost after China cut its interest rates in an attempt to accelerate its growth. But US Federal [...]
M&S to introduce in-store banking service June 8, 2012 Retailer Marks & Spencer said it plans to launch an in-store banking service next month, backed by Europe’s biggest bank HSBC. The group said 50 M&S Bank branches will open in M&S stores across the UK over the next two years, with the first branch scheduled to open in July at its flagship Marble Arch [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 7, 2012 FINANCIAL TIMES Barristers face up to bankruptcy Growing numbers of criminal barristers are facing possible bankruptcy at a time the government is making cuts to legal aid funding. Figures confirm that in the last three years, 130 barristers have given notification that they are facing bankruptcy proceedings, directors disqualification proceedings or have entered into CVAs [...]
Former BlackRock City offices set for major redevelopment June 6, 2012 PLANS to redevelop BlackRock’s City headquarters into a new 319,000 square feet office block were recommended for approval yesterday, as the latest office block in the Square Mile takes a step closer to construction. The island site at 33 King William Street on the north side of London Bridge is owned by Topland, the property [...]
CITY MOVES | WHO’S SWITCHING JOBS June 6, 2012 Winston & Strawn Justin McClelland has joined the law firm from Milband as a partner in its global commercial litigation practice. He started his legal career at Slaughter & May, and previously served in Army Legal Services, reaching the rank of lieutenant colonel. He was appointed a Member of the British Empire (MBE) in 1998. PIMCO [...]
Singaporean feng shui firm to list on Aim June 5, 2012 A SINGAPORE-BASED consultancy firm that advises blue-chip companies using the ancient Chinese philosophy of feng shui is to float on London’s junior stock market to raise £1.5m. New Trend Lifestyle Group, which counts Citibank and Standard Chartered among its clients, announced yesterday its intention to float on Aim at the end of June to fund [...]