The fund manager who swallowed New Star and is looking for more March 28, 2010 We are at the beginning of the end of the financial crisis, according to the chief executive of Henderson Global Investors. “It will be a very slow recovery throughout 2010,” says Andrew Formica, the 38-year-old boss of the UK’s third-largest listed fund manager, which boasts assets under management of £58.1bn. The confident Australian is sat [...]
LSE trading share falls as rivals up ante March 25, 2010 DAILY trading levels on the London Stock Exchange have dipped by more than a third over the past year, as competition continues to hot up between the traditional bourse and its upstart rivals. Average daily value traded in UK equities on the LSE fell 35 per cent to £4.6bn over the 11 months to the [...]
LSE welcomes £900m flood of new floats March 24, 2010 FOUR separate companies raised a total of over £900m yesterday as they floated on the London Stock Exchange, the best day for listings in the City since May 2008. African Barrick Gold (ABG) raised £581m as it came to the market at 575p per share – the largest initial public offering on the LSE in [...]
TWO?MBA?ENTREPRENEURS March 24, 2010 OLGA NEFEDOVA Having worked as a senior drilling engineer for oilfield services giant Schlumberger for four years, and then for Mitsubishi Steel Trading, Olga Nefedova took a full-time MBA at Warwick Business School in 2008-2009. She now combines a customer services manager role at Schlumberger with running an online gallery selling Russian art, the Kohgan [...]
New venture for ex-Morgan Stanley man March 22, 2010 JONATHAN Chenevix-Trench, once investment bank Morgan Stanley’s most powerful executive in Europe, has stepped back onto the business radar by setting up an investment company focused on sub-Saharan Africa. Chenevix-Trench formerly spent 23 years at the bank, latterly as chairman of Morgan Stanley International. He left after the promotion he had been coveting – to [...]
CITY MOVES | WHO’S SWITCHING JOBS March 18, 2010 Avoca Capital Holdings The European credit investment manager has hired Clayton Perry, formerly principal and managing director at Broadchalk Advisors, as its new chief operating officer. Prior to establishing Broadchalk, Perry was head of global collateralised loan obligation (CLO) business at Credit Suisse, responsible for CLO transactions in the US and Europe. The appointment comes [...]
Live above the rooftops in City’s sleekest building March 18, 2010 THE Heron, the City’s first residential development in 30 years, will be second to none, from Hong Kong to LA, in terms of style, views and overall quality of design and finish. This assertion is made in a matter of fact way by Lisa Ronson, head of marketing at The Heron’s mothership, Heron International, and [...]
LAWYERS MAKE A KILLING IN COURT SPAT March 18, 2010 YESTERDAY saw sighs of contentment all round at inter-dealer broker Tullett Prebon, as judge Justice Jack ruled in its favour after almost a year of wrangling with rival BGC about a staff poaching operation. Though of course, after seven months of advisory work and a trial lasting the best part of four months, it’s the [...]
Arriva soars after foreign bid approach March 17, 2010 ARRIVA, the bus and train operator, has received a £1.4bn takeover bid from Deutsche Bahn, the German state-run transport group. Shares in the Sunderland-based company soared yesterday following the news of the 700p per share offer, rising by almost a fifth – their biggest jump for 15 years – eventually closing up 16.8 per cent at [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 15, 2010 FINANCIAL TIMES RBS eyes £10bn debt buy-back as it plans balance sheet shake-up Royal Bank of Scotland is planning a vast balance sheet restructuring in an attempt to boost its capital strength and its standing with bond investors. The move could involve at least £10bn (€11bn) of the bank’s £28bn of debt being bought back [...]