Asset management adds to Lazard results February 2, 2011 Investment bank Lazard’s fourth-quarter profit has beaten Wall Street expectations, helped by higher revenues from its asset management division. Lazard, which struggled when dealmaking dried up during the financial crisis, has been building out its asset management unit in an effort to offset its more volatile advisory revenues. The firm reported a profit of $104.5m [...]
CITY MOVES | WHO’S SWITCHING JOBS January 31, 2011 HSBC HSBC today announces the appointment of Richard Jablonowski as managing director and head of investment counsellors to its private banking division. Based in London, he will report to Daniel Ellis, managing director and head of the investment group at HSBC private bank. Jablonowski joins from Merrill Lynch Global Wealth Management where he spent 11 [...]
Filtrona to name new chief exec January 12, 2011 Speciality plastic and fibre products supplier Filtrona is set to unveil high profile accountant Colin Day as its new chief executive today. The FTSE 250-listed company will announce the appointment of Day, currently finance director at Reckitt Benckiser, alongside its trading update, according to Sky News. Reckitt announced last October that Day would be leaving [...]
Flurry of M&A provides Xmas cheer for traders December 13, 2010 BRITISH companies led a whirlwind of buyout deals yesterday, in a sign of emerging confidence in the M&A market ahead of the Christmas break. London-listed household goods group Reckitt Benckiser bagged privately-held personal care company Paras Pharmaceuticals for around $726m (£460m) yesterday, while oil services firm Wellstream finally agreed to be taken over by General [...]
Reckitt looks to India with £460m deal December 13, 2010 RECKITT Benckiser has gained a foothold in the Indian healthcare market with a £460m deal for Paras Pharmaceuticals. The company, which was majority owned by private equity firm Actis, is a major Indian manufacturer of ointments and flu remedies. The deal puts Reckitt, whose household products include Cillit Bang and Finish dishwasher detergent, on the [...]
Mining firms haul FTSE 100 to highest level in five weeks December 13, 2010 Strong miners pushed Britain’s top share index to a five-week closing high on Monday, buoyed by firmer metals prices on strong economic data from China, while sector consolidation moves gave oil services firms a fillip. The FTSE 100 closed up 47.80 points, or 0.8 per cent, at 5,860.75, its highest close since 9 November, albeit [...]
Reckitt in £460m deal for Paras December 13, 2010 Consumer goods firm Reckitt Benckiser has agreed to buy privately-held Indian company Paras Pharmaceuticals for about $726m (£460m), to boost its operations in a fast-growing healthcare market. Big global healthcare firms are fast driving into emerging markets as sales stall in developed countries and as they look to tap into the healthcare needs of billions [...]
RECKITT BENCKISER APPOINTS CFO November 23, 2010 RECKITT Benckiser has named Liz Doherty as its new chief financial officer (CFO). She will join in January and have a period of handover with Colin Day, the outgoing CFO. Doherty was CFO at Australia’s Brambles Industries for two years and before that group international finance director at Tesco.
Reckitt looks to Asia as SSL joins the fold November 2, 2010 RECKITT Benckiser predicts it will increase profits by 16 per cent in the next year as rising sales in Brazil, India and East Asia drive the company forward despite tough UK and North American markets. The Slough-based company posted a 19 per cent rise in profit to £426m for the three months to September. Revenue [...]
Reckitt Benckiser profit beats forecasts November 2, 2010 Reckitt Benckiser beat City forecasts with an 18 per cent rise in third-quarter profits. The increase follows its takeover of Durex condom maker SSL. The consumer goods company, whose brands include Cillit Bang-to-Nurofen, is expecting the acquisition to fuel s sdale surge. Chief executive Bart Becht said: “For the business ex-RBP (pharmaceuticals), there is no [...]