Sir Martin Sorrell’s venture fund backs US digital asset management firm November 21, 2022 A venture capital fund backed by Sir Martin Sorrell revealed its first public investment in a US digital asset management platform this morning. In a statement, S4S Ventures announced that it had co-led a $10m Series B investment round alongside Bertelsmann’s BDMI for Tenovos, a New York based software-as-a-service provider. Tenovos helps clients streamline and [...]
LIV Golf announces Adelaide event as part of inaugural £344m league season November 14, 2022 LIV Golf’s inaugural league season will visit Adelaide in April, organisers of the big-money circuit have announced. The Grange Golf Club in the capital city of South Australia is set to feature early in LIV Golf’s expanded 14-date schedule for 2023, which will run from February to September. Open champion Cameron Smith is one of [...]
S4 Capital revenues jump despite tech slowdown November 14, 2022 Investors in S4 Capital saw a much-needed boost in share price today after the London-listed firm appeared to dodge the wider tech turmoil. The brainchild of WPP founder Sir Martin Sorrell revealed that like-for-like gross profit climbed over 29 per cent to £249.9m in the third quarter, with “whopper” client projects bolstering the company’s results. [...]
Sorrell tells ad land to calm down about Elon Musk’s Twitter November 3, 2022 Despite the pandemonium caused by Elon Musk’s takeover of Twitter last week, there is one media mogul who seems largely unfazed by the news. S4 Capital chief and former WPP boss Sir Martin Sorrell underplayed the $44bn takeover and said that Facebook owner Meta was the one to watch when it came to the future [...]
Mark Kleinman: Vodafone pressure, steel woes and a new business boss October 6, 2022 Mark Kleinman is the man the City reads – and in his fortnightly column for City A.M., he shares his insight and analysis. Vodafone boss hopes deal eases the pressure At last, an engaged tone. Two months after I wrote in this column that Nick Read, the Vodafone chief executive, was looking nervously over his [...]
City backs mini-budget measures: ‘Scrapping bonus cap shows we are open for business’ September 23, 2022 The City of London has welcomed measures in today’s mini-budget, backing the scrapping of bankers’ bonuses and freezing of cooperation tax hikes. Policy Chairman at the City of London Corporation Chris Hayward responded to Kwasi Kwarteng’s fiscal statement today, which included a raft of changes from planning and benefits to stamp duty and national insurance. [...]
Investors back Sorrell’s aggressive growth for S4 Capital despite heavy losses September 21, 2022 Sir Martin Sorrell’s S4 Capital felt the bite of its own aggressive hiring strategy this morning, with losses more quadrupling in the first half of the year to £75.4m. The loss included £100m of primarily combination payments, some linked to “continued employment”, and the associated expense and amortisation totalling £93.9m versus £41.6m in the first [...]
Liz Truss to launch ‘war on technocrats’ by merging City watchdogs August 18, 2022 Tory leadership frontrunner Liz Truss is planning an immediate shakeup of the City’s major regulators if she wins the race to become prime minister. Truss is planning to merge the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA), and Payments System Regulator (PSR) into a single, new body. The Conservative party MP’s plans comes [...]
Following ‘dreadful’ results shareholder calls for Purple Bricks chair to be removed August 2, 2022 The chairman of estate agency Purple Bricks should be removed following its “dreadful” annual results this morning, a key shareholder has said. Lecram Holdings, which owns 4.2 per cent of the company, called for it to take action after disastrous losses and plummeting revenue for the last financial year. Calling for chairman Paul Pindar to [...]
Sorrell set to call in former WPP Colin Day to help with S4 stock turnaround August 1, 2022 Sir Martin Sorrell is expected to call in former WPP exec Colin Day to help bolster S4 Capital's capabilities this week as the marketing giant battles a plunging share price.