Duke Street takes stake in legal market February 6, 2012 PRIVATE EQUITY firm Duke Street has become the first investment house to take a stake in the UK’s legal sector, buying a majority stake in Parabis Group – the parent company of two insurance litigation firms. Duke Street’s investment, which means it owns just over 50 per cent of Parabis, values the company at £150m-£200m. [...]
We must resist a tax that isn’t FTT for purpose February 6, 2012 AS THE European Parliament held its public hearing on the proposed financial transaction tax (FTT) on Monday, the battle positions were clearly drawn. For the Eurozone, an FTT represents a smallish subsidy to repair damaged national balance sheets; for the UK, the adoption of an FTT would represent a massive drag on the country’s economic [...]
Aviva to cut jobs in fund management January 30, 2012 INSURER Aviva will shed 160 staff from its fund management business, with London suffering the bulk of the cuts, after deciding to focus its efforts on “core” operations. Around 12 per cent of Aviva Investors’ global workforce will lose their jobs during 2012 as the firm cuts niche investment products following poor demand for riskier [...]
PROSPECTS REMAIN GOOD FOR EUROPE IN THE LONG TERM January 29, 2012 Q&A: THE VIEW FROM DAVOS Q. WHAT HAS THE MOOD BEEN LIKE AT DAVOS THIS YEAR? A. The World Economic Forum has inevitably had a somewhat sombre feel but it has also been business-like and focused. What struck me was the universal focus on the issue of the young unemployed, not just in the developed [...]
DIVERSITY MAKES GOOD SENSE FOR EVERY BUSINESS January 26, 2012 GROUP CHIEF EXECUTIVE, AVIVA IN DAVOS last year, the World Economic Forum stirred debate by insisting its strategic partners include at least one woman in their delegations. A month later, Lord Davies released his report Women on Boards, recommending targets for the number of women on company boards. At Aviva, we believe that a balanced [...]
SUSTAINABILITY IS ABOUT MORE THAN THE ENVIRONMENT January 25, 2012 GROUP CHIEF EXECUTIVE, AVIVA SUSTAINABILITY is a word that crops up in a lot of the conversations going on at Davos. For many, it’s a shorthand for environmentalism, but for us it has to mean much more than that. Our relationships with customers can last for decades – running a sustainable business is how we [...]
WE CAN ONLY SOLVE THE CHALLENGE OF PENSIONS TOGETHER January 24, 2012 GROUP CHIEF EXECUTIVE, AVIVA ONE of the great achievements of the post-war years has been the big rise in life expectancy. People are healthier and can enjoy longer lives, seeing their grandchildren and even great grandchildren growing up. This is to be celebrated. But this achievement also poses a big challenge: paying for the growing [...]
WHY PARTNERSHIP IS KEY TO SECURING FINANCIAL FUTURE January 23, 2012 GROUP CHIEF EXECUTIVE, AVIVA LOOKING ahead to Davos, I know it will be a stimulating (and demanding) few days. As the chief executive of an international insurance company I am particularly conscious of the concerns and anxieties our customers have and the difficulties they face in these challenging times. At Aviva we’re here to provide [...]
CITY VIEWS: HOW MUCH OF YOUR CHRISTMAS SHOPPING DID YOU DO ONLINE? January 19, 2012 GAURANG MELATA | AVIVA “I always buy online. It’s flexible, you cut out the middleman and you don’t have to try on things in store and then queue to pay for them.” NOEL PATTERSON | PATTERSON & JAMES CONSULTING “I shopped mainly on Amazon this year. There are no drawbacks to shopping online. You have [...]
Bank stocks lead the way as the FTSE continues its climb January 19, 2012 BRITAIN’S top share index closed higher yesterday, led by banks after bullish earnings from their US peers and with hopes building that the recent coordinated action by central banks and the IMF would be enough to avoid an economic crisis. The FTSE 100 index rose 38.78 points, or 0.7 per cent, to 5,741.15, after breaking [...]