Investors demand environment action from KFC, McDonald’s and Domino’s January 29, 2019 A group of investors representing over $6.5 trillion (£4.9bn) in assets has today demanded more transparency and commitments to tackling emissions from fast food chains Domino’s and McDonald’s. An open letter from investors including BMO Global and Aviva has called on the restaurants to publish plans to tackle the environmental risks from their suppliers by [...]
RPC Group’s £3.3bn private equity takeover sparks disquiet among top shareholders January 23, 2019 Private equity firm Apollo Global Management’s £3.3bn buyout of packaging manufacturer RPC Group has sparked a row among investors, who feel they are getting a raw deal. Each RPC shareholder will get 782p cash for every share they own, 15.6 per cent up on the 683.6p closing price on 7 September, the last day before [...]
City Moves for 21 January – who’s switching jobs at Superunion, Opengamma and Aviva? January 21, 2019 Who’s changing jobs today? Superunion WPP global brand agency Superunion announced the appointment of Holly Maguire as UK managing director to drive the growth of its UK business. Holly will be responsible for managing key client relationships with the likes of Coca-Cola, IAG, Nestle, Tesco and Vodafone, and building the success of Superunion since its launch [...]
City Moves for 16 January – who’s switching jobs at Orchard Street, Crowell & Moring and Stephens Rickard? January 16, 2019 Who’s switching jobs today? Orchard Street Orchard Street Investment Management, the specialist commercial property investment manager, announces the expansion of its leadership team with the promotion of Tom Chadwick to partner. Tom joined Orchard Street in 2014 as investment transactions manager following a successful six-year track record at Aviva Investors, where he started his career [...]
Mark Kleinman’s big predictions for the Square Mile in 2019 January 11, 2019 Sir Martin Sorrell’s WPP exit, Unilever’s HQ U-turn, Melrose’s swoop for GKN: 2018 was a year full of surprises in the City. And while forecasting might be a fool’s errand, here are 10 predictions for the year ahead. •Theresa May will decisively lose next week’s “meaningful vote” on Brexit: that’s not a punt that will [...]
Ashtead chief executive to step down next May, replaced by chief executive of US arm November 29, 2018 Industrial equipment rental company Ashtead’s shares were up 5.7 per cent this morning as it announced chief executive Geoff Drabble is to step down in May after nearly 12 years in charge. Chief operating officer Brendan Horgan, who is also chief executive of the group’s North American business Sunbelt Rentals, will succeed Drabble on 1 May. [...]
City Moves for 28 November – who’s switching jobs at Irwin Mitchell, Capita and Wilko? November 28, 2018 Who’s switching jobs today? Irwin Mitchell National law firm Irwin Mitchell has recruited a new senior lawyer for its national real estate department. Michelle Beaumont has joined the firm’s Leeds office as partner. She joins from the Leeds office of Pinsent Masons, having joined that firm in 2006. Michelle has experience of working on a [...]
The Co-op could offload its insurance arm in a £300m deal November 5, 2018 The Co-op Group is reportedly in talks to sell its insurance business to underwriter Markerstudy Group in what would be a £300m deal. According to Sky News the talks between the two companies are at an advanced stage, though no decision has been taken be either side on whether to proceed with the deal. Sky [...]
Aviva chief executive Mark Wilson steps down after almost six years in charge October 9, 2018 Aviva chief executive Mark Wilson stepped down today, with the insurer looking for new leadership for what it called its next stage of development. Wilson, who was brought in to enact a business turnaround in 2013, claimed he succeeded in this goal, with its latest financial results showing it should deliver earnings per share growth [...]
Unilever to stay on FTSE 100: How investors reacted October 5, 2018 Unilever’s awkward climbdown over its attempt to move its main listing to the Netherlands is unlikely to be the last, according to one financial expert, as investors reacted to the company’s decision to retain its London headquarters today. Unilever this morning pulled plans to make the Netherlands its sole headquarters and quit its UK offices, after [...]