City Moves: Who’s switching jobs in the Square Mile this week? January 21, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. CISI The Chartered Institute for Securities & Investment (CISI) has confirmed that its long serving CEO Simon Culhane will step down. Handing over the reins in September, Culhane will depart the top role after 18 years. Culhane, who grew CISI’s [...]
Battle of the City skyscrapers heats up as shiny new 22 Bishopsgate lures law firm McDermott away from Heron Tower January 20, 2022 City law firm McDemott Will & Emery is moving out of the Salesforce Tower, commonly known by its former name as the Heron Tower, to move to the 46th floor of the brand new 22 Bishopsgate skyscraper. The Salesforce Tower, minutes from Liverpool Street, housed the Chicago-based law firm for more than a decade. However, [...]
Climate-conscious insurers scrap coal exit policy to stay on right side of antitrust rules January 19, 2022 A coalition of climate-conscious insurance companies have reportedly scrapped plans to stop insuring coal miners, to ensure they are not violating antitrust laws. The Net Zero Insurance Alliance, whose founding members include Axa, Allianz, and Aviva, dropped plans for a coal exit, after receiving advice from lawyers that the plans to join forces to prevent [...]
Exclusive: SIPP godfather John Moret on half a century in the City’s pensions space January 10, 2022 Often referred to as Mr SIPP, or the godfather of SIPP, for his work in developing the self-invested personal pension market, Square Mile insider John Moret is one of the most influential figures in the UK’s pensions industry. He is currently chair of advisory business Intelligent Pensions and a non-executive director of Gaud, a fast growing SIPP [...]
Things between Zurich and Greggs heat up as insurer insists on slicing bakery’s £100m covid claim to £2.5m December 14, 2021 Zurich Insurance has retaliated in a London court against a claim by bakery chain Greggs for between £50m to £100m in payouts for Covid-19 related losses, according to reports. The insurance giant told the court that its business interruption cover went up to £2.5m for a single event, according to Legal 360, which first reported [...]
Gresham House outruns expectations and charts 50 per cent AUM growth to more than £6bn December 9, 2021 Alternative asset manager Gresham House expects to “significantly outperform” market expectations with assets under management (AUM) growth of at least 50 per cent to £6bn by the end of the year, as investors chase sustainable classes like forestry. Its confident update to the market pitched adjusted operating profit at more than £18.5m – £3m above previous [...]
City Moves: Who’s switching jobs in the Square Mile today? December 1, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Two Magnolias UK-focused venture capital investor Two Magnolias has posted the former UK head and European president of BP to its board. Peter Mather, who will chair the board, will help Two Magnolias close its new £50m sustainability [...]
Rising insurance costs could be ‘last straw’ for struggling small businesses November 24, 2021 Half of small and mid-sized UK businesses have seen increases in pandemic-related exclusions in their cover, according to broker Marsh, as insurers try to stop their £1bn bill from mounting further.
London’s Wolseley restaurant owners take Axa to court over Covid insurance disputes November 20, 2021 Hospitality groups, including the owner of London's Wolseley restaurant, are set to bring lawsuits to Axa insurance over Covid-related losses, according to reports.
Insurance body ABI names Nicky Morgan new chair amid management shake up November 10, 2021 Former MP Nicky Morgan has been appointed as the first independent chair of the Association of British Insurers (ABI), as the trade body overhauls its management. Two more senior appointments were today announced by the ABI, whose members include Aviva and Axa, as part of reforms by the organisation to improve consumer trust in the [...]