Gresham House acquires Trade Risks amid strong 2019 performance March 5, 2020 Gresham House announced the acquisition of Trade Risks as it reported a double digit rise in its assets under management. The figures Gresham House reported a 23 per cent increase in assets under management from £2.3bn to £2.8bn. Total income rose 124 per cent from £14.7m to £32.9m, while adjusted operating profit rose 237 per [...]
WPP shares crash as fourth quarter revenue stalls February 27, 2020 Shares in WPP crashed 15 per cent in early trading after the advertising giant failed to deliver growth in the fourth quarter. The figures Like-for-like revenue less pass through costs fell 1.6 per cent to £10.8bn for the full year. Profit before tax dropped 21.9 per cent to £982m. Net debt was slimmed down from [...]
European stocks hit record high as Iran tensions subside January 9, 2020 European stocks nudged up to a record high this afternoon as investors reacted to a waning in Middle East tensions and renewed hopes of a US-China trade deal. The pan-European Stoxx 600 index rose as much as 0.7 per cent to hit 421.43, before easing back to just under 420. Read more: Donald Trump says [...]
Longboat Energy IPO raises £10m in London debut November 26, 2019 Longboat Energy, a new North Sea oil company, today announced it had raised £10m in its initial public offering on London’s AIM. The company, which is led by the former leadership of Faroe Petroleum, priced the offering at 100p per share. Read more: China’s Sdic power to list in London for up to £640m Blue-chips [...]
City Moves for 17 October – Who’s switching jobs at Lasalle, Infracapital and Natixis? October 17, 2019 Today’s City Moves includes Lasalle, Infracapital and Natixis Lasalle Lasalle Investment Management has appointed Richard Craddock as managing director of its whole loans division, which launched earlier this year with €600m (£517m) of initial commitments and invests in whole loans across western Europe, with an initial focus on France, Benelux, Iberia, and Ireland. Richard has [...]
Asset Management Exchange announces new $1bn credit fund September 17, 2019 The Asset Management Exchange (AMX) investment platform has announced a new $1bn fund designed to deliver predictable cash flows with lower transaction costs. The Long Term Credit Fund will be run by AXA Investment Managers using a ‘buy and maintain’ credit strategy to build “a well-diversified, benchmark-agnostic, long-dated credit portfolio”, AMX said. Read more: Gresham [...]
Stirling Industries tables £190m bid for Apple Watch supplier Ipsen September 3, 2019 Industrial acquisition firm Stirling Industries is said to be close to snapping up Apple Watch supplier Ipsen International for £190m. Aim-listed Stirling, which was set up last year, is on the brink of closing the takeover of Ipsen, which provides heat treatment services for hardening steel in products across a range of industries. Read more: [...]
City reacts as no-deal Brexit risk looms and pound staggers August 28, 2019 As the political feud intensified in Westminster this afternoon over Boris Johnson’s decision to suspend parliament, over in the Square Mile investors have been reacting to the latest twist in the Brexit drama. The Prime Minister’s plans to suspend parliament sent the pound sliding, while shares in UK airlines and housebuilders – which are typically [...]
Brexit: Sterling sinks as Boris Johnson asks Queen to suspend parliament August 28, 2019 The pound plunged against the US dollar today as Prime Minister Boris Johnson is reportedly preparing to suspend parliament to pursue a no-deal Brexit. Sterling crashed 0.839 per cent to around $1.218 this morning, losing gains from yesterday amid reports that the government is expected to ask the Queen to suspend parliament. This afternoon it [...]
City Moves for 5 August – Who’s switching jobs at Willis Towers Watson, Morningstar and Posterscope? August 5, 2019 Today’s City Moves includes Willis Towers Watson, Morningstar and Posterscope. Willis Towers Watson Global advisory, broking and solutions company Willis Towers Watson (WTW) has announced the appointment Matthew Gooden to the role of director and head of sales across its professional indemnity (PI) team. Matthew will be tasked with driving new business leads for the [...]