Hammerson makes £423m sale but retail troubles take a chunk out of income July 29, 2019 Hammerson this morning announced it has sold a 75 per cent stake in Parisian shopping centre Italie Deux for £423m. The retail property giant said the deal with Axa Investment Managers brought it to more than 90 per cent of its annual £500m disposal target. Hammerson also released its half-year results this morning. It reported [...]
City Moves for 4 July – Who’s switching jobs? July 4, 2019 Today’s City Moves includes Taylor Wimpey, Relendex and Queensberry. Taylor Wimpey Taylor Wimpey has announced that it has appointed Irene Dorner as its new non-executive chair of the board. Irene will join as chair-designate and as an independent non executive director on 1 December. She will work closely with Kevin Beeston during a handover period [...]
City Moves for 17 June – Who’s switching jobs? June 17, 2019 Today’s City Moves includes Cushman & Wakefield, Wavemaker and Stenn International. Cushman & Wakefield Cushman & Wakefield has appointed Greg Mansell as head of UK research and insight, based in London. Greg joins the firm with more than 10 years’ experience researching and forecasting global real estate markets. Most recently, Greg has run his own [...]
Catlin founder launches new insurer Convex with $1.8bn capital April 30, 2019 The founder of Catlin has launched a new insurer today, four years after the $4.1bn (£3.14bn) sale of his eponymous company. Stephen Catlin will be chair and chief executive of the new insurer, called Convex, with former Catlin chief underwriting officer Paul Brand as deputy chief executive. Read more: XL Group profits jump following Catlin [...]
UBS and Deutsche in ‘serious’ talks over asset management merger April 24, 2019 The asset management divisions of Deutsche Bank and UBS are in “serious” talks over a potential merger, according to reports. The combined businesses would have more than €1.4 trillion (£1.2 trillion) of assets under management, overtaking Legal and General in the UK and France’s Axa to create a rival to Amundi, which is Europe’s largest [...]
London AI startup Cytora raises £25m from Swedish backer EQT Ventures April 17, 2019 Cytora, a provider of artificial intelligence (AI) technology to transform commercial underwriting in insurance, has today closed a £25m series B funding round led by EQT Ventures. Existing investors Cambridge Innovation Capital and Parkwalk also participated in the round, as well as a number of angel backers. Read more: Startups eye bigger slices of the [...]
10 most popular funds in February 2019 March 15, 2019 By Kyle Caldwell from interactive investor. UK shares look cheap, but Brexit uncertainty has stopped some fund investors into their home market. From both a growth and an income perspective, the UK stockmarket is as cheap as chips, but retail investors continue to shy away, data from our parent company interactive investor shows. On the [...]
Aon confirms interest in multi-billion tie-up with Willis Towers Watson March 5, 2019 Aon confirmed today it is weighing up a bid for Willis Towers Watson in what could be the insurance sector’s largest-ever merger. Willis Towers Watson’s shares had jumped to an all-time high after Bloomberg reported Aon was mulling a move for the Nasdaq-listed business. Aon later confirmed that it was in the early stages of [...]
Square Mile skyscraper to bring in Shard man Danny Lemon February 26, 2019 The City's tallest skyscraper has drafted in The Shard’s former manager as it prepares to open its doors later this year. Developers at 22 Bishopsgate, the 62-storey building in the Square Mile known as "Twentytwo", have hired Danny Lemon to oversee the set up and management of the trophy building ahead of its opening late this [...]
Swiss Re boosts profit 27 per cent in 2018 despite tough year for natural disasters February 21, 2019 Swiss Re boosted net profit 27.2 per cent in 2018, despite sustaining hits from natural and man-made disasters. The reinsurer reported net profit of $421m (£366m) compared with $331m a year previously, despite 2018 being the fourth-costliest year on record for the insurance industry. However, its profit is 37 per cent behind consensus, according to figures [...]