Six years of ultra-low interest rates: Where can you find income? March 3, 2015 Consider markets buoyed by QE, and remember that cash will be a lonely place for some time. It's an anniversary many UK savers will wish they never had to mark. Six years ago this month, the Bank of England cut interest rates to a record low of 0.5 per cent, as Britain grappled with the [...]
Aviva takes its client to court over an insurance contract capable of making him wealthier than the company itself March 2, 2015 Aviva France is fighting one of its clients in court over a life insurance contract that could make him a billionaire by the end of the decade. Called a Fixed Price Abitrage Life Insurance Contract, it was given to the now 25-year-old Max-Hervé George by his father when he was seven. It was the brainchild [...]
Businesses including PwC, KPMG and Axa back four-week limit on unpaid internships proposed by campaign group Intern Aware February 26, 2015 Some of the UK’s biggest businesses are backing a ban on internships which force young people to work for long periods of time without pay. Accountancy giants KPMG and PwC along with insurance firm Axa are putting their weight behind campaigner’s calls to place a four-week limit on internships which do not offer pay. Campaign [...]
Axa shares soar to highest level since Global Financial Crisis February 25, 2015 Shares in Axa hit their highest level since 2008 yesterday on the back of strong earnings for 2014, which saw profits jump 12 per cent. Investors were rewarded with a 17 per cent increase in the dividend, to 0.95 cents per share, which pushed shares to a nearly five per cent in early trading, hitting [...]
City Moves for 24 February 2015 | Who’s switching jobs February 23, 2015 Axa UK Bruno Charlin has been appointed chief investment officer at Axa UK. He was previously chief operating officer of group investment and group head of asset and liability management at Axa Group. Charlin has nearly 30 years’ experience in financial services. Duke Street The mid market private equity firm has appointed Stuart McMinnies as [...]
City Moves for 20 February 2015 | Who’s switching jobs February 19, 2015 Hausfeld The law firm has appointed Ed Coulson (pictured) as partner in its London office. He joins from Berwin Leighton Paisner (BLP), where he worked on complex competition and commercial litigation. His appointment follows that of James Henson, who joined in January from BLP, and Shirley Clarke, who recently joined Hausfeld’s financial services litigation practice [...]
Lipton Rogers and Axa takeover Pinnacle tower for £220m February 19, 2015 Developer Lipton Rogers and fund manager Axa have agreed to takeover the stalled Pinnacle tower development in London’s Square Mile. The pair bid around £220m to buy the site located on 22-24 Bishopsgate in the heart of the city. It has been dormant since 2011 when its developer ran out of funding. [...]
City Moves for 18 February 2015 | Who’s switching jobs February 17, 2015 Crowdcube Dean Mayer and Stuart Nicol have been appointed head of Debt and growth director respectively by the crowdfunding platform. Mayer is co-founder of Fidelitas, a mini-bond and debt advisory firm, and brings 22 years’ experience. He has worked at Belvall Capital, Dresdner Kleinwort Wasserstein, RBS and HSBC Private Equity. Nicol has worked at The [...]
Pinnacle design destined for scrapheap February 15, 2015 NEW DESIGNS for the Pinnacle tower in the City are being drawn up as its owners prepare to sell the ill-fated site, where work ground to a halt three years ago. A consortium led by French fund manager Axa is said to be close to buying the scheme from Arab Investments and Sedco. PLP Architecture, [...]
City Moves for 16 February 2015 | Who’s switching jobs February 15, 2015 GE Capital Isabel Fernandez has been named chief commercial officer of the financial services unit of General Electric. Fernandez has been with the firm since 2000. Prior to starting with GE Capital, she was vice president of Project Finance at ABN Ambro Bank. Mediobanca The Italian-based bank has appointed Felipe De Grado as managing director [...]