Axa and Norges to lend to property October 15, 2013 The property arm of French insurer Axa has joined forces with Norway’s largest sovereign wealth fund to provide debt to the property sector, as firms look to fill the void left by the decline in bank financing. Axa Real Estate Investment Managers and Norges Bank Investment Management’s joint venture will target senior loans of up [...]
Versace suitors prepare bids October 13, 2013 FASHION giant Versace is being pursued by a host of suitors keen to bid for a much-coveted stake in the company. Several big private equity buyout names, including Ardian – formerly Axa Private Equity – Permira, KKR, Clessidra and Blackstone, are all considering bidding for the 15-20 per cent stake in the company. Italy’s state-controlled [...]
City Moves for 2 October 2013 | Who’s switching jobs October 1, 2013 Ernst & Young The professional services firm has announced the appointment of Marc Middleton as a partner in its telecoms, media and technology transaction team. Middleton was most recently at Rothschild, where he was a partner and managing director. Investec Specialist Bank The specialist bank has appointed Joanna Turney to its growth and acquisition finance division. She [...]
Loss for ECB’s Draghi as chief adviser moves to insurer AXA October 1, 2013 European Central Bank (ECB) president Mario Draghi is losing his chief adviser to insurer AXA. German Christian Thimann, who has worked at the bank since its inception in 1998, has been on-hand to help tweak an hone Draghi's ideas and policies, and at his side through Eurozone crisis battles. He will be moving to the French [...]
Axa private equity renamed September 30, 2013 Axa Private Equity yesterday completed its carve out from parent company Axa Group, renaming the business Ardian. The name is derived from the word hardjan, used in age old European languages, which it says “embodies a sense of courage and signifies a code of behaviour which all fit well with the culture of the company”.
What the other papers say this morning – 30 September 2013 September 29, 2013 FINANCIAL TIMES CLO issuance hits pre-crisis level Sales of sliced-and-diced corporate loans have reached a fresh post-crisis record as investors clamour for higher returns from the structured financial products. A spurt in sales last week has helped push US issuance of so-called “collateralised loan obligations” so far this year to at least $55.41bn, according to [...]
City Moves for 27 September 2013 | Who’s switching jobs September 26, 2013 Cushman & Wakefield The real estate services firm has announced the appointment of Carl Foreman as a partner, and head of UK property and asset management. He joins from Jones Lang LaSalle, where he was a national director. BlackRock Mark Wharrier has joined the investment management company’s UK equity team as a director and portfolio manager. He will [...]
What the other papers say this morning – 24 September 2013 September 23, 2013 FINANCIAL TIMES Bribery claims hit Glaxo sales in China Sales of GlaxoSmithKline’s medicines in China are thought to have dropped 30 per cent since officials accused the UK firm of corruption, according to Citi analysts’ provisional estimates. Axa eyes Diana ingredient maker sale Axa Private Equity is in talks with JP Morgan to finalise a [...]
Analyst Views: What did you make of the Federal Reserve’s decision not to taper its quantitative easing programme? September 19, 2013 LIZ ANN SONDERS | CHARLES SCHWABWhat we now face is a lingering uncertainty regarding the timing of tapering; which means the sharp rally induced by the announcement could run into trouble. I remain very optimistic about the stock market; but the hope that this was going to be the lifting of one of many uncertainties [...]
City Moves for 18 September 2013 | Who’s switching jobs September 17, 2013 KPMG The professional services firm has announced the appointment of Sean Randall as head of its UK stamp taxes group. Randall spent the past eight years at Deloitte, where he specialised in stamp taxes. JP Morgan Private Bank Antoine Massoud has joined the private bank as a senior banker in its Middle East banking team. [...]