Bluefin Advisory may be sold November 27, 2011 Axa UK has hired advisors to decide whether to sell its Bluefin Advisory Services. Following reports of a possible sale, the company said it had appointed Fenchurch Advisory Partners to consult on “the firm’s strategic options”. “Working closely with the senior management team in BAS, Fenchurch will consider both the prospects for the continued growth [...]
Trap signs lucrative North Sea deal with Centrica and Nippon November 23, 2011 TRAP Oil has inked a potentially lucrative North Sea oil deal with energy heavyweights Centrica and Nippon, City A.M. can reveal. The AIM-listed company has been paid £2.5m in cash for its Kew exploration site and will retain a 20 per cent stake to give it a share of future earnings. The company is due [...]
CITY MOVES | WHO’S SWITCHING JOBS November 21, 2011 HSBC Private Bank Bernard Rennell has been appointed as chief executive for North Asia, subject to regulatory approvals. Rennell, who will be based in the Hong Hong office, will be responsible for all private banking activity for HSBC Private Bank in north Asia, including Hong Kong, China, Taiwan, Japan and the Philippines. A former securities [...]
CITY MOVES | WHO’S SWITCHING JOBS November 15, 2011 Deloitte Analytics Deloitte Analytics has strengthened its partner team in the UK with the appointment of consumer business specialist Jason Gordon, who will lead the division’s consumer business services team. In his new role, Gordon will advise retail, consumer products and travel, hospitality and leisure organisations on ways to gain improved insight and commercial value [...]
Barclays private equity unit in management buyout November 11, 2011 Barclays Private Equity is being bought out by its own management team and will be relaunched as Equistone Partners Europe, it said, adding that the value of the gross assets being sold off was expected to be around £45m. Barclays, which last month posted higher profits as gains in its retail banking and credit card [...]
CITY MOVES | WHO’S SWITCHING JOBS November 3, 2011 Jupiter Unit Trust Managers Simon Somerville (left), deputy manager of the Jupiter global managed fund, will take over as manager of the £256m fund from John Chatfeild-Roberts on 14 November. Chatfeild-Roberts will become deputy manager of the fund. Somerville, who joined Jupiter in 2005 from the position of head of global equities at Cazenove, will [...]
Axa shares up despite 9pc fall in life revenues October 27, 2011 FRANCE’S biggest insurer, Axa, said its life and savings division had been hit by the slowing global economy but said its UK pensions business was growing fast yesterday. Axa said life and savings revenues, which make up the lion’s share of its business, fell 9.3 per cent to €39.8bn (£24.9bn) in the first nine months [...]
CITY MOVES | WHO’S SWITCHING JOBS October 26, 2011 Chaucer Syndicates Mark Wood (pictured) has been appointed as chairman of Chaucer Syndicates, the specialist insurance group that underwrites risk at Lloyd’s of London. Wood, who replaces Bob Deutsch, was previously deputy chairman and chief executive of Paternoster UK, chief executive of Prudential’s UK and European insurance businesses, and UK chief executive of AXA. In [...]
KKR out of contention as buyout groups circle Axa Private Equity October 20, 2011 BUYOUT group Kohlberg Kravis Roberts has dropped out of the bidding process for Axa Private Equity. Canadian asset manger Onex, Canadian pension fund Caisse de dépôt et placement du Québec and sovereign wealth fund the Government of Singapore Investment Corp (GIC) remain in contention after the deadline for first-round bids passed earlier this month. Last [...]
Banks in new private equity sales October 17, 2011 AN increasing number of US and European banks are putting their private equity arms up for sale in order to boost their capital levels. Crédit Agricole has opened exclusive negotiations to sell a “significant interest” in its private equity arm to global secondaries fund Coller Capital, City A.M. understands. The French bank is believed to [...]