CITY MOVES | WHO’S SWITCHING JOBS August 30, 2011 HSBC Private Bank HSBC Private Bank has appointed Katharine Brace as associate director on the media and entertainment team. Brace, who will report to Nick Price, managing director and global head of the media and entertainment group, joins from Barclays Wealth, where she was a vice president in the sports, media and entertainment team. Prior [...]
CITY MOVES | WHO’S SWITCHING JOBS August 24, 2011 Neuberger Berman The independent asset management firm has appointed Joseph Mukungu to the newly created role of senior vice president, head of client services for Europe and Middle East. Mukungu will manage the team based in Europe responsible for advising Neuberger Berman’s expanding client base outside the US. Mukungu joins from JO Hambro Capital Management, [...]
United DHL contract to trigger copycat deals August 23, 2011 MANCHESTER UNITED’S groundbreaking £40m training kit sponsorship with logistics company DHL will spark a stampede among their rivals to secure copycat deals, experts predicted last night. But they warned most will struggle to rake in anything like the £10m a season attracted by United, who can boast truly global reach and have developed the “blueprint” [...]
Bakers sees revenues hit record levels August 17, 2011 CITY law firm Baker & McKenzie regained its position as the world’s largest law firm by revenues yesterday, reporting a record global income of $2.27bn (£1.37bn), a rise of eight per cent from last year. The growth in revenue was led by strong performances across the firm’s Asia Pacific and Latin America offices, particularly in [...]
Profits and dividend rise at Resolution August 16, 2011 RESOLUTION, the life insurance consolidator, yesterday said it had returned almost £100m of cash to shareholders and was on track to redistribute a further £400m in the next year after a successful first half. Resolution said it made an underlying £189m profit in the first half, up from £151m in the first half of 2010, [...]
Resolution profits rise August 16, 2011 Insurance consolidator Resolution reported stronger interim profits, driven by acquisitions, and said it was on course to hit its financial targets. Resolution, created to buy underperforming UK life insurers and merge them into a more profitable whole, made a pre-tax operating profit of £390m in the six months to 30 June, up from 151 million [...]
CITY MOVES | WHO’S SWITCHING JOBS August 11, 2011 More Than The insurance group has hired Janet Connor as its new managing director. Connor most recently worked at over-50s insurance provider RIAS, where she has served as managing director since 2006. Connor has also worked at Legal & General, J Sainsbury and Abbey National, where she was a director in charge of the Abbey [...]
AXA earnings quadruple on gains from asset sales August 4, 2011 AXA, Europe’s second-biggest insurer, said yesterday that first-half net income quadrupled, beating forecasts, helped by €1.44bn in one-off gains related to asset sales. AXA said its net income for the six-month period rose to €3.999bn from €944m in a year-ago period that was depressed by a €1.478bn exceptional loss. The net result, boosted by gains [...]
Haste goes out on a high as business he rebuilt turns in solid performance August 4, 2011 RSA’s outgoing chief executive Andy Haste will be well remembered as the man who turned the British insurance company’s fortunes around. After taking on the floundering insurer in 2003, when its market value stood at £1bn, his eight years at the helm have proved ultimately successful. Faced with huge losses, Haste was quick to make [...]
ENTREPRENEURS NEWS | IN BRIEF July 31, 2011 YOUNG PEOPLE WANT TO BE ENTREPRENEURS Eight in ten young people want to become entrepreneurs. Britain is brimming with future entrepreneurs, a new study into young people’s ambitions has concluded. According to the survey of 2,000 youngsters, commissioned to support the Ambition AXA Awards, more than three-quarters of 11 to 18-year-olds (77 per cent) say [...]