Possible bidders eye insurance arm of HSBC September 29, 2011 GERMAN life insurer Allianz and French giant AXA are among potential bidders for HSBC’s non-life insurance division, which could fetch more than $1bn (£640.7m) when sold, sources said yesterday. HSBC has sent out information memorandums to potential bidders for the sale of its non-life insurance business, as its chief executive Stuart Gulliver streamlines the bank [...]
Axa is set to sell private equity arm September 28, 2011 AXA hopes to spark an auction after it finally confirmed it is interested in selling its private equity arm. The French insurance group believes Axa Private Equity will go for between £200m and £400m. Axa yesterday said it had begun a strategic review of its PE unit, which was set up by Dominique Senequier in [...]
AXA ‘selling private equity unit’ September 23, 2011 French insurer AXA is putting its private equity unit up for sale, Sky News reported. The unit could be worth around £1bn, according to the broadcaster. AXA declined to comment.
PERSONAL FINANCE NEWS September 7, 2011 NEW MOBILE APP FOR INVESTORS Hargreaves Lansdown has released a new smartphone app, allowing investors to view their Isa, Sipp and other investments on both iPhone and Android systems. Ofcom figures show that 27 per cent of UK adults now own a smartphone.“The age of connected computing is with us,” says Richard Hunter, head of [...]
CITY MOVES | WHO’S SWITCHING JOBS September 5, 2011 Cushman & Wakefield The property consultant has appointed corporate real estate executive Simon Ward as a partner in its EMEA corporate occupier & investor services team in London. Ward has more than 30 years’ experience in European and international corporate real estate, holding senior roles including regional director of corporate real estate at Jones Lang [...]
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, [...]