HP reveals board reshuffle January 20, 2011 Hewlett-Packard is shaking up its board, bringing in five new directors including former eBay chief Meg Whitman, as new chief executive Leo Apotheker redesigns the company. In addition to Whitman, HP named as directors Shumeet Banerji, chief executive of Booz & Co; Gary Reiner, former chief information officer of General Electric; Patricia Russo, former chief [...]
ENTREPRENEURS NEWS | IN BRIEF January 20, 2011 START UP DISCOUNT WEBSITE LAUNCHED The National Business Awards Entrepreneur of the Year winner Nick Ogden launched a non-for-profit website (www.business.co.uk) that is designed to encourage entrepreneurs to start their own businesses. The website hopes to provide access to the discounts, offers and incentives that are available through partnership. The companies participating so far included [...]
CITY MOVES | WHO’S SWITCHING JOBS January 17, 2011 RSM Tenon The financial services firm has appointed two new directors and an associate director in London. Nick Atkinson has been promoted to a risk management director, specialising in internal audits of the NHS. Nick Davies (pictured) has been promoted to business advisory director in the audit, tax and advisory team, specialising in corporate clients. [...]
Insurers agree to stop sharing prices January 13, 2011 SEVEN insurance groups including Aviva and Axa Insurance UK agreed to stop sharing motor policy pricing data using an Experian tool after the UK regulator said it could limit competition. The tool, Whatif? Private Motor, allowed insurers to access the pricing information supplied by competitors to brokers, the Office of Fair Trading (OFT) said in [...]
AXA fund raises €350m to finance property loans January 4, 2011 REAL estate asset manager Axa Real Estate has raised €350m (£300m) in the first close of its commercial property debt fund to take advantage of the shortage of bank loans to the sector. The firm is targeting a final level of €1bn for the fund, to add to €1.15bn in existing commitments it has gained [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 3, 2011 FINANCIAL TIMES CHINA TRAVEL GROUP PULLS OUT OF AIM Et-China.com International Holdings, the Chinese travel specialist, will today become the first company to quit Aim this year. Shares in the company, which raised £4.4m at 127p a share when it joined Aim in August 2007, were suspended at 103 1/2p in July because of its [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
KKR’s £1bn bid for Perpetual is called off December 20, 2010 AUSTRALIAN wealth manager Perpetual has called off talks with private equity firm Kohlberg Kravis Roberts over a $1.7bn (£1.09bn) takeover saying the approach undervalued the company, knocking its shares down by nearly 15 per cent. KKR made an indicative bid of A$38 to A$40 per Perpetual share in October, eyeing a slice of the $1.2 [...]
CITY MOVES | WHO’S SWITCHING JOBS December 16, 2010 Bluefin Wealth Management Bluefin Wealth Management, a subsidiary of AXA, has appointed two new financial planners in its London office. Geoffrey Winchester (pictured) joins the firm from St James’s Place Wealth Management, where he was consulting on wealth management and has previously worked at Edward Jones and HSBC as a stockbroker. Paul Bradley joins Bluefin [...]
CREDIT SUISSE December 13, 2010 James Leigh-Pemberton, 54, is managing director and chief executive of Credit Suisse UK, a role he took over in July 2008. He is responsible for developing the bank’s client relationships in private banking, investment banking and asset management in the UK. He also serves as a member of the firm’s Europe Middle East and Africa [...]