CITY OF LONDON CHIEF HITS OUT AT PAY RULES December 12, 2010 CITY of London policy chief Stuart Fraser has slammed new EU laws regulating bonus payments as “political point scoring” that will drive business out of Europe and destroy London’s status as a global financial capital. In his column for City A.M. today, Fraser, the chairman of the policy and resources committee at the City of [...]
The head of the world’s largest law firm reveals his plans for expansion December 5, 2010 The new chairman of Baker & McKenzie has a tricky hand to play. Eduardo Leite, who began his three-year term at the beginning of last month, may lead over 10,000 staff (including 4,000 lawyers) spread over 40 countries in 68 offices. And the firm may have produced the biggest revenues in the industry this year [...]
Goldman code theft case starts November 30, 2010 A FORMER Goldman Sachs computer programmer charged with theft of a valuable speed-trading code did not, and could not, harm Wall Street’s most influential bank, his lawyer told a jury yesterday. But a federal prosecutor told jurors Sergey Aleynikov stole critical parts of Goldman’s top-secret high-frequency trading programme because he would earn hundreds of thousands [...]
The dos and don’ts of being headhunted November 24, 2010 YOU may be forgiven if the case of Lonmar Global Risks v West & Others, which came to a conclusion in the High Court earlier this month, passed you by. But the verdict may well have a significant impact on you if you are in one of those City jobs where you work in a team, [...]
BETWEEN MURDOCH AND A VERY HARD PLACE November 17, 2010 FINALLY! A chance for harried BSkyB chief executive Jeremy Darroch to let his hair down: the Sky Christmas party – or “Winter Reception” – invites have been issued, the balloons blown up, the goose cooked. And it will be a well-deserved rest. The Capitalist hears that Darroch has had a stressful few weeks in the [...]
Legal aid to be slashed by £350m November 15, 2010 KEN Clarke, the justice secretary, yesterday unveiled plans to slash Britain’s ballooning legal aid bill by £350m. In the future, the benefit will be scrapped for civil cases involving divorce, medical negligence and school admissions. Clarke said the proposed reforms would save £350m by 2014-15. The current legal aid bill in England and Wales is [...]
How to cut perks without making your team hate you October 27, 2010 I have been asked to get rid of some of my staff’s perks in order to save money, but I am worried about the effect this will have on morale. How can I do this without causing resentment and discord? Ceri Roderick Business psychologist, Pearn Kandola Taking away people’s perks is always problematic – they [...]
A good quality MBA should be all about broadening horizons October 13, 2010 TRADITIONALLY, an MBA has been a generalist qualification which teaches fresh skills and opens up avenues. But a new breed of focused MBAs has emerged in recent years. These concentrate on a specific area such as the energy industry, defence, financial services, the BRIC countries or even corporate and social responsibility (see box). They are [...]
CITY MOVES | WHO’S SWITCHING JOBS October 6, 2010 Nomura Former RBS chief market strategist Bob Janjuah (pictured) and chief markets economist Kevin Gaynor have resurfaced at the Japanese investment bank, where they take up the roles of co-heads of cross asset allocation strategy. Perma-bear Janjuah made the headlines weeks before Lehman Brothers collapsed back in 2008, when he predicted the economic crisis. Geoff [...]
Equality Act may cause surge in Tribunal claims September 30, 2010 LAWYERS warned that the Equality Act, which comes into force today, could cause a flood of claims to hit tribunals if businesses fail to comply with the new rules. The Equality Act 2010 was introduced by Labour deputy leader Harriet Harman’s and fulfilled a 2005 manifesto commitment. The Act brings together nine different anti-discrimination laws, [...]