City Moves for 12 March 2015 | Who’s switching jobs March 11, 2015 Edmond de Rothschild Olivier Colom has been appointed head of the private banking and asset management group’s new General Secretariat, responsible for ensuring the Executive Committee’s decisions are implemented. He joined Edmond de Rothschild in 2013 as an international adviser, and has previously served as an adviser to the President of France and in various [...]
Argentina turns up the heat on HSBC with demand for £2.3bn of offshore cash March 9, 2015 Argentina is demanding that HSBC repatriate £2.3bn of its clients' money. The bank stands accused of moving the money offshore for tax advantages. The head of Argentina's tax authority, Ricardo Echegaray, claimed HSBC's actions threatened the stability of the Latin American state. Speaking at the Argentine embassy, Echegaray told a host of journalists "HSBC built [...]
General election jitters? UK house prices fall off the boil in February March 5, 2015 The path to house price equilibrium is an undulating one. After a 1.9 per cent spike in January the average cost of a house fell by 0.3 per cent month-on-month in February, according to the latest data from Halifax. This put the price of the average home slightly lower at £192,372, with some analysts suspecting [...]
City Moves for 05 March 2015 | Who’s switching jobs March 4, 2015 Aon Hewitt The talent, retirement and health solutions business has appointed Adrian Mitchell as partner and senior portfolio manager in its delegated consulting services team. He joins from the John Lewis Partnership Pensions Trust, where he was chief investment officer. Mitchell has also held senior positions at Proxima Alfa UK Investments, FF&P Asset Management, JP [...]
HSBC bosses to face more MPs for another interrogation on tax March 3, 2015 HSBC’S chief executive and its former private banking boss will answer questions in parliament on Monday over the group’s Swiss private bank. The Public Accounts Committee, headed by Margaret Hodge MP, has summoned chief exec Stuart Gulliver and ex-global private bank boss Chris Meares, as well as HSBC non-executive director and BBC boss Rona Fairhead. It [...]
JP Morgan and the Brookings Institution host UK-US trade summit: What can cities do to boost exports? February 26, 2015 Sheffield’s manufacturing heartlands were once dominated by grey steel, but now they make something more colourful. Sheffield council’s recent push to boost exports has helped one hair dye manufacturer win a six-figure contract to make hair dye for Asian consumers – and it won’t be the last. “Our initiative is already targeting 60 companies in [...]
Businesses including PwC, KPMG and Axa back four-week limit on unpaid internships proposed by campaign group Intern Aware February 26, 2015 Some of the UK’s biggest businesses are backing a ban on internships which force young people to work for long periods of time without pay. Accountancy giants KPMG and PwC along with insurance firm Axa are putting their weight behind campaigner’s calls to place a four-week limit on internships which do not offer pay. Campaign [...]
Bankrupt chief of finance quits Superdry owner February 25, 2015 SUPERGROUP’S finance chief Shaun Wills left his £475,000 job yesterday after admitting to the company that he had been declared personally bankrupt. Wills, a chartered accountant who joined the owner of the Superdry fashion brand in 2012, is understood to have been caught in a row with HM Revenue & Customs over an unpaid tax [...]
Emma Thompson’s husband refuses to pay tax until HSBC staff are put in prison February 25, 2015 Oscar-winning, actress Emma Thompson, will refuse to pay any tax until those involved in the HSBC tax evasion scandal are put in prison. Thompson's husband and fellow actor Greg Wise told the Evening Standard that he and his wife would stop giving money to HMRC until "everyone pays tax". Wise trumpeted his commitment to socialism [...]
HSBC’s Stuart Gulliver set to face MPs on tax evasion February 24, 2015 HSBC chief Stuart Gulliver will face MPs today to give evidence on claims its Swiss private banking arm helped clients evade taxes. Initially it was only the giant bank’s chairman Douglas Flint who had been summoned to the Treasury Select Committee for a 45-minute session. But now both bosses are attending parliament, and they will [...]