City Moves for 11 February 2013 | Who’s switching jobs February 10, 2013 Cushman and Wakefield Donald Reid will join the real estate services company as a head of project management and building surveying. Reid has over 17 years’ experience as a qualified building surveyor, and was most recently head of project management at Davis Langdon. Halebury The law firm has announced three new hires. Michelle Harris, a [...]
Top football clubs call time on sugar daddies February 7, 2013 THE DAYS of mega-rich individuals, such as Roman Abramovich at Chelsea and Sheikh Mansour at Manchester City, lavishing billions on clubs in pursuit of instant success are over after England’s top teams agreed historic new financial rules. Premier League clubs will face points deductions if they lose more than £105m over a three-year period or [...]
The Debate: Will Premier League financial fair play rules have a positive impact on English football? February 7, 2013 YES David Lampitt Football’s finances have long needed a rethink. Clubs are incredibly valuable assets to supporters and communities. They need sustainable long-term stewardship, not a system of casino economics, rampant insolvency and a dependency on the whims of a super-wealthy elite. This can only be achieved through strong independent regulation that includes financial fair [...]
MPs’ concerns over pre-packs February 5, 2013 BUDGET constraints risk undermining the work of the organisation responsible for investigating insolvent companies, a group of MPs warn in a report released today. The business, innovation and skills committee said limited resources at the Insolvency Service affect its enforcement regime, sending the “the wrong message to delinquent directors”. The committee also raised concerns about [...]
City Moves for 5 February 2013 | Who’s switching jobs February 4, 2013 Linklaters Simon Pritchard has been appointed partner in the law firm’s competition team. He is a former senior director of mergers at the Office of Fair Trading (OFT). Pritchard is also editor of UK Merger Control, and an external adviser to the OFT on international competition network matters. Lloyds TSB Commercial Finance Donald Kerr has [...]
Seymour Pierce has reprieve as creditor agrees to late payment February 3, 2013 STRICKEN City broker Seymour Pierce has cleared a major hurdle in its bid to avoid administration after one of its largest creditors made it clear he was willing to be patient about calling his funds in. Hopes the 130-year-old brokerage could be saved from administration were raised yesterday after a major Ukrainian investor indicated he [...]
Recovery hope as insolvency rate declines January 29, 2013 LONDON’S business population got healthier through 2012, according to insolvency figures published yesterday, with the number of firms increasing and the proportion failing coming down. A total of 5,105 firms in the capital entered insolvency in the year, up 2.28 per cent on the year according to Experian. But the rate of insolvency fell to [...]
City’s brightest named in legal hot 100 line-up January 28, 2013 SOME of the City’s top lawyers have been named on the industry’s annual Hot 100 list, including the silk helping Guardian Care Homes pursue Barclays for Libor-related mis-selling and the partner leading Co-op through its bid for Lloyds bank branches. The Lawyer magazine’s 2013 list, released yesterday, singles out 100 legal names to watch this [...]
City Views | Should the government spend £33bn on high speed two? January 28, 2013 STEPHEN HARRIS ACCOUNTANT AND INSOLVENCY PRACTIONER It is a complete and utter waste of money. You cannot balance the books of the country by ploughing money into black hole infrastructure projects. Not one penny of public money should go into HS2. BRYAN HASLAM NETWORK INTERLINKS Yes. Anything with better connections across the country will be [...]
City Moves for 24 January 2013 | Who’s switching jobs January 23, 2013 Lloyds Commercial Banking Anthony Williams has been appointed head of consumer services and entrepreneurs at Lloyds. He joins from Westhouse Securities, the advisory firm. Williams has over 25 years’ experience in banking, and has also held roles at ABN Amro/RBS, most recently as head of consumer sector advisory. Altius Associates Joachim Suter has been appointed [...]