UK productivity fell at 2010 end April 7, 2011 PRODUCTIVITY in the UK fell by 0.3 per cent in the final three months of the year compared to the previous quarter, officials said yesterday. Compared to the final quarter of 2009, productivity was up by 0.8 per cent, according to the measure of output per worker. Meanwhile, separate data from Experian showed that insolvencies [...]
City Moves | who’s switching jobs March 30, 2011 Astbury Marsden Mark O’Reilly has been appointed as managing director of the financial services recruitment firm’s Asia Pacific operations. O’Reilly will be based in Hong Kong and will continue to lead the expansion of the company’s Singapore and Hong Kong offices. O’Reilly has more than 13 years’ experience in financial services recruitment, including three years [...]
Lloyd’s profits hit by catastrophe claims March 30, 2011 London’s insurance market Lloyd’s of London has posted a £2.2bn pre-tax profit for 2010 despite a year of heavy catastrophe losses for the industry. Lloyd’s, which operates in 175 countries, wrote £22.6bn of gross premiums last year, up 2.9 per cent from £22bn in 2009, but pre-tax profit fell 43 per cent from the £3.9bn [...]
Troubled EU nations trading austerity for aid March 13, 2011 WHY is it that the Eurozone’s leaders will only make a decision when they have their back to the wall? Friday night’s deal in Brussels was only made possible by sovereign downgrades and skyrocketing bond yields that still have the potential to push the periphery over the edge. So what kind of a deal did [...]
Begbies lowers its outlook March 10, 2011 British restructuring specialist Begbies Traynor said it lowered its expectations for full-year results due to a fall in demand for its tax planning services, sending its shares down eight per cent. The company also said restructuring of its insolvency, tax and support areas was expected to cost about £3m for the year ending 30 April. [...]
UK industrial growth set to thrive in 2011 March 10, 2011 BRITISH manufacturing started 2011 with a bang, growing at its fastest annualised rate for over 16 years, official data showed yesterday. The UK’s booming sector has now expanded for 12 months in a row, up 6.8 per cent in January, compared to the same time last year, according to the Office for National Statistics (ONS). [...]
CITY MOVES | WHO’S SWITCHING JOBS March 8, 2011 Cordea Savills The international property fund manager has appointed Alexandra McGhee as head of fund finance, UK, with overall responsibility for the financial control and reporting on funds administered from London, Stockholm and Luxembourg. McGhee’s previous experience in European fund management includes the positions of business development director at Protego Real Estates and finance manager [...]
CITY MOVES | WHO’S SWITCHING JOBS March 6, 2011 GlaxoSmithKline Judy Lewent and Stacey Cartwright have been appointed as non-executive directors of GSK and will join the Board from 1 April 2011, when they will both become members of the firm’s Audit & Risk Committee. Lewent is the former executive vice president and chief financial officer of Merck & Co, and Cartwright is executive [...]
CITY MOVES | WHO’S SWITCHING JOBS February 23, 2011 Smith & Williamson The law firm has appointed a new head of its City-based restructuring and recovery team. Anthony Spicer will take up the role in the firm’s Moorgate office. He is a chartered accountant and licensed insolvency practitioner. He has specialised in turnaround and resturucturing since 1989, on both the lending and company side, [...]
Legal eagle: how London’s top law firm retained its grip on the City February 20, 2011 The head of law firm Slaughter and May is two minutes late for his interview with City A.M., for which he immediately apologies. The first thing is surprising; the second is not. The partners in this blueblooded City institution have spent a lifetime doing things correctly. Even among other Magic Circle outfits, this firm manages [...]