A lesson in resigning etiquette from the newly formed Independent Group March 1, 2019 Thinking about leaving your job? Research from insurance firm LV suggests that UK workers change employers every five years on average. Whether it’s career progression, a fresh start, or escaping an unpleasant boss, there are many reasons why we decide to call it a day on a job. Last week, MPs from both sides of [...]
City Moves for 1 March – who’s switching jobs at SThree, Sedgwick and Monzo? March 1, 2019 Who’s on the move today? SThree SThree, the international specialist STEM staffing business, has announced the appointment of Mark Dorman as chief executive. He will join SThree on 18 March. Mark brings a wealth of relevant experience in scaling international business service operations, delivering value-driven strategies and leading great teams, which will complement SThree’s deep [...]
City watchdog under fire for delaying report into RBS’s GRG unit February 28, 2019 The City watchdog has been accused of delaying a report into its controversial decision not to enforce action against individuals within RBS's disgraced global restructuring unit GRG. One MP has said he expects the report to be a "whitewash" when it is published. The Financial Conduct Authority (FCA) caused widespread dismay last year when it [...]
Insurer Hastings adds more customers as it grows profits and revenue February 28, 2019 Hastings’ share price ticked upwards today as it profit and revenue climbed in 2018 even as customer growth slowed. The figures Profit after tax rose three per cent year on year to £130.6m as revenue rose five per cent to £756.4m, compared to 2017’s £715.6m. Gross written premiums also climbed three per cent to £958.3m. [...]
Investing in Aim and EIS shares can add some excitement to your financial portfolio February 28, 2019 You have some cash saved in a rainy-day fund. You’ve invested sensibly in a diverse portfolio that contains a mix of low-cost trackers and well-managed investment funds. But now you want to add a bit of excitement to this financial cocktail. If this describes you, then there are a few ways to go about it, [...]
City Moves for 28 February – who’s switching jobs at AT Kearney, JLL and Bee Midtown? February 27, 2019 Who’s on the move today? AT Kearney AT Kearney, the management consulting firm, has appointed Simon Kent as global head of financial services. He joined as a partner in its London headquarters in 2013 from Navigant, where he was head of financial services. With over 25 years’ experience of advising financial services clients, Simon will [...]
Accountant pleads guilty to stealing £280,000 from pension scheme he administered February 27, 2019 An accountant who acted as an administrator and a trustee to pension schemes has admitted to embezzling £280,000 from a pension fund he oversaw. Roger William Bessent, 66, took the money from Focusplay Retirement Benefit Scheme by converting the transfers into loans and making official minutes listing other trustees as present at meetings they did not attend. He [...]
Brexit uncertainty sparks public to private takeover trend February 27, 2019 Brexit uncertainty has sparked private equity fund interest in UK take-private transactions, new research shows. Of the 42 firm offers for UK public companies last year 31 per cent were made by private equity, analysis by investment bank Jefferies shows. Read more: Why tech startups are snubbing IPOs Public to private deals completed in 2018 [...]
The EIS has cost the government £3bn in tax relief, so why has it become more generous? February 27, 2019 The enterprise investment scheme (EIS) celebrates its silver jubilee this year. Announced by the then chancellor Ken Clarke in the Autumn Budget in 1993, the scheme was launched at the beginning of 1994. The benefits of the EIS have remained generous – in fact, they’ve become more generous. Until April 2011, the up-front tax relief [...]
In for a Penny: Direct Line promotes finance chief to top job February 26, 2019 Insurer Direct Line said today it had appointed its chief financial officer Penny James to succeed Paul Geddes as chief executive with effect from 9 May. James was appointed to Direct Line’s board in November 2017 and became finance boss in March. Previous roles include director of group finance at Prudential, group chief finance officer [...]