City Moves for 9 February 2016 | Who’s switching jobs February 9, 2016 Lloyds Bank Lloyds Bank Commercial Banking has strengthened its technology, media and telecommunications (TMT) team in London with the appointment of Natalie O’Byrne as mid-markets relationship director. With six years’ experience in corporate banking, she joins the nine-strong TMT team having previously worked in a similar role for Lloyds Bank Commercial Banking looking after clients [...]
UK insurance firms feeling the pressure from the top and the bottom of the market – PwC February 9, 2016 Insurance firms are feeling the pressure from below and above, according to new data out today from accounting group PwC, with bosses citing regulators and new competitors entering the market as two of their biggest concerns. The survey revealed that 94 per cent of insurance chief executives are concerned that over-regulation in the sector could [...]
UK Waspi pensions campaign: The government must revisit changes to the state pension age that disadvantage women February 8, 2016 We in the SNP are not against equalisation of the state pension age; that’s not why we support the Women Against State Pension Inequality (Waspi) campaign. It's perfectly fair for men and women to retire at the same age. However, the pace of the process and the lack of transitional arrangements make up the real [...]
Axa to pay €75m for an eight per cent stake in Africa Internet Group (AIG) and plans to distribute insurance through Jumia online stores February 8, 2016 French insurance giant Axa agreed to pay €75m (£57.9m) today for an eight per cent stake in ecommerce company Africa Internet Group (AIG). As part of the deal, Axa will gain the right to exclusively provide insurance products through Jumia, an online shopping platform and AIG's main subsidiary. "Internet is creating unparalleled opportunities for consumers and businesses in Africa to [...]
Old Mutual share price down as financial services giant agrees sale of Rogge Global Partners to Allianz Global Investors February 8, 2016 Shares in Old Mutual fell this morning, after the company agreed to sell a London-based fixed income asset management unit to Allianz Global Investors. In a short statement issued this morning, the financial services company said that it expected its sale of Rogge Global Partners, which had £24.1bn of funds under management as at the end of December 2015, to complete [...]
City Moves for 8 February 2016 | Who’s switching jobs February 8, 2016 Cluttons The equity partners of real estate services firm Cluttons have elected Steven Morgan (pictured), current Middle East chief exec, as the business’ new senior partner, with the role to commence at the start of the company’s new financial year in April. Steve, who is an existing board member of Cluttons and has been with [...]
EU referendum: Pro-European Union group says Brexit would cost London £13.9bn February 8, 2016 Staying in the European Union will deliver a “permanent boost” to the capital's economy, according to new figures released by pro-Europe business group London First. Analysis conducted by the Centre for Economics and Business Research (CEBR) for the lobby outfit says that EU membership could add £13.9bn a year and 75,000 jobs to London's economy [...]
UK weather: Rising levels of surface water flooding put success of Flood Re insurance scheme at risk, warn academics February 8, 2016 The success of a reinsurance scheme designed to cut insurance costs for households with a high risk of flooding is in jeopardy thanks to rising levels of surface water flooding, academics have warned. According to a paper published today by Grantham Research Institute on Climate Change and the Environment and the ESRC Centre for Climate Change [...]
Former pensions minister Steve Webb warns chancellor George Osborne: Don’t become the ghost of Gordon Brown February 5, 2016 Former pensions minister Steve Webb will today urge chancellor George Osborne to abandon proposals for a controversial change to the pensions system. Webb, who was pensions minister in the coalition and is now director of policy at Royal London, will warn Osborne not to repeat the mistakes of his Labour predecessor Gordon Brown by fiddling [...]
Beazley share price up as insurer reveals a boost to profits for the year ended December 2015 and a planned move to London from Ireland February 4, 2016 Beazley today revealed it was eyeing a return to the UK from lower-tax jurisdiction Ireland as it reported a boost to its profits for the year. The insurer announced that it had made profit before tax of $284m (£194.7m) for the year ended December 2015, which is up eight per cent from $261.9m the year before. "Beazley increased [...]