Best of the Brokers for 5 November 2015 November 5, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS Shore Capital kept its “hold” rating on the group, but downgraded its retail earnings estimate for 2016. “Ordinarily, with such a full valuation being applied to activities and our expectations of the company delivering a flat to small decline [...]
City Moves for 5 November 2015 | Who’s switching jobs November 4, 2015 RIDGEWAY PARTNERS The executive search firm has appointed Toby Crosthwaite as a partner. He joins from Russell Reynolds Associates, based in Singapore and London, where he worked on appointments in the insurance sector. In his new role, Crosthwaite will cover work in life insurance, general insurance, and reinsurance. RUSSELL INVESTMENTS Sarah Leslie has been appointed [...]
Investors hold back after Fed hint on rates – New York Report November 4, 2015 Investor caution after Federal Reserve Chair Janet Yellen yesterday pointed to a possible rate hike in December weighed on Wall Street, retracing recent gains along with energy shares. The Dow Jones industrial average fell 50.57 points, or 0.28 per cent, to 17,867.58, the S&P 500 lost 7.48 points, or 0.35 per cent, to 2,102.31 and [...]
Why it’s time to think about remortgaging your house November 4, 2015 Homeowners are currently benefitting from record low interest rates. This is a result of a number of factors, including greater competition in the market, strengthening confidence in the economy, and the Bank of England’s base rate being held at an all-time low. Many seasoned players in the mortgage market may remember watching for the [...]
City Moves for 4 November 2015 | Who’s switching jobs November 3, 2015 OLD MUTUAL GLOBAL INVESTORS Simon Barrett has been appointed head of Middle East and Nordic distribution at the asset manager. He joins from Martin Currie Investment Management, where he was most recently director, international sales and client service. Barrett has over 20 years’ experience in the Nordic region, and has also held positions at Allianz [...]
Oil and tech giants push Wall St higher – New York Report November 3, 2015 Big tech and energy sector gains drove US stocks higher yesterday, boosting an index of 100 major Nasdaq companies to a record closing high. The Dow Jones industrial average rose 89.39 points, or 0.5 per cent, to 17,918.15, the S&P 500 gained 5.74 points, or 0.27 per cent, to 2,109.79 and the Nasdaq Composite added [...]
FCA’s Tracey McDermott announces UK Debt Market Forum at ABI Conference November 3, 2015 Tracey McDermott, acting chief executive of the Financial Conduct Authority (FCA), revealed today that the FCA would be creating and chairing a UK Debt Market Forum. Speaking at the Association of British Insurers (ABI) Biennial Conference, McDermott explained: “This group will bring together the collective wisdom of a broad range of parties including industry, government [...]
Association of British Insurers: Sales of annuities have picked up despite new pension freedoms November 3, 2015 Annuity sales rose to 22,380, worth £1.17bn, during the third quarter of 2015, the first time quarter-on-quarter sales have risen for three years, the Association of British Insurers (ABI) revealed at its Biennial Conference today. By comparison, annuity sales for the second quarter of 2015 where 18,200, worth £990m. Figures from the ABI also revealed that [...]
City Moves for 3 November 2015 | Who’s switching jobs November 2, 2015 WRAGGE LAWRENCE GRAHAM & CO The law firm has announced the appointment of Andrew Warren as business development director. He joins from DLA Piper, where he worked for 17 years, most recently as head of marketing operations. RATHBONE INVESTMENT MANAGEMENT The investment management firm has appointed Natalie Merrens as head of investment solutions for its [...]
Standard & Poor’s warns of greater risks for Chinese insurers as they seek out overseas investments November 2, 2015 Chinese insurers could encounter increased risks as they seek investments overseas, a Standard & Poor’s Ratings Services report released today warned. The report notes that China’s recent economic slowdown and interest rates cut meant insurers were likely to generate less new business and have to increase their claim liability reserves on their existing business. These [...]