Directors support government plans for devolution to regions July 26, 2015 Most business leaders are backing the government’s plans to devolve powers to cities and regions, according to a new survey out today. Two-thirds of business leaders polled by the Institute of Directors (IoD) said they supported chancellor George Osborne’s plans for devolution, while more than 75 per cent said they specifically backed devolving powers over [...]
City Moves for 27 July 2015 | Who’s switching jobs July 26, 2015 Fulcrum Asset Management The asset manager has appointed Matthew Wright as director in its sales and marketing team. He joins from Newsmith Asset Management, where he was partner. Wright has 16 years’ experience, and has also held roles at Fidelity, UBS Global Asset Management and Carmignac. International General Insurance Holdings Stuart Elliot has been appointed [...]
Roger Federer, Tiger Woods and Phil Mickelson named the three most marketable athletes in the world July 24, 2015 No one sells like a golden oldie when it comes to sports, according to a new power ranking of the world's most marketable athletes. Read more: Ronaldo named Europe's "most marketable" footballer Roger Federer, Tiger Woods and Phil Mickelson are all nearing the twilight of their careers, but have been named as the three most marketable [...]
Nikkei swoops for Financial Times as outbound Japanese M&A hits all-time record in 2015 and analysts cite Abenomics July 23, 2015 Japanese firms are casting their nets far and wide as deals activity heats up, with media giant Nikkei’s £844m swoop for the Financial Times yesterday taking the country’s outbound M&A to an all-time high in 2015. Companies from Japan have splashed nearly $53bn (£34bn) on foreign takeovers so far this year, putting them on [...]
Bag being transported by G4S containing NZ$1m goes missing at Hong Kong International Airport July 23, 2015 Someone is surely in a lot of trouble (or somebody is very rich) after a bag containing NZ$1m (£425,000) went missing at Hong Kong International Airport, having fallen while being moved. The bag was being carried by outsourcing giant G4S (it of the botched Olympics security contract), which specialises in transporting valuable cargo. The company [...]
City Moves for 23 July 2015 | Who’s switching jobs July 22, 2015 Knight Frank Stephanie Gray has been appointed senior surveyor in the property consultancy’s capital markets team. She joins from Inglis Howie, where she was a senior surveyor involved in investment acquisitions and disposals across the UK. Neptune Investment Management The fund manager has appointed Joshua Ausden as head of client investment strategy. He joins in [...]
Rothesay Life racks up biggest buy-in of 2015 with new £1.6bn CAAPS deal July 21, 2015 Insurance firm Rothesay Life has completed a £1.6bn bulk annuity deal with the Civil Aviation Authority Pensions Scheme (CAAPS), the second largest buy-in ever secured by a UK pension scheme. The arrangement is also the largest de-risking transaction completed so far this year. Rothesay Life has now written £3.4bn of new business year-to-date in 2015. [...]
FTSE stumbles over corporate results and commodity falls – London Report July 21, 2015 BRITAIN’S top share index edged lower yesterday as a mixed set of corporate results and lingering concern over commodity price falls outweighed a rebound for gold-mining companies and a rally in car insurers. The FTSE 100 index closed down 0.29 per cent at 6,769.07p after gaining 0.2 per cent in the previous session. EasyJet was [...]
Red tape officers must allow banks to take risks: There’s no business without it July 21, 2015 It's clear there is still a major gap in understanding how growth can be maintained and stimulated by effective risk management, rather than restricted by focusing purely on compliance control as this recent report on soaring pay for so-called red tape officers shows. Some still blame excessive regulation for a stalling in financial firms’ [...]
Apax takes control of US-based insurance broker AssuredPartners July 20, 2015 Private equity group Apax has snapped up fast growing US insurance broker AssuredPartners. The broker, which was founded four years ago, was previously owned by buyout firm GTCR and is led by former Brown & Brown executive Jim Henderson. It is currently the sixth largest property and casualty broker in the US, and also has [...]