Legal & General faces down pension changes in record first quarter May 6, 2015 Insurance and investment group Legal & General (L&G) delivered a record performance in the first quarter of 2015, with cash generation up to £330m, an 11 per cent increase on the same period last year. General insurance gross written premium fell by four per cent to £81m, which the company attributed to “disciplined pricing”, noting [...]
City pay revolts make a return: Investors are once again feeling uneasy about executive rewards May 6, 2015 Three years on from the so-called “shareholder spring” and listed hedge fund Man Group is again facing murmurs of discontent from investors over pay. The FTSE 250 group, led by chief executive Manny Roman, has put forward a plan to boost executive pay rewards and make it “competitive in the marketplace”. However influential advisory firm [...]
City Moves for 07 May 2015 | Who’s switching jobs May 6, 2015 Norton Rose Fulbright The law firm has appointed Richard Hughes as a partner in its London banking and finance practice. He joins from Simmons & Simmons in London. Hughes has over 25 years’ experience as a finance lawyer, and has also worked in-house. Silicon Valley Bank UK The financial services firm has appointed Gavin Hewitt [...]
Former Lehman Brothers bankers in line for healthier pension payouts May 5, 2015 More than 2,000 ex-Lehman bankers are set for bigger pension payments after bosses of the retirement plan struck a £675m deal to offload it to an insurance firm. Members of the Lehman Brothers Pension Scheme will see payment restrictions – put into place after the bank’s dramatic collapse nearly seven years ago – lifted in [...]
IPOs breathe life into stagnant small caps after investment struggle May 5, 2015 Investments in the UK’s smaller companies have struggled this year, but some fund managers are hoping that newly-listed companies will help revive the sector. Since the start of the year, small caps quoted on the FTSE Aim All-Share TR index have lagged their large-cap peers on the FTSE 100. But since April, smaller companies have [...]
Mix it up: Why you should forget about tomorrow’s election and give Pimms your vote instead May 5, 2015 Tomorrow you’ll be able to decide who leads our great country. Of course, you won’t actually decide anything at all, with the chances of your vote mattering somewhere between zip, zilch and zero. There may be a better way of getting what you want – as Gandhi is (wrongly) thought to have said: “Be the [...]
Ground has come right for 33/1 outsider Lady Kashaan May 5, 2015 TODAY’S Betway Chester Cup (3.10pm) is one of the highlights of the Flat season at one of the most enjoyable meetings of the calendar. The atmosphere at Chester is always electric and I’ll certainly raise it another level if LADY KASHAAN can land the feature at a juicy 33/1 with the sponsors Betway. The rain [...]
City Moves for 05 May 2015 | Who’s switching jobs May 4, 2015 Lloyds Bank Kash Ahmad has been appointed managing director for mid markets in Lloyds Bank Commercial Banking’s global transaction banking division. He previously worked at Barclays Bank for 21 years years, latterly as managing director of inward business for its global corporates division. Mayer Brown The law firm has announced the appointment of David Harrison [...]
Investors await the result of General Election – London Report May 4, 2015 ALL EYES will be on the political polls this week, as the nation gears up for the General Election on Thursday. With little to separate the popularity of the leading parties, the Conservatives and Labour, many expect no party will gain a majority, while many investors and property buyers are holding off from making decisions [...]
Markets rise but Big Mac shares decline – New York Report May 4, 2015 WALL Street ended higher yesterday as corporate earnings came in better than feared, although shares of McDonald’s declined after the fast-food chain’s turnaround plan left investors wanting more. Berkshire Hathaway rose 1.62 per cent, giving the biggest boost to the S&P 500 as the insurance and investment conglomerate’s results beat forecasts. The Dow Jones industrial [...]