CITY MOVES | WHO’S SWITCHING JOBS April 14, 2010 FSSC The Financial Services Skills Council has appointed Trevor Matthews, the chief executive of Friends Provident, as its new chairman. Matthews joins a number of high-profile City bosses on the FSSC board, including Resolution Group chief executive John Tiner, Standard Life managing director John Gill, KPMG vice chairman Brendan Nelson, and Angela Knight, the chief [...]
Red Knights thrash out United plans April 14, 2010 THE group of City financiers hoping to wrest control of Manchester United met in London yesterday to hone their plans. They are understood to have discussed the structure of the complicated share issue that will give fans the chance to buy a stake in the club. They are also thrashing out whether to retain the [...]
Lib Dems: we will ban bank board bonuses April 13, 2010 NICK Clegg, the leader of the Liberal Democrats, yesterday said his party would ban all bank bonuses at board level. Speaking alongside his Treasury spokesman Vince Cable, Clegg said the Lib Dems would “ensure the bonus system can never again encourage banks to behave recklessly”. Clegg, who could play kingmaker after the election if polls [...]
CITY MOVES | WHO’S SWITCHING JOBS April 12, 2010 Shepherd and Wedderburn The law firm has elected James Will, the head of its corporate practice, to the position of chairman after over 20 years as a partner at the firm. Corporate partner Andrew Blain takes over as head of corporate, while Guy Winter has been promoted to partner in the same division. Winter joined [...]
UK Reader’s Digest saved by £13m bid April 11, 2010 BETTER Capital, Jon Moulton’s new turnaround private equity group, has saved Reader’s Digest magazine with an eleventh hour white knight bid. The UK arm of the 87-year-old publisher filed for administration in February, two weeks after the Pensions Regulator rejected a plan to plug the £125m hole in its savings fund. Better Capital said the [...]
Live in a Cold War bunker – the ideal home for a nuclear family with style April 8, 2010 JUST imagine the dinner party possibilities of living in an unusual house. No matter what other people tell you about their wonderful new stables or their eco-conversion, revealing that you live in a converted Cold War military base is sure to stop people in their tracks. Two of the most desirable properties currently on the [...]
City slams Europe bank tax April 7, 2010 THE City hit out at plans to introduce a Europe-wide banking levy yesterday after reports the European Union is prepared to go it alone if it does not achieve an international consensus. A European Union report suggested a levy could raise €50bn (£43bn) a year. The money could either be saved to ward against future [...]
CITY MOVES | WHO’S SWITCHING JOBS April 7, 2010 Nomura The Japanese investment bank has appointed Mikael Dahl as co-head of its Nordic investment banking team, based in London. Dahl was previously a partner at EQT Partners and brings with him over 20 years of investment banking experience. He previously worked at Citigroup/Salomon Brothers from 1994 to 2008, latterly as European co-head of the [...]
Kraft slammed over Cadbury April 5, 2010 THE Business Select committee will today question whether UK takeover laws should be tightened in the light of Kraft’s acquisition of Cadbury. It is expected to criticise the power short-term stakeholders, including hedge funds, can wield over a company’s future. Committee chairman Peter Luff told City A.M.: “I think we need to look seriously at future [...]
Tesco reveals banking target April 5, 2010 TESCO announced over the weekednd its ambitions to create a full service retail bank as part of plans to make up 10 per cent of the UK’s financial services market within the next ten years. The supermarket’s credit card and motor insurance businesses already makes up 10 and 4 per cent of their respective markets [...]