Banking Bill gets go ahead December 16, 2013 A RAFT of new banking rules got the green light in the House of Lords last night. The rules introduce a licensing regime for senior bankers and erected a ringfence between banks’ retail and investment arms. But lawyers said much detail still needs to be worked out. “It remains to be seen whether this will lead [...]
UK banks get break from Volcker’s toughest plans December 10, 2013 BRITISH banks with US arms will be allowed to trade in UK government bonds on their own books, US authorities revealed yesterday, diluting earlier plans to ban the transactions. The incoming Volcker Rule is designed to stop banks trading on their own behalf on many financial markets, in a bid to stop what critics believe [...]
Lenders facing prop trading ban in America December 9, 2013 THE VOLCKER Rule is set to be approved today by regulators, who are voting on the controversial plans to ban banks from trading with their own money. New regulations will also restrict banks’ investment in hedge funds, as part of a wider set of measures to reduce the risks banks take. The rule is named [...]
City Moves for 15 November 2013 | Who’s switching jobs November 14, 2013 Sullivan & Worcester The law firm has announced the hire of Mark Norris as a finance partner in its London office. He was most recently at Squire Sanders, where he was a banking and finance partner. Norris has previously held various roles at Simmons & Simmons and Clifford Chance. PwC Michael Spiteri has joined the professional services [...]
City Moves for 25 October 2013 | Who’s switching jobs October 24, 2013 Aon Hewitt The human resources solutions firm has announced the hire of Stephen Hackett as head of health and risk in its benefits solutions practice. He joins from Capita Employee Benefits, where he was head of health management. Prior to that, Hackett was head of employee benefits at Bluefin. Jupiter The asset management company has [...]
City Moves for 17 October 2013 | Who’s switching jobs October 16, 2013 Colliers International The property company has announced the appointment of Michael Hawkins as a partner in its national offices team. He was most recently at WHR Property Consultants, where he was a partner advising property and development companies, funds, and investors. Prior to that, he spent ten years at Lambert Smith Hampton. Balderton The European venture [...]
City Moves for 08 October 2013 | Who’s switching jobs October 7, 2013 Cushman & Wakefield The property company has hired George Edwards as an associate in its London development team. Edwards was most recently at Lambert Smith Hampton, where he was an associate director and member of its investment advisory services team. Mayer Brown The law firm has appointed two partners to its banking and finance group in [...]
Solvency II measures delayed October 2, 2013 European insurance rules that have already cost British businesses at least £3bn have been delayed yet again, Brussels officials said yesterday, amid speculation they will never be implemented. The Solvency II measures, which substantially increases insurers’ capital requirements, will now not come into force until at least 1 January 2016. “There is still no guarantee [...]
City Moves for 2 October 2013 | Who’s switching jobs October 1, 2013 Ernst & Young The professional services firm has announced the appointment of Marc Middleton as a partner in its telecoms, media and technology transaction team. Middleton was most recently at Rothschild, where he was a partner and managing director. Investec Specialist Bank The specialist bank has appointed Joanna Turney to its growth and acquisition finance division. She [...]
City Moves for 30 September 2013 | Who’s switching jobs September 29, 2013 Hausfeld & Co The litigation law firm has appointed Boris Bronfentrinker as partner. He joins from Freshfields Bruckhaus Deringer, where he was a senior lawyer in its cartel defence and commercial disputes practice. Macquarie Securities The institutional equities arm of Macquarie Group has appointed Brandon Krieg as managing director and head of electronic execution in [...]