City Moves for 17 July 2014 | Who’s switching jobs July 16, 2014 Ropes & Gray Monica Gogna has been appointed partner in the law firm’s global investment funds group. She joins from Pinsent Masons, where she was a partner on its financial services team. Gogna has also worked for Clifford Chance, and trained at Mayer, Brown, Rowe & Maw. VTB Capital Nick Hutt has been appointed interim chief [...]
SFO to probe Sweett Group bribery claims July 14, 2014 SHARES in Sweett Group tumbled 8.4 per cent yesterday after the Serious Fraud Office (SFO) launched a probe into an alleged bribe by a former employee to secure a $100m (£58.2m) construction deal in Morocco. The 86-year-old surveyor, which oversaw the fit-out of the Shangri-La hotel in the Shard, hired lawyers last year to investigate [...]
UK vs ECB: Britain squares up to Eurozone in legal battle for City’s rights July 9, 2014 British lawyers accused the European Central Bank (ECB) of breaking the single market rules in a landmark case yesterday. By insisting euro-denominated payment transactions are cleared within the Eurozone, the ECB is breaking the law, the Treasury argued. The UK complained in 2011 but it has taken until now to reach the European Court of Justice [...]
City Moves for 10 June 2014 | Who’s switching jobs June 9, 2014 Allianz Global Corporate & Specialty The corporate and specialty insurance business has announced the appointment of Hayden Baker as a senior financial institutions underwriter for its regional unit in London. He previously held roles at ACE Insurance. Sheffield Haworth The recruitment firm has appointed Jon Regan as global head of electronic markets, prime services and infrastructures. He [...]
City Moves for 19 May 2014 | Who’s switching jobs May 19, 2014 Colliers International The property company has announced the appointment of Henry Peto as a director in its tenant representation division. He was most recently at Cushman & Wakefield, where he worked in its London markets team. Squire Sanders The legal practice has appointed Gary Paddison as a partner in its real estate practice group. He [...]
Surprise last minute deal on banking union March 20, 2014 EUROPE’S banks will fund a new bailout fund more quickly than expected, under a deal struck in the early hours of yesterday morning. The Single Resolution Mechanism (SRM) is the latest step of the banking union plans slowly being negotiated in Brussels. There were fears the European Parliament and EU Council would not be able [...]
Brussels tries to ban prop trading in UK and Europe January 29, 2014 BANKS face a ban on proprietary trading in the UK from 2017 under European Commission proposals published yesterday, a major shock to lenders who had not expected an outright ban. The proposals will force big banks to set up separate arms for any activity which is not standard retail or commercial banking, and could even [...]
Humiliation for UK as Europe overrules finance veto January 22, 2014 THE CITY is braced for a beating from Europe, after Britain lost a key legal case that could set a precedent for Brussels to overrule the UK in financial services. In a shock decision the European Court of Justice (ECJ) went against its own legal adviser to give the European Securities and Markets Authority the power [...]
Britain defeated as ECJ upholds ban on short selling January 22, 2014 Britain’s attempt to overturn the EU’s ban on short selling of shares in market emergencies has ended in failure after the European Court of Justice (ECJ) dismissed the case.The UK had argued that the European Securities and Markets Authority (ESMA) was given greater discretion than was justifiable under EU law.The court rejected all four of [...]
Britain defeated as ECJ upholds ban on short selling January 22, 2014 Britain's attempt to overturn the EU's ban on short selling of shares in market emergencies has ended in failure after the European Court of Justice (ECJ) dismissed the case. The UK had argued that the European Securities and Markets Authority (ESMA) was given greater discretion than was justifiable under EU law. The court rejected all [...]