Activist shareholder Caius Capital takes five per cent stake in embattled Metro Bank Metro Bank London-based activist shareholder Caius Capital has taken an £11m stake in embattled challenger bank Metro Bank. The investment brings Caius Capital’s stake to five per cent, making it one of Metro Bank’s ten largest investors. The stake from Caius Capital, an alternative investment manager focused on “distressed and special situations”, comes a month after Metro [...]
Shareholders launch campaign to tie Elon Musk’s salary to Tesla’s ESG ESG performance Shareholders, spearheaded by activist investor Tulipshare, have launched a campaign to tie Elon Musk’s salary to Tesla’s environmental, social and governance (ESG) performance. The announcement comes months after the electric vehicle (EV) powerhouse was booted from S&P’s ESG index. According to Tulipshare, tying the chief executive’s salary to ESG would ensure the company improves its [...]
TP Icap under pressure to sell off high-margin Parameta data division Sell off FTSE 250 finance firm TP Icap is facing pressure from some of its biggest shareholders to break itself up by selling off its high margin data division. Several of the firm’s most important institutional investors have begun talks about pressing TP Icap into exploring a formal sale of its Parameta analytics business, Sky News reported. [...]
Hedge Funds hit out at London Metal Exchange over ‘conflicts-of-interest’ in nickel price fiasco June 8, 2022 The Managed Funds Association (MFA), a powerful Washington lobby group, has accused the London Metal Exchange (LME) of failing to manage its “conflicts-of-interest,” as the market faces mounting criticism over its decision to halt nickel trading last March. In comments submitted to the LME, the industry body which represents hedge funds with £2.6trn worth of [...]
EY to capitalise on booming private equity market via $1bn investment over the next four years June 8, 2022 EY today set out plans to capitalise on the $5trn private equity (PE) market, with a view to bolstering its PE offerings by investing $1bn (£800m) into its business over the next four years. The Big Four accountancy firm said it aims to solidify its “leading market position” by investing the $1bn sum into expanding [...]
London Metal Exchange faces second lawsuit this week after Jane Street sues over nickel trading fiasco June 7, 2022 New York trading firm Jane Street Capital has followed its Wall Street rival Elliot Management in filing a lawsuit against the London Metal Exchange (LME), over its decision to halt trading of nickel and cancel trades in March. The high-frequency trading firm is suing the LME for $15.3m (£12.2m), after the Hong Kong Exchanges and [...]
Hong Kong stock exchange to open US and Europe offices May 23, 2022 The Hong Kong stock exchange is planning to set up two new international offices in the US and Europe, in an effort to draw overseas investors back to the City state. Speaking to the South China Morning Post (SCMP) at Davos, Nicolas Aguzin, the head of Asia’s third largest stock market, said the new offices [...]
Slater Investments slaps down Miami fund’s £482m Randall & Quilter takeover bid May 10, 2022 A major investor in AIM listed insurer Randall & Quilter has rejected a £482m offer to take the company private, after claiming the offer is too low. Slater Investments, which owns a 10 per cent stake in the Bermuda based firm, rejected Brickell’s offer, after slamming the Miami headquartered fund’s offer to pay 175p-per-share. “In [...]
Activist investor Bramson muscles in on Navient after Barclays defeat December 20, 2021 Sherborne Investors, the fund led by activist investor Edward Bramson, has muscled in on Navient and built a stake of around 16 per cent in the US-based student loan management company, it said today. Seven months after the fund admitted defeat in its three-year campaign on Barclays, in which it pressured the lender to oust [...]
Analysts ponder whether activist fund Elliott is more in need of a ‘shake-up’ than the firms it invests in December 15, 2021 Activist investor Elliott has ramped up its pressure on UK businesses this year, taking on builder Taylor Wimpey, pharmaceuticals firm Glaxo Smith Kline, and energy giant SSE. It took a sizeable top-five stake in SSE in September and last week wrote a ten-page letter to the firm’s chairman Sir John Manzoni criticising the firm’s CEO [...]