City Moves for 18 January 2017 | Who’s switching jobs January 18, 2017 Boston Consulting Group Paolo Cuomo has joined the Boston Consulting Group as a principal in the firm’s insurance practice. He will work with teams in London and across Western Europe to support (re)insurance clients, including carries, brokers and regulators, on strategy, operational and digital topics. Paolo joins from Charles Taylor, where he was chief operating [...]
Three charts showing why we remain very happy to hold UK banks March 20, 2017 Investors have tended to steer clear of the UK’s big banks since the financial crisis bit in 2008, when share prices plummeted and Lloyds and Royal Bank of Scotland (RBS) had to be bailed out with taxpayer money. As we tend to do, on our Value Perspective blog, we took a different view – arguing [...]
Three charts showing why we remain very happy to hold UK banks March 20, 2017 Investors have tended to steer clear of the UK’s big banks since the financial crisis bit in 2008, when share prices plummeted and Lloyds and Royal Bank of Scotland (RBS) had to be bailed out with taxpayer money. As we tend to do, on our Value Perspective blog, we took a different view – arguing [...]
Lloyd’s of London insurer Catlin’s profits jump ahead of takeover by rival XL February 10, 2015 The figures Lloyd's of London insurer Catlin reported gross written premiums of $5.97bn (£3.92bn) for the year ending December 2014, which was up 13 per cent from $5.30bn (£3.48bn) a year earlier. It said the figure was slightly inflated by foreign currency exchange rates and an increase in the value of multiyear contracts written during 2014 in [...]
City Moves for 23 January 2017 – who’s switching jobs? January 23, 2017 Today's City Moves are dominated by lawyers and bankers. While Andrew Oldland has joined Michelmores LLP, Lloyds Bank has appointed Stephen Quinn to head its global financial sponsors team. Take a look at these movers and shakers: Michelmores LLP Barrister, Queen’s Counsel and part-time judge Andrew Oldland has been appointed as senior partner at Michelmores LLP. He will be [...]
Lloyds private equity arm takes a cut of Rush hair salon January 22, 2017 The private equity arm of Lloyd's Banking Group has announced a £16m minority investment in Rush Hair and Beauty. Backing from LDC will provide support for the business's expansion plans. The hairdressing chain currently has 85 branches, primarily in London, Essex, and the South East. More recently, branches have opened across the country in key [...]
London’s economic growth drops to three-year low as UK loses steam – Lloyds Bank March 14, 2016 London's economic growth plummeted to it lowest since 2013 in February, a survey of businesses shows this morning. The regional purchasing managers’ index compiled by Lloyds Bank fell to a score of 52.2 for London. It is barely above the 50 level that indicates a region’s economy grew over the month and marks a steep [...]
Theresa May steps up Brexit charm offensive, reassuring City chiefs at Downing Street and Morgan Stanley party March 9, 2017 Prime Minister Theresa May has been stepping up a City charm offensive in recent weeks, hosting top bankers and asset managers at Downing Street, City A.M. can reveal. It is understood an hour-long meeting at No 10 in late February was attended by Aberdeen Asset Management boss Martin Gilbert, Schroders’ Peter Harrison, Barclays chief Jes [...]
The cost of talent and housing threaten London’s digital crown March 2, 2017 The government yesterday unveiled its digital strategy – an action plan for growing the digital economy and making the UK the best place in the world to start and grow a digital business. This ambition is undoubtedly very welcome. London is already the best place in Europe for digital startups and scaleups, boasting excellent access [...]
Virgin Active offloads 16 fitness clubs to David Lloyd Leisure February 7, 2017 Virgin Active, the eponymous gym chain, has offloaded 16 of its clubs in the UK to David Lloyd Leisure for an undisclosed sum. The fitness firm will continue to operate 45 clubs in the UK, 33 of which are in London. Last year, Virgin Active sold a further 35 UK gyms to Nuffield Health, a [...]