Investment Association chief Daniel Godfrey ousted October 7, 2015 Daniel Godfrey, chief executive of the Investment Association, the UK investment managers' trade body, will leave the board with immediate effect. The news comes after Sky reported on Monday that M&G Investments and Schroders, who between them manage some £550bn of assets, will not renew their contract with group, and Fidelity Investments, Aberdeen Asset Management [...]
Locked & loaded: Is buying a gun a good investment? November 19, 2015 Is a gun a good investment? “Only if it’s in tip-top condition,” says Giles Marriott, who runs the eponymous family dealer business. “The condition needs to be impeccable, and it must be from one of the best makers. Take a bet on a second-rate gun, and you’re playing a dangerous game.” If you know what [...]
Hargreaves Lansdown poaches IG Group finance chief Chris Hill August 10, 2015 Hargreaves Lansdown has nabbed IG Group finance boss Chris Hill, it said in a statement this morning. The financial adviser said Hill, who has been in his position for four years, will take over from Simon Cleveland, a partner at Deloitte who has been acting as interim chief financial officer at Hargreaves Lansdown, in March [...]
Pensions committee warns industry is at risk of next mis-selling scandal over new freedoms October 19, 2015 The work and pensions select committee is today publishing its report on pension freedom guidance and advice, in which it blasts reforms introduced in April as being “insufficient”. The report, the result of an inquiry, announced in July, into recent pension reforms, states that “freedom to choose” is not enough: “People must have the freedom to make a well-informed [...]
Best of the Brokers for 21 August 2015 August 21, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ADMIRAL GROUP Canaccord Genuity upgraded its rating for motor insurance company from “sell” to “hold”. It said profit before tax had beat expectations by 14 per cent over the first half of the year. The higher-than-expected profit was due to profit commission and [...]
Discover the twin islands of Saint Kitts and Nevis, where peckish golfers can tuck into local flora February 8, 2016 With its hazy azure waters lazily lapping the white-sand beaches, and sun seekers pondering which rum-based cocktail to slurp next in the penumbra of a palm tree, the West Indies remains an alluring destination to escape London’s dreary winter. But why stick with one Caribbean island when you can easily fit a couple into the [...]
Labour to City: We’re just not that into you October 15, 2015 This newspaper is not naturally sympathetic to Labour’s new policy direction. Plans for nationalisations, higher taxes and faith in a magical money tree have not gone down well in our editorial conferences. We have, however, kept an open mind. Maybe, just maybe, wiser heads were at work among the chaos of the opposition’s early days. [...]
Insurers’ rugby sponsorship puts a premium on giving staff kicks July 6, 2015 Admiral’s deal with Welsh Rugby Union breaks mould by putting employees first A recurring theme for the businesses sponsoring teams at this year’s Rugby World Cup is the increased exposure their brand can expect to receive from the international tournament. Yet directors at car insurance specialist Admiral will be just as concerned with [...]
Polypipe to pay £145m for rival Nuaire August 5, 2015 PLASTIC piping systems Polypipe yesterday announced that it had agreed to acquire rival Nuaire from Electra Partners for £145m. In a statement to the stock market, Polypipe said the purchase will be financed using a combination of existing cash from the balance sheet and new debt and is expected to complete by the end of [...]
What can Quaker capitalism teach business today? It’s no good being ethical if you don’t make money November 3, 2015 Today, the Friends House on the Euston Road is hosting a Quaker Business Conference on the subject of “what is the purpose of business?” It is the right time to be posing the question and a good location at which to be asking it. The Quakers led the way in some of the [...]