Aviva looks to the future but faces a hard slog to get there November 8, 2012 AVIVA yesterday echoed President Barack Obama, promising the best is yet to come as it touted costly transformation plans. It doesn’t face a crisis as ominous as America’s fiscal cliff, but the headwinds are severe. As we wait for a decision on its new chief executive, Aviva can’t even promise an easy transition, admitting with [...]
Aviva to sell US unit at discount to boost revival November 8, 2012 INSURANCE giant Aviva yesterday said it will sell its struggling US business at a substantial discount in order to ensure its radical turnaround plan remains on track. Executive chairman John MacFarlane confirmed that the sale of the Iowa-based business is on the horizon and said it is set to fetch far less than its £2.4bn [...]
City Moves for 18 July 2013 | Who’s switching jobs July 17, 2013 Westhouse Securities The broking group has announced the appointment of Paul Locke as investment funds analyst. He joins from Cantor Fitzgerald Europe, where he was a senior funds analyst. Prior to that, he was a senior funds analyst at Canaccord Genuity. Lloyds Bank John Richardson has joined Lloyds Bank Commercial Banking as head of building [...]
City Moves for 22 July 2013 | Who’s switching jobs July 21, 2013 Carey Group The financial services company has appointed Joe Truelove as a director in its fund administration business. He was most recently at Kleinwort Benson, where he was head of business development for the fund administration sector. HSBC The bank has recruited Luiz Simione as global head of forfaiting and risk distribution for global trade [...]
Aviva appoints former AIA head Mark Wilson as chief executive November 20, 2012 AVIVA, the UK’s second-biggest insurer, yesterday announced it had appointed former AIA boss Mark Wilson as chief executive. The New Zealand-born insurance veteran prepared AIA for its 2010 listing and was credited with successfully steering the Asian firm through the financial crisis in his four-year tenure. His appointment at struggling Aviva comes six months after [...]
City Moves for 29 July 2013 | Who’s switching jobs July 28, 2013 KPMG The professional services firm has announced the appointment of James Wakelin to its real estate advisory team. Wakelin has 11 years’ experience in real estate investment and financing. He was most recently at Pacific Real Estate Capital Partners, where he was a director. Prior to that, he was a director at UBS Investment Bank, [...]
AIA snaps up stake in Aviva’s Sri Lankan unit September 27, 2012 Asian insurer AIA Group said this morning it had acquired the bulk of Aviva’s Sri Lanka operation, in a deal worth $109m (£67.3m). AIA, formerly part of US insurance giant AIG, has agreed to buy a 92.3 per cent stake in Aviva NDB. The transaction includes a 20-year bancassurance agreement with Sri Lanka’s National Development [...]
AIA snaps up stake in Aviva’s Sri Lankan unit September 27, 2012 Asian insurer AIA Group said this morning it had acquired the bulk of Aviva’s Sri Lanka operation, in a deal worth $109m (£67.3m). AIA, formerly part of US insurance giant AIG, has agreed to buy a 92.3 per cent stake in Aviva NDB. The transaction includes a 20-year bancassurance agreement with Sri Lanka’s National Development [...]
Driving down costs of car insurance August 27, 2013 Annabel Palmer on how customers could cut down their hefty London insurance premiums THE AA recently announced that comprehensive car insurance premiums saw their biggest fall since the motoring organisation’s records began in 1994. The average annual quote declined to £594.86 by the second quarter of this year, a 9.8 per cent drop from July [...]
Double broker downgrade hits shares in Aviva September 18, 2012 SHARES in insurance giant Aviva slumped four per cent yesterday after two leading analysts reduced their recommendations on the firm. Bank of America Merill Lynch (BAML) and Deutsche Bank both cut their forecasts after concluding that the company’s stock has risen too much since executive chairman John McFarlane announced a radical restructuring plan in July. [...]