UK M&A activity experiencing a “major pause” due to looming EU referendum, market volatility and weakening pound March 22, 2016 The looming EU referendum, market volatility and the weakening of the pound have contributed to a fall in UK M&A activity, new research has found. Foreign spending on British acquisitions has dipped by nearly a third so far this year, according to Deloitte. Between 1 January and 8 March foreign buyers spent $24.4bn (£17.1bn) on acquiring British [...]
Deloitte UK’s Young Banker of the Year Awards 2015 nominees: They’re bankers, but not as you know them… August 27, 2015 Meet Deloitte UK's Young Banker of the Year Awards' nominees In recent years, identifying oneself as a banker has been something of a social faux pas. But are things about to change? As the summer break comes to an end, financial advisers Deloitte are kicking off the new school term with their Young [...]
Almost three months after the Solvency II regulations came into force, fewer than half of EU insurers have coordinated their approach towards capital management March 17, 2016 Many EU insurers are too disorganised in their approach to managing their capital, a professional services firm has warned today. A survey published by Deloitte, which examined 50 insurance companies across 10 different EU countries, discovered that fewer than half of EU insurers have a dedicated capital management department, despite the Solvency II regulations coming into [...]
Is fintech the new black? Lower trust in disruptors gives banks reason to cheer June 10, 2016 Digital innovation – and more specifically the impact of fintech – is currently the most intensely debated topic in the financial services sector. Two years ago hardly anyone outside the industry had heard of fintech. Now it’s the hottest investment class globally for VCs. PwC recently produced a report claiming that over 20 per cent [...]
Top City advisers to be grilled by MPs in wake of BHS collapse May 15, 2016 A string of top City advisers are set for a grilling over the BHS fiasco after being called to give evidence in front of MPs. The business, innovation and skills committee is currently running an inquiry into the sale and acquisition of BHS, which kicked off last week with a joint hearing alongside the work [...]
Premier League spending set to continue as clubs enjoy successive profits for first time since 1999 April 15, 2016 Premier League clubs are gearing up for a potentially record-breaking summer of spending after collectively recording consecutive pre-tax profits for the first time this century. Top-flight teams made a pre-tax profit of around £120m and an operating profit of approximately £550m for last season, data published today by Deloitte reveals. Both figures were slightly down on [...]
Second administrator appointed to untangle the complex web of companies surrounding BHS July 25, 2016 A second administrator has been appointed to investigate the complex web of companies surrounding BHS. FRP Advisory were appointed joint administrators to Duff & Phelps on Friday. City A.M. understands that the firm will be looking at the transactions made between the companies connected with BHS to determine if any assets transacted were undervalued. Read more: Here are [...]
BHS: Expect questions over the pension scheme and Lady Green’s tax arrangements June 16, 2016 There were some tense exchanges between MPs and Sir Philip Green when the retail tycoon appeared in front of MPs this week – but he put in a fairly measured performance overall, maintaining he had no involvement with the running of BHS' pension scheme. Green promised to help the BHS pensioners who lose out from the scheme [...]
What does your gender pay gap say about your business? August 3, 2016 Despite a tumultuous time in recent weeks dominated by the EU referendum, the gender pay gap is still very much on employers' minds. It's an issue that companies can't continue to ignore – and not just because of growing public scrutiny. Employees will increasingly look at published gender pay gap data to reveal a company's [...]
City Moves for 12 July 2016 | Who’s switching jobs July 12, 2016 UBS UBS has appointed Chris Gibson-Smith vice chairman of corporate client solutions, EMEA.Chris brings to UBS more than 40 years' experience across a wide range of sectors including oil, aviation and banking. He has nearly 30 years’ cumulative FTSE 100 main board experience, 20 of which in the role of chairman. Most notably, Chris [...]