Banking pay-outs: Forex rate-rigging scandal will be bigger than Libor August 24, 2015 The foreign exchange market is the largest financial market in the world, with transactions worth $5.4 trillion taking place every day. The revelation that banks colluded to attempt to manipulate the forex market over many years makes it likely that forex claims will cost the banks more in compensation, as well as regulatory fines, than [...]
Pound plummets to four-month low against the dollar on disappointing inflation figure August 19, 2014 Sterling dropped to a four-month low against the dollar in morning trading, after figures by the Office for National Statistics showed UK inflation slid to 1.6 per cent in July. The pound dipped 0.61 per cent against the dollar to below $1.663, its lowest level since April. Against the euro, it fell 0.32 per cent, [...]
Amlin’s profits battered by strong pound and hail storm catastrophe losses August 18, 2014 Lloyd’s of London insurer Amlin saw its pre-tax profit fall eight per cent for the first half of 2014, with a strong pound and higher than usual catastrophe losses behind the dip. Pre-tax profit fell to £148.5m from £161.4m in the same period a year ago, the FTSE 250 company said in a statement yesterday. [...]
David Cameron looks to City for new business advisory group with bosses from BP, EasyJet and Santander July 27, 2015 Prime Minister David Cameron has appointed a new slate of 19 City leaders to his business advisory group, including more than a dozen chief executives of UK blue chips. The chief executives of BP, Legal & General, EasyJet, Land Securities, the London Stock Exchange Group, Persimmon, Asda, ARM, Severn Trent and Rolls Royce all [...]
City Moves for 10 July 2015 | Who’s switching jobs July 9, 2015 Lloyds Bank Lloyds Bank Commercial Banking has appointed Chris Jackson as head of cash management and payment sales in its global transaction banking division. He joins from Barclays, where he was head of cash management and liquidity sales for the non-bank financial institutions sector. Macquarie Investment Management The investment management firm has appointed Peter Douvos [...]
City Moves for 14 August 2015 | Who’s switching jobs August 13, 2015 Lloyds Bank Commercial Banking Thomas Sandberg has been appointed associate director in the bank’s relationship solutions team within its financial institutions business. He joins from Bank of America Merrill Lynch, where he was vice president of the Nordic market solutions group. Sandberg has also previously held senior structured finance positions at RBS, Citigroup, Morgan Stanley [...]
Perfect timing August 23, 2015 Harriet Green talks pub food, capitalism and the importance of shiny things with Watchfinder’s Lloyd Amsdon When I ask Lloyd Amsdon’s seven year-old step-daughter if she knows what an entrepreneur is, she draws a blank. It may be age-related, but there’s no reason why she would have heard the word. “I’m only an entrepreneur when I’m [...]
City Moves for 05 August 2015 | Who’s switching jobs August 4, 2015 Mayfair Capital Investment Management The UK real estate investment manager has announced the appointment of Phil Sturdy (pictured) as investment director. He joins from Rockspring Property Investment Managers, where he was European director. Sturdy has also previously held positions at CBRE. In addition, Mayfair Capital has appointed Laura Sweet as an asset manager. She previously [...]
City Moves for 06 August 2015 | Who’s switching jobs August 5, 2015 Savills The property adviser has appointed Julian Lyon as director in its worldwide occupier services team. He joins from General Motors UK, where he spent 17 years consolidating its UK property portfolio. Lyon has 30 years’ experience in the commercial property market. Standard Chartered Mark Smith has been appointed group chief risk officer at the [...]
City A.M.’s 10th Anniversary: Celebrating 10 years of events that shaped a decade September 6, 2015 A crunch, a crash, a coalition… When City A.M. hit the streets in 2005 no one could have predicted what was in store for the Square Mile and the broader UK – and global – economy. Here we revisit a selection of the moments that defined the last 10 years, and remember how they were [...]