City bonuses to crash to lowest level since 1998 May 9, 2012 CITY bonuses for the current financial year are set to collapse to the lowest level in fourteen years according to new analysis. For 2012/2013 performance-based bonuses are expected to total £2.3bn – a near 50 per cent crash from this year’s £4.4bn total and less than a fifth of the £11.6bn peak in 2007/08, according [...]
Who are the rebels? May 3, 2012 BEFORE yesterday only three FTSE 100 firms had seen their remuneration reports rejected in the nine years since shareholders gained the right to vote on such matters. But the rebellion by Aviva shareholders shows the growing tendency for major institutional investors to take an interest in executive pay. The identity of voters was secret, yet [...]
FTSE creeps up as investors await BoE decision July 5, 2012 The FTSE 100 edged up in early trading as investors awaited the Bank of England’s next move on interest rates and quantitative easing to be announced at midday. Investors were also watching the unravelling Libor (the London Interbank Offered Rate) scandal with ratings agency Moody’s today threatening to downgrade Barclays over the damage to its [...]
CITY MOVES | WHO’S SWITCHING JOBS May 23, 2012 Freshfields Freshfields Bruckhaus Deringer, the law firm, has appointed Silvia Paternain as head of its global tax practice. She succeeds Colin Hargreaves, who is returning to focus on client work full time. Paternain joined the firm in 1998 and was elected to the partnership in 2004. She specialises in corporate cross-border transactions. Sirius Minerals The [...]
No more rewards for failure – how to claw back pay May 23, 2012 ONE by one, companies with either sub-par performance or poor compensation plans have been brought to account by shareholders. The most spectacular of these was at Aviva where Andrew Moss, recently stood down, but there have been major revolts at William Hill, Pendragon and Trinity Mirror. All of this has been achieved without one bit [...]
Quins eye Tigers final rematch April 22, 2012 HARLEQUINS boss Conor O’Shea cannot wait to collide with Leicester again in the Aviva Premiership play-offs, despite seeing his team brushed aside by the Tigers over the weekend. A 43-33 bonus-point win for Leicester on Saturday lifted them to within a point of Quins at the top of the table with just one round of [...]
ONE FOR THE TROPHY CABINET April 2, 2012 Over the past few days, the Aviva Premiership Rugby trophy has been making its way into City offices, where busy executives have tried to see for how long they can raise the silverware. Martin Smith (pictured above) of recruiting group Hydrogen has taken an early lead in the challenge, which will reward the lucky winner [...]
ONE FOR THE TROPHY CABINET April 2, 2012 Over the past few days, the Aviva Premiership Rugby trophy has been making its way into City offices, where busy executives have tried to see for how long they can raise the silverware. Martin Smith (pictured above) of recruiting group Hydrogen has taken an early lead in the challenge, which will reward the lucky winner [...]
FTSE up as UK manufacturing decline slows July 2, 2012 The FTSE 100 edged up this morning as new data showed that the decline in UK manufacturing slowed in June. The manufacturing PMI – a respected survey of the sector – stood at at 48.6, up from 45.9 in May and well ahead of the consensus forecast of 46.5. New orders also rose strongly to [...]
Beaten English readjust targets April 9, 2012 SARACENS boss Mark McCall has backed his team to bounce back from European disappointment and focus on their Aviva Premiership title defence, starting this weekend at London Irish. Defeat against Harlequins at Wembley 10 days ago followed by a 22-3 Heineken Cup exit to Clermont Auvergne on Easter Sunday leaves the domestic champions with just [...]