City Moves for 28 January – who’s switching jobs at Tetra Pak, LOC Group and Relendex? January 28, 2019 Who’s on the move today? Tetra Pak The Tetra Laval Group Board has appointed Adolfo Orive as president and chief executive officer of Tetra Pak, the food processing and packaging solutions company effective 1 April 2019. The appointment follows the decision by Mr Dennis Jönsson to step down from his position after 14 years as [...]
Blackrock assets under management drop five per cent January 16, 2019 Blackrock’s assets under management dropped five per cent last year as the world’s biggest investment manager saw inflows slashed in half. The manager reported AUM of $5.97 trillion at the end of 2018, down from $6.3 trillion in 2017. Read more: Blackrock and Metro Bank on shortlist for new responsible business award In 2018, full-year total [...]
Lloyds Banking Group snaps up Bank of America’s MBNA credit card firm for £1.9bn in first acquisition since financial crisis December 20, 2016 Lloyds Banking Group has beaten off other bidders to snap up Bank of America's UK credit card company MBNA for £1.9bn, in its first acquisition since it was bailed out by taxpayers in 2008. The UK lender emerged as the frontrunner to take over MBNA, which holds assets of £7bn, in late November. The takeover is a [...]
City Moves for 31 October – who’s switching jobs at Mayer Brown, Meggitt and IOE&IT? October 30, 2018 Who’s switching jobs today? Mayer Brown Global law firm Mayer Brown announced that Ashley McDermott has joined the firm’s banking and finance practice in London as a partner. He will advise on a range of lending transactions, particularly those involving emerging markets. Ashley’s practice is focused on export, trade and multilateral financing, especially in the [...]
Editor’s Notes: Business leaders are more relaxed about Brexit than you think, the UK is still attracting international students and we should all tune in to Positively Noel February 16, 2018 Businesses seem to be reasonably well represented in the Brexit debate, thanks to the muscle of groups such as the CBI, IoD and British Chambers of Commerce. However, the problem these organisations tend have is that they to settle on a single position despite representing firms of different sizes, spanning different sectors and with a [...]
London office bonanza as City deals drive record take-up December 15, 2017 Businesses continued to flock to the capital in last month, leasing a staggering 1m sq ft of new office space, according to new figures – boosted by the highest take-up in the City since 2004. Data by CBRE showed the amount of office space leased in central London rose 36 per cent in November compared [...]
Robinhood rival Freetrade moves into US stocks as transatlantic retail investing battle hots up January 22, 2019 London fintech startup Freetrade has today launched US stock trading on its app, in the midst of growing rivalry in the commission-free trading space. The app, which offers users the ability to invest in stocks and exchange-traded funds (ETFs) directly without paying commission, said it will start with a curated list of 120 US stocks, including the likes [...]
House prices in UK cities are now less affordable than any time in the last 10 years February 2, 2018 Buying a house in UK cities has reached its least affordable in a decade, new research has shown, after the gap between house prices and average earnings widened further. The average worker in must now spend seven times their earnings to buy a house in a city, figures by Lloyds Bank showed, up from 6.9 [...]
City Moves for 30 October – who’s switching jobs at Target Fund Managers, Argentex and White & Case October 30, 2018 Here’s who’s switching jobs today. Target Fund Managers Target Fund Managers, the external manager to Target Healthcare REIT (THRL), the UK-listed specialist investor in purpose-built care homes, is pleased to announce three appointments to support it in its strategy to manage and grow THRL. Maria Gaurino joins as healthcare director and brings over 18 years [...]
Goldman Sachs profits beat expectations as investment banking revenues jump October 16, 2018 Goldman Sachs beat expectations in the third quarter as revenues at its investment banking units surged in Lloyd Blankfein's final quarter as chief executive. The US investment banking giant beat expectations across the board, with net income of $2.45bn (£1.86bn) almost 20 per cent higher than the analyst consensus. Revenues came in at $8.65bn for [...]