AVIVA CONFIRMS MCFARLANE AS CHAIR June 15, 2011 INSURANCE group Aviva yesterday named former Australian bank chief John McFarlane as its next chairman, replacing Lord Colin Sharman who retires at the age of 70. Scottish-born McFarlane spent 20 years in senior City positions before moving to Australia to head up the Australia and New Zealand Banking Group (ANZ) for a decade until 2007.
FTSE pegged back by weak resources March 6, 2012 Resource stocks dragged the FTSE 100 backwards in early trading as fears over global growth continued to cast a shadow over markets. Higher oil prices triggered by the West’s tussle with Iran also added to the uncertainty and investor sentiment was weak. London’s blue chip index tracked losses on Wall Street and in Asia with [...]
CITY MOVES | WHO’S SWITCHING JOBS January 12, 2012 Association of British Insurers The ABI board has appointed Robert Talbut, chief investment officer of Royal London Asset Management, as chairman of the ABI investment committee. Previously the committee’s deputy chairman, he takes over from Alain Dromer, CEO of Aviva Investors. Talbut is a member of the Listing Authority advisory committee and an alternate on [...]
FTSE posts slim gain after Budget March 21, 2012 London’s blue chip index posted a marginal gain on closing after a volatile session as strength in market heavyweight Vodafone countered weaker commodity stocks hit by below par US data which revived concerns over demand for metals. The UK blue chip index closed up 0.54 points, or 0.01 per cent, at 5,891.95, surrendering a 0.3 [...]
Aviva sells RAC to Carlyle for £1bn June 23, 2011 Aviva is to sell its RAC roadside rescue business to private equity firm The Carlyle Group for £1bn, as the insurer continues scaling back from non-core areas to focus on its insurance operations. Aviva said it expected an accounting profit of £600m from the sale of Britain’s second-largest breakdown recovery group, and would use the [...]
Aviva sells RAC to Carlyle for £1bn June 23, 2011 Aviva is to sell its RAC roadside rescue business to private equity firm The Carlyle Group for £1bn, as the insurer continues scaling back from non-core areas to focus on its insurance operations. Aviva said it expected an accounting profit of £600m from the sale of Britain’s second-largest breakdown recovery group, and would use the [...]
Aviva’s strategy pays off as profits rise 5pc and cash generation hits £800m August 4, 2011 AVIVA’s decision to focus its business on just 12 core markets was vindicated yesterday as it reported better-than-expected first half profits. The general and life insurer said it made £1.33bn IFRS operating profit over the past six months, four per cent higher than the consensus estimate for £1.28bn, while its net asset value per share [...]
Carlyle cashes in with £650m sale of Talaris February 14, 2012 PRIVATE equity house Carlyle Group provided a ray of light for the buyout industry yesterday when it agreed to sell cash-counting equipment firm Talaris to a Japanese rival for £650m. Glory, Japan’s largest money-handling machine maker, has agreed to buy Talaris in its largest acquisition so far. It marks a quick exit for Carlyle, which [...]
Solid England won’t make it easy for hosts in ‘Le Crunch’ March 8, 2012 FRANCE vs ENGLAND SUNDAY – 3.00PM BBC ONE FOR Philippe Saint-Andre, the dream of securing a Grand Slam in his first Six Nations as coach of France may be dead, but the Championship trophy is still well within his grasp. This weekend’s match against England is very much the warm-up to an all important showdown [...]
CITY MOVES | WHO’S SWITCHING JOBS February 26, 2012 Pace Pace has appointed Roddy Murray as its new chief financial officer as part of chairman Allan Leighton’s overhaul of the ailing set TV top-box maker. The firm, which issued a string of profit warnings last year, said Murray will take over from Stuart Hall on 6 March, who is leaving after five years in [...]