From an optimistic Remainer: It’s not impossible to see how we can make a go of Brexit. Here are two ideas July 15, 2016 As a staunch Remainer, I was hugely disappointed by the Brexit vote. But, what’s done can’t be changed. What is the best way to respond to it? It’s hugely tempting to accuse the Brexiteers of being racist or stupid. We share with glee how some admit that they were conned by Nigel Farage and would have voted [...]
Provincial England has taken over Westminster – and it’s put state intervention back in vogue July 21, 2016 The EU referendum paved the way for the industrial strategy now defining Theresa May’s first weeks in office. Why? Because the provincial English working class and lower middle class forced the country out of its status quo and administered a huge shock to the system. Politicians are realising that options they never previously considered are [...]
How much does a lawyer cost? Top lawyers’ hourly rates are now so high that they’re restricting access to justice, as researchers slam the tradition of the billable hour February 5, 2016 Top corporate law firms have hiked their fees so high that it's now preventing access to justice. According to a report released today by the Centre for Policy Studies, an hour of a partner's time at a leading London law firm could land people with a bill for £1,000. The researchers blame a increase in [...]
The UK legal sector is vital to the City’s international success March 17, 2016 The City of London’s position as a world leader in finance and business is widely acknowledged. I know this only too well from my own work, both as an international commercial barrister and as the current chairman of the Bar of England and Wales. But the City is being challenged by other financial centres in [...]
City Moves for 21 March 2016 | Who’s switching jobs March 21, 2016 Redington Independent investment consultancy Redington has appointed Mitesh Sheth (pictured) as chief executive, effective from 5 April. Mitesh, who is currently Redington’s director of strategy, joined the firm in 2013. Before that he was head of fixed income at Henderson Global Investors and has also held roles at both Watson Wyatt (now Willis Towers Watson) [...]
Fraud damages our competitiveness: There must be no darkened corners in the City February 15, 2016 "Fraud shames our financial system” said the home secretary Theresa May last week, as she launched the Joint Fraud Taskforce, which aims to clamp down on the volume of fraud we face. I was very glad to host the launch at Mansion House, because our government, regulators and law enforcers should know that they have [...]
Budget 2017: The full text of chancellor Philip Hammond’s speech March 8, 2017 Philip Hammond has delivered his first – and last – Spring Budget. Headline announcements included more cash for social care and punishing new rules for the self-employed – plus some vague comments on business rates. Read more: City A.M.'s TL;DR version of the Spring 2017 Budget Here's what he said: Mr Deputy Speaker, I report [...]
City Moves for 6 January 2016 | Who’s switching jobs January 6, 2016 Victoria Michael Scott been appointed group finance director of Aim 50-listed floorcovering designers and manufacturers Victoria. Michael joins after eight years at Rothschild, where, as part of its global financial advisory business, he worked across a wide range of public and private company transactions, mergers and acquisitions and debt and equity-related fundraisings. He qualified as [...]
Aim-listed law firm Gateley reports bumper profits in first set of results since IPO December 15, 2015 Gateley reported today profits before tax for the six months ended 31 October 2015 of £2.9m, up 11.5 per cent from £2.6m in 2014. The law firm, which started trading on Aim in June, also revealed that revenue had increased to £29.6m, a rise of 10.9 per cent from £26.7m the same time last year. The firm [...]
City Moves for 26 January 2016 | Who’s switching jobs January 26, 2016 Ashurst Global law firm Ashurst has strengthened its international arbitration team with the appointment of Matthew Saunders as a partner in the dispute resolution practice, based in London. Matthew joins from DLA Piper, where he was global head of its international arbitration group and was one of the partners responsible for founding the practice. He [...]