Tesco’s profits overstatement might be less than it thought October 18, 2014 Did Tesco overestimate its overestimate? The supermarket last month claimed to have discovered a profits black hole of £250m, but now it looks like that figure could be less than originally thought. Sources have told Sky News that the grocer is likely to tell the City it had a shortfall of between £200m and £250m [...]
City Moves for 29 September 2014 | Who’s switching jobs September 28, 2014 Deloitte The business advisory firm has announced two appointments to its hedge fund practice. Chris Farkas (pictured) joins as UK hedge fund leader. He was European head of hedge fund consulting in Deutsche Bank’s prime brokerage group, and has also held senior roles at GlobeOp and Goldman Sachs. Brian Forrester, a partner with Deloitte in [...]
City Moves for 21 November 2014 | Who’s switching jobs November 20, 2014 Berenberg The bank has announced the promotion of David Mortlock to head of its London office. He joined Berenberg in 2010 as head of sales and has been global head of equities since 2013. Mortlock previously held positions at Schroders, Citigroup and MF Global. Edmond de Rothschild Group Marcus Money-Chappelle has been appointed head of [...]
IonStar founders Liz and Tim Hughes talk connecting City talent, lifeboats, piano lessons and how to make a real difference March 15, 2015 Like most couples, Tim and Liz Hughes got to the stage in life where they wanted to start a family. The challenge they faced was that, as successful professional people, they wanted to make the most of their skills and abilities – but also their family life. “Throughout my career, I’ve watched women above me [...]
Acquisitions and a rise in diversity mark year September 8, 2014 ACCOUNTANCY FIRM of the year IT’S been a tough year for many accountancy firms – making it a very tough decision for our judges to make. However, it has also been a year of opportunity, as the achievements of our nominees prove. These companies have forged ahead, seeking new markets – especially in London’s growing [...]
London FinTech startup Kantox flies past $1bn forex transfers thanks to currency woes and economic uncertainty February 9, 2015 Businesses hit by currency volatility and worried by economic uncertainty are increasingly turning to alternative finance services, helping one London FinTech startup fly. Kantox, a peer-to-peer forex platform for business, has flown past $1bn (£657bn) in currency transfers since setting up shop in the capital in 2011 with an astonishing 20 per cent of that- [...]
Mamas & Papas strikes up talks with landlords to cut rental bill August 20, 2014 Mamas & Papas, the struggling upmarket nursery chain, has hired business advisory firm Deloitte to negotiate a company voluntary agreement (CVA) with landlords as it seeks to shed its onerous leases and turn itself around. Chairman David Scacchetti said its international business was performing well, but conditions on the UK high street were the toughest [...]
UK finance watchdog launches probe into Tesco’s profit debacle October 1, 2014 Tesco was put under further pressure yesterday after the Financial Conduct Authority (FCA) said it had launched a full investigation into the Tesco accounting scandal that had knocked £4bn off its market value. Britain’s biggest supermarket stunned the City after revealing last week that it had overstated first-half profits by £250m. The accounting error, which [...]
City Moves for 06 November 2014 | Who’s switching jobs November 5, 2014 Bristows The law firm has announced the appointment of Matt Dennis as a partner in its corporate practice. He joins from Bird & Bird, and has particular experience in international M&A and corporate transactions for clients in technology-related industries. Axa Investment Managers Gregory Venizelos has been appointed senior credit strategist in the asset management company’s [...]
London NFL team worth £100m October 29, 2014 Economy stands to enjoy boost but US sport’s chiefs insist deal a long way off A LONDON NFL team would boost the capital’s economy by more than £100m annually, a new report claims – but the sport’s chiefs have warned that they are not prepared to rush into the move. Deloitte’s study, commissioned by the [...]