Interserve boss Dougie Sutherland steps down amid shareholder revolt February 12, 2019 Interserve director Dougie Sutherland is stepping down from the firm's board with immediate effect amid a bitter dispute over a proposed rescue plan for the outsourcing giant. Sutherland, who was appointed to the board in 2011, was a key player in the firm’s ‘fit for growth’ transformation plan and led Interserve’s developments division. Read more: [...]
City Moves for 29 March – who’s switching jobs at Neom, The City Mental Health Alliance and Aon? March 29, 2019 Who’s on the move today? Neom Wellbeing and beauty brand Neom has appointed Emmanuel Osti as chairman. French-Italian Osti was managing director of L’Occitane from 2000 until 2015. During that period the company grew from a brand turning over close to €50m (£42.9m) to a multi-channel business with sales of more than €1bn and over [...]
Fund manager Neil Woodford leads push to oust top Kier Group executives January 13, 2019 Leading fund manager Neil Woodford is leading a push to unseat construction group Kier’s top executive team after its botched rights issue, according to reports. Woodford Investment Management, which owns a 16 per cent stake in Kier, is leading a push to replace chief executive Haydn Mursell and finance director Bev Dew, Sky News reported [...]
My way or the highway: Interserve stock plunges again as chairman says revised rescue deal is ‘only viable option’ March 4, 2019 There was more misery for Interserve investors on Monday as shares plummeted nine per cent in morning trading, after chairman Glynn Barker said the firm’s controversial proposed rescue deal is the “only viable option”. The debt-laden outsourcer put forward a renewed rescue plan last week which doubles investor control, with five per cent of the [...]
Royal London to appoint Standard Life Aberdeen board member Kevin Parry as chairman December 10, 2018 Royal London will appoint Standard Life Aberdeen board member Kevin Parry as its chairman this week. The company is set to announce that Parry will replace former Bank of England deputy governor Rupert Pennant-Rea, who has been in the role for five years, Sky News reported. The appointment will see Parry step down from his role [...]
Working Lunch: We try the Menu du Jour at Canary Wharf’s glassy staple Plateau February 19, 2019 Plateau Canada Square, E14 WHAT AND WHERE? Plateau is a smart, loosely French restaurant that sits atop the fourth floor of Canada Place, a glass cube filled with office escapees wining and dining their clients during the week. Incredibly, it still overlooks the Canary Wharf ice rink – when is that thing going to close? [...]
Can Freshfields’ young guns retain the Magic Circle firm’s private equity crown? October 27, 2019 Freshfields Bruckhaus Deringer’s youthful private equity team are on the frontline of the struggle between UK and US law firms to control the City legal market. The firm has led the European private equity deal rankings for the last three years, seeing off the challenge of both Magic Circle and US rivals. However, the shock [...]
Our high streets are in grave danger June 12, 2019 For decades, the local high street has been the jewel in the crown of UK towns and cities, boasting an array of thriving local businesses and big-name stores. However an outdated business rates system, coupled with the rise of online retail giants, has left them in grave danger. This is a watershed moment for our [...]
Case alleging Libor-rigging launched against raft of major banks January 20, 2019 A string of major banks have been accused of rigging the Libor benchmark again, five years on from a major scandal. A class action has been filed in the US against banks such as the Royal Bank of Scotland, Barclays, Lloyds Banking Group, HSBC, UBS, Bank of America, Citi and Deutsche Bank. The action, which [...]
Morgan Stanley banker drops out of RBS finance chief race November 15, 2018 Morgan Stanley investment banker William Chalmers has pulled out of the race to take the chief financial officer job at the Royal Bank of Scotland. Chalmers had been in the running to replace Ewen Stevenson as the bank’s CFO, but has now withdrawn from the race, it is understood. Sky News reported Chalmers had come [...]