You won’t recognise your high street bank in five years’ time February 20, 2014 Small branches with more machines than staff are the future of banking for Britain’s biggest lenders, as Lloyds joins Barclays in creating a new kind of store. Lloyds is understood to be looking into opening new branches in London – a radical change from the industry trend of cutting back on expensive stores in favour [...]
RBS dishes out up to £18.25m of shares to top management team March 7, 2014 Another bout of bonuses-related news – this time going to directors at RBS. It’s handed out as much as £18.25m of long-term share awards to the 11 members of its executive committee. The 81 per cent state-owned lender, which reported a £8.2bn loss in 2013, risks political and public vitriol, as the spotlight remains on [...]
Bank of America Merrill Lynch bolsters UK team March 5, 2014 Bank of America Merrill Lynch (BoAML), which has been playing a leading role in some of the biggest transactions in the London market so far this year, has appointed a new head of UK equity capital markets (ECM). The bank, which is advising on the Pets at Home flotation, the RSA rights issue and worked [...]
City Moves for 14 April 2014 | Who’s switching jobs April 14, 2014 Bishopsgate Financial The financial sector consultancy has announced the appointment of Adam Crawford as a director. He left the Royal Marines in 2012, and has since worked at Oppenheimer and as a freelance consultant for Saab Group. Close Brothers Asset Management The asset management company has hired Amy Lazenby as an investor director and lead [...]
City Moves for 27 March 2014 | Who’s switching jobs March 26, 2014 Hanson Asset Management The asset management firm has announced the appointment of Jonathan Arthur as head of investment management. He was previously head of UK equities at UBS Private Wealth. KPMG The professional services firm has appointed Dan Roman to lead its UK hedge funds practice. He joined the hedge funds tax practice three years ago from EY, [...]
Albemarle stock is suspended as lenders pull out March 24, 2014 TROUBLED pawnbroker Albemarle & Bond yesterday suspended its shares from trading on London’s Alternative Investment Market after lenders said they would no longer support the firm’s turnaround plan. Albemarle shareholders could face losing their money while the firm’s 1,000 staff could lose their jobs. “These remaining options open to the company, which could include the [...]
Old Mutual sells German insurer to joint venture March 28, 2014 UK LISTED fund manager Old Mutual has sold its German and Austrian insurance division to private equity firm Cinven and reinsurer Hannover. The all-cash deal, which will reap Old Mutual €220m (£181.9m), is part of the group’s bid to slim down its work in Europe and move its focus to faster growing markets overseas. Cinven [...]
Brit insurance targets £1.1bn April flotation March 4, 2014 SPECIALIST insurer Brit’s private equity owners yesterday announced plans to float 25 per cent of the business on the London stock exchange this April. The group, which currently operates in the Lloyd’s market and specialises in casualty, property and energy insurance, will be selling shares held by existing shareholders – including Apollo and CVC – [...]
Lloyds brings in the machines with plan for mini-banks February 20, 2014 LLOYDS is looking at setting up a range of mini-branches across London with fewer staff and more machines, City A.M. understands. The aim is to plugs gaps in the bank’s coverage across the capital, while keeping costs low. It marks a new stage in the banking sector’s plans to cope as branches receive fewer visits [...]
City Moves for 10 March 2014 | Who’s switching jobs March 10, 2014 Shoosmiths The law firm has appointed Amanda Howlett as a partner in its EU and competition team. She specialises in contentious and non-contentious competition law. Howlett was previously head of competition at Pannone. HedgeGuard The asset management technology company has hired Richard Hutton to its family office business. He has over 10 years’ experience, and [...]