RSM Tenon sold to Baker Tilly in pre-pack deal August 22, 2013 RSM TENON was pushed into administration yesterday as its main lender and eventual buyer Baker Tilly failed to strike a deal for a solvent takeover. The UK’s only listed accountancy firm, which had already warned investors that its shares were worthless, called in Deloitte to arrange the pre-pack administration. Baker Tilly will close its deal [...]
Strong year for recruiters as fee income climbs September 22, 2013 RECRUITERS are reaping the benefits of the UK’s emerging economic recovery, with nearly three quarters of firms reporting increased incomes in the last 12 months. According to the survey, released today by Deloitte and the Association of Professional Staffing companies (APSCo), 72 per cent of professional recruiters have seen their income from fees rise in [...]
Thohir expands sports team portfolio with purchase of majority Inter Milan stake October 15, 2013 Indonesian businessman Erick Thohir has signed an agreement with Inter Milan owner Massimo Moratti to take a controlling stake in the Italian soccer club. Moratti has said that "everything's been signed". After months of negotiation, the addition will be the latest in Thohir's portfolio of sports teams, which includes Major League Soccer club D.C. United, [...]
City Moves for 24 September 2013 | Who’s switching jobs September 23, 2013 Rockspring The property investment company has announced the appointment of David Thomas as European director responsible for its fund accounting team. Thomas was most recently at PwC, where he spent nine years specialising in investment management and real estate. Barclays The bank has recruited Peter Horrell as chief executive of its wealth and investment management [...]
City Moves for 19 September 2013 | Who’s switching jobs September 18, 2013 Baker & McKenzie The law firm has announced the appointment of Paul Hibbert as a partner in its London office. Hibbert specialises in acquisition and leverage finance. He joins from Clifford Chance, where he was a senior associate in its London banking practice. Deutsche Asset & Wealth Management The wealth management business has made two [...]
Consumer sector ready for M&A spree with a £16bn warchest August 13, 2013 BRITAIN’S top 30 consumer firms are sitting on a £16bn warchest, according to research out today by Deloitte, raising the curtain for renewed mergers and acquisition (M&A) activity as confidence returns to the sector. The seven largest listed firms have amassed £13bn alone after rebuilding their balance sheets following the recession and reining back on [...]
Inter Milan bought in £400m takeover by Asian media boss October 15, 2013 INTER Milan have joined the growing number of European clubs owned by overseas multi-sport investors after Indonesian media mogul Erick Thohir yesterday agreed to buy a 70 per cent stake in the Italian outfit. Thohir is also a co-owner of Washington-based Major League Soccer team DC United and basketball’s Philadelphia 76ers. Inter did not disclose [...]
City Moves for 30 August 2013 | Who’s switching jobs August 29, 2013 Alvarez & Marsal The professional services firm has announced the appointment of Keith Williamson as head of its global forensic and dispute team in Hong Kong and China. Williamson has over 18 years’ forensic and investigative accounting experience, and specialises in investigations into fraud, corruption and regulatory issues. He joined Alvarez & Marsal in 2011, having previously [...]
Inside Track: The new issues market hits the first signs of trouble November 14, 2013 WHAT a difference a week makes. Last week I reported on a piece of research from Deloitte, the business advisory firm, on the storming performance of 10 main market flotations in 2013, including Royal Mail obviously, showing how their overall share price performance had outperformed the wider market seven times. This week the talk has [...]
2013 Christmas quiz: Test your knowledge December 19, 2013 Ian Stewart, Deloitte’s chief economist, poses the trickiest economics questions of the year 1. Between spring and autumn 2013, which of these countries received the largest upgrade to its 2013 GDP growth forecast from the IMF? a. Indiab. United Statesc. United Kingdom 2. Which luxury asset class saw the biggest increase in value between 2003 [...]