City Moves for 09 December 2013 | Who’s switching jobs December 8, 2013 Lombard The asset finance provider has announced the hire of Lee Simms as head of agriculture. He joined Lombard 10 years ago, and has since held various roles in sales and strategy. JP Morgan Private Bank Faraj Saghri has been named head of the private bank for the UK and Nordics. He has worked at [...]
Deloitte axes 190 HMV jobs January 31, 2013 HMV administrator Deloitte has axed 190 jobs from the business, it announced this afternoon. The redundancies have been made in HMV’s head office and distribution network. No retail jobs have been cut and the stores remain open, Deloitte said today. Giving an update on the potential sale of the business, joint administrator Nick Harding said: [...]
Innovation Diary: Why economic revival has its own challenges for UK entrepreneurs October 6, 2013 FOR BUSINESSES weathering a difficult economy, hoarding cash has been the order of the day. Research by Capita Asset Services found that FTSE 100-listed UK firms increased their cash holdings by 34 per cent in the five years since 2008. But as the economic pendulum swings, investors are grumbling. Apple, which according to Moody’s holds [...]
Accountants relieved as audit shake-up plan watered down October 15, 2013 THE COMPETITION Commission yesterday watered down its audit reforms, pleasing big accountants and their clients but putting itself at odds with tougher reforms looming from the European Union. The Competition Commission now wants FTSE 350 companies to put their book-keeping out to tender at least once a decade, to shake up a market dominated by [...]
KPMG sets up fund to invest in tech firms November 11, 2013 ACCOUNTING giant KPMG is making its first move into investment management by setting up a fund focused on providing early-stage capital to data and analytics firms. KPMG said the London-based fund, named KPMG Capital and not open to outside investors, will acquire and set up partnerships with data companies worldwide. Several offices in the global [...]
City Moves for 20 November 2013 | Who’s switching jobs November 19, 2013 Aviva The insurance company has announced the appointment of Colm Holmes as chief financial officer of its UK and Ireland general insurance business. He was most recently at Zurich Insurance Group, where he was group treasurer and head of capital management. UBS Wealth Management The wealth management business has recruited six specialists to its strategic partnership team. [...]
City Moves for 13 November 2013 | Who’s switching jobs November 12, 2013 Bovill The financial services consultancy has hired Ashley Kovas as head of funds. He was most recently at RBS, where he was head of compliance policy and chaired its group policy forum. Prior to that, Kovas was a director of strategy at the Solicitors Regulation Authority. Altus Partners The executive search company has announced the [...]
Directors see take-home pay fall as bonuses are cut down September 23, 2013 BOSSES’ bonuses fell last year as shareholders took a stronger position on pay and shifted more remuneration towards longer-term incentives, according to a Deloitte report out today. The median bonus payout for executive directors was 67 per cent of the maximum on offer to bosses, down sharply on the 75 per cent in 2011 and [...]
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 [...]