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 [...]
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 [...]
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 [...]
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 [...]
Reactions to the chancellor’s statement March 19, 2014 THINK TANK’S TAKE Director at the Adam Smith InstituteEamonn Butler The libertarian think tank applauded the freedom granted to pensioners. “At last Britain's private pension savers will be treated like responsible adults. As lifetimes have lengthened and financial uncertainty has abounded, annuity rates have fallen, leaving savers much worse off then they expected. The rule [...]
Investment hits 60-year low as firms hold back on expenditure October 2, 2013 THE UK’s investment dipped to the lowest level seen since in around 60 years during the second quarter of this year, in comparison to the size of the British economy. Despite the apparent beginnings of an economic recovery, business investment is still anaemic. The Office for National Statistics (ONS) referred to “the lowest recorded level [...]