City Moves for 24 November 2015 | Who’s switching jobs November 23, 2015 OCTOPUS INVESTMENTS The fund manager has appointed Tim Lambert as strategic partnerships manager, with an initial focus on the affordable housing sector. He joins from Parallel Capital, which he founded in 2011. Lambert has also worked as head of consulting at Ducalian, and has held roles at Citywise and Akiko. JP MORGAN ASSET MANAGEMENT The [...]
Silverfleet Capital sell Office for £256m to South African retailer Truworths, more than tripling its money November 30, 2015 Office, the shoe shop, has been sold by its private equity owner Silverfleet to Truworths International, a South African fashion retailer for £256m. Silverfleet achieved an impressive 3.4x return on its investment five years ago, in December 2010, when it bought the shoe brand from Sir Tom Hunter, the Scottish entrepreneur and philanthropist, who's behind private equity vehicle West [...]
Steelmaker Caparo set to go into administration, with the loss of 1,800 jobs October 19, 2015 Steelmaker Caparo Industries has gone into administration, PWC has confirmed, as the crisis in the UK's steel sector deepens. Caparo is set to go into administration with the loss of around 1,700 jobs. The news follows the closure of the UK's second largest steelmaker, SSI steelworks in Redcar, which was announced this month. The liquidation will lead to over 2,200 [...]
City A.M. Awards 2015: The City’s top talent comes out to play November 26, 2015 Anyone who’s anyone in London’s corporate jungle came to St Paul’s last night for the sixth City A.M. Awards. The blockbuster black tie-bash was attended by some of the UK’s biggest business icons, from business secretary Sajid Javid to PwC chair Ian Powell, joining together to celebrate the brightest personalities in the financial sector this year. [...]
Why financial markets matter for the real economy January 8, 2016 Much like Jose Mourinho’s second spell at Chelsea, 2015 turned out to be a false dawn for the stock market. After breaking through 7,000 in April, the FTSE 100 ended the year barely over 6,000. The rollercoaster was even bumpier in China, where the market rose by 54 per cent by mid-June, only to lose [...]
Aim awards 2015: Junior market reaches fever pitch at the London Stock Exchange October 9, 2015 Awards season is officially in full swing, and the team behind Aim at the London Stock Exchange sure know how to party. About 1,300 guests from Aim-listed companies, as well as brokers, bankers, analysts, corporate advisers and fund managers descended on Old Billingsgate to celebrate the secondary index’s 20th award ceremony, sponsored by PwC. Fancy [...]
Autumn Statement and Comprehensive Spending Review 2015: Housing set to dominate – as well as what time it starts, how to watch it and what will be in it November 25, 2015 Later today George Osborne will take to the despatch box to give his combined Autumn Statement and Comprehensive Spending Review. George Osborne has already tweeted the front cover of the document, saying it will "deliver economic and national security – the foundations of everything we do". Today's Spending Review will deliver economic and national security – the [...]
Executive pay: FTSE 100 bosses miss out on bonus boost September 6, 2015 More than a third of FTSE 100 chief executives missed out on pay rises this year, according to a PwC report out today. This is up from a quarter of bosses whose pay did not get a lift in 2014. Of those who received a boost, the average increase was three per cent, taking [...]
UK unemployment drops to its lowest rate for over a decade, but earnings growth hits nine-month low January 20, 2016 Pay growth has fallen to a nine-month low, according to figures published this morning. Average weekly earnings not including bonuses rose 1.9 per cent in the three months to November compared with the same period last year, the Office for National Statistics said. It marks a slowdown from two per cent in the three months to October. [...]
Financiers run rings around the capital August 16, 2015 IF THERE is one thing we can take away from this summer, it’s that the City’s bankers and financiers really like running around in circles. Teams from PwC took part in a Pride 10k run in Victoria Park over the weekend, celebrating the new-found diversity in the corporate world. London LGBT running club Frontrunners organised [...]