City Moves | Who’s switching Jobs September 24, 2012 Winston & Strawn Michael Madden has been appointed to the role of managing partner in the law firm’s London office. He replaces Thomas Benz. Madden currently leads Winston & Strawn’s commercial litigation presence in London, and he has particular experience in corporate acquisitions and divestitures. Deloitte David Hodgson has been appointed as a healthcare and life [...]
Pay boom over for UK bosses September 20, 2012 SALARIES for Britain’s top bosses are rising at below the rate of inflation and bonuses shrank in the last year, hit by the economic slump and tougher scrutiny of executive pay, according to research out today. The figures from Deloitte show that even FTSE 100 chief executives are feeling the pinch this year, with the [...]
Savers musn’t be harmed by rules designed to help December 16, 2012 IN JUST a few weeks, the UK will see sweeping changes to financial services regulation. The retail distribution review (RDR) comes into force under the stewardship of the new Financial Conduct Authority. By requiring financial advisers to disclose transparently the fees savers pay for advice, RDR aims to help rebuild shattered trust in the financial [...]
Comet’s end shines more light on retail than private equity November 4, 2012 THE looming end of Comet will leave another gaping hole on the high street, and for that reason alone should be lamented. But this is entirely expected, given owner OpCapita was the only firm willing to be Comet’s lender of last resort when it was fighting for survival last year. The price tag of £2 [...]
Comet’s end shines more light on retail than private equity November 4, 2012 THE looming end of Comet will leave another gaping hole on the high street, and for that reason alone should be lamented. But this is entirely expected, given owner OpCapita was the only firm willing to be Comet’s lender of last resort when it was fighting for survival last year. The price tag of £2 [...]
Drinks firm in administration October 2, 2012 DRINKS wholesaler WaverleyTBS has called in administrators, putting 831 jobs into doubt. Waverley, which distributes alcoholic and soft drinks to customers including Merlin Entertainment and Cote Restaurants, has been hit by “tough trading conditions” in pubs and restaurants, according to its private-equity owner Manfield Partners. Deloitte, which has been appointed joint administrator, said it was [...]
Prudential retreats from plan to shift headquarters to Asia October 14, 2012 INSURANCE giant Prudential has abandoned plans to relocate its headquarters from London, it was suggested yesterday. Speculation has raged over the Pru’s intention ever since it was revealed that the firm was looking at redomiciling its corporate HQ to Asia to reduce the impact of the European Union’s forthcoming Solvency II regulations. Following this announcement [...]
Divestments to soar 92pc, says Deloitte February 20, 2012 DIVESTMENTS will rise to a value of £250bn throughout the world in 2012, Deloitte predicted yesterday, as companies spin off non core assets to bolster their balance sheets. The total value of the spin-offs would represent a staggering 92 per cent rise from last year, when the total came to £130bn. “Investor appetite for spin-offs [...]
Banks face five year struggle to deleverage October 10, 2012 BRINGING their debts down to sustainable levels will take big European banks at least five more years, data put out today suggested. Seventy-one per cent of financial institutions surveyed by Deloitte said they expected deleveraging to go on for at least half a decade, with two thirds of respondent banks citing regulator demand as being [...]
Phoenix IT chief and auditors out the door as a sale looms October 4, 2012 PHOENIX IT Group yesterday announced a surprise departure of its chief executive, in a move that was seen as paving the way for a sale of the firm. David Courtley stepped down to make way for the firm’s chairman, IT veteran Peter Bertram, while auditors Deloitte were also sacked after “irregularities” over the company’s accounts [...]