Sam Torrance: Jon Rahm and Ryan Palmer’s Zurich Classic triumph a heartwarming tale for golf April 29, 2019 Jon Rahm continued his rise at the weekend by winning the Zurich Classic and the heartwarming nature of his victory made it even better. The Zurich Classic has been a team event since 2017 and the format makes it all the more enjoyable, with Rahm winning alongside partner Ryan Palmer in New Orleans. The Spaniard [...]
Scandal-hit Gam funds to be liquidated this summer April 17, 2019 Embattled Swiss asset manager Gam Investments reported net outflows in the first quarter as it confirmed that the liquidation of funds connected to a scandal at the firm would be completed this summer. Net outflows were SFr 2.1bn (£1.6bn) in the first three months of the year, while assets under management increased from SFr 132.2bn [...]
City Moves for 8 April 2019 – Who’s switching jobs at Credit Suisse, IFPI and BNP Paribas? April 8, 2019 Today's City Moves include Credit Suisse, IFPI and BNP Paribas. Credit Suisse Credit Suisse has announced a significant hire to its impact advisory and finance (IAF) department, confirming that Daniel Wild is to take on the newly created role of managing director, global head of environmental, social and governance (ESG) strategy. He joins this role [...]
Inflation edges up from two-year low as food and alcohol prices rise March 20, 2019 The UK inflation rate edged up from two-year lows last month as food and alcohol prices rose. The Consumer Price Index (CPI) 12-month rate was 1.9 per cent in February, up from 1.8 per cent in January, according to the Office for National Statistics (ONS). Read more: UK inflation falls close to a two-year low Rising [...]
London climbs world’s most expensive cities ranking March 19, 2019 London has become a dearer place to live in the last year, causing it to climb eight places in the world’s most expensive city list, according to the latest worldwide cost of living survey. After dropping considerably last year the capital is now the world’s 22nd most expensive city to live in, far behind its [...]
Financial Conduct Authority proposes investment platform exit fee ban March 14, 2019 The City watchdog has proposed banning exit fees on investment platforms as part of a package to improve the switching process for consumers. The Financial Conduct Authority (FCA) also mooted a rule that would allow customers to switch platforms and remain in the same fund without having to sell their investments in a bid to [...]
In for a Penny: Direct Line promotes finance chief to top job February 26, 2019 Insurer Direct Line said today it had appointed its chief financial officer Penny James to succeed Paul Geddes as chief executive with effect from 9 May. James was appointed to Direct Line’s board in November 2017 and became finance boss in March. Previous roles include director of group finance at Prudential, group chief finance officer [...]
City Moves for 26 February – who’s switching jobs at Wesleyan, Clarks and Shard Capital? February 26, 2019 Who’s on the move today? Wesleyan Wesleyan, the specialist financial services mutual for doctors, dentists, lawyers and teachers, has appointed Anne Torry to its board of directors. Anne has more than 20 years’ experience of strategic leadership, working internationally in both the life and savings and general insurance sectors, most recently as chief executive and [...]
Autotech M&A deal value falls to five-year low in second half of 2018 February 20, 2019 Merger and acquisition value in the automotive technology sector hit a five year low in the second half of 2018 as car manufacturers struggled with dwindling demand in China and a global crackdown on emissions. A total of 100 M&A deals were completed in the second half of last year, including Renault, Ford and Volkswagen’s [...]
Swiss Re completes 1bn Swiss franc share buyback ahead of financial results this week February 18, 2019 Swiss Re said today it had completed a 1bn Swiss franc (£771m) share buyback programme, ahead of announcing its 2018 financials this week. The Zurich-based insurer said it had bought 11.2m shares, equivalent to 3.21 per cent of its outstanding shares, at an average price of 89.17 frances per share. Read more: German insurance giant [...]