Pensions deficits set to soar on Solvency II-style EU regulations March 25, 2012 BRITAIN’S largest companies face paying billions more into pension schemes to cover the costs imposed by planned new EU regulations, a study revealed today. The average FTSE100 firm could see its pension liabilities rise by up to £2.5bn, Deloitte said, as three-quarters of those surveyed said gross liabilities will rise by between 20 per cent [...]
Euro’s deluded alchemists were chasing fool’s gold all along June 25, 2012 WHAT is most upsetting about the Eurozone project is that it was based on a giant lie, one all too familiar in other contexts across the wealthy Western world. Europeans were told that they would be able to stay rich without having to work harder or change their ways: the single currency was meant to [...]
CITY MOVES | WHO’S SWITCHING JOBS June 6, 2012 Winston & Strawn Justin McClelland has joined the law firm from Milband as a partner in its global commercial litigation practice. He started his legal career at Slaughter & May, and previously served in Army Legal Services, reaching the rank of lieutenant colonel. He was appointed a Member of the British Empire (MBE) in 1998. PIMCO [...]
CITY MOVES | WHO’S SWITCHING JOBS May 29, 2012 Hermes Fund Managers Saker Nusseibeh has been appointed chief executive of the fund manager. He joined Hermes in 2009 as main board director and head of investment. He has also held senior roles at Trust Company of the West, Societe Generale Asset Management, and latterly Fortis Investments. Nikko Asset Management The Asia-focused asset management firm [...]
Oil firms see slump in market value March 1, 2012 INDEPENDENT oil explorers saw their market value hit last year, a new league table compiled by Deloitte has revealed. The market capitalisation of the UK’s 25 biggest companies in the sector fell from £32.2bn in 2010 to £27.8bn. The fall came as investors shied away from projects viewed as risky amid volatile world markets. However [...]
CITY MOVES | WHO’S SWITCHING JOBS May 21, 2012 DFJ Esprit The cross-stage venture capital firm has appointed Peter Keen as its a new venture partner, specialising in medtech and life science investments. Keen joins with 28 years’ experience in the sector. He was co-founder of Chriscience Group, chief financial officer of Arakis, and is currently non-executive director of Horizon Discovery and Q-Chip. Jefferies [...]
CITY MOVES WHO’S SWITCHING JOBS May 27, 2012 Legal & General Property The institutional property fund manager has made several appointments to its research team. Head of research Rob Martin has been promoted to the board of Legal & General Property. He joined the firm from Hammerson in October 2006. Barbora Melezinkova has been appointed performance analyst. She joins from IPD, where she [...]
Simon Collins wins vote for KPMG chair March 12, 2012 KPMG’s new UK chairman elect Simon Collins yesterday vowed to put his firm at the centre of the debate on how to win back trust in the financial services sector, as he celebrated his election victory against two better known rivals Oliver Tant and Alan Buckle. Collins, who is currently global head of KPMG’s transactions [...]
Simon Collins wins vote for KPMG chair March 12, 2012 KPMG’s new UK chairman elect Simon Collins yesterday vowed to put his firm at the centre of the debate on how to win back trust in the financial services sector, as he celebrated his election victory against two better known rivals Oliver Tant and Alan Buckle. Collins, who is currently global head of KPMG’s transactions [...]
UK finance chiefs: The worst is over April 1, 2012 THE UK’S top finance chiefs no longer expect the country to face a double-dip recession, and are instead advising their firms to expand into an increasingly optimistic landscape, a new survey revealed today. Just 30 per cent of chief financial officers surveyed in Deloitte’s landmark poll now expect a renewed recession, down from 54 per [...]