Barclays ups bonus pool by 10pc in 2013 February 11, 2014 Having said yesterday that profit before tax fell by a third (32 per cent) over 2013 to £5.2bn, Barclays has announced this morning that it upped its bonus pool by 10 per cent to £2.4bn in 2013. Bonuses for investment bankers rose 13 per cent to £1.57bn in the year. Revenue at the investment bank [...]
City Moves for 18 December 2013 | Who’s switching jobs December 17, 2013 Arbuthnot Latham The private bank has appointed Clara Gandelman Vila as a senior private banker in its executives team. She was most recently at UBS Wealth Management, where she was a client adviser in its key clients and high net worth divisions, focusing on UK and international private clients. Debevoise & Plimpton The law firm has recruited Tony [...]
City Moves for 03 December 2013 | Who’s switching jobs December 2, 2013 Holley Holland The consultancy has appointed Alex Cameron as a principal consultant. He has over 25 years’ experience in financial services, qualified as a solicitor at Allen & Overy, and has worked with the Bank of England, Barclays Capital and Barclays Business Banking. Altius Associates The private equity advisory firm has appointed Rhonda Ryan as [...]
City Moves for 09 December 2013 | Who’s switching jobs December 8, 2013 Lombard The asset finance provider has announced the hire of Lee Simms as head of agriculture. He joined Lombard 10 years ago, and has since held various roles in sales and strategy. JP Morgan Private Bank Faraj Saghri has been named head of the private bank for the UK and Nordics. He has worked at [...]
UBS profitability hurt by new investigations October 29, 2013 SWISS bank UBS yesterday revealed it has pushed back its profitability targets because of extra provisions against litigation expenses, which dented its third quarter profits. Regulators in its home country as well as the US and UK are looking at possible foreign exchange manipulation, while the bank is still facing some interest rate benchmark probes [...]
City Moves for 10 September 2013 | Who’s switching jobs September 9, 2013 Mercer The consultancy firm has announced the appointment of Deb Clarke as global head of investment research. Clarke joined Mercer in 2005 from Towers Watson, where she was a senior investment consultant. She was previously a fund manager for 20 years. Schroders Divyesh Hindocha has joined the asset management company as global head of product [...]
Co-op overhaul gives hedge funds control of smaller bank November 4, 2013 CO-OPERATIVE bank bosses yesterday said they had faith that the US hedge funds that now own much of its stock will not destroy the firm’s ethical principles, as they unveiled drastic plans to shrink the lender. The bank, which has been scrambling to fill a £1.5bn black hole, unveiled a radical restructure yesterday to close [...]
Bottom Line: Cost cuts show importance of controlling pay October 29, 2013 WHILE headlines will – quite rightly – focus on the huge litigation charge and poor return on equity that Deutsche Bank revealed yesterday, CEOs Jurgen Fitschen and Anshu Jain were keen to draw attention further down the release – to the cost cutting that helped the bank rack up €1.5bn of savings in the last [...]
City Moves for 30 September 2013 | Who’s switching jobs September 29, 2013 Hausfeld & Co The litigation law firm has appointed Boris Bronfentrinker as partner. He joins from Freshfields Bruckhaus Deringer, where he was a senior lawyer in its cartel defence and commercial disputes practice. Macquarie Securities The institutional equities arm of Macquarie Group has appointed Brandon Krieg as managing director and head of electronic execution in [...]
The year in preview: Our in-depth guide January 5, 2014 City A.M.’s journalists take a wide-ranging look at what 2014 has in store for the world of finance and business BANKINGRestoring faith means costly overhaulsA CAUTIOUS optimism pervades the British and European banking system at the start of 2014. The incoming economic recovery is at last improving customers’ creditworthiness, while the hard work running down [...]