Lloyds in red as it takes £4bn hit on insurance protection May 5, 2011 Lloyds bank said it will take a £3.2bn provision to cover it for losses from the mis-selling of protection insurance and suffered another £1.1bn hit in Ireland. The part-nationalised bank said it made the provision against payment protection insurance (PPI) complaints after UK banks last month lost a court case on how policies were sold [...]
The new Lord Mayor’s message for the City November 13, 2011 AS A keen rower since my schooldays, I have a long track record of steering a course through choppy waters. I suspect this may come in useful over the next twelve months. Having taken over as Lord Mayor at a time when the political and economic environment remains turbulent – and popular opinion towards the [...]
Oz entrepreneur sells start-up to WorldPay May 3, 2011 LONDON-based entrepreneur Phil McGriskin (pictured) is set to sell his internet payment business Envoy Services to WorldPay, the global payments provider, in a deal believed to be worth £70m, just five years after launching it. Australian Phil McGriskin, 37, a surfing fanatic who moved to London in 1996, set up Envoy Services in 2006 with [...]
Oz entrepreneur sells start-up to WorldPay May 3, 2011 LONDON-based entrepreneur Phil McGriskin (pictured) is set to sell his internet payment business Envoy Services to WorldPay, the global payments provider, in a deal believed to be worth £70m, just five years after launching it. Australian Phil McGriskin, 37, a surfing fanatic who moved to London in 1996, set up Envoy Services in 2006 with [...]
CITY MOVES | WHO’S SWITCHING JOBS May 8, 2011 Man Group The investment management firm has made two appointments to its board. Emmanuel Roman, chief operating officer, becomes an executive director and Matthew Lester, chief finance officer of the Royal Mail Group, becomes a non-executive director. Roman joined Man as COO following the acquisition of GLG Partners, which he joined in 2005 after 18 [...]
CITY MOVES | WHO’S SWITCHING JOBS May 8, 2011 Man Group The investment management firm has made two appointments to its board. Emmanuel Roman, chief operating officer, becomes an executive director and Matthew Lester, chief finance officer of the Royal Mail Group, becomes a non-executive director. Roman joined Man as COO following the acquisition of GLG Partners, which he joined in 2005 after 18 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 13, 2011 FINANCIAL TIMES PARCOM CAPITAL TO SELL SEE TICKETS FOR £120M See Tickets, one of the largest ticketing companies in Europe, is in the advanced stages of being sold by Dutch investment firm Parcom Capital for between £100m and £120m. The sale, which has reached second round bidding, has attracted interest from a handful of private [...]
18 British banks face debt rating blow April 7, 2011 Up to 18 British banks could see their senior debt ratings cut several notches by Moody’s over coming months as the rating agency assesses how they would fare without implicit government support. The banks more immediately vulnerable to a downgrade are smaller institutions, including many building societies, rather than larger banks still heavily supported by [...]
CITY MOVES | WHO’S SWITCHING JOBS May 5, 2011 Norton Rose The law firm has appointed renewable energy finance specialist Antje Günther as a partner in the firm’s Frankfurt office. Günther, who joins from DLA Piper, where she has worked since 2006, represents financial institutions, corporates and funds in domestic and cross-border transactions. Norton Rose opened a third German office in Hamburg on 1 [...]
RISING STAR OF THE YEAR | THE SHORTLIST DAY 2 June 20, 2011 LUCKILY for all of us the City is full of rising stars, people we all think will make it to the top. This year’s selection includes Sam Smith, who has been making waves as head of the small cap broker finnCap. We’ve chosen two high-flying lawyers, one investment analyst and a fast rising star from [...]