Insurer JLT to shun City skyscrapers February 13, 2011 INSURANCE broker Jardine Lloyd Thompson is close to signing for office space in a new development at 80 Fenchurch Street, industry sources have told City A.M. The insurance firm, which is currently based at 6 Crutched Friars, had been linked with flagship City towers including the Cheesegrater, but is now understood to have ruled out [...]
Worries over banks and oil weigh on FTSE February 21, 2011 Nervousness over oil supply as violent crackdowns on protests in Libya continued combined with worries over banks’ liquidity to keep the FTSE in the red today. The FTSE 100 declined from about 9:00am and it finished 1.12 per cent down at 6,014.8. “Only a handful of blue-chips registered a positive change for the day – [...]
CITY MOVES | WHO’S SWITCHING JOBS January 19, 2011 Alvarez & Marshal Alvarez & Marsal, the global professional services firm, is expanding its European real estate advisory business in Europe with the appointment of London-based directors, Patrick Anderson and Caspar Vredenbregt. Anderson and Vredenbregt both have over 12 years of experience in real estate development, investment and finance. Prior to joining A&M, Anderson was [...]
CITY MOVES | WHO’S SWITCHING JOBS January 20, 2011 Lloyds Banking Group Lloyds Bank Corporate Markets has promoted Chris Birt to director in its acquisition finance team in London, reporting to Ian Sale. Birt, 33, has eight years of experience at Lloyds Banking Group after joining the corporate banking graduate scheme and has held his current position since 2006. Chris has led and co-led [...]
Saudi oil pledge fuels FTSE rally February 25, 2011 The FTSE has rallied strongly this afternoon, shaking off the technical glitch that upset morning trading to finish just above the 6,000 level. The FTSE 100 closed up 1.37 per cent at 6,001.2 after oil price fears subsided following a Saudi announcement that it had increased output to make up for any shortages as a [...]
Why premiums will keep falling despite the New Zealand quake February 27, 2011 THE earthquake that devastated Christchurch in New Zealand last week also shattered insurance companies’ hopes of a quieter year for disasters than 2010. The quake, which has claimed more than 100 lives and devastated historic and commercial city centre buildings, may cost the industry $12bn – more than double the $5.5-6bn insured cost of the [...]
RONSON BLAMES TOXIC IRISH BANKING ASSETS March 29, 2011 TO the Dorchester for the annual get-together of the great and the good in the property world, hosted by Gerald Ronson, Heron International’s remarkable boss. The 71-year old property sage and philanthropist, who briefly spent time in jail in the 1990s as a result of the Guinness share scandal, before staging a spectacular personal recovery, [...]
Banks pull FTSE 100 down while resources make gains February 28, 2011 THE FTSE 100 share index fell slightly yesterday as disappointing results from HSBC and Associated British Foods outweighed strength from miners on optimism about the global economy. The blue-chip index ended 7.19 points, or 0.1 per cent lower, at 5,994.01, after it closed 1.4 per cent higher on Friday at 6,001.20, bouncing back after five [...]
Hands bids for insurer Chaucer February 7, 2011 GUY Hands, founder of private equity firm Terra Firma, is in takeover talks with Lloyd’s insurer Chaucer Holdings, sources close to the situation confirmed to City A.M. yesterday. Hands, who was forced to surrender control of record company EMI to its creditor Citigroup last week due to its debt mountain, has approached Chaucer with a [...]
FTSE bounces on commodity rebound as oil price weakens March 3, 2011 A REBOUND by commodity stocks fuelled strong gains by the UK’s top share index yesterday, as oil prices fell back on hopes for a peace deal in Libya, easing concerns over global demand. The FTSE 100 was up 90.20 points or 1.5 per cent at 6,005.09 at the close, ending above the 6,000 level for [...]