Why slashed interest rates could provide another M&A boost after Brexit August 5, 2016 UK deal activity could be boosted by the Bank of England’s interest rates cut, mergers and acquisitions (M&A) experts have suggested. As well as cutting interest rates from 0.5 to 0.25 per cent on Thursday, the Bank’s monetary policy committee (MPC) also unleashed an extension of quantitative easing which could pump an extra £170bn of newly-printed [...]
Lloyds Bank leads the London financial sector in British LGBT Awards May 15, 2016 Bravo to bankers at Lloyds – the firm has been crowned the top employer for promoting diversity in this year's LGBT Awards. Lloyds Banking Group, which has a professional LGBT Network of over 3000, was named LGBT Network Group of the Year. The bank saw off stiff competition from the likes of Tesco and PwC. Dubbed [...]
Sir Philip Green leadership failure and personal greed led to collapse of BHS, MPs say July 25, 2016 Sir Philip Green is ultimately responsible for the failure of BHS, according to senior MPs who today publish the findings of a parliamentary inquiry in the retailer's collapse. The joint inquiry by the work and pensions select committee and the business, innovation and skills select committee found that Green's family became "incredibly wealthy" during their [...]
City Moves for 29 March 2016 | Who’s switching jobs April 29, 2016 Corinthia London Five-star hotel, Corinthia London, has announced the appointment of Stephane Trycionka, as director of sales & marketing. With 11 years of experience in the luxury hotel industry, Stephane joins from his role as director of sales & marketing at the Hotel Metropole Monte-Carlo in Monaco, where he was responsible for improving the performance [...]
The City of London will prosper in or out of the European Union June 15, 2016 A friend tells me why he is voting Remain. “My wife works for a French bank and they would pull out of London if we left the EU.” That’s fair enough. Assuming the French bank set up in London to access the EU, then it’s logical to assume it would leave after Brexit. But a [...]
City Moves for 6 June 2016 | Who’s switching jobs June 6, 2016 Deloitte Deloitte has announced Matt Ellis as new managing partner for tax in the UK and Switzerland. He takes over from Andy Hodge who led the practice for the past five years and is retiring from the firm. Matt has held a variety of positions in Deloitte, including in regional offices in Southampton and Reading as well as London. Most [...]
Brexit “terrible” for London – but my asset management firm can only benefit July 11, 2016 Christophe Evain, the French chief executive of FTSE 250 alternative asset manager Intermediate Capital Group (ICG), does not hold back when asked for his view on Brexit. “I think that the result is a terrible one,” he says, speaking to City A.M. from his firm’s offices in St Paul’s Churchyard. “I think the impact on [...]
Before the bell: What you need to know before the US market open August 10, 2016 The UK economy is slowing down after its vote to quit the European Union and markets continue to knock on record highs. Here's what you need to know before the US market opens at 2:30pm London time. US markets are pointing up ahead of the open signalling the possibility of further all-time highs. The S&P is [...]
Here’s how much it actually cost TfL to rebrand Crossrail as The Elizabeth Line June 9, 2016 When Transport for London (TfL) announced back in February that it was rebranding Crossrail as The Elizabeth Line, eyes across the capital were rolled. Another lame corporate rebrand, probably costing hundreds of thousands of pounds, right? Wrong, apparently. City Metric, an arm of the New Statesman, submitted a Freedom of Information (FoI) request to find [...]
Merger Monday: Big deal developments spark hopes of M&A pick-up this autumn August 22, 2016 Global deals valued at nearly $65bn (£49.5bn) cleared a series of major hurdles yesterday, amid hopes of a renewed drive in worldwide mergers and acquisitions next month. US pharmaceutical company Pfizer agreed a $14bn deal for San Francisco-based Medivation, which specialises in cancer treatments. It came as a welcome boost to the pharma giant whose [...]