CITY MOVES | WHO’S SWITCHING JOBS August 1, 2012 Freshfields Freshfields Bruckhaus Deringer, the law firm, has appointed David Trott as its new global head of finance. He currently serves as head of its London banking practice, and will replace Alan Newton. Additionally, head of restructuring and insolvency, Ken Baird, will become managing partner of the firm’s London finance practice. Revetas Capital Advisors Ian [...]
ANALYST OF THE YEAR July 31, 2012 TODAY’S shortlists for the third annual City A.M. awards kick off with the five analysts we have shortlisted who epitomise all that is positive about the City. Their independence and capacity to make accurate calls on stock or the wider economy ahead of rivals sets them apart. All have shown an ability to give detailed [...]
Women fall back in KPMG partner race August 16, 2012 KPMG is struggling to find top-class female employees, having included just three women in its latest round of partner promotions, City A.M. has learned. Just one in ten of the 30 staff picked for promotion in October are women, down from one in four a year ago despite efforts at KPMG and across the professional [...]
Lloyds ploughs £20m into new restaurant fund September 3, 2012 LLOYDS Banking Group’s private equity arm said yesterday it has agreed to provide £20m for a new restaurant fund set up by the former boss of The Clapham House Group. Paul Campbell is setting up the fund through his vehicle Hill Capital in partnership with LDC to invest in restaurant businesses with a small number [...]
Our bureaucratic tax system is destroying jobs and growth November 21, 2012 If you are a glass half full type of person, the news that the UK’s tax system is now the 16th “best” in the world, rather the 18th, might be something to rejoice about. I prefer to despair about the complex and arbitrary nature of our tax code, about the fact that we were 11th [...]
Coryton site sold to Shell June 26, 2012 CORYTON refinery, which was formerly run by now insolvent Petroplus, will be turned into a fuel import terminal after administrator PwC agreed to sell the site to the joint venture of Vopak, Shell and Greenergy. PwC said the new owners will now start “significant reconfiguration of the existing site” in Essex. Energy minister Chris Hendry [...]
4G high-speed mobile data to hit UK in 2013 July 24, 2012 TELECOMS regulator Ofcom yesterday said that the auction of licences to run fast 4G mobile networks will be held before the end of this year, enabling services to be rolled out by the middle of 2013. Countries such as the United States already have 4G networks offering high-speed mobile broadband connections capable of data-hungry tasks such [...]
UK firms lose £125bn from poor working capital management June 26, 2012 BRITISH firms have failed to free up £125bn over the last five years due to inefficient working capital management, according to research released today by accountants PwC. PwC found that if all the UK companies currently considered to have bad working capital management achieved the same standards as good performers they could have potentially generated [...]
PWC BOARD PARADE IN PANTOMIME EXECUTION January 29, 2012 IGNORANCE is bliss. Just ask the children at PwC’s performance of Aladdin, who “didn’t have a clue” that the pantomime dames parading in front of them included four of the Big Four firm’s most senior auditors: Richard Oldfield, Richard Sexton, Stephanie Hyde and Kevin Ellis. Far better to focus on the Justin Bieber showtunes, which [...]
PROFESSIONAL SERVICES FIRM OF THE YEAR August 6, 2012 TODAY’s shortlists for the third annual City A.M. awards kick off with our nominations for professional services firm of the year. The UK and EU may be planning significant shake-ups to the industry, but the firms on our shortlist aren’t letting that worry them, continuing to win bluechip clients, pursue global expansion and pioneer employment [...]