What the other papers say this morning January 16, 2011 FINANCIAL TIMES RBS DIRECTOR TO STEP DOWN FROM BOARD One of the last Royal Bank of Scotland directors to remain on the bank’s board from the days of Sir Fred goodwin is poised to step down from his role. Colin Buchan, 56, a former UBS investment banker who until recently was chairman of RBS’s remuneration [...]
Lords told big four auditors pose systemic risk to British economy November 2, 2010 THE dominance of the “big four” auditing firms poses a systemic risk, the House of Lords Economic Affairs Committee was told yesterday. Managing partner of auditor BDO Simon Michaels said: “If one of the big four were to exit the market, without a plan B, there could be chaos.” The lords were asking about the [...]
Pace of staff recruitment slows down November 2, 2010 STAFF appointments rose at the weakest rate for 14 months in October, with the pace of recruitment slowing in both permanent and temporary staff placings. The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs – published today – found overall demand for staff was reported to have increased at the weakest rate for [...]
UK taxes near top in Europe October 5, 2010 THE UK has become the fourth most highly taxed country in the whole of Europe, a report revealed yesterday while also warning there could be an exodus of high earners from the City. KPMG’s annual individual income tax and social security rate survey showed the introduction of the 50 per cent rate of tax was [...]
CITY MOVES | WHO’S SWITCHING JOBS November 1, 2010 RBC Capital Markets The corporate and investment bank has hired Mark Sartori as head of European trading and sales trading, and Calum MacInnes as head of European sales. Sartori, pictured, was most recently at Macquarie Securities, where he was head of financial institutions. He has also worked at Fox-Pitt Kelton, Cazenove and Credit Suisse. MacInnes [...]
CITY MOVES | WHO’S SWITCHING JOBS November 1, 2010 RBC Capital Markets The corporate and investment bank has hired Mark Sartori as head of European trading and sales trading, and Calum MacInnes as head of European sales. Sartori, pictured, was most recently at Macquarie Securities, where he was head of financial institutions. He has also worked at Fox-Pitt Kelton, Cazenove and Credit Suisse. MacInnes [...]
Big Four set to face the Lords October 17, 2010 THE HEADS of the Big Four auditors are likely to face an influential House of Lords committee next month, in a probe into the lack of competition in the audit market and the role the firms played in the financial crisis. Watchdogs including the Financial Services Council (FRC) have submitted papers to the Lords’ Economic [...]
Single income families take hit on child benefit change October 4, 2010 SINGLE income families will be the hardest hit by the changes to child benefit if their income breaches £44,000, an analysis by KPMG has shown. While the chancellor’s decision to scrap child benefit for higher rate taxpayers only removes the benefit from those who might arguably be able to afford to live without it the [...]
Bidders circle as Pontin’s is placed into adminstration November 14, 2010 THE administrators for Pontin’s plan to take a measured approach to the sale of any assets, believing the business is in a strong position to continue operating. Jane Moriarty, joint administrator and restructuring partner at KPMG, which was appointed administrator to Pontin’s on Friday evening, said she was not looking for a fire sale. The [...]
CITY MOVES | WHO’S SWITCHING JOBS October 14, 2010 BlackRock Ian Winship has moved over from Brevan Howard to join BlackRock’s sterling fundamental fixed income team as a senior portfolio manager. Winship has 21 years of experience in the investment industry, including an 11-year stint at Aberdeen Asset Management as head of global rates and his most recent position at Brevan Howard as head [...]