City Moves for 8 September 2016 | Who’s switching jobs September 8, 2016 Colliers International Global real estate advisor Colliers International has appointed Sorcha Murphy to its EMEA corporate solutions team as an associate director. Sorcha joins Colliers from JLL, where she’s spent the past 10 years in their corporate solutions department, working as a portfolio manager on some of their largest corporate accounts. Whilst employed by JLL, Sorcha worked [...]
Sports Direct chairman Keith Hellawell tells City A.M.: “My past is dealing with child murderers, I don’t have a problem saying no in board meetings” September 8, 2016 As Mike Ashley stood sweating under the lights of TV cameras in Sports Direct’s warehouse yesterday, he urged journalists to allow investors some room. Everyone wore high-visibility jackets, but the shareholders were relatively hard to see. The company’s founder had no real intention of listening to investors, though; he was just keen to manage the [...]
When it comes to old boys’ clubs, investment banks are far from the worst. But it may be time to launch a brown shoe revolution September 2, 2016 Footwear is not traditionally a City issue, but in recent months it has become something of a sticking point. First, there was high heels-gate, in which a PwC receptionist was sent home for refusing to wear a heel (PwC has since pointed out, quite reasonably, it had no quarrel with the height of the receptionist’s [...]
Sports Direct and Debenhams will be hardest hit by Brexit, according to Canadian bank RBC – here’s why August 30, 2016 Debenhams and Sports Direct are likely to be two of the retailers hardest hit by Brexit, according to Canadian bank RBC, due to currency pressures and rising costs for the industry. The analysts predicted that disposable income in 2017 would be flat – as compared to growth of around five per cent this year – [...]
Royal Bank of Canada bumps up dividend as income increases August 24, 2016 Royal Bank of Canada (RBC) has today announced a boost to its income, along with a slightly sweeter dividend for its third quarter of its financial year. RBC revealed net income of CA$2.9bn (£1.7bn) for the three months to the end of July, an increase of 17 per cent on CA$2.5bn the year before. Meanwhile, diluted earnings per share were reported [...]
Lloyds Banking Group, HSBC and Royal Bank of Scotland in firing line in Australian rate rigging case brought in the US August 18, 2016 Lloyds Banking Group, HSBC and Royal Bank of Scotland are all in legal hot water after a case was filed in the US against a slew of banks on allegations they rigged a key Australian benchmark rate. The US lawsuit claims the lenders manipulated the bank bill swap rate (BBSW), a benchmark used mainly in Australian [...]
City Moves for 29 July 2016 | Who’s switching jobs July 29, 2016 Gumtree Gumtree, the UK’s largest classifieds website, has recruited Matt Button to the newly created role of head of customer relationship management. Matt will work with the Gumtree marketing team and its agencies to devise and deliver a CRM strategy that acquires and retains customers across all its categories. The strategy will be focused on engaging customers [...]
Profits and shares fall at hedge fund that’s about to lose its Man July 26, 2016 Hedge fund company Man Group today committed itself to the UK as it reported a large drop in profits for the first half of the year. The share price of Man, whose chief executive Manny Roman is leaving for Pimco later this year, dropped around three per cent to 119p on Tuesday morning after the interim results [...]
City Moves for 26 July 2016 | Who’s switching jobs July 26, 2016 Allfunds Bank Allfunds Bank has appointed Nick Emmins to spearhead its new investment research services to UK wealth managers and other third party fund buyers. Until recently Nick was a director at RBC where he helped develop its Luxembourg-based global fund trading platform. In that role he implemented new product capabilities while establishing a fund manager [...]
Lessons from bankrupt footballers: They earn megabucks but are likely to squander it all. What can we learn from their mistakes? July 15, 2016 They earn megabucks but few actually make a decent plan for their post-working lives. While we’re not all multi-millionaires, everyone has something to learn from their mistakes, explains RBC’s Jonathan Gold. Modern football is synonymous with wealth, whether through its astronomical wages or lucrative sponsorship deals. But young players are often making a Faustian bargain [...]