BORIS ATTACKS BANKS IN U-TURN October 19, 2009 BORIS Johnson is prepared to haul bankers into City Hall to berate them over bonuses after he threw away his cheerleader outfit and attacked the City’s culture of “greed”. In a massive U-turn that followed months of outspoken defence of banks and the City, Boris said he would take a harder line with the industry. [...]
BORIS ATTACKS BANKS IN U-TURN October 19, 2009 BORIS Johnson is prepared to haul bankers into City Hall to berate them over bonuses after he threw away his cheerleader outfit and attacked the City’s culture of “greed”. In a massive U-turn that followed months of outspoken defence of banks and the City, Boris said he would take a harder line with the industry. [...]
Levene: stop bashing City September 17, 2009 LLOYD’S of London chairman Lord Levene has launched a fierce defence of the City, after suggestions its size should be curbed following the financial crisis. Speaking at the Lloyd’s City Dinner, Levene last night accused politicians of “pandering to populist outrage” with “knee-jerk reactions”. He said political suggestions the so-called “real economy” is “superior and [...]
Sandler joins Pearl as chair September 24, 2009 PEARL, the insurer founded by pubs-to-pizza entrepreneur Hugh Osmond, has confirmed Northern Rock head Ron Sandler is joining as chairman. The group has taken on Sandler ahead of its planned secondary listing on the London Stock Exchange in the fourth quarter. Sandler was put in charge of failed mortgage lender Northern Rock after it became [...]
TOP BANKER HIRED TO SPLIT UP ROCK October 27, 2009 SENIOR UBS banker Robin Budenberg is set to be named today as the new chief executive of UK Financial Investments (UKFI), the Treasury unit that manages the government’s holdings in UK banks. Budenberg’s first job will be to oversee the break up of Northern Rock into a “good” and a “bad” bank – a plan [...]
TOP BANKER HIRED TO SPLIT UP ROCK October 27, 2009 SENIOR UBS banker Robin Budenberg is set to be named today as the new chief executive of UK Financial Investments (UKFI), the Treasury unit that manages the government’s holdings in UK banks. Budenberg’s first job will be to oversee the break up of Northern Rock into a “good” and a “bad” bank – a plan [...]
Aviva to list in New York October 7, 2009 INSURANCE giant Aviva has announced plans to list on the New York Stock Exchange as it embarks on a drive to raise its profile in the US. The company, the world’s fifth-largest insurer by gross premiums, said it would begin trading on 20 October, just days after it said it would launch a partial initial [...]
TORIES MULL TAX ON BAILED-OUT BANKS October 7, 2009 A TORY government would consider a “windfall” tax on UK banks that have received state support, in an apparent sign of shadow chancellor George Osborne’s willingness to play hardball with the City. One possibility for the tax, currently being discussed at the highest levels within the party, would take the shape of a new accounting [...]
The tributes pour in as City A.M. gets to 1,000 October 22, 2009 GORDON BROWNPrime Minister“Congratulations to City A.M. on reaching a thousand editions. Your paper has kept both Westminster and the City informed at a time of great turbulence in the world economy.” SIR VICTOR BLANKFormer chairman, Lloyds Banking“City A.M. has developed into a quality newspaper which sparks boardroom debate with its insight and analysis. It is [...]
EX-BANKER TRIES HIS LUCK WITH SEX TOYS November 9, 2009 OF ALL the career paths followed by former City types who have lost jobs in the recession, this one really does take the biscuit. Matt Thomas, a former manager in corporate finance at Seymour Pierce, decided to make the most of the opportunity when he was made redundant last November by setting up a joint [...]