Barnier leak may hang the Big Four out to dry October 10, 2011 RECENTLY a leaked document from the European Commission’s (EC) Michel Barnier made front pages, including that of City A.M.. The details of what could come to be concrete proposals threaten the Big Four accountancy firms – PwC, KPMG, Deloitte and Ernst & Young. The stakes are high: one of London’s, and the UK’s, most successful [...]
CITY MOVES | WHO’S SWITCHING JOBS September 20, 2011 Wrigley Hamish Thomson has been appointed as general manager for the confectioner’s UK business, replacing Ian Burton, who has been promoted to run Wrigley’s European operations. Thomson, who currently leads Wrigley’s Pacific region, will relocate from Australia to London to take up the role in October. Prior to joining Wrigley in 2005, Thompson spent eight [...]
PROFESSIONAL SERVICES | OF THE YEAR September 21, 2011 IAIN EVANS L.E.K. CONSULTING L.E.K. is a “wonderful British success story”, said the judges – it now competes with McKinsey, Bain and BCG from a standing start in 1983, over-delivering for its growing roster of private equity clients. SHORTLIST KPMG Ernst & Young Deloitte PwC
Only fools rush in where angels fear to invest December 7, 2011 THE government is offering a 50 per cent tax incentive to try to get high rollers to throw their money behind Britain’s most risky businesses. But even those earning enough to benefit from the tax break will mostly conclude that the threat of losing it all would be too great to take. The Seed Enterprise [...]
CITY MOVES | WHO’S SWITCHING JOBS October 6, 2011 Signia Wealth Shalini Khemka has been appointed as a managing director to develop the wealth manager’s private equity arm and expand the business overseas. Khemka will continue as CEO and director of The London Entrepreneurial Exchange, which she co-founded in 2010 while working as an investment banker at LDC, the private equity arm of Lloyds [...]
Guy Hands starts a fresh court salvo to regain EMI September 7, 2011 TERRA Firma chief Guy Hands has launched a second legal attempt to claw music group EMI back from the hands of its lender Citigroup, it emerged yesterday. Hands is understood to have filed a High Court suit against EMI’s adviser PwC to make it produce the evidence it used to propose the pre-pack administration that [...]
Advisory and auditing lift Ernst & Young October 3, 2011 BIG FOUR accountancy firm Ernst & Young will buck the global market downturn this morning as it announces that revenues in its UK business have risen eight per cent since last year, driven by strong performances in its assurance and advisory business. Turnover at the firm hit £1.465bn in the 12 months to 30 June [...]
Deloitte gets a boost from high revenues September 22, 2011 DELOITTE, the world’s largest accounting and consulting firm, said global revenue rose the most in three years in the 2011 fiscal year, helped by double-digit gains in advisory and consulting work. Deloitte’s member firms worldwide reported a record $28.8bn (£18.8bn) in revenue, up 8.4 per cent from 2010. In local currency terms, not accounting for [...]
GENERATION Y DECLARES ITS FINANCE MANIFESTO FOR FUTURE October 24, 2011 THE FINANCIAL services industry should be “a part of society, not apart from it”, said the next generation of City leaders as they set out their plans for righting past wrongs at Whitehall. Politicians and regulators including Conservative MP Matthew Hancock and Prudential’s public affairs director Miles Celic supported TheCityUK-backed group as it launched its [...]
Insurers given deadline delay October 4, 2011 UK insurance companies were yesterday granted more time to change their internal structure ahead of the start of new Solvency II regulation in 2014. The Financial Services Authority pushed back the deadline for insurers to seek its approval for their proposed new internal models from May 2012 to mid-2013. Its decision comes after European regulators [...]