Time to call a halt to the reporting season pile-up August 5, 2009 THE blizzard of blue chip companies reporting major results in the past fortnight has turned into an avalanche. Yesterday marked the last of the overwhelming diary days – at least for a while. The respite is a relief for the analysts tasked with producing research notes based on the results, not to mention shareholders and [...]
CITY MOVES WHO’S SWITCHING JOBS July 8, 2009 Collins StewartThe investment banking group has appointed Simon Whittley as an intermediary sales manager to its wealth management division. Whittley will be responsible for increasing referral business from law firms, accountants, independent financial advisers and trust companies. He previously worked at Credit Suisse Private Bank, Arbuthnot Latham Investment Management and Close Wealth Management. HSBCAndrew Keen has [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 18, 2009 FINANCIAL TIMES THOMAS COOK SALE PLANA large part of Arcandor’s 53 per cent stake in Thomas Cook could be sold to institutional investors as early as next month as creditor banks of the insolvent German retailer try to claw back their loans. Two people close to the banking consortium said a share placing “theoretically still [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 19, 2009 FINANCIAL TIMES INVESTCORP REPORTS FIRST LOSSInvestcorp reported its first annual loss in its history after the London and Bahrain-listed investment group suffered big falls on its hedge fund investments and heavy writedowns at its private equity and real estate arms. The company, which made its name investing in retailers Gucci, Tiffany and Saks Fifth Avenue, [...]
Brit launches bid for Chaucer June 22, 2009 LLOYD’S of London insurer Brit Insurance made a £226m all-share offer for smaller rival Chaucer yesterday, forcing private equity group Pamplona to reveal it has built a 7.34 per cent stake in the company. Brit is offering the Chaucer board 0.23 new Brit shares for every Chaucer share. This is a nil-premium offer, meaning it [...]
Brit launches bid for Chaucer June 22, 2009 LLOYD’S of London insurer Brit Insurance made a £226m all-share offer for smaller rival Chaucer yesterday, forcing private equity group Pamplona to reveal it has built a 7.34 per cent stake in the company. Brit is offering the Chaucer board 0.23 new Brit shares for every Chaucer share. This is a nil-premium offer, meaning it [...]
CITY MOVES WHO’S SWITCHING JOBS June 24, 2009 Close BrothersThe financial services group has appointed Sven Guckelberger as a managing director to its corporate finance advisory arm, Close Brothers Corporate Finance, which has recently been sold to Daiwa Securities SMBC Europe. Guckelberger will join the restructuring and debt advisory group. Fenchurch The investment banking boutique has hired Julian Avery as a senior adviser, [...]
CITY MOVES WHO’S SWITCHING JOBS June 30, 2009 TalkTalkThe broadband provider has appointed David Cooper as chief information officer. Cooper will be responsible for the firm’s IT systems and, in particular, will oversee the integration of those systems with Tiscali UK, which it acquired in May for £236m. He previously worked at BT during the 1980s and 1990s, and most recently spent seven [...]
StanChart plumps for John Peace July 2, 2009 EMERGING markets bank Standard Chartered, which has enjoyed healthy revenues and profits, confirmed yesterday it had appointed John Peace as the group’s new chairman with immediate effect. Peace, 60, is set to receive £650,000 a year and a further £500,000 in shares, which will vest over the next three years. He is also chairman of [...]
SLICE OF OLD-BOY STYLE HITS CITY FINE WINING AND DINING CIRCUIT July 8, 2009 NOT so long ago, City types were busy bemoaning the lack of decent restaurants on their patch. But now, just weeks after the Galvin brothers announced they were opening a new pad near Spitalfields market, I hear there’s a new eatery coming to town, courtesy of Simon Parker Bowles, former brother-in-law to Camilla, Duchess of [...]