Governments to retain bank stakes for up to seven years November 11, 2009 GOVERNMENTS around the world will hold on to their stakes in bailed-out banks for an average of five to seven years in order to achieve a profitable exit, a new report has shown. The report, compiled by accountancy firm PricewaterhouseCoopers, said the complexity of individual banks’ situations, difficult market conditions and an unattractive disposal environment [...]
ADMINISTRATORS: THE PWC TEAM HANDLING THE WIND-UP OF LEHMAN BROTHERS May 26, 2009 THE administration process in the UK is being conducted by PricewaterhouseCoopers, whose team is led by the quartet of Tony Lomas, Steven Pearson, Dan Schwarzmann and Mike Jervis. A mammoth taskforce of 250 PwC staff work under the four lead administrators, alongside a further 500 Lehman staff, who are assisting with the process. The PwC [...]
Accountants can save the world, report November 11, 2009 THERE has been no shortage of talk about the forthcoming Copenhagen climate change conference in December, at which presidents and prime ministers will discuss ways to save the world by reducing carbon emissions. Already, many suspect that little will be decided at the meeting. The reality is that if the world is saved, it will [...]
… as the party recruits boffins to advise on regulation in the City October 20, 2009 THE Conservatives have appointed a raft of experts to a working group to advise on the sweeping changes they propose to the tripartite system of financial services regulation. The group includes Carol Sergeant, chief risk officer for Lloyds Banking Group; Jonathan Herbert, a Norton Rose partner; Simon McGuire, ex-vice chairman of investment banking at UBS; [...]
JP Morgan AM puts Thompson in top UK job October 8, 2009 JP MORGAN Asset Management, the two-century old fund manager, has appointed Roger Thompson as head of its UK arm. Thompson has been at the firm for 16 years and is moving up to the top job after serving as chief financial officer of its international business since 2003. A former PricewaterhouseCoopers auditor, who is also [...]
JP Morgan AM puts Thompson in top UK job October 8, 2009 JP MORGAN Asset Management, the two-century old fund manager, has appointed Roger Thompson as head of its UK arm. Thompson has been at the firm for 16 years and is moving up to the top job after serving as chief financial officer of its international business since 2003. A former PricewaterhouseCoopers auditor, who is also [...]
CITY MOVES WHO’S SWITCHING JOBS October 19, 2009 Charles Stanley SecuritiesThe stockbroker has appointed Nick Redfern as head of institutional sales, responsible for small and mid-cap distribution. Redfern started his career at Smith New Court before moving to Dresdner Kleinwort, where he spent six years as a managing director responsible for pan-European emerging company sales. He also worked at Arbuthnot and Oriel Securities, [...]
Why holding its nerve has paid off for Britain’s top accountancy firm September 6, 2009 LOOKING out of the window of his Embankment office, Ian Powell points at the sky above the London Eye. “It’s a bit cloudy,” he says. “But there’s sun on the horizon.” The same could be said of the outlook for PricewaterhouseCoopers, the largest of the “big four” professional services firms, which Powell has chaired since [...]
Why holding its nerve has paid off for Britain’s top accountancy firm September 6, 2009 LOOKING out of the window of his Embankment office, Ian Powell points at the sky above the London Eye. “It’s a bit cloudy,” he says. “But there’s sun on the horizon.” The same could be said of the outlook for PricewaterhouseCoopers, the largest of the “big four” professional services firms, which Powell has chaired since [...]
Standard Life names Nish as its new chief October 19, 2009 STANDARD Life has put an end to months of speculation over who will take over from veteran chief executive Sir Sandy Crombie by naming finance director David Nish as his successor. Nish, 49, had been seen as the most likely candidate to take the job since it emerged that veteran Crombie was to retire from [...]