Keydata falls into administration June 8, 2009 Investment firm Keydata Services has gone bust, leaving its 85,000 clients uncertain about the future of its £2.8bn of funds. City watchdog the Financial Services Authority (FSA) has placed the firm into administration with Pricewaterhouse-Coopers (PwC). PwC is now hunting for a buyer for the firm’s assets but a liquidation of the company remains a [...]
CITY MOVES WHO’S SWITCHING JOBS June 4, 2009 PricewaterhouseCoopersJonathan Howe, a partner at the accountancy firm, has been appointed market leader of the UK insurance tax practice and a member of the UK insurance leadership team. Howe has 16 years of experience at PwC and will be leading a team of 10 insurance tax specialist partners and directors. He succeeds Anne Hamilton, who [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 1, 2009 FINANCIAL TIMES CANDOVER FACES RUN-OFF IF BUYER CANNOT BE FOUNDCandover faces a crucial month as the ailing private equity group pushes to raise capital and cut costs before a key test of its debt covenants on 30 June. The group needs cash urgently and is considering a range of options, including an outright takeover, selling [...]
F&C adds two heavyweights to its board June 1, 2009 ASSET manager F&C has added a former PricewaterhouseCoopers (PwC) chairman and a former chief executive of rival Henderson to its board, in a bold reshuffle ahead of its shift to corporate independence. The group, currently being demerged from life insurer Friends Provident, named ex-Henderson chief executive Roger Yates as a non-executive director. He will be [...]
Hopes dim for Weavering investors’ cash May 31, 2009 LIQUIDATORS of Weavering Capital’s main hedge fund, at the centre of the UK’s first ever hedge fund fraud probe, have said there is likely to be no money available to return to investors. Experts at accountancy giant PricewaterhouseCoopers (PwC) believe it now looks certain a massive fraud has taken place and the only way investors [...]
JP Morgan rules FTSE broking roost May 31, 2009 JP MORGAN Cazenove continues to dominate the FTSE broking world after gaining four new clients over the second quarter of the year, the latest adviser rankings guide from financial information company Hemscott has shown. JP Morgan Cazenove has a total of 228 clients, up from 224 at the end of the first quarter of 2009. [...]
JP Morgan rules FTSE broking roost May 31, 2009 JP MORGAN Cazenove continues to dominate the FTSE broking world after gaining four new clients over the second quarter of the year, the latest adviser rankings guide from financial information company Hemscott has shown. JP Morgan Cazenove has a total of 228 clients, up from 224 at the end of the first quarter of 2009. [...]
City supports Tory charge May 28, 2009 THE Conservative party has received a ringing endorsement by the City, as the publication of donations to political parties revealed a host of business figures have contributed to Tory coffers in the first quarter of the year. The largest single donor was hedge fund owner and former Man Group chief executive Stanley Fink, who announced [...]
Booker raises profits while PwC decides fate of stake May 28, 2009 CASH-and-carry company Booker Group said yesterday its full-year pre-tax profits soared by 30 per cent, and that it expects to know the future of bankrupt bank Kaupthing’s stake in its business within days. The 22 per cent stake was previously held by Kaupthing Capital Partners but, following an Isle of Man court hearing on Wednesday, [...]
PwC in fight with US firms over Lehman May 26, 2009 THE ADMINISTRATORS of Lehman Brothers in the UK and the US are set to face off in a new row about the details of the former Wall Street giant’s bankruptcy proceedings. US administrators including KPMG and Alavarez & Marsal want the bankruptcy to be managed in a globally co-ordinated fashion, with all creditors subject to [...]