TP Icap told to go back to the drawing board by investors over executive pay plans February 19, 2017 TP Icap's investors have rebuffed an executive pay plan which could have lead to senior executives taking home tens of millions. The newly-merged broker's reward plans would have paid up to £85m in shares over a three-year period, although the scheme would have only started paying out once almost £400m in shareholder value had been made. Although [...]
Firms are wising up on the need to reform executive pay February 16, 2017 To mere mortals, executive pay can sometimes seem out of this world. Gary Cohn, the former Goldman Sachs No2 who is now director of the National Economic Council in the US, was awarded $284m (£227m) by the Wall St bank upon departure. In the UK, the best paid chief executive is WPP’s Sir Martin Sorrell, whose [...]
Make the Thames Estuary a hub for creativity, says Khan February 13, 2017 London mayor, Sadiq Khan, has unveiled his vision for turning the Thames Estuary into a world-class hub for the arts. Included within the mayor’s “vision document” is a theatre complex in Bexley, an experiential arts centre in Woolwich, and a new production facility in Dagenham East that would be the capital’s largest film studios if completed. [...]
Barclays mulls plans to freeze chief executive Jes Staley’s £8m a year pay as investors reach breaking point over bumper deals February 12, 2017 Barclays is considering freezing its chief executive's maximum pay at £8m for the next three years, in a bid to dodge fallout from a potential shareholder spring. According to Sky News, which first reported the story, the chair of the bank's remuneration committee has briefed leading investors on plans to keep salary and incentives for Jes Staley, who [...]
Bosses should speak out on political events February 1, 2017 Business and their top executives are understandably nervous about jumping into political storms. Speaking out during times of unrest holds many risks. People disagreeing with your view are quick to encourage boycotts on social media, while an army of risk-averse corporate PR men and women will warn their bosses of potential harm to a company’s [...]
PwC US chairman reassures staff over Trump travel ban January 31, 2017 The US chairman and senior partner of professional services giant PwC has become one of the latest business names to reassure staff over Donald Trump's travel ban over seven Muslim majority countries. In a message posted on Facebook, Tim Ryan wrote: I want to thank all those who have reached out to me in the [...]
City Moves for 30 January 2017 – who’s switching jobs? January 30, 2017 Today's City Moves cover accounting and business advisory, technology and the world of fine-art financing. Take a look at these movers and shakers: Moore Stephens Damian Ryan has joined top 10 accounting and business advisory group Moore Stephens as a corporate finance partner. Damian has over 10 years of experience in corporate finance in the digital [...]
Ad giant Publicis Groupe has named top boss Maurice Levy’s sucessor January 26, 2017 The French advertising giant Publicis Groupe has named a successor to long-standing top dog Maurice Levy. Arthur Sadoun, a Publicis insider, will take over as chief executive and chairman at the firm from 1 June. He comes from leading the group's creative agencies under Publicis Communications, which include Saatchi & Saatchi and BBH. The nominating committee said there was no [...]
Davos 2017: Who’s at the World Economic Forum and who’s not? Theresa May and Philip Hammond head to Switzerland along with bank bosses and, um, Jamie Oliver January 15, 2017 The great and the good of the global elite will head to the slopes Switzerland this week for the annual World Economic Forum in Davos. From bank bosses to economists, tech stars to politicians – and even a sprinkling of celebrity glitz – the agenda for the 47th meeting may be centred around the concept of [...]
10 years on: How the iPhone changed the world January 9, 2017 The iPhone got off to a subdued start when it was first unveiled by Steve Jobs 10 years ago Today. The decade anniversary of the device feels short and at the same time a lifetime. On 9 January 2007, we had no idea how the pocket sized computer would change our lives and business as [...]