City Moves for 03 September 2013 | Who’s switching jobs September 2, 2013 Quantum Advisory The actuarial and benefits consultancy has announced the appointment of Deon Dreyer as principal investment consultant. Dreyer joins from PwC, where he was an investment director in its pensions risk business. Prior to that, he was a regional head of investment consulting at Aon Hewitt. RBS Alan Ainsbury has been appointed head of [...]
Exclusive: Big banks shoot down Carney’s £90bn loan plan August 29, 2013 THE BIGGEST four banks do not intend to run down their liquidity buffers to increase lending, City A.M. understands, despite Bank of England boss Mark Carney this week cutting the size of the buffers of liquid assets they must hold. The governor believes this could free up £90bn to lend out. However major lenders are expected [...]
City Moves for 30 August 2013 | Who’s switching jobs August 29, 2013 Alvarez & Marsal The professional services firm has announced the appointment of Keith Williamson as head of its global forensic and dispute team in Hong Kong and China. Williamson has over 18 years’ forensic and investigative accounting experience, and specialises in investigations into fraud, corruption and regulatory issues. He joined Alvarez & Marsal in 2011, having previously [...]
London Report: Vodafone talks power rebound for FTSE shares August 29, 2013 BUMPER gains among telecom stocks powered a rebound in UK shares yesterday after Vodafone confirmed it was in talks with Verizon to sell out of its US joint venture. The FTSE 100 closed up 0.82 per cent, or 52.99 points at 6,483.05, bouncing back again after falls over the last two days. Vodafone jumped 8.2 [...]
G4S sells shares to push down £2bn debt pile August 28, 2013 SECURITY group G4S yesterday drew a line under the swashbuckling era of former chief executive Nick Buckles as it announced a series of drastic moves designed to avoid an embarrassing credit rating downgrade. G4S – whose reputation took a battering after it failed to supply enough guards for last year’s Olympic Games – yesterday raised £350m [...]
Best of the brokers for 28 August 2013 August 27, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com UBM UBS upgrades the media group from “hold” to “buy” and moves the firm to its “most preferred” list with a higher target price of 830p. With “portfolio cleanup largely complete”, UBS estimates a possible six per cent organic growth and four per [...]
City Moves for 28 August 2013 | Who’s switching jobs August 27, 2013 Kleinwort Benson The private bank and wealth manager has appointed Joakim Gasslander as senior private banker in its private wealth management team. Based in London, he was previously senior private banker at Lloyds Private Banking. Gasslander has also held roles at Gadd & Co and SEB Private Bank in Stockholm, and has particular experience advising [...]
City Moves for 27 August 2013 | Who’s switching jobs August 26, 2013 Lloyds Bank The bank’s commercial banking arm has announced the appointment of Jacqueline Keogh as director of global trade. Keogh has over 25 years’ experience in the banking industry. She was most recently at Standard Chartered, where she was managing director, and regional head of banks for Europe in its transaction banking division. B Capital [...]
Card firms on hook for £1.3bn mis-selling bill August 22, 2013 THIRTEEN of Britain’s biggest lenders yesterday unveiled plans to repay consumers £1.3bn for mis-selling credit card protection products. Seven million customers bought the products which came from CCP and were sold through high street lenders and retailers. They either provided loss protection already covered by the bank, or were misleadingly advertised. If customers bought card [...]
Manufacturing crunch in China starts to ease August 22, 2013 FACTORY output in China stabilised in August after a sharp fall in June and July, according to an influential industry study published yesterday. An improvement in sentiment will also raise hopes China could be in for a soft landing, easing worries that the its economy might have slowed down sharply and impacted on the global [...]