Ollie Phillips: France vs Ireland is the Grand Slam decider February 11, 2022 It’s hard to look at this weekend’s Six Nations match between France and Ireland and not see it as a Grand Slam decider. We may only be in the second round of the championship but if there turns out to be an unbeaten side this year it’ll be the winner of this match. I don’t [...]
City Moves: Who’s switching jobs in the Square Mile today? October 14, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. McDermott Will & Emery Law firm McDermott Will & Emery has poached the new Head of its London Corporate Tax practice from Deloitte. Kevin Cummings makes his return to the legal market after being a Partner at [...]
Action group agrees settlement with Hiscox over business interruption cover June 28, 2021 Members of the Hiscox Action Group have reached a settlement with the insurer relating to business interruption losses suffered as a result of Covid-led lockdowns. The action group said the settlement is in line with the Supreme Court judgment on business interruption clauses, and that both parties were satisfied with the outcome. Both Hiscox and [...]
United Utilities profits dip as lockdowns hit water usage May 27, 2021 United Utilities saw its annual pre-tax profit dip by 21 per cent to £383m as it navigated its way through the pandemic. The company, one of the largest publicly traded water firms in the world, said that profits were hit by lower water consumption and higher infrastructure spending. The drop in profit was in line [...]
City Moves for 10 October – Who’s switching jobs at Ashburton Investments, Pi Labs and Aviva Investors? October 10, 2019 Today’s City Moves includes Ashburton Investments, Pi Labs and Aviva Investors Ashburton Investments Sizwe Nxedlana has been appointed chief executive officer (CEO) of Ashburton Investments, the asset management arm of Firstrand. Sizwe has been with Firstrand for more than a decade, previously as First National Bank’s (FNB) chief economist and most recently as CEO of [...]
RSA Insurance bought for £7.2bn by Canadian and Danish buyers June 1, 2021 A consortium of Canadian and Danish buyers have completed the acquisition of RSA Insurance, in a deal worth £7.2bn. Under the terms of the all-cash deal, Danish buyer Tryg will take over the Swedish and Norwegian arms of RSA, while Canada’s Intact will have the Canadian, British and international businesses. RSA, which owns brands including [...]
HSBC’s long-time Asia boss moves upstairs amid Hong Kong controversy June 12, 2021 Peter Wong, HSBC’s top man in Asia, is stepping away from day-to-day management to take up a position as the bank’s chair in Hong Kong. Wong has been credited with the bank’s rise to become the undisputed financial heavyweight in the region, with the firm booking most of its profits on the continent. Read more: [...]
When it rains, it pours: Storm Christoph strikes up to £120m of insurance damage across the UK January 22, 2021 UK insurance losses could reach up to £120m in the wake of Storm Christoph with Wales hit the hardest, according to a PwC insurance leader. Residents have been forced to leave their homes and a major incident declared in Wales after enduring the highest rainfall of the four UK nations. Around 80 people, including care [...]
Insurance body ABI names Nicky Morgan new chair amid management shake up November 10, 2021 Former MP Nicky Morgan has been appointed as the first independent chair of the Association of British Insurers (ABI), as the trade body overhauls its management. Two more senior appointments were today announced by the ABI, whose members include Aviva and Axa, as part of reforms by the organisation to improve consumer trust in the [...]
Activist investor sells stake in Barclays May 7, 2021 Activist investor Edward Bramson has sold his firm’s 6 per cent stake in Barclays, ending a three-year campaign against the bank. Since 2018, Bramson’s fund, Sherborne Investors, pressured Barclays CEO Jes Staley to scale back investment banking, and demanded his removal over his links to US financier and registered sex offender Jeffrey Epstein, but Bramson struggled [...]