CITY MOVES | WHO’S SWITCHING JOBS October 21, 2010 Schroders The asset management firm has hired Philippe Lespinard as its new chief investment officer of fixed income, effective from 1 November. Lespinard joins from Brevan Howard in London, where he was a partner and head of absolute return strategies. Prior to that, he was chief investment officer at BNP Paribas Asset Management in Paris. [...]
Thorntons unveils new boss November 3, 2010 CHOCOLATE retailer Thorntons has appointed Caffé Nero managing director Jonathan Hart as its new chief executive. Hart will take up his post on 4 January and will be charged with restoring momentum to the confectioner’s high street operations, which have suffered from falling sales in recent months. During five years with Caffé Nero, he doubled [...]
Thorntons unveils new boss November 3, 2010 CHOCOLATE retailer Thorntons has appointed Caffé Nero managing director Jonathan Hart as its new chief executive. Hart will take up his post on 4 January and will be charged with restoring momentum to the confectioner’s high street operations, which have suffered from falling sales in recent months. During five years with Caffé Nero, he doubled [...]
The pensions chief who says that investors are no longer a soft touch January 23, 2011 It is easy to see why the chairman of the National Association of Pension Funds (NAPF) looks more relaxed these days – this coalition government is less keen on beating shareholders over the head. Lindsay Tomlinson is lounging on a sofa in a bright modern office in the NAPF’s headquarters on Cheapside, opposite the recently-opened [...]
China bid for UB gives Cable a headache September 27, 2010 United Biscuits could be the next iconic British firm to be snapped up by a foreign buyer, posing a fresh problem for embattled business secretary Vince Cable. China’s Bright Food Group has its eye on a $3.2bn (£2bn) bid for the maker of Jaffa Cakes and McVities biscuits. Cable has campaigned for tougher regulation to [...]
Vodafone and National Grid chairs to leave September 5, 2010 SEVERAL blue chip managers are awaiting calls from headhunters as two of the FTSE 100’s best-known chairmen prepare to step down. Vodafone has appointed City recruiter Anna Mann to seek out a replacement for Sir John Bond, who is expected to depart toward the end of next year. Bond, who has chaired the mobile phone [...]
Kraft comes under fresh fire over Cadbury factory closure March 8, 2010 PRESSURE is mounting on Kraft after the Takeover Panel launched an investigation into allegations it misled investors. The panel will begin an investigation into claims the firm promised to keep Cadbury’s Somerdale factory in Keynsham open but reneged on the deal. Kraft repeatedly said it believed Cadbury’s earlier decision to close the plant could be [...]
Kraft finally wins Cadbury February 2, 2010 US food group Kraft has finally swallowed up Dairy Milk chocolate maker Cadbury after investors backed the £11.7bn deal. Shareholders holding nearly 72 per cent of Cadbury’s stock have accepted Kraft’s offer for the 186-year-old company, comfortably exceeding the 50 per cent plus one share it needed to take control. Kraft will be able to [...]
Betfair founders hit jackpot with float September 21, 2010 BETFAIR yesterday announced a stock market listing that is expected to value it at up to £1.5bn, braving an IPO market that sorely bruised Ocado earlier this summer. If successful, the internet betting firm, which has seen a meteoric rise since it was launched a decade ago, would have a higher valuation than gambling stalwarts [...]
Cadbury to delist from stock exchange February 5, 2010 KRAFT Foods has secured 75.41 per cent acceptances from Cadbury Plc shareholders in its takeover of the British confectioner and will now move to delist Cadbury form the London Stock Exchange. Kraft said in a statement that assuming it gets 90 per cent acceptances from Cadbury shareholders it intends to move toward the compulsorily purchase [...]