JP Morgan leads in RBS Sempra race January 20, 2010 JPMORGAN Chase is in exclusive talks to buy the RBS Sempra commodities joint venture in a deal expected to be worth about $4bn (£2.5bn). JPMorgan, Deutsche Bank and Australia’s Macquarie had each submitted offers worth nearly $4bn for the RBS Sempra unit by an early January deadline. JPMorgan and Deutsche Bank were seen as the [...]
Daniels quits as Lloyds boss September 20, 2010 LLOYDS Banking Group chief executive Eric Daniels yesterday became the third UK banking boss to quit his position in just two weeks, during a turbulent time at the top of the industry. Lloyds said Daniels would retire in a year’s time, giving it time to conduct a thorough search for his successor both externally and [...]
Daniels quits as Lloyds boss September 20, 2010 LLOYDS Banking Group chief executive Eric Daniels yesterday became the third UK banking boss to quit his position in just two weeks, during a turbulent time at the top of the industry. Lloyds said Daniels would retire in a year’s time, giving it time to conduct a thorough search for his successor both externally and [...]
Three cheers for the stars of the Square Mile October 28, 2010 LAST night was truly an exciting and exceptional occasion: City A.M.’s inaugural awards celebrating the best and brightest of London’s business, financial and investment communities. Our inaugural awards ceremony saw more than 450 guests in their finery roll up at the Grange Hotel at St Pauls. Our winners, unique in that each was initially chosen [...]
CITY MOVES | WHO’S SWITCHING JOBS September 9, 2010 Clifford Chance The law firm said yesterday that Michael Dakin, the chief legal officer at Dubai-based investment firm Future Group, is to rejoin its ranks on the European high-yield team. Dakin left Clifford Chance to join Future in August last year, having been a partner at the law firm for four years. Prior to that, [...]
Pension deficits fall in the FTSE 100 August 8, 2010 THE TOTAL pensions deficit of FTSE 100 companies shrank by £17bn in the last year and now stands at around £73bn, according to research out yesterday. Britain’s largest companies have spent £11.8bn paying down their deficits in the last twelve months, according to figures from Pension Capital Strategies (PCS) and JP Morgan Cazenove. Charles Cowling, [...]
EU wages war on derivatives September 15, 2010 RADICAL curbs on short selling and derivatives trading proposed by the European Commission to bring the multi-trillion dollar industry in from “Wild West territory” were condemned as costly and potentially uncompetitive by hedge funds yesterday. The proposals, released to coincide with the collapse of Lehman Brothers two years ago, require increased disclosure of short selling [...]
BEST OF THE BROKERS July 11, 2010 WILLIAM HILL Bank of America Merrill Lynch (BoAML) has upgraded William Hill to a “buy” rating and said it believes that the stock is high quality and at good value. Strong trends online and improvement in machines are key catalysts for 2010, according to BoAML, which said that execution risk is believed to be low. [...]
BEST OF THE BROKERS July 7, 2010 BMW Barclays Capital reiterates a “strong buy” for BMW, based on its new forecasts. BarCap said that it believes that the luxury market provides a safehaven in the volatile European auto sector, due to its net exports, strong emerging market sales and lack of exposure to scrappage schemes. PERSIMMON JP Morgan Cazenove said that Persimmon [...]
Designing the family business September 30, 2010 DANIEL Taylor used to have a corporate job. In fact, he was the European managing director of a BTR subsidiary for 10 years. “I worked a lot. I missed out on the early years of my first two children.” Taylor says this as he sits in a large executive chair, looking relaxed and cheerful. Taylor [...]