City’s brightest named in legal hot 100 line-up January 28, 2013 SOME of the City’s top lawyers have been named on the industry’s annual Hot 100 list, including the silk helping Guardian Care Homes pursue Barclays for Libor-related mis-selling and the partner leading Co-op through its bid for Lloyds bank branches. The Lawyer magazine’s 2013 list, released yesterday, singles out 100 legal names to watch this [...]
HMV boss vows brand has high street future January 15, 2013 THE BOSS OF HMV said yesterday he was “convinced” the crisis-hit music chain still has a future on the high street, as a number of firms emerged as potential bidders for the company. Deloitte was officially appointed as administrator to HMV yesterday morning, putting 4,123 jobs at its headquarters and 223 stores at risk. But [...]
Quilter bolts on Cheviot Asset Management November 13, 2012 PRIVATE equity owned wealth manager Quilter yesterday confirmed it had bought investment firm Cheviot Asset Management to create one of the biggest independently owned wealth managers in the UK. Quilter, owned by mid market European private equity firm Bridgepoint, will acquire Cheviot using cash provided by Bridgepoint. The amount paid for the firm was not [...]
Invensys offloads rail unit on Siemens in £1.7bn deal November 28, 2012 ENGINEERING group Invensys yesterday shocked the City by securing a £1.7bn sale for its rail business in a deal with German giant Siemens. Invensys shares soared 27 per cent to reach 280p yesterday, giving the group a valuation of roughly £2.3bn, after the firm sold off its rail arm for just £50m less than yesterday [...]
Links inks tie-up as top pay rises December 3, 2012 MAGIC Circle law firm Linklaters announced an exclusive tie-up with South African firm Webber Wentzel yesterday, giving the firm its first local presence on the African continent. The alliance will launch on 1 February next year, and follows a similar deal earlier this year to form ties with Allens Arthur Robinson in Australia. Over the [...]
Hong Kong to crack down on poor share issue prospectuses December 12, 2012 BANKS will face tougher penalties if they put incorrect information in the prospectuses of firms planning to list, under new proposals from the Hong Kong authorities unveiled yesterday. Under new rules “sponsor firms have civil and criminal liability for defective prospectuses,” the Securities and Futures Commission said, concluding its consultation. But the sponsoring bank will [...]
City’s bonuses safe from EU cap for now November 28, 2012 THE EUROPEAN Parliament yesterday postponed its key vote on capping bank bonuses, putting its decision back from December to March as its members (MEPs) try to agree what type of cap to consider. The delay means bonuses are safe for at least another year. MEPs had hoped to approve the cap quickly in a bid [...]
Our City Mo Bro winner revealed December 2, 2012 AT the start of last month, The Capitalist challenged readers to send in their scariest and hairiest upper lip specimens to take part in City A.M’s very own Movember contest. The month is now up and teams from all over the City have embraced the Movember spirit of growth and awareness, sporting all sorts of [...]
Firms hail new watered down approach to EU board quotas November 14, 2012 FIRMS and equality groups yesterday welcomed the European Commission’s decision to water down its quotas plan, saying the voluntary approach was working. The European Commission (EC) decided to scrap its original plan to impose 40 per cent quotas on firms, replacing it with a 40 per cent target. The EC will require member states to [...]
City Moves | Who’s switching jobs October 18, 2012 Barclays Mike Rigby has been appointed head of manufacturing, transport and logistics in Barclays’s corporate banking division. He joined the bank in 2008, and was previously corporate director in the manufacturing team. Rigby has also held roles at HSBC. Ernst & Young John Clarke has been appointed partner in the professional services firm’s operational transaction [...]