More than half of PE and VC firms have all-white investment teams March 17, 2021 Private equity and VC firms are making great strides with gender diversity but the industry is still significantly lagging on ethnic minority representation, according to new research. Analysis by the British Venture Capital and Private Equity Association (BVCA) and Level 20 reveals all male investment teams have declined from 28 per cent in 2018 to [...]
BT chair Jan du Plessis steps down to ‘focus on other interests’ March 1, 2021 BT chair Jan du Plessis will step down from the board less than four years after joining the telecoms firm. The former Rio Tinto chair joined BT as a non-executive director in June 2017 and was appointed chair that November. Prior to his role at the telecoms giant, du Plessis was chairman of SABMiller when [...]
Astrazeneca shareholders in row over chief executive’s £2.3m bonus hike May 9, 2021 Astrazeneca shareholders have been plunged into a bitter row over plans to hike chief executive Pascal Soriot’s pay by £2.3m. The French pharma boss has been praised for rolling out the company’s Covid-19 vaccine at cost price, as well as driving up its share price since he took over in 2012. But major shareholders have [...]
Green investment surges as UK bosses sound alarm on climate change March 25, 2021 The majority of UK bosses intend to increase their long-term investments in sustainability initiatives as they grow concerned about the impact of climate change. A PwC survey of UK chief executives reveals 70 per cent are concerned about the impact of climate change, with almost a third “extremely concerned” about the issue. But climate change [...]
Insurer RSA posts profit growth ahead of £7.2bn takeover deal February 26, 2021 Insurance group RSA posted a double-digit rise in profit for 2020 ahead of its £7.2bn takeover by a consortium of Canadian and Danish buyers. RSA, which owns brands including More Than, reported operating profit of £751m, up 15 per cent year on year. Group underwriting profit also jumped 36 per cent to a record high [...]
Doceo Insight – The £81bn jackpot and the investment trusts with the biggest shares July 11, 2022 The number 81 will have different meanings for different people. It might be someone’s age or year of birth. Perhaps the last two digits of a credit card pin. For bus goers in the London area, the number 81 will get you from Slough to Hounslow and back again or, if in Merseyside, from Bootle [...]
Zurich and Farmers to buy Metlife property and casualty for $3.9bn December 11, 2020 Zurich Insurance’s subsidiary Farmers Group has agreed to team up with Farmers Exchanges to buy Metlife’s US property and casualty business for $3.94bn (£2.96bn). Zurich will contribute $2.43bn through FGI, while Farmers Exchanges will chip in $1.51bn, Zurich said. “The acquisition significantly increases the potential for growth at the Farmers Exchanges and will further boost [...]
Exclusive: Boris Johnson faces calls from business leaders to commit to net zero financial system April 27, 2021 A group of business leaders have written to Boris Johnson asking him to commit the UK to developing a net zero financial system ahead of this year’s COP26 climate summit. The letter, which has been seen by City A.M., said that such a move would allow the Britain to show off its global leadership before [...]
Business chiefs urge Boris Johnson to speed up return to office review March 5, 2021 The bosses of some of London’s top businesses have urged Boris Johnson to accelerate a review that will determine when people can return to the office. The government is set to carry out a review of Covid safety measures such as one-metre social distancing and mask-wearing that will pave the way for a return to [...]
Loyalty penalty on home and motor insurance to be scrapped May 28, 2021 Renewal quotes for home and motor insurance customers will soon not be more expensive than they would be for new customers, in a bid to tackle loyalty penalties in the insurance sector. Millions of home and motor insurance customers lose out if they renew repeatedly with their current providers, according to the city regulator. In [...]