CITY VIEWS: ARE YOU AND YOUR FRIENDS STARTING TO EAT OUT MORE? March 3, 2010 NADEEM HUMDANI | JP MORGAN “I am more keen to go out to higher priced restaurants than I was six to seven months ago ?– the medium priced ones I kept going to anyway. The City is buoyant but not as flush as it was pre-2008 levels. The banker bonus period is back which means [...]
Merrill overtakes UBS in league of the big FTSE 100 brokerships February 28, 2010 DESPITE the fallout from its at times heated takeover by Bank of America, Merrill Lynch has climbed up to second place in the table of biggest advisors to FTSE 100 companies, according to a report due out shortly from Hemscott. Merrill’s elevation comes at the expense of its Swiss rival, UBS, with whom it last [...]
CITY MOVES | WHO’S SWITCHING JOBS March 21, 2010 Prupim Asia The real estate investment company, a joint venture between Prupim UK and Prudential’s Asian fund management business, has appointed Scott Girard as its new chief executive. Girard, currently chief investment officer at the firm, started his career at ANZ Funds Management in Australia before working at a consultancy. He takes over from Alex [...]
Turquoise expands bank share roster March 8, 2010 THE London Stock Exchange (LSE) yesterday sealed a deal with three leading banks to sell a nine per cent stake in Turquoise, the trading platform it bought at the end of last year. Barclays, JP Morgan Cazenove and Nomura have each snapped up three per cent of the venture, which was merged with the LSE’s [...]
JPMorgan set for bonus haul January 10, 2010 JP Morgan Chase is set to defy calls for restraint and pay out record bonuses this week thanks to bumper investment banking profits. The US investment firm is expected to pay compensation of $29bn (£18bn) to its executives when it kicks off the annual banking results season on Friday. The pay-out is expected to be [...]
CITY MOVES | WHO’S SWITCHING JOBS March 1, 2010 BP The oil giant has appointed Ian Davis, the former chairman of consultancy giant McKinsey, as a non-executive director, effective from April. David is currently senior partner of McKinsey, where he has worked for over three decades. He was chairman and worldwide managing director between 2003 and 2009, and prior to that was managing partner [...]
Volkswagen set to raise £4bn March 23, 2010 GERMAN car giant Volkswagen (VW) is issuing 65m new preferred shares, or roughly half of its authorised capital, in a stock offering worth around £4.04bn. Europe’s largest carmaker said yesterday that the pre-placement of the non-voting stock had already begun for institutional investors. Subscriptions for the new shares are expected to run from 31 March [...]
CITY MOVES | WHO’S SWITCHING JOBS March 7, 2010 Santander The Spanish banking group has appointed Damian McGann as head of business development in its corporate banking team. McGann has over 20 years of experience in the sector and joins from Lloyds Banking Group, where he previously headed up substantial businesses in the Midlands and Scotland. He will focus on a range of businesses, [...]
Investec buys up remainder of Rensburg March 30, 2010 SOUTH African bank Investec yesterday said it will stump up a hefty premium to acquire the remainder of Rensburg Sheppards, the fund manager in which it already holds a 47 per cent stake. Investec, which merged its private-client stockbroking business Carr Sheppards Crosthwaite with Rensburg in 2005, will pay 1.63 new shares of its own [...]
CITY MOVES | WHO’S SWITCHING JOBS March 15, 2010 Universal Music Max Hole has been promoted to the position of chief operating officer at Universal Music Group International (UMGI). Hole, who will take up his new role on 1 July, is currently executive vice president of UMGI and president of the group’s Asia Pacific operations. He joined the firm in 1998 from Warner Music [...]