CITY MOVES | WHO’S SWITCHING JOBS February 17, 2010 HSBC Private Bank The bank has appointed Paul Forshaw as head of real estate fund management. Forshaw was previously part of a team responsible for real estate proprietary investment at failed Icelandic bank Kaupthing, investing joint venture equity in the UK, US and emerging markets. Prior to that, he spent time at property groups Knight [...]
Ocado bullish about spring public listing February 7, 2010 ONLINE grocer Ocado will launch an audacious IPO in May which could value the company at £1.2bn. The firm, which delivers Waitrose food to doorsteps, hopes to raise an initial £160m from the flotation. This will wipe out its £55m debts and provide it with £100m to build a new distribution centre. A source close [...]
CITY MOVES | WHO’S SWITCHING JOBS January 11, 2010 Weir Group Jon Stanton will join the company this Spring as group finance director. Stanton, 42, arrives from Ernst & Young where he has worked since 1988. He has been a partner in the London office since 2001 with responsibility for the audit of several FTSE 100 clients, including Invensys, Hanson and InterContinental Hotels. Stanton [...]
Heavyweights beef up Cowdery buyout vehicle Resolution January 27, 2010 RESOLUTION, the buyout vehicle founded by entrepreneur Clive Cowdery, has taken on former Swiss Re chief Jacques Aigrain, ex-Aviva Spain boss Gerardo Arostegui and Mel Carvill, founder of private equity firm PPF Partners, as independent directors. Aigrain left Swiss Re last year after holding the position of chief executive since 2006. Prior to joining the [...]
… as it lays out plan for orderly redundancies November 29, 2009 JP MORGAN Cazenove has already set out proposals for an orderly redundancy process ahead of the completion of its takeover by JP Morgan early next year, in an attempt to calm jitters among staff fearing for their jobs. The blue-blooded City broker has posted documents on its internal website with details of the procedure, which [...]
CITY VIEWS: WHAT DO YOU THINK THE OUTLOOK IS FOR THE CITY JOBS MARKET? January 20, 2010 STEVE WOODS | TELEREAL TRILLIUM “It depends on what sector you’re in. I’m in IT but being made redundant next week, and for me personally there’s not much out there at the moment. It’s definitely a hirer’s market, and a crowded one at that.” BENNY ZACHARIAH | WEST LB “There are definitely head hunters in [...]
BEST OF THE BROKERS January 20, 2010 CABLE & WIRELESS Citigroup upgrades Cable & Wireless (C&W) to “buy” saying the shares, which underperformed in 2009, are due to be re-rated this year. It expects confidence to improve post the March demerger, which it believes will reveal “hidden value”. “Structural and macro recovery in 2010 should raise confidence that consensus is now at [...]
HEDGE FUND BOSS KICKS UP A STINK FOR KIDS April 6, 2010 AS FAR as creative forays go, they don’t come much stranger – or more hilarious – than the latest venture set up by Eric Rosenfeld, a prominent New York investment manager who spends his days working as president and chief executive of Manhattan-based Crescendo Partners. The Capitalist chances upon a bizarre website launched by Rosenfeld [...]
Consumer giants beat expectations as branded product sales increase January 28, 2010 Procter & Gamble and Colgate-Palmolive boosted sales of their brand name products in the last few months, convincing consumers to spend a little more with a bigger investment in advertising. A tentative recovery in consumer spending helped both consumer goods leaders post better-than-expected results. Profit at P&G, the maker of Tide laundry detergent and Pampers [...]
Osborne set to meet bankers January 18, 2010 BANKING bosses will meet with George Osborne and Boris Johnson this morning to discuss the Tories’ plans for their industry, City A.M. has learnt. City A.M. understands that those in attendance will include Barclays chairman Marcus Agius, president of Bank of America Merrill Lynch Europe Jonathan Moulds, and vice-chairman of Goldman Sachs Michael Sherwood. Executives from [...]