BANKS SET FOR LLOYDS FEES PAYOUT October 12, 2009 Six investment banks stand to split up to £300m in fees if Lloyds Banking Group, led by chief executive Eric Daniels, goes ahead with its proposed £25bn cash call. Swiss bank UBS and BoA Merrill Lynch are set to act as lead underwriters while Citigroup, Goldman Sachs, JP Morgan Cazenove and HSBC will act as [...]
Even in 2010, some gay lawyers say coming out can damage your career January 12, 2010 AN article counselling young gay lawyers on the tricky matters of etiquette for coming out at work includes the following advice: “Do take your significant other to the firm’s Christmas party… probably best to avoid getting heroically drunk and snogging to slow numbers”. Perhaps it’s no surprise that it has proved a controversial New Year [...]
CFOs still trust bankers November 10, 2009 INVESTMENT banks may have lost the trust of their clients, but bankers themselves have managed to maintain client confidence and loyalty, according to a new survey. More than a quarter of chief financial officers, treasurers and mergers and acquisitions bosses quizzed said they had lost trust in the banks, mainly due to fears of insolvency. [...]
Cash rich VT eyes buyout of Mouchel December 13, 2009 VT GROUP, the shipbuilder-turned-support services company, has made two takeover approaches for a rival, it emerged over the weekend, as it shifts focus away from its defence roots. Outsourcing and engineering group Mouchel, whose share price moved massively on Friday after an interim management statement, is thought to have snubbed the secret offers. The move [...]
City unveils new body to promote UK November 16, 2009 SOME of the City’s most senior figures are to join forces on a new unified body aimed at representing the interests of the UK financial services industry on a domestic and international stage. Stuart Popham, senior partner at law firm Clifford Chance, will chair the organisation, to be called TheCityUK. John Ingamells, a former political [...]
How studying Goldman Sachs can help you become a better trader January 24, 2010 LAST week, Goldman Sachs announced profits of more than $13.3bn, even as some of its competitors continue to struggle. So what is the bank doing so right? We look at five ways you can adapt your hedging, research and risk styles to a Goldman style and hopefully boost your revenues. 1. Do your research Goldman’s [...]
Foreign banks sign up to bonus rules October 14, 2009 LONDON’S foreign investment banks yesterday signed up to an agreement to commit to guidelines on pay laid out by the Financial Services Authority and the G20 in a meeting with City minister Lord Myners. The 11 foreign banks will adopt guidelines including deferred bonuses, a higher percentage of payouts paid in shares and clawbacks to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 21, 2009 THE SUNDAY The Sunday Telegraph TEST FOR DEFENCE SPENDING PLEDGE The government’s pledge to direct £900m of defence spending into better equipment for Afghanistan will be tested next month when it announces the replacement for the controversial Snatch Land Rover. The Ministry of Defence (MoD) is understood to be choosing between four vehicles, and industry experts say the [...]
Danish bank announces rights issue in bid to resist having to accept state aid November 1, 2009 DENMARK’S second biggest bank, Jyske Bank, intends to raise nearly 1.2bn Danish crowns (£144m) by issuing new stock to its existing shareholders, it announced yesterday. The bank, which accounts for around seven per cent of the Danish banking market, hopes the rights issue will strengthen its capital base and fend off the need for government [...]
Danish bank announces rights issue in bid to resist having to accept state aid November 1, 2009 DENMARK’S second biggest bank, Jyske Bank, intends to raise nearly 1.2bn Danish crowns (£144m) by issuing new stock to its existing shareholders, it announced yesterday. The bank, which accounts for around seven per cent of the Danish banking market, hopes the rights issue will strengthen its capital base and fend off the need for government [...]