CITY MOVES | WHO’S SWITCHING JOBS May 5, 2010 Advent International The private equity firm has hired Kevin Beeston, the outgoing chairman of Serco Group, as an operating partner. Beeston will be tasked with helping Advent identify investment opportunities in the business services sector, and will also continue in his role as chairman of Advent’s portfolio company Domestic & General. He has worked for [...]
CITY MOVES | WHO’S SWITCHING JOBS April 18, 2010 Withers The law firm has appointed Kenneth Mullen as a partner in the firm’s London office, continuing the expansion of the firm’s European commercial practice. Mullen joins from Shepherd and Wedderburn, where he was a partner in the media and technology team in London. He is a specialist in transactional intellectual property, technology and outsourcing, [...]
Babcock seals VT Group deal March 23, 2010 VT GROUP, the engineering services company, is bracing itself for job cuts at its Southampton headquarters after being acquired by Babcock International for £1.3bn yesterday. Chief executive Paul Lester told City A.M. there would be inevitable “casualties” among VT’s head office staff, but redundancies would affect a fraction of the merged group’s 27,000-strong workforce. Job [...]
CITY MOVES | WHO’S SWITCHING JOBS March 16, 2010 Serco Alastair Lyons has been appointed by international services company Serco as non-executive chairman. He joins the board with immediate effect before taking up his new post at the annual meeting on 11 May, when he will succeed Ken Beeston who is retiring. Lyons, 56, has been non-executive chairman of insurer Admiral since 2000 and [...]
Serco profits surge by 30pc February 26, 2010 SUPPORT services firm Serco has posted a 30 per cent profit rise and predicted that the government would outsource more work after the general election. The group made a full-year pre-tax profit of £177.1m, with revenues 27 per cent higher at £3.97bn. Serco hiked its final dividend by a quarter to 6.25p a share while [...]
FTSE rocked as mining shares fall on commodity price drop February 23, 2010 BRITAIN’S top shares shed 0.7 per cent yesterday, tracking early falls on Wall Street and pressured by weaker miners and energy issues as commodity prices fell with a firmer dollar after dull data. At the close, the FTSE 100 was 36.98 points lower at 5,315.09, having hit a one-month high earlier in the session. US [...]
No wonder there is no British Apple January 27, 2010 WHY isn’t there a British Apple? The sight of Steve Jobs standing up again on stage last night to unveil yet another blockbuster – this time, the iPad – is a stark reminder of how bad we have become at creating world-beating corporate giants. We’re still able to create a steady stream of small, successful [...]
CITY MOVES | WHO’S SWITCHING JOBS January 19, 2010 Collins Stewart The investment banking group’s wealth management division has hired Richard Christmas to its new corporate executive and employee trading (CEET) desk. He joins from Credit Suisse, where he worked with Michael Smith, now head of the CEET desk for Collins Stewart, which provides broker services to listed firms, their employees and third-party share [...]
How the Queen of support services wants to turn UK companies green January 6, 2010 GOING GREEN may not be the most original of strategies but that doesn’t make it any less lucrative. So Mitie Ruby McGregor-Smith’s decision to bet the future of her support services giant on cashing in on the trend for all things environmental has gone down well with investors. The FTSE 250 company is still busy [...]
VT is spurned by Mouchel in takeover bid December 14, 2009 MOUCHEL, the highways and government services company, yesterday confirmed it had rejected two takeover approaches from its larger rival VT Group, but said the larger group was still interested in making a deal. Mouchel said the offers, which were understood to have been at around 250p per share, were “wholly inadequate”, undervalued the company, and [...]