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 [...]
Bank to boost 5 note circulation December 6, 2009 The Bank of England is ready to press banks to increase the availability of £5 notes in their cash machines after conducting two trial projects. It asked high street bank HSBC and supermarket J Sainsbury to issue more £5 notes, and feedback from HSBC showed the case for stocking cash machine networks with fivers was [...]
Banking bosses divided over Tory plans for sector reform January 19, 2010 BANKING bosses are divided over George Osborne’s plans to overhaul regulation of the industry, City A.M. has learned. The shadow chancellor met twelve banking bosses for lunch yesterday for what one source at the meeting described as a “full and frank” exchange of views. Those in attendance included HSBC chairman Stephen Green, Barclays chairman Marcus [...]
CITY MOVES | WHO’S SWITCHING JOBS February 23, 2010 PVE CAPITAL The investment group has appointed two new members to its team managing the Matrix PVE Global Credit Fund, a hedge fund launched in October last year as a joint venture between PVE Capital and private equity firm Matrix. Elena Ciampichetti joins as head of credit research from Citi, where she was a managing [...]
Global factory output rises as slump ends February 1, 2010 MANUFACTURING activity expanded around the globe last month as economies emerged from recessions In the UK, factory activity expanded at its fastest pace in 15 years in January, according to a survey. The CIPS/Markit manufacturing purchasing managers’ index jumped to 56.7 last month from an upwardly revised 54.6 in December. It was the highest since [...]
Bankers must look hard at pay if they want to win back the public’s support April 14, 2010 JUDGING by public and media sentiment over the past couple of years, the fairground arcade staple of whack-a-mole will at some point be replaced by the sport of whack-a-banker. The credit crunch blame-game does not appear to be dissipating. A particular bone of contention between the banks, politicians and the public is the issue of [...]
CITY MOVES | WHO’S SWITCHING JOBS February 15, 2010 HSBC Private Bank Bassem Snaije has been appointed as head of the London-based Middle East and North Africa (MENA) team at the private bank. Snaije joins from Cosmos Advisors and Pegase Partners Group in Paris, where he was a partner advising on private equity, real estate and M&A deals in the Middle East. He also [...]
Creditors seek to sell off Dubai World loans January 17, 2010 BANK creditors to Dubai World are trying to offload their loans ahead of an expected restructuring of the conglomerate’s $22bn (£13.5bn) debt. It is thought that some of the smaller international banks are keen to reduce their exposure to the debt-laden company quickly. Last week a seller was seeking to offload about $100m of loans, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 25, 2010 FINANCIAL TIMES CHAIRMAN OF HSBC HITS AT BIG BONUSES Stephen Green, chairman of HSBC and British Bankers’ Association, has hit out at the inflated level and distorted structure of bonuses, predicting future pay-outs will be lower and more rationally calculated. In a video interview with the FT, published on the eve of the World Economic [...]
GLIMMERS OF HOPE WITHIN THE UK’S SLUGGISH RECOVERY March 17, 2010 IT seems that every week the UK economy clocks up more evidence of its disappointing recovery from the recession. The spectre of a hung parliament and a mountainous fiscal deficit is only adding to the image of the UK as the sick man of Europe. And the UK does indeed look sick. It can’t even [...]