CITY MOVES | WHO’S SWITCHING JOBS February 10, 2010 Collins Stewart Christian Redman has joined the investment banking group’s wealth management division, Collins Stewart Wealth Management, as an associate director. Redman joins from Barclays Wealth, where he was responsible for managing over £450m on behalf of private clients across multiple asset classes. He has worked at Gerrard (now part of Barclays Wealth) since 1986, [...]
CITY VIEWS: WHERE DO YOU SEE THE CITY JOBS MArket HEADING? July 6, 2010 DAVID HALE | QBE INSURANCE “I don’t think there are going to be more jobs in the near future. Companies seem to still be making redundancies, and people are just grateful they have a job at all. It’s people coming back in to the jobs market, rather than moving around.” JASON BRUNTON | FRL RECRUITMENT [...]
Banking bulls ought to turn their gaze to Wall Street March 21, 2010 BANKER bashing remains a favourite political pastime – but investors have become a little more upbeat towards the sector, and for good reason. Indeed, a recent global fund mangers survey conducted by Bank of America-Merrill Lynch revealed that banking is no longer the least-liked sector, handing this rather dubious accolade over to utilities. Even the [...]
HSBC director set for £10m pay windfall March 1, 2010 HSBC’s investment banking chief Stuart Gulliver is set to pocket a bumper payout of over £10m, after profits at the global banking and markets arm jumped threefold to $10.48bn (£7bn) during the 2009 financial year. Gulliver, 50, who joined HSBC from university 30 years ago, will receive a bonus of £9m in deferred stock, as [...]
RBS boss Hester to waive £1.6m bonus February 22, 2010 ROYAL Bank of Scotland chief executive Stephen Hester has decided to waive the bumper £1.6m bonus to which he is contractually entitled for this year, amid a fierce torrent of populist anger over remuneration in the banking sector. The news comes after Barclays chief executive John Varley and president Bob Diamond set the bar for [...]
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 [...]
Stellar growth should silence sceptics February 16, 2010 YESTERDAY’S full year results should silence the doubters once and for all. Little over a year after the bank was forced to write to shareholders insisting it was not seeking new capital, and would post better-than-expected profits for 2008, the bank has triumphed again. Group pre-tax profit for 2009 almost doubled to £11.6bn compared to [...]
Gala Coral and creditors close to hammering out deal to ease debt January 18, 2010 GAMBLING group Gala Coral is understood to be days away from a deal to ease its £2.5bn of debts. Gala’s senior lenders — led by Royal Bank of Scotland, Lloyds Banking Group and investment group Alcentra — are in advanced talks with the holders of its £540m mezzanine debt about a debt-for-equity swap. The mezzanine [...]
CAUGHT IN THE THROES OF A NIGHT OF PASSION March 10, 2010 AS AN elite bunch of the City’s most successful ladies and gentlemen left the Mansion House last night after a fundraising “Passion and Performance” evening hosted by Lord Mayor Nick Anstee, they should have been justifiably proud. For between just 320 guests from blue-blooded institutions such as Barclays, Accenture, Linklaters, HSBC, RBS, Lloyds Banking Group, [...]
Banks boost FTSE on hopes that RBS results bring cheer February 24, 2010 BRITAIN’S top shares rose 0.5 per cent yesterday, led by banks and echoing gains on Wall Street as US Federal Reserve chairman Ben Bernanke assuaged fears of an earlier than expected interest rate rise. The FTSE 100 ended 27.83 points higher at 5,342.92 buoyed by the Fed chairman’s statement and after it had closed 0.7 [...]