City Moves for 06 December 2013 | Who’s switching jobs December 5, 2013 Rowanmoor Group The pensions company has announced the appointment of Alan Godbeer as regional sales manager. He joins from Hornbuckle Mitchell, where he was a trustee consultant. Prior to that, Godbeer held various roles at Legal & General, Zurich Intermediary Group, and Scottish Equitable. Smith & Williamson The investment management and accountancy firm has recruited Michael Pagliari [...]
Reactions to the chancellor’s statement December 5, 2013 THE BUSINESS GROUPDirector general of the CBIJohn Cridland The CBI had lobbied the government to cap business rates at two per cent and support business finance. “We have always advocated the dual approach of tackling the deficit and driving growth – the OBR forecasts confirm it is working. Let’s stick with what works. “The pressure [...]
Zurich shakes up Asia work November 20, 2013 ZURICH Insurance has sold its remaining stake in New China Life Insurance for $943m (£584.7m), as it pushes ahead with an attempt to diversify its Asian portfolio. The Swiss insurer said yesterday it had offered its 292.5m shares in NCI, representing a 9.4 per cent stake, at a fixed price of HK$25.00 each. The price [...]
City Moves for 20 November 2013 | Who’s switching jobs November 19, 2013 Aviva The insurance company has announced the appointment of Colm Holmes as chief financial officer of its UK and Ireland general insurance business. He was most recently at Zurich Insurance Group, where he was group treasurer and head of capital management. UBS Wealth Management The wealth management business has recruited six specialists to its strategic partnership team. [...]
Investigation into Zurich finance chief’s suicide clears Ackermann November 4, 2013 ZURICH Insurance finance chief Pierre Wauthier did not come under “undue pressure” before his suicide, the firm said yesterday, citing results of an investigation into his death that it hopes will wrap up the scandal before earnings next week. The findings of the investigation, initiated and overseen by Switzerland’s financial market watchdog, appear to lift [...]
Catlin tops list of best known underwriters October 7, 2013 CATLIN is the best known underwriter among London insurance brokers, according to research released yesterday. The poll of 450 brokers by consultancy firm Gracechurch also found that being a member of the Lloyd’s of London market is now less important when it comes to insurers engaging with brokers. Insurers that operate outside the Lloyd’s system [...]
Holcim CEO flies austerity style October 2, 2013 Bernard Fontana, chief executive of the worlds largest cement maker Holcim, is leading by example in terms of cost-cutting by flying economy class on short-hall flights. In an interview at Holcim headquarters in Zurich Fontana said: I respect the policy which we set, which is (a flight of) more than five hours is business, less [...]
Taxes paid by Glencore’s chief executive handed on to charity September 22, 2013 VOTERS in a small Swiss town decided yesterday to donate SwFr110,000 (£75,435) of taxes paid by GlencoreXstrata chief executive Ivan Glasenberg to charity in a protest against the commodities giant’s business practices. Voters in Hedingen, a town of around 3,500 inhabitants in the canton of Zurich, backed by 764 to 662 an initiative to donate [...]
City Moves for 20 September 2013 | Who’s switching jobs September 19, 2013 Brown Rudnick The law firm has announced the appointment of Sophie McGrath as a partner in its corporate team. McGrath joins from Morrison & Foerster, where she specialised in the venture capital and private equity sectors, and was responsible for advising on traditional exit strategies. Arbuthnot Latham The private bank has recruited Richard Kay as a [...]
Zurich appoints new chair after death of exec September 11, 2013 ZURICH Insurance yesterday appointed Tom de Swaan to be its chairman, as the company starts rebuilding its board following the death of chief financial officer Pierre Wauthier. Wauthier committed suicide last month, leaving behind a note in which he allegedly blamed Zurich’s ex-chairman Josef Ackermann for putting him under excessive pressure at work. Ackerman resigned [...]