Who’s switching jobs October 31, 2012 RBC Wealth Management Adam Norris has been appointed senior manager in the wealth management firm’s newly-formed intermediary wealth solutions offering. He joins from HSBC Private Bank, where he focused on Channel Islands-based private clients. Norris has also held roles at Deutsche Bank. MIG Capital Paul Chrimes has been appointed chief operating officer of the trading [...]
Best of the Brokers October 24, 2012 AGGREKO RBC Capital Markets has cut its recommendation on the temporary power supplier to “outperform” from “top pick”, moving its target price to 2,500p from 2,700p, citing “a lack of short-term catalysts.” WPP UBS has slashed its recommendation on the media and advertising giant to “neutral” from “buy”, moving the target price to 875p from [...]
Permira to be new parent of Ancestry.com October 22, 2012 PRIVATE equity group Permira has splashed out $1.6bn (£1bn) on buying US-listed genealogy website operator Ancestry.com. The firm will take Ancestry private at $32 per share, a 10 per cent premium to Friday’s closing price. Ancestry’s chief executive Tim Sullivan and chief financial officer Howard Hochhauser will keep most of their shares in the firm [...]
City Moves | Who’s switching jobs October 21, 2012 KPMG Michael Anderson has been appointed to the newly-created role of head of direct tax litigation at KPMG in the UK. He joins from Dorsey & Whitney, the US law firm, where he was a partner in its tax litigation team. Anderson has specialised in the area for 10 years. RBC Wealth Management The wealth [...]
City Views | Is inflation going to fall back to Earth? October 16, 2012 NAVEEN SHARMA RBC Market conditions are very weak – business is doing poorly – and commodity prices across the world are rising. No one can be absolutely sure, but I think inflation is on its way back up. MOHAMMAD FARHAN KYNETIX Inflation is set to rise, based on rapidly rising fuel and food prices around the [...]
Analyst Views | What were the highlights from Fresnillo’s production update? October 15, 2012 JONATHAN GUY RBC CAPITAL MARKETS The weakness in silver was offset by stronger-than-expected gold production. Annual targets are expected to be met, with gold targets likely to be exceeded, in our view. There was good progress recorded at key development projects as well as with brownfield exploration. CAILEY BARKER NUMIS SECURITIES Another strong quarter with [...]
Who’s switching jobs October 2, 2012 Taylor Wessing Amanda Nelson has been appointed as a partner in the law firm’s private client practice. She joins from Manches, where she was a partner in its private client and international wealth practice. Nelson specialises in tax planning, with a particular emphasis on inheritance and capital gains tax. RBC Capital Markets Frank Garibaldi has [...]
We will soon find out whether America’s recovery is real September 23, 2012 FEDERAL Reserve chief Ben Bernanke took aim at the housing market this month, saying it was one missing piston in the economic engine. The Case-Shiller Home Price Index tomorrow will be the economic equivalent of a peek under the US bonnet at the start of the third quarter, with some wondering if the hum of [...]
City Moves | Who’s switching jobs September 23, 2012 RBC Wealth Management The wealth management division of the Royal Bank of Canada has announced two appointments to the Americas desk of its UK private client wealth management team. Shehreen Quayyum joins as a director from HSBC Private Bank, where she was an associate director in its international team. She has also worked for HSBC [...]
Who’s switching jobs September 12, 2012 Axa UK Yves Masson has been appointed to the position of chief executive of personal direct and partnerships at the UK division of the insurance and asset management group. He has worked at Axa since 1985, and was most recently chief executive of Axa Direct Assurance. Masson has also previously served as chief executive of [...]