Swiss bank Rahn & Bodmer falls under US tax spotlight September 11, 2013 SWISS private bank Rahn & Bodmer is under investigation by US authorities, it said yesterday, the latest bank to be targeted in a lengthy dispute over tax evasion. The Zurich-based bank, set up as a silk trader in 1750, has come under investigation despite a recent Swiss-US deal to allow some Swiss banks to pay [...]
What the other papers say this morning – 05 September 2013 September 4, 2013 FINANCIAL TIMES Dyson to hire hundreds of recruits Dyson has launched its biggest recruitment drive yet with plans to triple the number of engineers taken on this year in the latest sign of a rebounding British economy. The maker of bagless vacuum cleaners, which employs almost 4,500 across three sites in the UK and Asia, [...]
Zurich chair Ackermann resigns after the death of finance boss August 29, 2013 THE CHAIRMAN of insurance firm Zurich shocked the company by resigning yesterday in the wake of chief financial officer Pierre Wauthier’s apparent suicide. Josef Ackermann has given up all board duties with immediate effect, saying in a statement that “I have reasons to believe that the family is of the opinion that I should take [...]
City Moves for 30 August 2013 | Who’s switching jobs August 29, 2013 Alvarez & Marsal The professional services firm has announced the appointment of Keith Williamson as head of its global forensic and dispute team in Hong Kong and China. Williamson has over 18 years’ forensic and investigative accounting experience, and specialises in investigations into fraud, corruption and regulatory issues. He joined Alvarez & Marsal in 2011, having previously [...]
City Moves for 29 August 2013 | Who’s switching jobs August 28, 2013 Coutts The wealth division of RBS has appointed Donna Burns as managing director and head of human resources. She joins from The Renaissance Group, where she was most recently managing director and global head of human resources. Burns has also held roles at Goldman Sachs. Barclays Corporate & Employer Solutions The division of Barclays Bank [...]
Zurich insurance’s finance chief found dead August 26, 2013 ZURICH Insurance Group said yesterday that its chief financial officer (CFO), Pierre Wauthier, had been found dead at his home. The Swiss insurer said that police were investigating the circumstances of Wauthier’s death, and that no further details had been disclosed. Group controller Vibhu Sharma will replace him as CFO on an interim basis.
Zurich whacked by poor returns on investments August 15, 2013 INSURANCE giant Zurich is likely to miss some of its long-term performance targets, its chief executive admitted yesterday, after being hammered by weak investment returns. Shares in the Swiss company closed down 3.6 per cent after it announced claims from floods in central Europe and tornadoes in the US had cut second quarter profits by a quarter. [...]
The Square Mile sets sail for the Isle of Wight August 6, 2013 GLORIOUS Goodwood, Royal Ascot, Wimbledon and Henley Royal Regatta have all been and gone, so it was off to the Isle of Wight yesterday, for the last of the City summer sporting jollies. Aberdeen Asset Management’s Cowes Week means days of sailing and schmoozing down in the small town of Cowes, with the highlight of [...]
Zurich Insurance chief says low interest rates threaten industry February 24, 2013 THE chief executive of Zurich Insurance has told City A.M. that low interest rates threaten the business model used by the entire the insurance industry. Martin Senn, the global boss of one of the world’s biggest insurers, said poor returns on fixed-rate investments such as bonds are damaging the market: “If you told me these [...]
The ultimate risk-taker eyes growth February 24, 2013 Zurich’s boss tells James Waterson how car insurance can pay if there are no crashes MARTIN Senn seems unusually enthusiastic about the impending destruction of a large part of his business. But the mild-mannered chief executive of Zurich is excited about what a world without car crashes would mean for his company’s motor insurance operations. [...]