City Moves for 13 August – Who’s switching jobs at Circassia, Bank of America Merrill Lynch and RPMI? August 13, 2019 Today’s City Moves includes Circassia, Bank of America Merrill Lynch and RPMI. Circassia Dr Rod Hafner, senior vice president of research and development at Circassia Pharmaceuticals, a specialty biopharmaceutical company focused on respiratory disease, will step down from the board after 11 years as a director. However, Rod will remain part of the senior management [...]
Regional airline FlyBMI owed £37m when it collapsed April 27, 2019 Regional airline Flybmi owed £37m when it collapsed earlier this year, blaming rising fuel and carbon costs and Brexit uncertainty. The airline filed for administration in February and most creditors, including passengers and suppliers, might only receive one per cent of their claims, the BBC reported. Read more: BDO steps in as Flybmi administrator Passengers [...]
City Moves for 12 August – Who’s switching jobs at Autologyx, Diffblue and Troy Asset Management? August 12, 2019 Today’s City Moves includes Autologyx, Diffblue and Troy Asset Management. Autologyx Digital operations platform Autologyx has appointed Sandeep Ram as chief commercial officer to accelerate its expansion. The company has recently secured an additional £1m in funding from its existing investor base. However, with ambitious targets for the next 18 months, Autologyx felt now was [...]
US stock markets hit record highs as Fed chair hints at rate cuts July 10, 2019 Chairman of the US Federal Reserve Jay Powell has boosted the market’s expectations that the first interest rate cut in ten years will come this month with a gloomy testimony to a congressional committee. Read more: Fed holds interest rates but hints at future cuts In a prepared statement Powell said “trade tensions and concerns [...]
City Moves for 8 August – Who’s switching jobs at 11:FS, AlbionVC and Databricks? August 8, 2019 Today’s City Moves includes 11:FS, AlbionVC and Databricks. 11:FS 11:FS, the challenger firm defining and building digitally native financial services through technology, product and design expertise, has announced that Shaun Meadows has joined the firm as chairman. In the newly created role, Shaun will work with the 11:FS board to review company objectives, examine performance [...]
The vote-winning power of tax cuts November 12, 2019 As theGeneral Election clunks into gear, it’s already clear what Labour’s approach will be: promise to spend literally all the money. The Tories put out a dossier at the weekend costing the opposition’s pledges at a jaw-dropping £1.2 trillion. You can quibble with the detail, but it’s pretty clear that under John McDonnell’s guidance, the [...]
Lloyds Banking Group misses profit targets as £650m PPI provisions weigh heavy July 31, 2019 Lloyds Banking Group has undershot analyst profit expectations for the first half, with a £650m provision for payment protection insurance (PPI) pay outs denting its earnings. The bank posted pre-tax profit of £2.9bn, falling short of the analyst consensus of £3.45bn. Read more: Lloyds to pay £140m to settle Standard Life Aberdeen row The bank [...]
City Moves for 26 July – Who’s switching jobs at Investec, FSMB and Smiths Group? July 26, 2019 Today’s City Moves includes Investec, FSMB and Smiths Group. Investec Investec Corporate and Investment Banking has announced the appointment of Ajeeth Narayan as global head of Investec Aviation Finance. Mike Francis will be executive lead of the Aviation Finance franchise, and Celia Britt will become chief operating officer. Ajeeth and Mike were two of the [...]
House of Fraser’s lenders call in advisers EY as high street crisis continues March 24, 2018 House of Fraser has become the latest household name to send out warning signals, as its lenders have appointed EY as advisers to check its ongoing viability as a business. In a year that has already seen the collapse of Toys R Us and Maplins, a syndicate of banks acting as lenders to House of [...]
Rise in customers with multiple current accounts as fintech boom hits high street banks June 3, 2019 An increasing number of Britons now have products from a range of different financial providers, as the rise in fintech has shifted the focus away from traditional high street banks. Research by peer-to-peer lending firm Zopa revealed one in three Brits holds two or more current accounts, an increase of 36 per cent on the [...]