Lloyds and Barclays facing suit October 6, 2009 Lloyds and Barclays are facing a group legal action from mortgage borrowers who took out shared appreciation mortgages (SAMs) where they released equity from their houses. The High Court has granted an order for the group of more than 300 to sue the banks on the basis the products were unfair.
Lloyds and Barclays facing suit October 6, 2009 Lloyds and Barclays are facing a group legal action from mortgage borrowers who took out shared appreciation mortgages (SAMs) where they released equity from their houses. The High Court has granted an order for the group of more than 300 to sue the banks on the basis the products were unfair.
CITY MOVES WHO’S SWITCHING JOBS October 29, 2009 MarshThe insurance broker and risk adviser has hired Simon Curtis as chief operating officer of its UK operations, based in London. He succeeds Ian Clarke, who continues as a board member and a member of the firm’s international executive group. Curtis joins from Jardine Lloyd Thompson, which he joined in 2000 after its acquisition of [...]
Alpha Bank joins cash call run October 19, 2009 Alpha Bank, Greece’s third largest lender, will issue new shares and repay almost €1bn (£914m) of state support in a move to cut ties with government and resume paying dividends. A three-for-10 rights issue will raise €986m to redeem €940m of preferred shares the bank sold the government earlier this year. The deal is expected [...]
CITY MOVES WHO’S SWITCHING JOBS November 9, 2009 SVG Investment ManagersAdam Steiner has been promoted to chief executive of the investment management firm from his previous position as head of research. Steiner replaces Tony Dalwood, who formerly co-founded the firm’s public equities team with him in 2002 and has now been appointed as chief executive of SVG Advisers and chairman of the SVG [...]
CITY MOVES WHO’S SWITCHING JOBS November 15, 2009 Berrymans Lace MawerThe law firm has hired Chris Fitton to its professional indemnity team as a partner.Fitton joins from rival Pinsent Masons, where he was also a partner and headed up its Birmingham insurance team. He specialises in resolving professional negligence claims against solicitors and financial intermediaries, with clients including Lloyd’s underwriters, composite insurers, IFAs [...]
City Moves for 28 October 2009 | Who’s switching jobs October 27, 2009 GAMThe investment management firm has appointed Niall Gallagher as an investment director, effective from 2 November. Gallagher, who will be responsible for managing GAM’s European long-only equity strategies, previously managed pan-European and continental European equities at T. Rowe Price. He also formerly worked at BlackRock for nine years, having begun his career as an economist [...]
CITY MOVES WHO’S SWITCHING JOBS November 3, 2009 Gleacher ShacklockThe corporate advisory firm has appointed Peter Alcaraz as a senior adviser, effective from next spring.Alcaraz, who will be tasked with helping to develop the firm’s franchise in the services sector, joins from Close Brothers Corporate Finance, where he was most recently a managing director and head of the services sector team. He has [...]
CITY MOVES WHO’S SWITCHING JOBS November 3, 2009 Gleacher ShacklockThe corporate advisory firm has appointed Peter Alcaraz as a senior adviser, effective from next spring.Alcaraz, who will be tasked with helping to develop the firm’s franchise in the services sector, joins from Close Brothers Corporate Finance, where he was most recently a managing director and head of the services sector team. He has [...]
RBS in EC branch sale threat October 14, 2009 EUROPEAN Commission (EC) lawmakers may force Royal Bank of Scotland (RBS) to sell off 312 of its RBS-branded bank branches, under new rules for firms receiving state bailouts. Neelie Kroes, the EC competition commissioner, is considering forcing the bank to slash its small business banking operations by 10 per cent. This would be achieved if [...]