Alliance Boots woos HBOS’s Andy Hornby June 7, 2009 FORMER HBOS chief executive Andy Hornby is poised to become the new chief executive at high street giant Alliance Boot, giving him the chance to restore his reputation. Andy Hornby resigned from HBOS in October 2008, waiving a £1.6m bonus after the bank’s near collapse. Italian billionaire Stefano Pessina has been running Alliance Boots as [...]
CITY MOVES WHO’S SWITCHING JOBS June 21, 2009 FormjetThe alternative software firm has appointed Andrew Monk, the former chief executive of stockbroker Blue Oar, as its new chief executive. Monk previously founded and jointly ran Oriel Securities, which, like Blue Oar, he named after his rowing exploits at Oxford University. Blue Oar has since been rebranded as Astaire under new chief executive Edward [...]
Meet the deal-maker extraordinaire who hopes the crisis will end in 2010 July 26, 2009 It is hard to escape the feeling that Slaughter and May’s Nigel Boardman is ever so slightly bored. Given that he is London’s top mergers and acquisitions (M&A) lawyer, and that we are still in the midst of a bitter recession which has led to a dramatic reduction in deal-making, this is not exactly surprising. [...]
Intermediate Capital in 351m fund raising as it eyes market opportunities July 2, 2009 PRIVATE equity lender Intermediate Capital Group (ICG) said yesterday that it plans to raise £351m to grow the business, boosting its share price by 3.16 per cent to 506p. IPG managing director Tom Atwood said the proceeds of the rights issue will allow the company to capitalise on the investment opportunities in the primary and [...]
BUSINESS OSCARS DO CREDIT CRUNCH CHIC June 17, 2009 IT CERTAINLY doesn’t bode well for a lengthy awards lunch when the presenter himself admits he’s been ordered to “cut back on the gags” because of the economic climate – especially when the ceremony in question is none other than the Thomson Reuters Extel Awards, more commonly known as “the Oscars of the City”. (Practically [...]
Hugh Osmond faced with 200m Pearl share loss May 17, 2009 BUYOUT tycoon Hugh Osmond could lose around £200m on the value of his shares in the insurance giant Pearl as part of its emergency debt restructuring deal. Osmond is nailing down details on a deal, which will see its consortium of bankers, led by Lloyd’s Banking Group, restructure its £3bn debt. A source close to the [...]
Hugh Osmond faced with 200m Pearl share loss May 17, 2009 BUYOUT tycoon Hugh Osmond could lose around £200m on the value of his shares in the insurance giant Pearl as part of its emergency debt restructuring deal. Osmond is nailing down details on a deal, which will see its consortium of bankers, led by Lloyd’s Banking Group, restructure its £3bn debt. A source close to the [...]
CITY MOVES WHO’S SWITCHING JOBS June 4, 2009 PricewaterhouseCoopersJonathan Howe, a partner at the accountancy firm, has been appointed market leader of the UK insurance tax practice and a member of the UK insurance leadership team. Howe has 16 years of experience at PwC and will be leading a team of 10 insurance tax specialist partners and directors. He succeeds Anne Hamilton, who [...]
Amlin snaps up Fortis arm in expansion June 3, 2009 AMLIN, the insurer that trades on the Lloyd’s of London market, said yesterday it wants to raise £76m from markets to fund a buyout of a non-life insurance arm of part-nationalised Dutch bank Fortis. The group said it has struck a €350m (£303m) deal to buy Fortis Corporate Insurance (FCI) from the Dutch government, which [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 4, 2009 FINANCIAL TIMES AQUASCUTUM IN BUY-OUT TALKSAquascutum, the classic British clothing brand, could be sold to the Hong Kong clothier that distributes the label in China and south-east Asia after an offer from the brand’s management to buy the business was rejected at the eleventh hour last week. Japan’s Renown, which bought the British label in [...]