JOBS of the WEEK March 7, 2012 Senior commercial analyst London £45k-£55k, plus excellent benefits A market-leading leisure firm seeks to fill a core role in analysis of profitability across the business. The ideal applicant is a qualified member of an accounting body. www.cityamcareers.com/job/5636 VP New Business Development Central London £90k-£110k, plus bonus A leading investor services bank is seeking a candidate [...]
Lloyds signs finance chief but job will be left vacant for two months March 1, 2012 LLOYDS Banking Group has clinched new chief financial officer George Culmer, after months of wrangling over his start date and pay package. But the part-nationalised bank will be left without a finance chief for the next two months because Culmer, who stepped down from insurer RSA in November, will not join until the Lloyds shareholder [...]
Claims rise as takings triple for Swiss Re February 23, 2012 SWISS Re bucked the market trend and tripled its profit in 2011, despite a series of natural disasters that severely damaged the insurance industry. The firm beat expectations to record a full-year profit of $2.63bn (£1.68bn), compared with $863m in 2010. Swiss Re also announced plans to raise its dividend and said the current year [...]
Italian police seize $6 trillion of fake US bonds February 17, 2012 Italian police announced today they had seized about $6 trillion (£3.8 trillion) of fake U.S. Treasury bonds in Switzerland, and issued arrest warrants for eight people accused of international fraud and other financial crimes. The operation, co-ordinated by prosecutors from the southern Italian city of Potenza, was carried out by Italian and Swiss authorities after [...]
Italian police seize $6 trillion of fake US bonds February 17, 2012 Italian police announced today they had seized about $6 trillion (£3.8 trillion) of fake U.S. Treasury bonds in Switzerland, and issued arrest warrants for eight people accused of international fraud and other financial crimes. The operation, co-ordinated by prosecutors from the southern Italian city of Potenza, was carried out by Italian and Swiss authorities after [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 16, 2012 FINANCIAL TIMES HEDGE FUND PIONEER BACK FOR ASIA VENTURE William Bollinger, one of the pioneers of London’s hedge fund industry, has come out of retirement to launch a new venture – in Singapore. A protégé of the renowned investor Julian Robertson and a former donor to the Labour party, Mr Bollinger set up Egerton Capital, [...]
Zurich gains despite disaster February 16, 2012 INSURER Zurich Financial took a $1bn hit on natural disasters last year but still plans to pay a bumper dividend after increasing profits by 10 per cent. Overall net income for 2011 amounted to $3.766bn, missing the $4.041bn expected by analysts, but the Swiss firm said it would pay a dividend of SFr17 per share [...]
Suspension for UBS traders on Libor inquest February 15, 2012 A GROUP of senior traders at UBS are the latest to be suspended in connection with a global investigation into whether staff at major US and European banks manipulated Libor, the interbank lending rate which affects $350tn of financial products. Zurich-based Yvan Ducrot and Holger Seger, who both hold senior positions in UBS’s rates businesses, [...]
MEET THE ADVISERS February 14, 2012 Barclays Capital is advising Misys through this deal. The team is led by London frontman Matthew Smith, a former employee of Citigroup and now head of UK M&A at BarCap. Heading the New York team are Lehman Brothers alumni Michael Carter and Erik-Jaap Molenar. JP Morgan Cazenove’s corporate finance managing director Andrew Hodgkin and vice [...]
Zurich clinches top spot as the world’s most expensive city February 14, 2012 ZURICH has leapfrogged ahead of Tokyo in the league table of the world’s most expensive cities after the Swiss franc’s sharp rise and its allure as a safe-haven currency for investors sent the cost of living soaring. The Swiss city, which is now almost 50 per cent more expensive than London, has jumped from fifth [...]