Lloyds hit by investor backlash over executive pay package May 21, 2020 Lloyds was left reeling from a shareholder revolt today after more than a third of investors voted against the bank’s pay policy for top executives. The investor backlash came after influential proxy adviser group ISS recommended voting against the changes to the policy amid concerns it will all but guarantee long-term bonuses. While the rebellion [...]
Vodafone likely to snub the City for Frankfurt in towers business listing June 29, 2020 Vodafone is veering away from the City, and is instead eyeing up Frankfurt for the listing of its multi-billion-pound European towers business, in a move that will further position the firm away from Britain. The telecoms firm last week invited advisers to pitch for a role on the planned flotation of its European tower units, [...]
Government’s digital strategy cannot be a missed opportunity November 12, 2020 Why is there no British tech titan on the scale of Google, Apple or Amazon? This is a question that has exercised the minds of those in and outside of government for some time. Many have concluded that more needs to do done if the UK is ever going to create a $1 trillion home [...]
Beyond Imagination: What’s next for the scandal-hit British chipmaker? October 7, 2020 Imagination Technologies this week confirmed the appointment of telecoms veteran Simon Beresford-Wylie as its next chief executive, marking a new chapter for the British chipmaker. The Hertfordshire-based tech firm has been no stranger to scandal in recent months, with MPs lashing out at the company’s ties to a major investor linked to the Chinese state. [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 2, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Brown Advisory expands London office with senior hires Investment management firm Brown Advisory has bolstered its London office this week with two senior hires as its collection of assets hits $15bn. [...]
MWC 2020 cancelled after coronovirus fears spark mass exodus February 12, 2020 Telecoms extravaganza Mobile World Congress (MWC) has been cancelled after fears over the coronavirus sparked a mass exodus by some of the world’s biggest tech giants. GSMA, which organises the annual conference, today said the outbreak had made it “impossible” for the event to go ahead later this month. “With due regard to the safe [...]
O2 revenue rises for third year running as it beefs up customer base February 20, 2020 O2 has posted its third consecutive year of revenue and profit growth as the mobile network continued to expand its customer numbers. Revenue rose 3.8 per cent to hit £6.2bn in the year to the end of December, while operating income was up 2.3 per cent to £1.9bn. The growth was driven by a continued [...]
Saatchi & Saatchi appoints new chief executive July 1, 2020 London advertising agency Saatchi & Saatchi has appointed Sam Hawkey as its new chief executive, as the firm’s headquarters prepare to reopen after months of lockdown. Hawkey has served as Saatchi & Saatchi’s chief operating officer since 2018, after being promoted from managing director several years earlier. Since joining the firm in 2012, Hawkey’s clients [...]
The City is wise to wince at McDonnell’s statism November 18, 2019 This newspaper has, in the past, given credit to John McDonnell for his honesty and for his openness with the City. We may not have welcomed his ideas, but we’ve often acknowledged that he has at least been upfront about his plans for government and has ventured into City boardrooms to explain his thinking more [...]
BT to shake up executive pay amid shareholder revolt over boss’s bonus December 18, 2018 BT today said it will rethink its executive pay strategy after shareholders fought back at the outgoing chief executive’s £2.3m pay packet. The embattled telecoms group said it was “disappointed” at the results of a vote on its annual remuneration report, which saw 34 per cent of shareholders vote against the proposed pay. Much of [...]