Three ex-Barclays bankers found guilty of Libor-rigging July 4, 2016 Three more former bankers have been slapped with guilty verdicts for their roles in Libor manipulation, taking the total number of UK convictions to five. Former traders Jay Merchant, 45, and Alex Pabon, 38, and ex-Libor submitter Jonathan Mathew, 35, all stood trial charged with conspiracy to defraud. The prosecution said that the trio of [...]
UK cyber security company Darktrace embarks on funding round to secure $400m valuation April 10, 2016 UK cyber security company Darktrace has turned to Silicon Valley in a bid to secure funding which would see the company valued at $400m (£283.2m). The company, which is headquartered in both Cambridge, UK, and San Francisco, USA, was founded in 2013 by mathematics and computer specialists from the University of Cambridge and intelligence experts from MI5 and GCHQ. [...]
Manufacturers in the south east of England see M&A boom thanks to interest from overseas buyers January 20, 2016 Manufacturers in the south east of England are attracting the attention of overseas investors, sparking a surge in M&A activity. According to figures shown exclusively to City A.M. today by law firm Irwin Mitchell, which were based on analysis of data from Experian, M&A deals in the manufacturing sector grew by five per cent in [...]
Libor scandal: Serious Fraud Office has “serious questions” to ask itself after five of six brokers accused of rigging Libor acquitted on counts of conspiracy to defraud January 28, 2016 Five brokers accused of conspiring with Tom Hayes to fix Libor were acquitted yesterday, dealing a blow to the Serious Fraud Office's clampdown on financial misconduct. A jury at Southwark Crown Court acquitted Colin Goodman and Danny Wilkinson, who both used to work at ICAP, Noel Cryan, formerly of Tullett Prebon, and Terry Farr and James [...]
Northern powerhouse project: Researchers predict widening of North-South economic divide October 5, 2015 Chancellor George Osborne’s plan to create a “northern powerhouse” has been dealt a blow as a new report estimates that the gap between London and the rest of the UK is set to widen. London’s economy is forecast to grow 27 per cent over the next decade, according to a report from law firm Irwin [...]
Landmark ruling means divorce cases can be reopened if husbands lied about their wealth October 14, 2015 A landmark ruling by the Supreme Court has paved the way for divorce settlements to be renegotiated if husbands lie about their wealth. Alison Sharland and Varsha Gohill had argued they had been misled by their former spouses as to the true extent of their wealth when their divorce claims were settled. Their cases are [...]
Round 2: Trial of six brokers accused of Libor rate-rigging begins in London today October 6, 2015 Six brokers accused of Libor rigging will see their trial begin in London today and could face decades in jail as the second instalment of the Serious Fraud Office’s (SFO) war on financial misconduct gets underway. The six brokers – who have worked at ICAP, RP Martin and Tullett Prebon – are charged with [...]
London set to maintain reputation as global divorce capital after landmark ruling October 15, 2015 London is set to maintain its cosy reputation as the divorce capital of the world after yesterday's Supreme Court ruling, which gives divorcees the right to go back to the negotiating table if their ex has lied about or hidden their wealth. The highest court in the land has backed Alison Sharland and Varsha Gohil, [...]
City Moves for 29 July 2015 | Who’s switching jobs July 28, 2015 KPMG Craig Steven-Jennings has been appointed partner in the professional services firm’s enterprise practice. He joins from KPMG’s South African firm and will be based in London. Steven-Jennings first joined its Cape Town office in 1999 and became an audit partner in 2005. Tokio Marine Kiln The insurance provider has promoted Paul Culham to the [...]
City Moves for 17 July 2015 | Who’s switching jobs July 16, 2015 Marketform The Lloyd’s underwriter has announced the appointment of Alistair Marriott as joint deputy head of marine and class underwriter cargo. He joins from QBE, where he was cargo portfolio manager for the past 12 years. Allianz Global Investors The investment management firm has appointed Johnnie Barnett as director of UK institutional business development. He [...]