Credit Suisse in building sale October 18, 2009 Swiss bank Credit Suisse has struck a deal to sell one of its Canary Wharf buildings to a group of investors for £150m. The consortium, which is understood to be led by Monaco-based M1 Real Estate, beat over 25 rival bidders to secure 20 Columbus Courtyard in the Docklands. Credit Suisse is in the process [...]
Songbird wins founder stake September 20, 2009 Canary Wharf founder Paul Reichmann has dumped his stake in Canary Wharf, marking the end of his 22-year chaotic involvement with the Docklands site. Songbird Estates on Friday said that it had upped its shareholding from 60.8 per cent to 69.3 per cent. Reichmann originally owned the stake, but Songbird purchased it from Commerzbank after [...]
Grainger asks for more cash November 5, 2009 GRAINGER joined its property peers yesterday by announcing it will raise £250m in a rights issue to boost its ability to snap up acquisition opportunities. The group, which said it had swung to a £3m pre-tax loss in the year to 30 September, compared to £12m profits the year before, said it will issue 277m [...]
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 [...]
SUITOR LIES IN WAIT AS HOODLESS PLANS FOR A CHANGE OF SCENERY December 17, 2009 THINGS are hotting up over at broker Hoodless Brennan, which I hear is currently in the final throes of negotiating a move from its current Canary Wharf HQ back to the quainter environs of the Square Mile. The brokers at Hoodless, which plans to shack up on Finsbury Pavement some time early next year, are [...]
CITY TYPES FANCY A FLUTTER ON RACE GAME December 6, 2009 AN ENTERPRISING businessman, a barrel-load of twenty quid tickets, the chance to win a lucrative prize of your dreams… sound familiar? It may well do, given ex-Nomura banker Andrew Paul’s recent venture selling tickets for the chance to win his mansion, Aston Martin and power boat, which is now going to be made into a [...]
Qataris make millions from Barclays sale October 20, 2009 GULF state vehicle Qatar Holding yesterday offloaded half of its share warrants in Barclays, netting the bank’s biggest shareholder a fast profit of over £600m. Qatari investors, who still hold a direct shareholding of over seven per cent in Barclays, were issued with the warrants last November at a subscription price of 197.775p, as part [...]
Growing our truly unique readership October 22, 2009 City A.M. is based upon the idea that print remains a competitive and efficient medium, even today. While we are planning exciting developments for our digital offering in the months ahead, we believe a great print product remains the fastest and most efficient way of providing readers with a quick and concise overview of all [...]
NEW SUNDAY TELEGRAPH BUSINESS EDITOR ON STEEP LEARNING CURVE August 20, 2009 AS A replacement for Sky’s newest business recruit Mark Kleinman, a man with one of the fattest contact books in journalism, the appointment of Kamal Ahmed as Sunday Telegraph business editor was never going to sit well with his jilted rivals. Ahmed, currently head of comms at the Equality and Human Rights Commission and a [...]