CITY MOVES | WHO’S SWITCHING JOBS January 6, 2010 Evolution Securities Garry Levin is to leave his role as managing director in corporate finance at KBC Peel Hunt to join rival Evolution Securities as head of its equity corporate finance division. Levin, 46, will take up his role formally in April 2010. Prior to his position at KBC Peel Hunt, he was joint chief [...]
Defender of business says a hung parliament would be disastrous February 7, 2010 HE MIGHT have parted company with the CBI four years ago, but Lord Digby Jones is still one of the staunchest defenders of the private sector. When he gives me his business card at the opening of a Vodafone store in the City, it is emblazoned with a motto that sums up his philosophy: “Only [...]
Moulton eyes 10 deals for new vehicle December 20, 2009 JON MOULTON is looking closely at the purchase of up to 10 stricken companies, including an automotive parts manufacturer, a building supplies firm and a garden equipment maker. The private equity guru, whose new investment vehicle Better Capital made a successful debut on the stock market last week, told CityA.M. that the rate of companies [...]
New Look hails strong Xmas January 7, 2010 BUDGET fashion chain New Look yesterday said it was undecided on a return to the stock market as it reported strong Christmas trading. Like-for-like sales in the UK grew 5.9 per cent in the 14 weeks to 2 January, while total turnover including overseas operations was up 14.4 per cent. The “disposable fashion” group, backed [...]
Yorkshire and Chelsea warn of job cuts December 2, 2009 THE merger of the Yorkshire and Chelsea building societies will lead to job losses and a £200m writedown on Chelsea’s bad debts, the two firms said yesterday. More than 3,200 staff work for the two societies which will undergo efficiency savings of £35m. The merger was instigated by Yorkshire after Chelsea was hit hard in [...]
Success in Asia is not a given March 1, 2010 BRITAIN’S largest insurer Prudential has sealed a deal to acquire American International Group’s Asian division (AIA) in a takeover that will place it at the heart of the growing Asian insurance market. The £23bn deal will not only give the Pru AIA’s 20m policy holders, but also unparalleled access to young Asian populations that only [...]
Interserve gives a bullish outlook and builds hopes for future contract wins November 16, 2009 Building and maintenance group Interserve said yesterday that trading had been in-line with expectations since the end of June and that it had been included in a scheme that will allow it to bid for £4m-worth of new contracts. The group said that in the first half it had benefited from a “strong performance” in [...]
EX-FAIRFAX CHIEFTAIN MAKES HIS COMEBACK February 14, 2010 MEMBERS of the City’s investment banking community have probably been wondering for months what has become of Adam Hart, the cheery former managing director of Fairfax. Hart left Fairfax last summer and hasn’t been heard from since, apart from a stubborn rumour doing the rounds in the autumn that he was about to join Edward [...]
CITY MOVES | WHO’S SWITCHING JOBS January 17, 2010 Charles Stanley The City stockbroking firm has appointed Andrew Atkins as head of new fund sales and distribution. Atkins joins from Lloyd George Asset Management and will be in charge of distributing the firm’s entire fund range, including the new value boutique Matterley, acquired by Charles Stanley last year. In his new role, he will [...]
FTSE hits lowest level since November on valuation fears January 28, 2010 RENEWED worries about the global economy dragged Britain’s top share index to its lowest close in nearly three months yesterday, with commodity stocks falling sharply and drugmaker AstraZeneca dipping on weak results. The FTSE 100 ended down 1.4 per cent, or 71.73 points, at 5,145.74, its lowest close since 6 November, after the index finished [...]