City Moves for 28 October 2009 | Who’s switching jobs October 27, 2009 GAMThe investment management firm has appointed Niall Gallagher as an investment director, effective from 2 November. Gallagher, who will be responsible for managing GAM’s European long-only equity strategies, previously managed pan-European and continental European equities at T. Rowe Price. He also formerly worked at BlackRock for nine years, having begun his career as an economist [...]
Bond says no to M&S role October 1, 2009 ASDA chief executive Andy Bond yesterday ruled himself out of the running for the top job at high street retailer Marks & Spencer (M&S). Bond said: “I am not interested. I am not going to M&S. End of story.” M&S has said it will appoint a new chief executive next year, with Sir Stuart Rose [...]
Look beyond bricks and mortar and invest in the new generation of property funds December 3, 2009 IF YOU don’t want to blow your whole bonus in one go, or you don’t have the appetite for owning a buy-to-let, then there is an alternative: investing in a property fund. A number of new funds have recently launched, designed to capitalise on the steep losses seen across the board in residential and commercial [...]
London set for surge of IPO activity September 28, 2009 THE CITY is gearing up for a return of initial public offering (IPO) activity as a torrent of companies prepare to take the plunge into shareholder ownership, according to Thomson Reuters data. Underscoring the dramatic recovery being staged on equity markets, five IPOs – where firms listed on stock markets – are now on the [...]
London set for surge of IPO activity September 28, 2009 THE CITY is gearing up for a return of initial public offering (IPO) activity as a torrent of companies prepare to take the plunge into shareholder ownership, according to Thomson Reuters data. Underscoring the dramatic recovery being staged on equity markets, five IPOs – where firms listed on stock markets – are now on the [...]
Osborne gets it wrong on cash bonuses October 26, 2009 AS bizarre policies go, the Tories’ latest thinking on bank bonuses takes some beating. For this year only, Britain’s commercial banks will not be allowed to pay more than a trivial bonus in cash – but they will be able to pay as many millions as they want in shares. The rule will only apply [...]
Osborne gets it wrong on cash bonuses October 26, 2009 AS bizarre policies go, the Tories’ latest thinking on bank bonuses takes some beating. For this year only, Britain’s commercial banks will not be allowed to pay more than a trivial bonus in cash – but they will be able to pay as many millions as they want in shares. The rule will only apply [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 21, 2009 FINANCIAL TIMES MACQUARIE MOVING TO DRAPERS GARDENSMacquarie has agreed a deal to occupy one of the largest developments in the City of London, raising expectations of a surprise shortage of new office space in the Square Mile. The Australian financial group will move into the majority of the Drapers Gardens scheme near the Bank of [...]
Why next year will be critical for London’s army of M&A dealmakers October 18, 2009 WHEN Tim Jones, the London managing partner of global law giant Freshfields Bruckhaus Deringer, walks into a room, one is immediately struck by the fact that he still looks every inch the Wales B rugby prop forward he used be. However, as he settles down in one of his firm’s sixth-floor, oak-panelled meeting room, he [...]
Turner warns break-ups to hit stability November 2, 2009 THE forced break up of the “too big to fail” banks into retail and casino institutions would actually increase instability in the financial sector and worsen the economic impact of future banking crises, the City watchdog warned yesterday. Lord Adair Turner, chairman of the Financial Services Authority (FSA), said proposals to separate traditional banking operations [...]