Hammerson offloads £135m Docklands office June 22, 2010 REAL estate investor Hammerson has sold Docklands office block Exchange Tower to MPGA Europe Fund III for £134.6m. The sale represents a 74 per cent return on the £77m Hammerson paid for the 16-storey tower in 1999, on top of annual rents of up to £10.7m over the course of its 11-year ownership. Its main [...]
BARCAP WINS BRAGGING RIGHTS IN A SQUARE MILE RELAY VICTORY September 9, 2010 TO THE heart of London’s financial community last night for one of the most eagerly-anticipated competitive moments of the year – the annual Bloomberg Square Mile Relay. No less than 100 teams of ten runners thronged the streets to take part in the relay, after months of boot camp-style training regimes to win bragging rights [...]
Barclays gets 1bn BGI boost December 1, 2009 BARCLAYS last night cheered a £1.3bn boost from the expected sale of its asset management arm to US fund manager BlackRock, due to a 62 per cent hike in the fund manager’s shares since the deal was struck in June. The bank said it had completed the $15.2bn (£9.1bn) sale of Barclays Global Investors (BGI) [...]
Top economic forecaster Martin Weale to join Bank’s rate-setting committee July 5, 2010 LEADING economist Martin Weale has been appointed as an external member of the?Bank of England’s Monetary Policy Committee (MPC) by chancellor George Osborne. The director of the National Institute for Economic and Social Research (Niesr) will join the MPC in time for the August rate-setting meeting and the forecast round leading up to it, the [...]
Top economic forecaster Martin Weale to join Bank’s rate-setting committee July 5, 2010 LEADING economist Martin Weale has been appointed as an external member of the?Bank of England’s Monetary Policy Committee (MPC) by chancellor George Osborne. The director of the National Institute for Economic and Social Research (Niesr) will join the MPC in time for the August rate-setting meeting and the forecast round leading up to it, the [...]
CITY MOVES | WHO’S SWITCHING JOBS July 22, 2010 DLA PIPER The law firm has poached Stephen Hoyle from Ernst & Young to join its London office as a partner and head of UK tax. Hoyle, a specialist in corporate tax and structured transactions, was a partner at E&Y’s international tax services group. Prior to that, he worked as a managing director in Deutsche [...]
Cowdery takes £2bn AXA rights issue pitch to major shareholders June 15, 2010 RESOLUTION was in talks with its largest shareholders yesterday over the planned £2bn rights issue it will use to part-fund a swoop on AXA’s UK life and pensions business. Insurance entrepreneur Clive Cowdery’s team, led by former Lazard banker Jon Hack, is understood to be discussing a novel underwriting structure with investors including Aviva, Legal [...]
Cowdery takes £2bn AXA rights issue pitch to major shareholders June 15, 2010 RESOLUTION was in talks with its largest shareholders yesterday over the planned £2bn rights issue it will use to part-fund a swoop on AXA’s UK life and pensions business. Insurance entrepreneur Clive Cowdery’s team, led by former Lazard banker Jon Hack, is understood to be discussing a novel underwriting structure with investors including Aviva, Legal [...]
Q&A: EUROPEAN BANK STRESS TESTS July 1, 2010 Q.How will Europe stress test its banks? A.Originally, EU regulators planned to test just 25 large, cross-border banks, including Germany’s Deutsche Bank and Commerzbank, France’s BNP Paribas and Credit Agricole, and Britain’s Royal Bank of Scotland, HSBC, Barclays and Lloyds. Now they’re expected to cover banks holding about half the banking assets in each country. [...]
Q&A: EUROPEAN BANK STRESS TESTS July 1, 2010 Q.How will Europe stress test its banks? A.Originally, EU regulators planned to test just 25 large, cross-border banks, including Germany’s Deutsche Bank and Commerzbank, France’s BNP Paribas and Credit Agricole, and Britain’s Royal Bank of Scotland, HSBC, Barclays and Lloyds. Now they’re expected to cover banks holding about half the banking assets in each country. [...]