Lloyds Banking Group to dole out £200m to staff February 18, 2010 LLOYDS Banking Group is set to dish out around £200m to staff in its upcoming annual bonus round, it emerged yesterday. The bonus pool is significantly lower than the pot at Barclays and RBS, due to the fact that most of Lloyds’ 120,000 UK staff work in the retail and commercial bank and earn an [...]
FSA recruits two new female board members March 18, 2010 BAIGRIE Davies director Amanda Davidson and Dame Sandra Dawson, professor of management at Cambridge University have joined the Financial Services Authority (FSA) board as non-executive directors. Ethical investment specialist Davidson has been a director of Baigrie Davies since 2005. She was also a founding director of Chase de Vere and held a directorship at Holden [...]
SHAGGAN AND OTHER TALES OF INTEREST April 13, 2010 DICK TURPIN MANAGING DIRECTOR, ARTEMIS THE Arabic word “shaggan” has no equivalent in English. It means the power some singers, such as Edith Piaf, have to imbue the lyrics of a song with an inexpressible melancholy; a yearning for better times. The shaggan has worked, it seems. As I write, the UK market is well [...]
CITY MOVES | WHO’S SWITCHING JOBS March 18, 2010 Avoca Capital Holdings The European credit investment manager has hired Clayton Perry, formerly principal and managing director at Broadchalk Advisors, as its new chief operating officer. Prior to establishing Broadchalk, Perry was head of global collateralised loan obligation (CLO) business at Credit Suisse, responsible for CLO transactions in the US and Europe. The appointment comes [...]
Lloyds’ remuneration chairman quits ahead of investor showdown March 22, 2010 The head of the remuneration committee at Lloyds Banking Group will retire in May, sidestepping a potential fight with shareholders over the bonus awarded to the bailed-out bank’s chief executive. Wolfgang Berndt, 67, will step down from the board at the bank’s annual shareholder meeting, Lloyd’s said. He is leaving just months after approving a [...]
A perfect storm threatens law firms June 29, 2010 IF any lawyers thought that the effects of the downturn on law firms are over, then they would have got a rude shock last week when Halliwells announced that it was going into administration. It was a clear sign that law firms have to change if they want to survive. While many have bumbled along [...]
CITY MOVES | WHO’S SWITCHING JOBS April 20, 2010 Merrill Lynch The bank has appointed Patrick Ramsey as chief executive of Merrill Lynch Bank Suisse, the Swiss wealth management division. Ramsey, who will report to Merrill’s EMEA head of wealth management David Jervis, joined the group in 2002. He most recently held the role of head of European private banking. Prior to joining Merrill, [...]
Era of cheap money is gone forever February 16, 2010 THERE is one, overwhelming reason why interest rates are going up on products such as credit cards, even though the Bank of England’s base rate remains very low. It has nothing to do with greed, bonuses, rip-off Britain or conspiracy theories – and all to do with the costs associated with the massive amounts of [...]
Tech stocks the apple of every trader’s eye April 19, 2010 AS THE recovery gathers momentum, business spending on technology is creeping back. In the leaner, greener post-recession world, enhancing productivity through more efficient technology is one way that firms are able to keep costs down. Now that firms are more confident about their business prospects they can start to make investment decisions – analysts are [...]
CITY MOVES | WHO’S SWITCHING JOBS February 22, 2010 KPMG The accountancy giant has appointed Michelle Quest as its new head of people in the UK, having spent the past 13 years of her career at the firm. Quest joined KPMG from Robson Rhodes in 1997 and became an M&A tax partner in the tax and people services practice in 2003. She takes over [...]