CITY MOVES | WHO’S SWITCHING JOBS April 14, 2010 FSSC The Financial Services Skills Council has appointed Trevor Matthews, the chief executive of Friends Provident, as its new chairman. Matthews joins a number of high-profile City bosses on the FSSC board, including Resolution Group chief executive John Tiner, Standard Life managing director John Gill, KPMG vice chairman Brendan Nelson, and Angela Knight, the chief [...]
Darling blamed for Lehman fall January 31, 2010 Alistair Darling prevented a takeover of Lehman Brothers by Barclays because he thought it could hurt the British bank, according to former US Treasury secretary Hank Paulson. Paulson makes the claim in his memoir On the Brink. He says that the Chancellor called him on 12 September 2008 – when the US authorities were desperately trying [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 9, 2010 FINANCIAL TIMES GARDNER TO TAKE CONNAUGHT ROLE Connaught will today announce Sir Roy Gardner as its new non-executive chairman in a move the social housing maintainance group hopes will stabilise the business after a turbulent six months. The group, which mends leaky pipes in council houses and sweeps roads, was hit by the sudden resignation [...]
CITY MOVES | WHO’S SWITCHING JOBS April 18, 2010 Withers The law firm has appointed Kenneth Mullen as a partner in the firm’s London office, continuing the expansion of the firm’s European commercial practice. Mullen joins from Shepherd and Wedderburn, where he was a partner in the media and technology team in London. He is a specialist in transactional intellectual property, technology and outsourcing, [...]
CITY MOVES | WHO’S SWITCHING JOBS February 10, 2010 Collins Stewart Christian Redman has joined the investment banking group’s wealth management division, Collins Stewart Wealth Management, as an associate director. Redman joins from Barclays Wealth, where he was responsible for managing over £450m on behalf of private clients across multiple asset classes. He has worked at Gerrard (now part of Barclays Wealth) since 1986, [...]
FTSE 100 is dragged down by banks despite healthy UK economic recovery March 30, 2010 BRITAIN’S top share index ended 0.7 per cent lower yesterday, dragged down by banks, which extended the previous session’s losses, in thin trading ahead of the Easter break. The FTSE 100 index ended down 38.34 points at 5,672.32, having closed above 5,700 for the last three sessions. The index hit a 21-month intra-day peak at [...]
UK trade gap widens March 9, 2010 THE UK’s goods trade deficit with the rest of the world has grown to its widest since August 2008, official figures have shown. Exports in January plummeted by almost 7 per cent leaving the deficit at £7.987bn compared with £7.01bn in December. The figures were disappointing because the weak pound was expected to boost exports. [...]
BG defends chief’s £28m pay bonanza April 5, 2010 BG GROUP has defended its chief executive’s stratospheric pay package ahead of a vote on remuneration by shareholders at its annual general meeting in May. Frank Chapman more than doubled his compensation to £28m in 2009 after exercising a large chunk of share options. Although his basic salary and bonus came to £2.7m, the bulk [...]
SPREAD BET GURU February 14, 2010 Q.Dear Josh, what should I keep an eye out for this week when trading equities? A.We are getting stuck in to the UK earnings season now and there are a number of firms announcing this week, including Barclays, Intercontinental Hotels, BAE Systems and the miner Anglo American. Barclays will be the major focus because it [...]
Business lending in January slumps at fastest annual rate since records begin March 18, 2010 LENDING to businesses fell at its fastest annual rate in January since records began more than a decade ago, figures from the Bank of England (BoE) showed yesterday. The flow of net lending fell £6.5bn in January, nearly twice as fast as in December, the BoE said in its Trends in Lending report. That pushed [...]