FTSE rises as commodities and financials set the pace March 3, 2010 BRITAIN’S leading shares gained 0.9 per cent yesterday, boosted by strength in miners and oils, banks and life insurers, as upbeat US data lifted Wall Street. At the close, the FTSE 100 was 49.15 points higher at 5,533.21, ending at a seven-week peak on its fourth straight session of gains. “All the figures were pretty [...]
Top RBS bankers quit amid furious backlash over bonuses February 15, 2010 TWO investment banking hotshots have quit their positions at Royal Bank of Scotland just weeks before the annual bonus round, amid a furious populist backlash against potential payouts at the bailed-out bank. Steve Ashley, the head of interest rates trading, and Chris Fleming, the head of European flow sales, resigned on Friday. Both are thought [...]
HSBC’s chief gives up £4m February 28, 2010 HSBC boss Michael Geoghegan will announce plans today to hand over his multi-million pound bonus to charity as the banking giant reveals annual results. Geoghegan, who was is understood to have been in line to receive a £4m payout, will donate his bonus to charity after the bank’s strong 2009 performance. HSBC’s annual profits are [...]
Vive la France: banks are looking good value April 26, 2010 RISKS to the financial sector are finally starting to abate, according to a report by the International Monetary Fund (IMF) published earlier this month. It also reduced its estimates of bank writedowns caused by the financial crisis by $0.5 trillion. But banks still face a mountain of challenges, and the future of the sector is [...]
Sir Win Bischoff adds reinforcements to the board at Lloyds Banking Group… February 11, 2010 LLOYDS Banking Group yesterday appointed two new non-executive directors, the first board appointments since Sir Win Bischoff became chairman of the reviving institution. Glen Moreno, the current chairman of Pearson, becomes the group’s senior independent director. Moreno has significant experience in the banking industry, having held a number of positions at Citigroup between 1969 and [...]
FTSE ends higher on oil and mining after upbeat US data April 6, 2010 BRITAIN’S top shares closed 0.6 per cent higher yesterday, lifted by firmer commodities after upbeat US data raised demand expectations, while Vodafone fell as Verizon merger talk cooled. The FTSE 100 ended up 35.46 points at 5,780.35, having earlier hit a fresh 21-month intra-day peak of 5,790.40. The index climbed 1.2 per cent on Thursday [...]
CITY MOVES | WHO’S SWITCHING JOBS January 24, 2010 Cobham The aerospace and defence systems group has appointed National Express chairman John Devaney as its new non-executive chairman, effective from February. Devaney, 62, has a wealth of experience in the business world. He has just stepped down as a non-executive director at Northern Rock, and has also previously been chairman of technology and telecoms [...]
Turquoise expands bank share roster March 8, 2010 THE London Stock Exchange (LSE) yesterday sealed a deal with three leading banks to sell a nine per cent stake in Turquoise, the trading platform it bought at the end of last year. Barclays, JP Morgan Cazenove and Nomura have each snapped up three per cent of the venture, which was merged with the LSE’s [...]
CITY MOVES | WHO’S SWITCHING JOBS January 27, 2010 Aviva The insurance giant said yesterday Patrick Regan, its incoming chief financial officer and executive director, will step up to his new role on 22 February. Regan was previously group chief operating officer and chief financial officer at Willis Group, and has also held finance roles in the past at the likes of RSA and [...]
CITY MOVES | WHO’S SWITCHING JOBS March 17, 2010 CB Richard Ellis Jonathan De Mello is to join the property group as head of its retail consultancy team, effective from April. De Mello is one of the most respected analysts in the retail sector and joins from the Experian Property Consultancy. His consultancy clients have included the likes of Blackstone Private Equity, Henderson Global [...]