THE LONDON REPORT August 4, 2009 WEAKNESS in miners and banks sent the FTSE 100 0.2 per cent lower yesterday, retreating from the 2009 of the previous session. The index closed 11.09 points lower at 4,671.37, after ending at 4,682.46 on Monday. “When you’ve had such a strong run since March and after such a strong July, you can’t expect to [...]
CITY MOVES WHO’S SWITCHING JOBS June 24, 2009 Close BrothersThe financial services group has appointed Sven Guckelberger as a managing director to its corporate finance advisory arm, Close Brothers Corporate Finance, which has recently been sold to Daiwa Securities SMBC Europe. Guckelberger will join the restructuring and debt advisory group. Fenchurch The investment banking boutique has hired Julian Avery as a senior adviser, [...]
WOMEN LAWYERS IN THE CITY July 28, 2009 CLARE MCCONNELLPARTNER, STEPHENSON HARWOOD AND CHAIR, ASSOC OF WOMEN SOLICITORS SURVEYS continue to show that the progress of women lawyers in the profession, and into partnership, has stalled. Even in the 21st century it is still true that women shoulder the majority of the responsibility for childcare or care of other dependants even when they [...]
ONE YEAR ON, FORMER LEHMAN STAFF SHARE THEIR EXPERIENCES WITH CITY A.M. September 14, 2009 BISHER ARMANAZII was working as a trader in structured indices derivatives in London when Lehman Brothers went under. I was at home on the Sunday and happened to turn on the TV to see the story that the bank would not be receiving a government bailout. I went straight to a bar with a couple [...]
ONE YEAR ON, FORMER LEHMAN STAFF SHARE THEIR EXPERIENCES WITH CITY A.M. September 14, 2009 BISHER ARMANAZII was working as a trader in structured indices derivatives in London when Lehman Brothers went under. I was at home on the Sunday and happened to turn on the TV to see the story that the bank would not be receiving a government bailout. I went straight to a bar with a couple [...]
CITY MOVES Who’s switching jobs July 7, 2009 Palamon Capital PartnersThe mid-market private equity firm has appointed Dr Richard Wolman to its now 13-strong board of advisers. Wolman is a consultant in human resource development with a particular focus on investment firms, trading houses and management consultancies. Since 2008, he has been working with Palamon on internal development strategies and assisting its investment [...]
London still dominates EU hedge space May 27, 2009 LONDON still plays host to the top 15 hedge fund companies in Europe despite the massive losses and client withdrawals seen in the vehicles over the last year. The total assets managed by Europe’s top 50 hedge fund groups have plummeted by 30 per cent over the last year from £225bn to £178bn, according to [...]
The world’s biggest hotelier won’t let the downturn stop expansion September 20, 2009 At 6’3”, the chief executive of InterContinental Hotels Group (IHG) Andrew Cosslett has broad shoulders – and with the battering the travel sector has taken over the last year it is just as well. Not surprisingly, the economic downturn has hurt the world’s largest hotel group, which boasts 630,000 rooms across more than 4,300 hotels [...]
Treasury hires banks to manage auction of bonds June 9, 2009 THE Treasury has turned to a quartet of banks to manage a sale of 25-year bonds, in its first syndicated gilt sale in four years. The Debt Management Office said Barclays Capital, Goldman Sachs, HSBC and Royal Bank of Scotland had been hired to sell the securities during the week beginning 15 June. The bonds, [...]
Rio Tinto sale helps pay off its Alcan debt July 6, 2009 MINING giant Rio Tinto boosted its cash position yesterday, selling its Americas food packaging company to US group Bemis $1.2bn (£740m). Rio said that $200m of the sale proceeds may be in the form of Bemis shares.Rio, which last week raised $15.2bn through a massively discounted rights issue, is looking to slash the debt it [...]