Analyst Views: What do the latest results mean for Standard Chartered? August 5, 2015 IAN GORDON | INVESTEC “Standard Chartered has sharply underperformed sector peers, with the shares retreating by 17 per cent since peaking at 1,141p on 23 March. Our ‘hold’ recommendation and 970p RoE-g/CoE-g derived target price are maintained.” SANDY CHEN | CENKOS “We’re not exactly certain about how much to recalibrate our forecasts – but we’re [...]
City Moves for 06 August 2015 | Who’s switching jobs August 5, 2015 Savills The property adviser has appointed Julian Lyon as director in its worldwide occupier services team. He joins from General Motors UK, where he spent 17 years consolidating its UK property portfolio. Lyon has 30 years’ experience in the commercial property market. Standard Chartered Mark Smith has been appointed group chief risk officer at the [...]
Standard Chartered share price rises as investors warm to Winters August 5, 2015 Shares in Asia-focused bank Standard Chartered were up more than four per cent at 992p in lunchtime trade as new chief exec Bill Winters won over investors. The figures This came despite first half results showing adjusted pre-tax profit slumped 44 per cent to $1.82bn (£1.17bn) in the six months to the end of June. The bank also cut its dividend [...]
Bank of England braced for historic Super Thursday – London Report August 2, 2015 THIS WEEK includes s-called Super Thursday when the Bank of England’s policy announcement, meeting minutes from the monetary policy committee and the latest Inflation Report will – for the first time – all be released simultaneously. HSBC gets the week off with a bang today with interim results, Standard Life tomorrow and Legal & General [...]
Bank chiefs to be given ethics quiz: Banking Standards Board kicks off cultural audit of UK’s lenders July 26, 2015 The City body tasked with restoring faith in the UK banking system is set to write to the chairmen of Britain’s biggest lenders, quizzing them on their firms’ ethics and culture – the first major initiative by the taskforce to bolster integrity in the sector. The Banking Standards Board (BSB), chaired by former telecoms regulator [...]
David Cameron’s south east Asia tour: The UK needs a step change in its ASEAN trade July 26, 2015 As David Cameron tours south east Asia this week, he can take heart from the recent experience of an iconic British brand which resonates all over the world. Liverpool football club spent last week in Malaysia, with manager Brendan Rodgers commenting that “it’s been incredible to see the support we’ve received.” This was reflected in [...]
World Championships 2015: Jessica Ennis-Hill should compete but maybe not Mo Farah, says Jonathan Edwards July 22, 2015 Former Olympic champion Jonathan Edwards has urged heptathlete Jessica Ennis-Hill to contest next month’s World Championships in Beijing, but is less convinced by the merits of much-scrutinised Mo Farah defending his twin titles. Read more: Mo Farah – prove I’m doping or leave me alone Ennis-Hill is to judge her medal-winning potential and decide [...]
George Osborne set for a grilling over new bank tax July 20, 2015 George Osborne is expected to face a grilling from MPs today over the new bank surcharge – set to be introduced next year – when he appears before a Treasury select committee for the first time since the Budget. Mark Garnier, a Conservative minister on the Treasury select committee, told City A.M. that while [...]
Standard Chartered share price rises as Bill Winters confirms management shakeup July 20, 2015 New chief executive Bill Winters has barely been at the helm of Standard Chartered a month, but he's already made his presence felt after the bank confirmed a shakeup of its management team this morning. Read more: Challenge set for Winters on day one at StanChart Shares in the bank rose one per cent to 1,027.3p [...]
City Moves for 20 July 2015 | Who’s switching jobs July 19, 2015 Valad Europe The real estate investment management firm has appointed Claire Treacy as chief financial officer. She was previously head of tax and risk at Valad. Before joining, Treacy was a senior tax manager in KPMG’s real estate group, specialising in European fund structuring. PwC Stephen Soper has been appointed senior pensions adviser in the [...]