Tidjane Thiam’s last Prudential results put spotlight on Asia while UK business lags May 6, 2015 Outgoing Prudential boss Tidjane Thiam yesterday said the company was no longer seeking to grow in the US and UK, and would instead focus on expanding in the Asian market. Thiam delivered his last set of results as the head of the insurance group, which detailed the firm’s 22nd consecutive quarter of growth. Sales across [...]
July Budget 2015: From benefits caps and child tax credits cuts to pension and inheritance tax changes, here’s what to expect July 7, 2015 Tomorrow, George Osborne takes to the despatch box for his first truly Conservative Budget – indeed, the first majority Conservative Budget since 1996. The chancellor is notoriously good at trailing the contents of his Budgets before he stands up – so what do we know so far? Read more: Budget live – all the key announcements [...]
Breaking the Bank: What will rising UK interest rates mean for P2P lending? October 5, 2015 The Bank of England will soon need to rediscover the use of its trigger finger and fire the starting gun on interest rate rises. Still expected to be slow and steady, tightening policy after nearly seven years of ultra cheap money will nevertheless have a sizeable impact on everything and everyone, pushing up borrowing costs [...]
City Moves for 24 June 2015 | Who’s switching jobs June 23, 2015 PwC Alex Petsopoulos has been appointed partner in the professional services firm’s cyber security practice. He joins from Deloitte, where he was a partner in its security practice. Petsopoulos has over 14 years’ experience in the IT industry. State Street Global Advisors State Street’s asset management business has appointed Greg Ehret as president. He has [...]
Don’t fear an increasing minimum wage – it helps the country’s poorest June 11, 2015 The great challenge for the government over the next five years is to raise productivity and living standards, while also continuing in its efforts to cut the deficit. Significant reform to planning, skills, tax and regulation will all be necessary. But one regulation which should not be abolished is the National Minimum Wage (NMW). When [...]
Red tape officers must allow banks to take risks: There’s no business without it July 21, 2015 It's clear there is still a major gap in understanding how growth can be maintained and stimulated by effective risk management, rather than restricted by focusing purely on compliance control as this recent report on soaring pay for so-called red tape officers shows. Some still blame excessive regulation for a stalling in financial firms’ [...]
Think 45p taxpayers have it hard? The tax system crushes incentives at all levels June 29, 2015 Ahead of next week’s Budget, two former chancellors and 160 Tory MPs are calling for the 45 per cent income tax rate to be reduced to 40 per cent. But for all the political capital devoted to explaining the disincentive effects of a 45 per cent rate, the reality is that many people across the [...]
Tidjane Thiam will be replaced by Mike Wells as Prudential chief exec May 1, 2015 Prudential has found its successor for departing chief executive Tidjane Thiam – and they haven't had to look too far. Mike Wells, head of the company's US arm Jackson National Life, will step into the role vacated by the popular Thiam, who is leaving to head up Credit Suisse. The 55-year-old will replace a resoundingly popular [...]
Tidjane Thiam earnt £11.8m in last year as Prudential’s chief executive March 31, 2015 Outgoing Prudential chief executive Tidjane Thiam received £11.8m in his final year at the company, the insurer revealed yesterday. The vast majority of that came from long-term incentive awards – those payouts gave him £8.3m. Combined with a salary of just over £1m, pension contributions of almost £400,000 and a bonus of £2.1m, the boss [...]
The glamorous world of Ivan Massow: Everything you need to know about London’s latest Mayoral candidate May 18, 2015 London's Mayoral election just got interesting, after entrepreneur Ivan Massow announced his intention to run as Conservative candidate in the vote, due to take place next year. There's no doubt London likes its leader to have bags of character (see: "Boris Johnson cheerfully dangling off a zipwire") – and Massow has character a-plenty. Here's everything [...]