PERSONALITY OF THE YEAR | The shortlist
The past year has not been an easy one for the City of London, overshadowed as it has been by the austerity programme in the UK and the Eurozone crisis.
But there will be much to be optimistic about and to celebrate at City A.M.’s second annual awards ceremony on 21 September.
Our personality of the year short-list includes the chief executive of the commodities group Glencore, which recently pulled off the London Stock Exchange’s largest ever flotation.
The other candidates include Gerald Ronson, whose iconic Heron Tower building is the latest of the magnificent skyscrapers to adorn the London skyline, and Burberry chief executive Angela Ahrendts.
There will be only one winner, judged by our prestigious panel of City and business experts.
So that you don’t miss the City event of the year, get online now and book your table for the City A.M. Awards on 21 September at the Grange St Paul’s Hotel, London EC4.
To get in touch, call 020 8267 4043 or see www.CityAMAwards.com
IVAN GLASENBERG
GLENCORE
Glencore chief executive Ivan Glasenberg headed up the largest ever flotation on the London markets earlier this year and managed to wow potential shareholders by promising not to sell his near £6bn worth of shares for five years.
Glasenberg’s stake dropped from 18.1 per cent to 15.8 per cent after the shares listed because of other shareholders coming on board, but he still remains the group’s largest shareholder.
He joined Glencore in April 1984 and has been chief executive officer since January 2002.
The hitherto secretive businessman has even come out to join London’s business elite at the opening of the Chelsea Flower Show and then followed that the next day with a stock exchange celebration. But his achievement at getting the float off the ground will have been diminished, with shares off 10 per cent in the first five weeks of trading.
ANGELA AHRENDTS
BURBERRY
Angela Ahrendts has hardly put a foot wrong since she joined Burberry in 2006. In its recent set of results, profits rose from £211.4m to £295.7m, boosted by ever-increasing sales in emerging markets such as China, Brazil and India.
The company, famous for its camel plaid, opened 26 new shops in the year, mainly in “high potential” markets like India and Mexico. Burberry also opened a flagship store in Beijing and new shops in China’s provincial capitals, on top of the 50 stores it already had there.
When she arrived at Burberry, the group’s famous check was being linked with “chav” culture.
She soon made sure that the check was reduced in importance and now Burberry is synonymous with luxury, not the rougher elements of youth culture.
US-born Ahrendts says she wants to sell the British attitude across the world.
She seems to be getting there fast.
GERALD RONSON
HERON CORPORATION
Gerald Ronson is one of the most respected developers in the UK and this year saw through the completion of the Heron Tower in the heart of the City. The tower offers office space in Bishopsgate.
Gerald started working with his father in the furniture business prior to joining Heron Homes, which became one of the biggest house builders in the South of England. In 1956 he founded Heron Group – now called Heron International – of which he is chief executive.
He is a big giver to charity and he is also known for his annual lunches where some of the biggest names in business get together to discuss new developments in both business and politics.
NAT ROTHSCHILD
VALLAR AND VALLARES
The son of Jacob, Lord Rothschild, Nat has made the most of a year when commodities and commodity investment flourished. He has floated Vallar, a group that is involved in resources projects in Indonesia and other emerging markets, and together with BP’s former chief executive Tony Hayward and ex Goldmanite Julian Metherell he is launching another commodities based group called Vallares.
Some say his investment in Glencore became worth almost £25m when the group floated earlier this year.
Nat is a man whose fondness for the high life was much reported on in his early adult life. Now he is keen for onlookers to focus on his business interests, which are becoming ever more public.
Shares in Vallar have climbed 21 per cent since their debut last summer and Vallares raised 35 per cent more than it expected.
PETER CLARKE
MAN GROUP
Peter Clarke, chief executive of Man Group, pulled off the acquisition of the renowned hedge fund GLG in October last year, in response to investors wanting to place their money with larger and more diversified managers.
One of the lesser-known consequences of the deal is that Man employees are now free to wear jeans at work.
Man returned to positive inflows during the year and launched a savings product in Japan which raised $2bn.
Earlier this year, the group sold its stake in Bluecrest Group, making a £250m profit.
After a near-halving of its funds under management in the financial crisis, Man has been building back up its assets aided by the GLG purchase.
Clarke is leading the world’s largest hedge fund manager out of its Sugar Quay offices in the City (where it has been for over 30 years) into a new home in Riverbank House.