Litigation fund eyes special dividend August 17, 2012 Britain’s first quoted litigation investment fund, which bankrolls lawsuits in return for earning a share of awards, plans to pay a bumper dividend to investors after winning a further four cases worth £23m. The board of Juridica Investments Ltd is scheduled to meet on 6 September, before its September half-year results, to discuss a special [...]
WorldSpreads administrators look to courts August 5, 2012 THE ADMINISTRATOR for defunct spread betting firm WorldSpreads yesterday said it was collecting evidence ahead of potential legal action to recover money owed to the firm’s creditors. A forensic accounting team from KPMG has been appointed to pore over 24 terabytes of data including emails recovered from WorldSpreads to try and piece together how the [...]
Disheartening words from Europe send FTSE 100 deeper into the red July 31, 2012 BRITAIN’S FTSE 100 fell yesterday, extending earlier losses, weighed by worries the European Central Bank may not deliver enough stimulus this week to tackle a global economic slowdown, as comments by German policymakers further dented expectations. At the close, the FTSE 100 was down 45.97 points, or 0.8 per cent, at 5,647.66, also weighed by [...]
CITY MOVES | WHO’S SWITCHING JOBS July 19, 2012 Inflexion Private Equity The private equity house has announced the promotion of Richard Swann from the position of investment director to its partnership. He joined Inflexion in 2008, and has since led several of its investments. Swann’s promotion follows the firm’s recent appointments in Brazil, India and China. Coutts Johnny Heng has been appointed managing [...]
CITY MOVES | WHO’S SWITCHING JOBS July 18, 2012 Baroda Pioneer The asset management firm has appointed Jaideep Bhattacharya as its managing director. He joins from UTI Mutual Fund, where he was previously group president and chief marketing officer. Bhattacharya has also held senior roles at ICICI, the Indian bank. VTB Capital Peter Stonor has been appointed global head of infrastructure and transport for [...]
CITY MOVES | WHO’S SWITCHING JOBS July 12, 2012 Ignis Asset Management Jeremy Soutter has been appointed global head of product development at the asset management firm. He will join on 1 August from Aviva Investors, where he has held a similar position for 13 years. Soutter has worked in asset management since the early 1980s, notably at Gartmore Fund Management, Lloyds Bank and [...]
CITY MOVES | WHO’S SWITCHING JOBS June 6, 2012 Winston & Strawn Justin McClelland has joined the law firm from Milband as a partner in its global commercial litigation practice. He started his legal career at Slaughter & May, and previously served in Army Legal Services, reaching the rank of lieutenant colonel. He was appointed a Member of the British Empire (MBE) in 1998. PIMCO [...]
CITY MOVES | WHO’S SWITCHING JOBS May 31, 2012 Brooks Macdonald Funds The fund management firm has appointed Christine Tacon as chairman of UK Farming, its new asset-backed UK farming business. Tacon was managing director of Co-operative Farms from 2000 to December 2011, and an executive board member of Co-operative Food Retail. UK Farming targets investment in existing arable farmland. Kleinwort Benson Valentina Tacchino [...]
Fund managers head for the courts to cash in on divorces May 28, 2012 INVESTORS looking for the next big opportunity beyond the Brics have been offered a new place to put their money – Britain’s £100m a year divorce industry. Novitas has launched a divorce litigation fund to create an alternative lending source for people who need help to pay for divorce costs. It plans to raise £5m [...]
CITY MOVES WHO’S SWITCHING JOBS May 7, 2012 Squire Sanders The legal practice has promoted senior associate Gareth Timms to its global partnership. Timms is a finance litigation specialist, and his promotion took effect on 1 May. He joined the firm in 2005 and has over twelve years of experience working for asset based lenders. Bridgepoint The private equity firm has announced the [...]