Tullett set to square up to BGC in court October 11, 2009 TULLETT Prebon and BGC Partners will this week commence battle in the High Court, as the City hangs attentively on every word to glean sensational details about the aggressive high-octane world of inter-dealer broking. Tullett, led by City veteran Terry Smith, alleges that BGC tried to poach at least 55 of its top broking staff [...]
Small investors to launch RBS claim October 11, 2009 A GROUP of small shareholders is planning to sue Royal Bank of Scotland, claiming it misled investors in its May 2008 prospectus for a rights issue to pay for its acquisition of Dutch bank ABN AMRO. The Royal Bank of Scotland Shareholders’ Action Group said yesterday it had hired forensic accountant Paul Klumpes and was [...]
Top lady shot takes the helm at a new City member’s club October 11, 2009 CLAIRE Zambuni could be dangerous. A leggy blonde with Baywatch-style features and a big smile, I’d not be surprised to hear that men routinely fall at her feet. But its her way with a gun that makes her particularly worth buttering up – she’s the UK’s best lady shot, in the top three best shots [...]
WINTER OF DISCONTENT October 8, 2009 BRITAIN is facing a “winter of discontent” with strikes looming at Royal Mail, British Airways, Irish carrier Aer Lingus, and electronics giant Fujitsu. Staff at Royal Mail yesterday voted three to one in favour of a national strike, which is set to bring misery to businesses over the Christmas period, while costing London hundreds of [...]
British Land executives to set up firm October 8, 2009 PROPERTY group British Land is set for a boardroom shake-up after it emerged that its star director Andrew Jones was quitting the group, taking two committee members with him to set up a rival firm. Jones, 40, had already confirmed he was considering leaving but his decision to bring on board colleagues Valentine Beresford and [...]
TORIES MULL TAX ON BAILED-OUT BANKS October 7, 2009 A TORY government would consider a “windfall” tax on UK banks that have received state support, in an apparent sign of shadow chancellor George Osborne’s willingness to play hardball with the City. One possibility for the tax, currently being discussed at the highest levels within the party, would take the shape of a new accounting [...]
CITY MOVES WHO’S SWITCHING JOBS October 4, 2009 ForestersThe friendly society has hired industry heavyweight Graham Berville to the board as a non-executive director. Berville was formerly director of the Association of Friendly Societies and chairman of the Association of Mutual Insurers, as well as a member and chairman of various Association of British Insurers (ABI) committees. Prior to joining Foresters, he spent [...]
Legal &General buyout talk continues to dominate FTSE October 1, 2009 TALK that blue chip insurer Legal & General is to be a target for Clive Cowdery’s Resolution buyout vehicle continued yesterday. Traders were saying that L&Ghas already been approached by Cowdery, despite the fact his buyout vehicle is currently in a closed period ahead of its merger with rival insurer Friends Provident. But City A.M. [...]
CITY VIEWS: DO YOU THINK THE PROPOSED CLAMP DOWN ON BONUSES IS IN DANGER OF GOING TOO FAR? October 1, 2009 NIRANJAN GIVANE OCBC BANK“I think that it’s the right move for the current time. Bonuses should be awarded for long-term performance, and I think this latest action is going in the right direction for the City. The people who are below the very top tier aren’t rewarded in the same way.”DES MORAN ROYAL BANK OF [...]
City Moves for 2 October 2009 | Who’s switching jobs October 1, 2009 Clydesdale BankThe bank, part of the National Australia Bank group, has appointed John Holm as a director in its corporate and structured finance team in London. Holm was previously director of insurance in Europe for National Australia Bank. He has also spent over 30 years working at the Royal Bank of Scotland, latterly in the [...]