• FN Weekend: Your Friday roundup of the must-read news, commentary and analysis from Financial News this week, courtesy of @Fanfaronade Link https://t.co/79OgqsAReC
    Financial News Fri 15 Nov 2019 17:06

    Welcome to FN Weekend, your Friday smörgåsbord of the best news, features and opinion from Financial News this week.

    Dear FN Reader,

    After the political madness of recent weeks, this one has felt a little like a return to normal.

    Government...

  • RT @emilyhorton231: William Blair Investment Management has hired the former head of emerging markets debt at NN Investment Partners, who l…
    Financial News Fri 15 Nov 2019 14:51
  • Carpetright agrees takeover by poker-playing hedge funder - @Fanfaronade reports Link
    Financial News Fri 15 Nov 2019 14:51

    Carpetright looks set to be bought by Talal Shakerchi, the former Old Mutual fund manager and professional poker player, after the struggling UK flooring retailer’s board unanimously recommended his offer.

    In a statement on November 15, the company said Meditor Fund, which was founded by Shakerchi and colleagues from Old Mutual’s European equities team in 1998, has offered to buy the 70.1% of the company it does not already own for £15.2m, completing a take-private of the London-listed company.

    ...
  • William Blair hires fund manager trio who left Dutch rival in ESG row Link
    Financial News Fri 15 Nov 2019 14:46

    William Blair Investment Management has hired the former head of emerging markets debt at NN Investment Partners, who left along with several members of his team following a disagreement over the Dutch fund manager’s environmental, social and governance strategy.

    Marcelo Assalin will join William Blair in a similar role, alongside his colleagues at NNIP Marco Ruijer and Lewis Jones, the US firm said in a November 15 statement. They will join in the first quarter of 2020 and form a new dedicated emerging-market debt team there.

    ...
  • Eddie Stobart agrees private equity deal as losses mount Link
    Financial News Fri 15 Nov 2019 12:25

    Private equity group DBAY Advisors has struck a deal to takeover struggling logistics company Eddie Stobart and inject £55m to provide it the liquidity it needs before Christmas.

    The cash injection by the private equity firm – through its fund DouglasBay Capital III – will be done with a payment-in-kind loan instrument. News of DBAY’s proposal, which will see the fund acquire a 51% stake in the business, was first announced earlier this week. On November 15, the company said it has now agreed to the deal.

    ...
  • .@Lazard has assembled a team of 10 investment bankers to focus on high-growth companies in Europe, the latest effort by an advisory firm to tap into the increasing demand for private capital in the region Link
    Financial News Fri 15 Nov 2019 12:25

    Lazard has assembled a team of 10 investment bankers to focus on high-growth companies in Europe, the latest effort by an advisory firm to tap into the increasing demand for private capital in the region.

    The new team will be led by former Numis investment bankers Garri Jones and Nick James, who will sit in Lazard’s UK investment banking business. The division is called venture and growth banking, and will work with the firm’s capital markets and mergers and acquisitions bankers to advise companies on raising funds away from...

  • .@GoldmanSachs has announced its first round of managing director promotions under chief executive David Solomon Link
    Financial News Fri 15 Nov 2019 12:25

    Goldman Sachs has announced its first round of managing director promotions under chief executive David Solomon, who has moved to slim down management at the bank and cut reliance on its sales and trading division since taking charge a year ago.

    On Thursday Goldman named 465 new MDs across its global business lines, which include investment banking, asset and wealth management, securities trading, commercial banking and its retail offering, Marcus. This is down almost 9% on the 509 people it made MD in 2017 (the promotion round occurs every two years).

  • Lazard builds 10-strong team to focus on private deals Link from @paultclarke
    Financial News Fri 15 Nov 2019 11:20

    Lazard has assembled a team of 10 investment bankers to focus on high-growth companies in Europe, the latest effort by an advisory firm to tap into the increasing demand for private capital in the region.

    The new team will be led by former Numis investment bankers Garri Jones and Nick James, who will sit in Lazard’s UK investment banking business. The division is called venture and growth banking, and will work with the firm’s capital markets and mergers and acquisitions bankers to advise companies on raising funds away from...

  • Carpetright agrees takeover by poker-playing hedge funder Link
    Financial News Fri 15 Nov 2019 10:35

    Carpetright looks set to be bought by Talal Shakerchi, the former Old Mutual fund manager and professional poker player, after the struggling UK flooring retailer’s board unanimously recommended his offer.

    In a statement on November 15, the company said Meditor Fund, which was founded by Shakerchi and colleagues from Old Mutual’s European equities team in 1998, has offered to buy the 70.1% of the company it does not already own for £15.2m, completing a take-private of the London-listed company.

    ...
  • Eddie Stobart agrees private equity deal as losses mount Link via @SelinBucak2 and @PrivateEquityN1
    Financial News Fri 15 Nov 2019 10:30

    Private equity group DBAY Advisors has struck a deal to takeover struggling logistics company Eddie Stobart and inject £55m to provide it the liquidity it needs before Christmas.

    The cash injection by the private equity firm – through its fund DouglasBay Capital III – will be done with a payment-in-kind loan instrument. News of DBAY’s proposal, which will see the fund acquire a 51% stake in the business, was first announced earlier this week. On November 15, the company said it has now agreed to the deal.

    ...
  • Opinion: The UK is growing like France — so why does it get a bad rap? Link
    Financial News Fri 15 Nov 2019 09:15

    Inflation in the UK is at its lowest level in three years, growth hasn’t been so slow since early 2010, the December general election has added political uncertainty to the economic fears generated by Brexit, and the Bank of England still seems to be hesitating on whether to lower interest rates.

    Hidden under the recent underwhelming economic data, however, is the fact that in spite of the global economic slowdown triggered by President Donald Trump’s trade warmongering, the UK will keep growing this year. And it will do so...

  • Opinion: The digital money revolution is happening — here’s how central banks should shape it Link
    Financial News Fri 15 Nov 2019 09:15

    How radically will digital currencies change our methods of exchange and the way that we think about money? With innovation in digital payments barrelling ahead, these questions are now commanding the attention of the World Economic Forum and other international institutions.

  • Goldman Sachs promotes 465 to managing director — here are the names Link
    Financial News Fri 15 Nov 2019 09:15

    Goldman Sachs has announced its first round of managing director promotions under chief executive David Solomon, who has moved to slim down management at the bank and cut reliance on its giant sales and trading division since taking charge a year ago.

    Goldman on Thursday named 465 new MDs across its global business lines, which include investment banking, asset and wealth management, securities trading, commercial banking and its retail offering, Marcus. This is down almost 9% on the 509 people it made MD in 2017 — the promotion round occurs every two years.

  • RT @newlands_chris: Hot off the press: Goldman Sachs promotes 465 to managing director — here are the names Link via @Fi…
    Financial News Thu 14 Nov 2019 18:15

    Goldman Sachs has announced its first round of managing director promotions under chief executive David Solomon, who has moved to slim down management at the bank and cut reliance on its giant sales and trading division since taking charge a year ago.

    Goldman on Thursday named 465 new MDs across its global business lines, which include investment banking, asset and wealth management, securities trading, commercial banking and its retail offering, Marcus. This is down almost 9% on the 509 people it made MD in 2017 — the promotion round occurs every two years.

  • Goldman Sachs has announced its first round of MD promotions under CEO David Solomon, who has moved to slim down management at the bank and cut reliance on its giant sales and trading division since taking charge a year ago — here are the names Link
    Financial News Thu 14 Nov 2019 18:15

    Goldman Sachs has announced its first round of managing director promotions under chief executive David Solomon, who has moved to slim down management at the bank and cut reliance on its giant sales and trading division since taking charge a year ago.

    Goldman on Thursday named 465 new MDs across its global business lines, which include investment banking, asset and wealth management, securities trading, commercial banking and its retail offering, Marcus. This is down almost 9% on the 509 people it made MD in 2017 — the promotion round occurs every two years.

  • .@GoldmanSachs promotes 465 to managing director — here are the names Link @paultclarke https://t.co/yd7b2Zvk8j
    Financial News Thu 14 Nov 2019 18:05

    Goldman Sachs has announced its first round of managing director promotions under chief executive David Solomon, who has moved to slim down management at the bank and cut reliance on its giant sales and trading division since taking charge a year ago.

    Goldman on Thursday named 465 new MDs across its global business lines, which include investment banking, asset and wealth management, securities trading, commercial banking and its retail offering, Marcus. This is down almost 9% on the 509 people it made MD in 2017 — the promotion...

  • BlackRock and Amundi are among a group of asset managers that have warned against the introduction of a one-size-fits-all performance fee model across Europe, following attempts by the bloc’s main regulator to harmonise the charges — @davidricketts reports Link
    Financial News Thu 14 Nov 2019 15:00

    BlackRock and Amundi are among a group of asset managers that have warned against the introduction of a one-size-fits-all performance fee model across Europe, following attempts by the bloc’s main regulator to harmonise the charges.

    The European Securities and Markets Authority launched a consultation on draft guidelines in July, which aim to bring about a common approach to the patchwork of performance fee models that asset managers operate across the EU.

    ...
  • A senior human resources executive at Liquidnet is suing the US broker and its founder and CEO, Seth Merrin, alleging she is being pushed out after complaining about years of sexual harassment — @SamuelAgini reports Link
    Financial News Thu 14 Nov 2019 15:00

    A senior human resources executive at Liquidnet is suing the US broker and its founder and CEO, Seth Merrin, alleging she is being pushed out after complaining about years of sexual harassment.

    Mary Corradino, global head of talent acquisition at Liquidnet, made the claims in documents filed with the Southern District Court of New York on November 8.

    The...

  • RT @newlands_chris: This is how you get promoted to MD at Goldman Sachs... Link via @FinancialNews
    Financial News Thu 14 Nov 2019 15:00

    Goldman Sachs will today announce its latest class of managing directors, the first under chief executive David Solomon.

    The rank of MD is highly-coveted in US investment banking, not least because of the enhanced pay that comes with it.

    Goldman reveals its new MDs once every two years and this year’s promotion round will be keenly watched for clues about the changing face of the bank under Solomon.

  • Liquidnet executive sues CEO Merrin over sexual harassment — @SamuelAgini reports Link
    Financial News Thu 14 Nov 2019 13:29

    A senior human resources executive at Liquidnet is suing the US broker and its founder and CEO, Seth Merrin, alleging she is being pushed out after complaining about years of sexual harassment.

    Mary Corradino, global head of talent acquisition at Liquidnet, made the claims in documents filed with the Southern District Court of New York on November 8.

    The...

  • RT @paultclarke: Senior Barclays banker who quit the industry in June re-emerges at tech start-up looking to shake-up the bond market: http…
    Financial News Thu 14 Nov 2019 13:24
  • BlackRock and Amundi fight 'one-size-fits-all' performance fees Link via @davidricketts
    Financial News Thu 14 Nov 2019 13:09

    BlackRock and Amundi are among a group of asset managers that have warned against the introduction of a one-size-fits-all performance fee model across Europe, following attempts by the bloc’s main regulator to harmonise the charges.

    The European Securities and Markets Authority launched a consultation on draft guidelines in July, which aim to bring about a common approach to the patchwork of performance fee models that asset managers operate across the EU.

    ...
  • RT @sahloul81: It's MD promotion day at @GoldmanSachs. Here's a reminder of how it all happens, courtesy of this 2017 @PortiaCrowe piece fr…
    Financial News Thu 14 Nov 2019 12:34
  • RT @newlands_chris: Gina Miller calls no-deal Brexit and Corbyn ‘twin evils’ for the City Link via @FinancialNews @thatg…
    Financial News Thu 14 Nov 2019 12:14

    Gina Miller, who ran two successful legal campaigns against the UK government, has called the prospect of a no-deal Brexit or Jeremy Corbyn’s left-wing Labour Party winning next month’s general election “twin evils” for the City.

    Speaking at a Financial News event yesterday, Miller said it would be very hard to decide which of the two outcomes would be “less damaging” for London’s financial centre, but said a Corbyn-led government was the “lesser of two evils, just”.

    ...
  • A senior @Barclays investment banker has joined a tech start-up backed by City grandee Michael Spencer that is aiming to shake up the bond market Link
    Financial News Thu 14 Nov 2019 11:59

    A senior Barclays investment banker has joined a tech start-up backed by City grandee Michael Spencer that is aiming to shake up the bond market.

    Fabianna Del Canto, a former Barclays managing director in leveraged finance who quit in June, has re-emerged at a firm called Digital Debt Capital Markets, which has developed software called Agora.

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