Sinead's Feed
Oct 27, 2015

UniCredit CEO fights to keep investor confidence with new plan

LONDON/MILAN (Reuters) – As UniCredit puts the finishing touches to an updated strategic plan to be presented to shareholders next month, some investors in the top Italian bank are raising questions about the leadership of Chief Executive Federico Ghizzoni.

The new plan to 2018, whose predecessor was scrapped because it was based on overly-optimistic macroeconomic forecasts, is central to Ghizzoni’s efforts to bolster shareholder confidence in the face of the bank’s stubborn underperformance.

Oct 23, 2015

Honeymoon over for Prudential boss facing boardroom, regulation woes

LONDON (Reuters) – After five uneventful months settling into the top job at Britain’s largest insurer, the challenges facing Prudential boss Mike Wells are beginning to mount.

Half-year figures posted at the height of summer reflected a company in rude health, with new business booming and profits topping expectations.

Oct 21, 2015

Prudential’s UK and Europe CEO Jackie Hunt leaves firm

LONDON, Oct 21 (Reuters) – The chief executive of insurer
Prudential’s UK and Europe business, Jackie Hunt, has
left the company with immediate effect, the company said on
Wednesday.

She will be replaced by Group Investment Director John Foley
on an interim basis, Prudential said in a statement, giving no
further details.

Oct 19, 2015

Mis-selling fears hamper funds’ fintech revolution

LONDON (Reuters) – British fund firms are falling behind in the so-called ‘fintech’ revolution, fearing that a boom in investment via phone apps could spawn the next financial mis-selling scandal.

With smartphone apps already transforming the way people bank, tech-savvy savers are impatient for similar software to aid easier and cheaper ‘on-the-move’ investment.

Oct 16, 2015

Principal Financial to shut fund of hedge fund firm Liongate

LONDON (Reuters) – U.S. asset manager Principal Global Investors is to shut London-based hedge fund investment firm Liongate Capital Management after fee-conscious investors withdrew too much money from its funds.

While the hedge fund industry has hit $3 trillion on demand for alternative bets in a low-return world, investors are keen to pay less to make those bets, hitting funds that charge an extra fee for selecting which hedge funds to invest in.

Oct 13, 2015

New Barclays CEO faces early challenge to fix wealth arm

LONDON, Oct 13 (Reuters) – The new chief executive of
British bank Barclays, expected to be former JPMorgan
banker Jes Staley, faces an early challenge in deciding
what to do in wealth management after a decade of
disappointment.

Most scrutiny is on whether the new CEO, replacing Antony
Jenkins after his ouster in July, will continue to scale back in
investment banking, or build it back up. But investors said
there are other areas that need selling, fixing, or deserve to
be expanded.

Oct 13, 2015

Barclays set to name former JPMorgan banker Staley as new CEO

NEW YORK/LONDON (Reuters) – British bank Barclays PLC (BARC.L: Quote, Profile, Research, Stock Buzz) is close to naming former JPMorgan Chase (JPM.N: Quote, Profile, Research, Stock Buzz) banker Jes Staley as chief executive, signaling a renewed focus on an investment banking division that has been pared back over the past three years.

Barclays offered the position to Staley, currently managing partner of U.S. hedge fund firm BlueMountain Capital Management, and he accepted the offer, a person with knowledge of the situation told Reuters on Monday.

Oct 9, 2015

LSEG’s Russell Investments sale a positive despite lower price-analysts

Oct 9 (Reuters) – Analysts said the sale of London Stock
Exchange Group Plc’s Russell Investments was a positive
for the company even though it had received a slightly
lower-than-expected price for the asset management business.

London Stock Exchange Group (LSEG) said in a statement after
London markets closed on Thursday that it would sell the unit
for gross proceeds of about $1.15 billion (748.31 million
pounds).

Oct 5, 2015

UK plans 2 billion pound Lloyds share sale to private investors

LONDON (Reuters) – The Treasury said it will sell at least 2 billion pounds worth of shares in Lloyds Banking Group to private retail investors in spring 2016 to return the bank to full private ownership.

The sale is set to be the biggest privatisation in Britain since the 1980s, when Margaret Thatcher’s government sold 3.9 billion pounds worth of shares in British Telecom and 5.6 billion pounds worth of British Gas shares.

Oct 5, 2015

Treasury plans Lloyds share sale to private investors

LONDON (Reuters) – The Treasury said it will sell at least 2 billion pounds worth of shares in Lloyds Banking Group to private retail investors in spring 2016 to return the bank to full private ownership.

The sale is set to be the biggest privatisation in Britain since the 1980s, when Margaret Thatcher’s government sold 3.9 billion pounds worth of shares in British Telecom and 5.6 billion pounds worth of British Gas shares.