Sinead's Feed
Apr 8, 2015

One $70 billion deal, just three advisers for Shell and BG

LONDON (Reuters) – Royal Dutch Shell’s $70 billion takeover of British energy firm BG stands out because only two investment banks and a boutique firm were selected for the advisory work.

This is in sharp contrast to many so-called mega-deals, which have historically involved at least two and sometimes three or four financial advisers to each party.

Mar 31, 2015

Elliott rejects Alliance defence document as row escalates

LONDON (Reuters) – Elliott Advisors, the rebel shareholder seeking a boardroom shake-up at Alliance Trust, rejected the trust’s defence of its performance, costs and dividend policy on Tuesday, and reiterated calls for the election of three new directors.

In the latest round of the war of words between one of Britain’s oldest investment companies and its largest investor, Elliott published a study of the trust’s shareholder circular, which it said failed “to engage on matters of substance and resorts to personal attacks.”

Mar 25, 2015

Top British fund executives face pay restraint as regulators circle

LONDON, March 25 (Reuters) – Some of Britain’s top money
managers are showing signs of pay restraint amid rising concern
the industry’s bank-style rewards could be a threat to financial
stability.

“Clawback” provisions to be applied to executive bonuses
from 2015 at three of London’s largest asset managers, Schroders
, Jupiter and Henderson, mean they can
recover rewards if evidence of misconduct is found.

Mar 20, 2015

Bank tax rise stokes pressure for Standard Chartered, HSBC to quit UK

LONDON (Reuters) – Asia-focused banks Standard Chartered (STAN.L: Quote, Profile, Research) and HSBC (HSBA.L: Quote, Profile, Research) could be tempted to abandon their London headquarters to avoid a jump in the UK bank tax set to cost them a combined $2 billion (1.36 billion pounds) a year, investors and analysts said.

Investors in both banks, but particularly Standard Chartered, have in the past encouraged their boards to consider leaving Britain, and this week’s jump in the UK bank levy is building pressure.

Mar 20, 2015

Bank tax rise stokes pressure for StanChart, HSBC to quit UK

LONDON, March 20 (Reuters) – Asia-focused banks Standard
Chartered and HSBC could be tempted to abandon
their London headquarters to avoid a jump in the UK bank tax set
to cost them a combined $2 billion a year, investors and
analysts said.

Investors in both banks, but particularly Standard
Chartered, have in the past encouraged their boards to consider
leaving Britain, and this week’s jump in the UK bank levy is
building pressure.

Mar 16, 2015

Activist investor Elliott seeks to shake up Alliance Trust

LONDON (Reuters) – Activist investor Elliott Advisors, the largest individual shareholder in Alliance Trust (ATST.L: Quote, Profile, Research, Stock Buzz), is seeking support from fellow shareholders for a boardroom shake-up at one of Britain’s oldest listed investment companies.

Elliott, which owns 12 percent of the investment trust, said in a statement it has nominated three new independent non-executive directors ahead of the company’s annual general meeting on April 29.

Mar 11, 2015

Prudential treads carefully with investors in hunt for new CEO

LONDON (Reuters) – Mindful of past missteps with investors, British insurer Prudential is meeting top shareholders to gauge their preferences for the successor to CEO Tidjane Thiam, who unexpectedly announced his departure this week.

The company, listed in London and Asia, said on Tuesday its highly-regarded chief executive would leave in May to join Credit Suisse — a move that has made waves across the global financial services industry.

Mar 2, 2015

Funds seek compliance health-check as regulators turn up heat

LONDON, March 2 (Reuters) – After watching a crack-down on
bankers for bad behaviour, British fund managers are calling in
lawyers to help to spring clean their businesses as the
regulatory spotlight turns towards their industry.

Before the financial crisis, fund management firms made
healthy returns from a bull market in equities, bonds and other
financial assets and there were few questions asked about the
level of fees charged or the service provided.

Nov 5, 2013

Ryanair investors berate O’Leary but fear his leaving

DUBLIN/LONDON (Reuters) – When one Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz) shareholder made a stinging attack on Chief Executive Michael O’Leary at the airline’s annual meeting for scaring off customers with his “bullying” and “macho” style, there was one thing he didn’t mention.

That O’Leary’s leaving was one of his biggest fears.

As Ryanair scrambles to reinvent itself and woo customers from higher-cost rivals to fill hundreds of new planes, there are growing concerns about the cost of what O’Leary recently described as his “personal character deformities”.

Nov 5, 2013

Insurer RSA says severe weather events to hit returns

LONDON, Nov 5 (Reuters) – Insurer RSA has warned
insured losses caused by severe weather in Europe and Canada are
“materially above assumptions” and full year returns to
shareholders are likely to suffer.

On Tuesday RSA blamed October’s severe Northern European
windstorm and similarly unsettled weather in Canada earlier in
the year for the hit to returns, which offset a 7 percent rise
in net written premiums to 6.7 billion pounds ($10.7 billion).