Monday, 23rd November 2009

 

10 April 2009 - Press Briefing

Diamond set for £4.7m windfall as CVC seals iShares buyout

Barclays has finalised the sale of its iShares asset management division to CVC Partners for £3bn (€3.3bn), a move which could mean a £4.7m windfall for Bob Diamond, the UK bank’s president, according to a report in The Times, London.

Barclays, which would provide a $3.1bn (€2.3bn) debt financing facility to the buyout firm, has reserved the right to solicit higher bids from rival suitors over the next 45 days.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

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