Thursday, 20th November 2008

 

25 July 2008 - Press Briefing

St James's Place under spotlight amid takeover talk

St James's Place, the high-end UK wealth manager, was in focus on Thursday amid market rumours that it was being courted by suitors and may have received a takeover offer, according to a report in The Daily Telegraph.

St James's Place, in which HBOS controls a 59% stake, closed down 16¼ at 231p, giving it a market capitalisation of £1.1bn (€1.4bn). The company will declare interim results next week.

The news comes as HBOS has been trying to divest non-core assets to bolster its capital ratio, said the report.

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Mayfair goes Modern

Sebastian + Barquet, a three-year old design gallery based in New York and Chelsea, is opening a new gallery showing museum quality pieces in Mayfair next month, the first in London to focus on international modernism from the 1940s to the 1960s. Its opening exhibition is dedicated to American modernist design and is curated by celebrated architect Eric Parry.

Rich Monitor

Barclays Wealth forecasts 400,000 Indian dollar-millionaires

Barclays Wealth on Wednesday predicted the number of dollar-millionaires in India to grow to over 400,000 by 2017, making it a leading world wealth market, according to a report in The Economic Times of India.

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