Sunday, 8th November 2009

 

12 January 2009 - Press Briefing

Beleaguered New Star attracts Schroders interest

Schroders has made an offer, believed to be worth in excess of £100m (€113.4m), to acquire New Star Asset Management, according to a report in The Sunday Telegraph, London.

Along with Schroders, other rivals - Neptune Investment Management, Henderson and at least one private equity player - are understood to have made indicative bids, ahead of last week's deadline. Aberdeen and Hellman & Friedman are also being cited as potential suitors.

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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

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

More from Wealth Business

  1. RBS Posts Loss, Cautious Outlook
  2. Tax amnesty proves a hit among Italians
  3. Italian tax amnesty on course to exceed repatriation target
  4. Prospective suitors eye Austrian wealth manager
  5. Analysts to press UBS over turnaround strategy for wealth unit

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