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...Incentivising top echelons can also demoralise those on the factory floor, as TP ICAP discovered....
...But TP ICAP’s total equity value is just £1.5bn. Costs are still too high and still too much of TP ICAP’s business is done by phone, not electronically....
...On Monday, the Financial Conduct Authority imposed the penalty on TFS-ICAP — a brokerage formed in 2000 through the merger of the over-the-counter forex options divisions of TFS Group and ICAP plc — for...
...When it emerged that Gilbert had brought with him Icap founder Michael Spencer, Aberdeen’s Gordon Neilly and high flyers from Toscafund, AssetCo shares rose from 575p to nearly £9....
...Mr Breteau has pinned hopes on a company whose enterprise value is priced at up to 11 times adjusted Ebitda, more than twice TP ICAP’s current valuation....
...Also out on Friday morning: results from property portal Rightmove which unsurprisingly saw profits slide as the property market went into deep freeze during the pandemic, while interdealer broker TP ICAP...
...He combined Intercapital with Garban to form £3bn interdealer broker ICAP. He then brought its FX and bond platforms together to form £4bn electronic broker NEX....
...The creator of interdealer broker ICAP has variously “lost his shirt”, “been taken to the cleaners” and so forth....
...Job moves TP ICAP has appointed Joanna Nader as group head of strategy....
...Michael Spencer, the founder of financial company Nex Group and its predecessor ICAP and one of the City of London’s best-known entrepreneurs, will not be pleased....
...“We have also experienced increased levels of customer demand since Thomas Cook Group Plc entered into compulsory liquidation in late September” the group said in a trading update....
...By contrast, several of the four criteria were missing from the succession plans of other UK plcs....
...TP ICAP, the world’s largest interdealer broker and home to the City’s last shouty telephone traders, is due to move offices - all of a few hundred yards, from 155 Bishopsgate to number 135....
...At the rather more professional TP ICAP, however, the traders seem to be running to stand still....
...the integration of its ICAP purchase....
...Bill Michael UK Chairman and Senior Partner, KPMG John Phizackerley Chief Executive, TP ICAP Anne Richards Chief Executive, M&G Martin Gilbert Co-Chief Executive, Aberdeen Asset Management Jayne-Anne...
...How much do you need to know about UK broadcasting to judge 21st Century Fox’s improved £14-a-share offer for Sky plc?...
...At the rather more professional TP ICAP, however, the traders seem to be running to stand still. Read the rest of today’s Lombard column here....
...England 346 & 180 Australia 649-7 dec Australia won by an innings and 123 runs; and won the Ashes series 4-0 Prevailing sentiment: At least that’s over for four years… FastFT reports interdealer broker TP ICAP...
...Outsourcer Serco, wealth manager Rathbones and TP ICAP, the world’s largest interdealer broker, also suffered smaller rebellions on pay this month, with at least 10 per cent of their shareholders voting...
...As a result of the vote we ceased to hold office as auditor to SIG plc at the end of the AGM.”...
...Genus; Indivior; Oxford BioMedica; Sophos Group; Zotefoams Winner: Sophos Group Award sponsor: Berenberg Transformation of the Year Award Shortlist: AVEVA Group; Future; KAZ Minerals; Menzies (John); TP ICap...
...Michael Spencer: cash conundrum Michael Spencer’s 32 years running his own City brokerage, first ICAP and then Nex, will come to an end if CME, as expected, buys Nex in a £3.9bn deal....
...ICAP also gave a downbeat outlook on the fourth quarter, saying conditions would remain challenging....
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