Business Secretary Vince Cable wants the three former HBOS plc directors who were responsible for the bank's failure to be stripped of their current board roles and banned them from running a financial company in the future.
Firm Management
HG Data Company Names New President
HG Data's new President is Tim Baskerville. In a press release, HG Data Company announced the appointment of Tim Baskerville as President. Since 2011, Baskerville had been on the Board of Directors of HG Data.
Carlyle Group Establishes Indonesia Office
The Carlyle Group establishes its Indonesian office and taps a former UBS banker to head it. In a clear sign of expansionist motives, the Carlyle Group LP has launced an Indonesia office and has tapped a former banker of UBS to head the firm's operations in the country.
Carlyle Group Purchases Shanghai Office Address
Carlyle Group purchases Central Plaza for US$267 million from Forterra Trust. Private equity giant the Carlyle Group has announced the acquisition of the Central Plaza for US$267 million.
KKR Appoints New Leadership in Japan
KKR appoints Hirofumi Hirano as CEO and MD while former CEO and MD Shusaku Minoda becomes chairman.
Latest News
German Deutsche Telekom plans to amend the terms of a proposed merger between its T-Mobile USA and MetroPCS Communication, a local company, sources said.
Allianze, through its CIO criticized the handling of block sales of firms resulting in retained shareholdings by the bank.
MetroPCS is urging its shareholders to approve its merger with Deutsche Telekom AG's unit T-Mobile USA Inc. amid criticisms.
Fund manager of BlackRock China forecasts futures for investors. According to a fund manager at BlackRock, China's industrial stocks provide good investment opportunities on select markets, such as steel mills to cement producers.
CalPERS changed its portfolio from Dec 2012 to Jan 2013, focusing on bonds instead of commodities. CalPERS or the California Public Employees' Retirement System has decreased its investments in commodities futures at the start of 2013.
The Chesapeake Energy Board picks COO Dixon as interim CEO. Chesapeake Energy Corp chose COO Steve Dixon to become its acting CEO after co-founder Aubrey K.
Due to internal issues and weak market conditions, Toys R Us withdrew its IPO proposal. Toys R Us Inc formally withdrew its initial public offering proposal last Friday.
Clark Hill PLC and Thorp Reed & Armstrong LLP announced that they will merge to create a combined firm that would help them provide more value to clients.
ISS has advised its shareholders to reject the proposed merger as it is biased against T-Mobile allowing more options for MetroPCS in the long run.
