Westpac has announced changes to the way it addresses customers wealth and insurance needs. Westpac chief executive, Brian Hartzer, said: We are committed to supporting our customers insurance, investment and superannuation needs as part of our service strategy. The changes were announcing today are about focusing our investment where we have genuine competitive advantage and…
Photo: Rawpixel.com/Shutterstock.com Potter Anderson & Corroon announced that it added three attorneys to its bankruptcy and restructuring practice. Christopher M. Samis and L. Katherine Good join the firm as partners, and Aaron H. Stulman joins as an associate. All three previously worked at Whiteford Taylor Preston. Samis handles corporate bankruptcy, business restructuring and other insolvency-related…
Thomas Cook has told shareholders that it may have been regularly in breach of its own borrowing limits, marking the latest setback for the travel company which is restructuring in the face of shifting consumer habits. The group said on Friday that the board had received external advice that its current interpretation of its financing…
Big changes sometimes can turn a mediocre company into a good one; thats the second theme of chapter five in Joel Greenblatt (Trades, Portfolio)s You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits. Put emphasis on the word big above. Thats the key to finding profitable corporate restructurings:…
Europes largest technology company SAP aims to more than double its market value to between 250 billion euros and 300 billion euros ($400-$480 billion) by 2023, chief executive Bill McDermott told a German newspaper. McDermott said SAPs market capitalisation had increased to 140 billion euros ($221 billion) from 45 billion euros ($71 billion) since his…
Sir Philip Greens Arcadia Group has drafted two restructuring specialists on to its board as it prepares to shut stores and cut pension payments as part of a company-wide overhaul. Jamie Drummond Smith and Peter Bloxham will join the boards of Topshop, Arcadia Group and its parent firm Taveta Investments, according to a corporate announcement…
Spectra began managing Dallas Kay Bailey Hutchison Convention Center at the beginning of April. (Courtesy Spectra) John Page adds oversight of convention centers, sponsorship sales Facility management services firm Spectra has restructured its business, which extends to the departure of John Wentzell, its former president. Wentzell, whose final day at Spectra was March 29, had…
Jamie Drummond-Smith, chairman of finance group Cattles, has been appointed interimchairman of Topshop, Topman, Arcadia Group, and its parent company Taveta. Peter Bloxham, former head of restructuring and insolvency at law firm Freshfields, has been appointed to the same boards as interim non-executive director. Both have been working closely with the boards in an advisory…
FRANKFURT (Reuters) – Credit Agricole needs to reduce costs at its investment bank but will stop short of restructuring, a senior official said as the industry faces slowing revenue. FILE PHOTO: A Credit Agricole logo is seen outside a bank office in Vertou near Nantes, France, February 11, 2019. REUTERS/Stephane Mahe/File Photo Xavier Musca, deputy…
FRANKFURT (Reuters) – Credit Agricole needs to reduce costs at its investment bank but will stop short of restructuring, a senior official said as the industry faces slowing revenue. FILE PHOTO: A Credit Agricole logo is seen outside a bank office in Vertou near Nantes, France, February 11, 2019. REUTERS/Stephane Mahe/File Photo Xavier Musca, deputy…