---------------------------------------------------------------------
Even the best laid plans of fund management titans can go astray when the British weather comes into play.
Diary hears that Andy Brough, the Schroders chief, fancied a sport of shark fishing while on holiday in Cornwall last Wednesday – but, owing to the winds and the tides, the trip was called off.
Happily, Mr Brough is now back at his desk in the City, where he has plenty of sharks of a different variety to sport with.
---------------------------------------------------------------------
To lose one senior executive may be regarded as a misfortune. To lose three, as Trap Oil managed in the space of a minute yesterday, looks like carelessness.
The North Sea oil and gas explorer has spent “considerable time” deciding how to “optimise the company’s future business”, and has concluded that shedding chairman Simon Bragg, CEO Mark Groves Gidney and COO Paul Collins is in the best interests of shareholders.
But VSA Capital chief Andrew Monk, the serial stockbroker who co-founded Oriel Securities with Mr Bragg, reckons the cull is a sign that Trap is up for sale. “Consolidation amongst some juniors is required,” says Mr Monk. “And it’s a lot easier without the chairman’s ego.”
---------------------------------------------------------------------
When one door closes, another door opens.
Following yesterday’s tale about the demise of the Commonwealth Business Council (CBC), Diary hears that Kamalesh Sharma, the Commonwealth secretary-general, is creating a new entity from the ashes: the Commonwealth Enterprise and Development Council.
Lord Marland, the CBC’s chairman, is also moving on. He is in the running to become chairman of the Premier League.
---------------------------------------------------------------------
No hyperbole was too great for the launch of Donald Trump’s latest mighty construction in Mumbai, India, yesterday.
The US tycoon’s soaring edifice not only “redefines the Mumbai skyline”, mortals were told. The Trump Tower Mumbai sets a new global standard for “uber-luxe” services, by laying on private jets for residents.
Even Trump’s job title has been burnished to match his “gleaming gold” tower. Apparently, the developer is “the creator of iconic developments across the greatest cities in the world”.
Diary bows down to his majesty.
---------------------------------------------------------------------
harriet.dennys@telegraph.co.uk
more
{ 0 comments... » City Diary: The tale of KMPG, the Sikh businessman and the missing holy books read them below or add one }
Post a Comment