Posted in Clara Furse, LSE, London, London Stock Exchange
Clara Furse is the Chief Executive of the London Stock Exchange (LSE) and a veteran in the world of finance.
The 50-year-old investment banker started her career in the City of London almost two decades ago. She has spent most of that time working in the cutting edge world of financial derivatives, such as futures and options, and gaining a range of top jobs along the way.
Jobs included, Group Chief Executive of Credit Lyonnais Rouse from 1998 to 2000; Director of LIFFE from 1991 to 1999, and Deputy Chairman from 1997 to 1999.
She was at Phillips & Drew (now UBS) from 1983 to 1998 and became a Director in 1988, Executive Director in 1992, Managing Director in 1995, Global Head of Futures in 1996. She is a Non-Executive Director of Euroclear plc, LCH.Clearnet and RICS Foundation.
She was appointed Chief Executive of the LSE in January 2001.
Posted in Credit Crunch, IMF, Money, Moneyizor, Wall Street
Moneyizor.com has a piece on the International Monetary Fund’s latest Global Financial Stability Report, in which it claims losses by financial institutions are set to rise to $1 trillion (£500 billion).
Moneyizor comments :
On the day when the UK’s biggest mortgage lender, the Halifax, reported a staggering 2.5pc drop in house prices in March alone, the IMF warns governments, central banks and regulators that they now face a test of their mettle unique in modern times.
… the Fund remarks, “The critical challenge now facing policymakers is to take immediate steps to mitigate the risks of an even more wrenching adjustment.â€
The report indicates that this downturn is about more than just liquidity, as some commentators are still arguing, but is rooted in “deep-seated fragilities†among banks with too little capital. This “means that its effects are likely to be broader, deeper and more protracted.â€
Posted in Capital Gains Tax, Clara Furse, LSE, London Stock Exchange, Vince Cable
Clara Furse, Chief Executuve of the London Stock Exchange, is under fire for a neat shimmy that will save her around £400,000 ($800,000) in tax.
The move transferred £5.1m ($10m) of shares in the LSE to her husband on the eve of the government’s changes to capital gains tax. It means she will pay only 10pc in CGT, instead of the new rate of 18pc which comes into force next Monday. This translates to a possible saving of £408,000 and an exposure to the new rate only on increases in the value of the shares.
Lib-Dem Treasury spokesman and political flavour of the month, Vince Cable, called it a “clever dodge”.
As the man said though, “No-one is under any obligation to help the authorities increase their take from one’s personal income”.
