Posted in Clara Furse, LSE, London, London Stock Exchange on April 29th, 2008
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 LSE, London, London Stock Exchange, New York, Sarbanes-Oxley on November 8th, 2007
CurrencyTrading.net has an interesting piece titled, 12 Surprising Implications of London’s Replacing New York as the World’s Financial Center by Jessica Hupp.
Here’s just one of the “implications” :
“Financial regulation: After scandals like Enron, the financial industry is more heavily regulated. The Sarbanes-Oxley Act required lots of tightening of financial controls. As a result, it’s less attractive to do business in a country where every transaction is scrutinized.”
Read the whole article here.
Posted in Financial Centre, LSE, London, London Stock Exchange on October 18th, 2007
In a survey of financial executives by the Global Financial Centres Index, London scored well ahead of its rivals, and even extended its lead.
London did better than New York on an array of topics, including personnel, business environment, market access, facilities and competitiveness.
The City scored 806 out of 1000, compared with nearest rival New York’s 787. Trailing behind came Hong Kong, Singapore, Zurich and Frankfurt.
Again London is reaffirmed as the world’s financial capital.
Posted in LSE, London, London Stock Exchange, Nasdaq, New York, New York Stock Exchange, Sarbanes-Oxley on July 11th, 2007
American regulatory filings show that 35 foreign companies have delisted from American stock exchanges since April.
Rising costs, over-regulation and a culture of litigation have been cited as reasons for the exodus. In addition, US investors are preferring to buy stocks directly in overseas markets rather than from secondary listers in America.
British Airways, Danone and ICI have all described multiple accounting standards, lower trading volumes and near-draconian compliance under Sarbanes-Oxley law as reasons for turning away from secondary listings.
London is seen as the main beneficiary of this trend.
