Pension funds question investor acceptance of remuneration committees

whatsapp Pension funds question investor acceptance of remuneration committees Wednesday 18 January 2017 2:08 pm As such, a vote against the remuneration policy should in most circumstances be accompanied by a vote against the chair of the remuneration committee, if they have been in post for more than one year. Oliver Gill Investors are being urged to up their game in the debate over executive pay by taking a tougher stance on the committees that sign-off remuneration policy.The Pensions and Lifetime Savings Association (PLSA), which represents over 1,300 pension schemes and representing £1 trillion in assets, today revealed new guidelines on corporate governance policy. Share PLSA policy lead Luke Hildyard added: “Our new guidelines are designed to ensure the individuals responsible for a company’s executive pay practices are held to account.”Read more: In Theresa May’s exec pay crusade, the devil will be in the detailLast week, the world’s largest fund manager, Blackrock, wrote to the chairman of every FTSE 350 firm, urging them to cap executive remuneration.Blackrock said in its letter that it would only approve salary rises for directors if the wages of ordinary employees are increased proportionally.In announcing its new guidelines, the PLSA reiterated its position on the matter.“Provocative levels of executive pay are doing great damage to the reputation of British business. The failure of some companies to recognise stakeholder concerns on this issue is a major worry for pension funds as investors,” said Hildyard. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictUndoTheFashionBallAll The Reasons It Won’t Last With Meghan – According To HarryTheFashionBallUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoItsTheVibeThe Cutest 1980’s Stars Are Now In Their 60s, This Is Them NowItsTheVibeUndoSportPirateMeet The Woman Catherine Bell Is Dating At 52SportPirateUndo whatsapp Read more: Aberdeen calls for greater shareholder powers over exec paySimilar to other investor groups, the PLSA has previously raised concerns over the pay gap between executives and ordinary workers.Serious failureBut it highlighted that while large proportions of its members had voted against pay levels, only a small number opposed the re-election of the chairs of oversight bodies that approve exec pay: the remuneration committees.”If the process of engagement prior to the AGM vote fails to produce a remuneration policy that shareholders can support, this represents a serious failure on part of the chair of the remuneration committee in the most fundamental aspect of their role,” the PLSA report outlined.  read more

Is Ireland Brexit-ready? Inside Dublin’s bid to win financial services power from London

Monday 30 January 2017 5:00 am Share Is Ireland Brexit-ready? Inside Dublin’s bid to win financial services power from London It was reported last week, for example, that Barclays has settled on Dublin as its main hub inside the EU, with 150 jobs moving to the city.Read more: How Dublin is quietly winning the Brexit battleCharm offensiveAlthough not confirmed by the bank, news of Barclays’ post-Brexit plans will be welcomed by the Irish government, which has been working furiously in recent months to lure parts of the UK’s financial services market to the nation.Ireland’s charm offensive intensified last week when senior politicians addressed financial services bosses from across Europe and the world.Speaking at the European Financial Forum event at Dublin Castle last Tuesday, Prime Minister Enda Kenny declared Ireland “Brexit-ready”. Riding the airport shuttle bus through Dublin’s financial services centre on a sunny January afternoon, and looking forward to a pint of Guinness at the journey’s end, the prospect of the City of London losing jobs to Ireland doesn’t seem too upsetting.Located to the east of the city on the River Liffey, the financial centre is a home for the offices of Citigroup, PwC and BNP Paribas. And, with the UK heading for a hard Brexit, a number of other financial services groups could be heading for the Irish capital. William Turvill “Ireland is, and will continue to be, a committed and enthusiastic member of the European Union,” he reassured attendees. “Our people understand the many benefits that EU membership brings to our country. My message to you is that Ireland’s IFS [international financial services] sector is Brexit-ready. We are well prepared for the changes that Brexit will bring.”On the same stage as executives from Blackrock, Citigroup, Credit Suisse and JP Morgan, financial services minister Eoghan Murphy and Mary Mitchell O’Connor, minister for jobs, enterprise and innovation, pitched in as well. And finance minister Michael Noonan also made a surprise appearance at the end of the day.The message from Dublin, in a nutshell, was: We did not want Brexit. It presents challenges for Ireland. The UK will remain a global financial services hub. But Ireland’s financial services sector stands to gain from the UK losing access to the Single Market.What does Ireland want?In 2015, the Irish government set out ambitions to grow its IFS sector from 35,000 to at least 45,000 people under a scheme called IFS 2020. And the UK’s vote could provide a significant boost.“We’d be confident of getting the 10,000, and everything else that we get above that will be seen as a plus,” financial services minister Murphy tells City A.M. “There were plans to launch [IFS 2020] abroad. But once Brexit happened, we basically doubled or tripled the number of cities that we were going to hit, and the number of things that we were going to do when we were there to maximise the opportunity to talk about Ireland’s offering post-Brexit.” whatsapp Noreen Doyle, Credit Suisse vice chair, also indicated that her firm is in “the early stages of looking” at options. “Like other banks that are non-EU members, we do have to look at alternatives outside of the UK,” she said.Doyle refused to be drawn on which locations were being looked at, but Credit Suisse has experience in Ireland, having shifted prime brokerage resources from London to Dublin in 2015. She added: “So I can say that we’ve been very, very pleased with the reception that we have had in Ireland.”Read more: “Brexit-ready” Ireland sets out plans for financial services grabIs Ireland ready?Dublin is a pleasant, friendly city, the culture will be familiar to Londoners, and Guinness really does taste better in its home town. But why should companies choose the Irish capital over Frankfurt, Paris or Amsterdam?“In many ways, we think we’re an obvious choice for a firm located out of the UK,” says Murphy. “Because of things like the English-speaking language, member of the Eurozone, common law jurisdiction, similar labour laws.” Ireland is also working on improving Dublin’s school options for international incomers, building more housing and developing its commercial real estate offering.Murphy also points to Dublin’s transport links, and its close proximity to London. “We have the second busiest air route in the world between Dublin and London, it’s the busiest in Europe,” he says. “So all these factors make it so easy to relocate a portion of your business into Dublin in a seamless way to still be able to access the Single Market.”After a return flight from City Airport to Dublin, and 24 hours in the city, there is at least one hole I can pick in this argument: a train, rather than the shuttle bus or more expensive taxi option, from the airport to the centre of Dublin would be nice.“A train would be great,” admits Murphy. He says the planning and permission is in place to build one but that the funding has not yet been secured. Murphy also claims the airport bus takes 15 minutes to get to the financial services centre.In my experience, it took a little longer than that. Maybe half an hour. But this is only a small detail, and it’s unlikely to create much of a dent in Ireland’s bid to win financial services power from London. Tuesday’s conference was co-hosted by IDA Ireland, a government agency which aims to encourage international firms to invest in the country. While ministers like Murphy the nation’s push for expansion, IDA Ireland is working on the technical details behind the scenes.Kieran Donoghue, IDA Ireland’s head of IFS, reveals that the organisation has received more than 70 queries from financial services firms since June. “We’re not being opportunistic about this,” he tells City A.M. “We did not go to London in advance of June and say to groups: ‘Come to Dublin.’ We did not want a Brexit. We just didn’t believe it was in the best interests of this jurisdiction.”Who’s going?The Irish government is unlikely to be waiting long to find out whether other companies will follow Barclays into Dublin. “The [large, high-profile] companies have indicated to us that they have to take a decision by the summer,” says Donoghue.Don’t just take his word for it. James Cowles, Citigroup’s chief executive for Europe, Middle East and Africa, indicated at the conference that his firm is in the process of looking for a new home for its broker-dealer business. The firm moved the HQ of its retail and commercial bank from London to Dublin in 2015.He said the bank “will be making a decision in the first half of this year”, adding: “It’s a decision that every bank has to make and they need to do it in the first half of this year.” whatsapp read more

There’s no case for cancelling Donald Trump’s state visit to Britain

Read more: Starbucks to hire 10,000 refugees in response to Trump’s Muslim travel banThis list of seven countries itself isn’t Islamophobic. There are many more countries in the world with larger Muslim populations than these seven nations, and it is difficult to deny that objective connections with terrorism led to the Obama administration drawing the list up. It’s not unreasonable to want more rigorous tests of individuals coming from certain nations, and to delay their entry until those tests are in place.Remember that the Trump campaign pledge was to halt entry to the US for “all Muslims”. They won the election and could have argued that they had a mandate for such a policy. This really would have been discriminatory – and it hasn’t happened. Shouldn’t the left be welcoming the significantly more measured steps they’ve actually taken in office? Equally, shouldn’t people be parading against the 17 countries that actually do practice religious prejudice in their migration policies, by denying entry to Israelis and even those who’ve been to Israel?Read more: US banking bosses rally behind staff after Trump travel banWe have issued an invitation to Trump. We should honour it. There’s no real reason to do otherwise. To fail to do so would – there’s no more accurate term for it – be rude. A state visit is one of the great soft power tools in the British arsenal; it’s the role of the British PM to use these tools to get closer to foreign heads of government, our most important ally the US foremost among them, and any PM would do so. There’s no case for cancelling Donald Trump’s state visit to Britain “But he’s uniquely awful,” some reply, pointing most recently to his executive order on visas as proof. He’s so bad, they think, that he shouldn’t come to the UK on a state visit. Let’s examine that claim.Read more: A petition against Trump’s UK visit now has one million signaturesThe list of seven countries to which this order applies was drawn up under President Obama. Admittedly, he didn’t deny their citizens entry to the US (instead, his list was to deny them access to the Visa Waiver Programme), but he did bomb a lot of them.Here’s one example. With American support, US allies have systematically bombed Yemen. Human Rights Watch’s MENA team points to a single attack, the bombing of a funeral, in which some 140 died and a further 500 were injured. I’m the first to agree that it must be frustrating to have one’s visa temporarily delayed. But which is worse – being bombed (even by someone with the backing of a Nobel Peace Prize winner) or having one’s travel delayed or even denied?Now our Trump-hating friend, seeking to continue to find reasons to resent the new President, says, “Isn’t that an extreme point? What about migration, an issue that affects many more people than bombing?” On that broader test, in his eight years in office, President Obama deported more immigrants than any other President in history. But the Deporter in Chief was, rightly, welcomed here without a murmur about that on his four state visits. Monday 30 January 2017 4:15 pm whatsapp Theresa May did not ask for the hand she has been dealt. She did not campaign for Brexit. She had nothing to do with Donald Trump’s election. Nevertheless she must deal with both – and I am proud of the way she is making the most of the situation she’s in, for the good of our country.Whether you were for or against Brexit, given that it’s what we’re now doing, it’s surely obvious that it’s better to have a President who’s positive about it than one who’s negative. Whether you were for or (like many Brits) against Trump, now that he’s President, surely it’s better for our PM to get on with him than not. Alex Deane Lastly I note that there is an anti-Trump petition. Our government will be right (even if the 1m-plus “signatures” are all genuine) to ignore it, just as many other seven-figure signature petitions on issues of substance like the return of Jeremy Clarkson to Top Gear were ignored.The Trump policy has been poorly introduced. That it shouldn’t apply to residents of the US should have been decided at the beginning. That significant exemptions will apply (most especially to those who’ve assisted the US military in their countries but also, according to the Foreign Office, to many dual nationals) should not have been left in doubt. The hash of an introduction will not be the last mistake the new administration makes.But as the above hopefully shows, it’s hardly a basis for snubbing the leader of the free world. whatsapp Share read more

Standard Life Aberdeen shares slump after £109bn Scottish Widows mandate is axed

Share Standard Life Aberdeen shares slump after £109bn Scottish Widows mandate is axed While almost a fifth of Standard Life Aberdeen’s assets look like they might be walking out the door, this only equates to five per cent of revenues, as these investment services are relatively low margin. It’s also worth noting the sort of funds involved are not run by the star managers of the stable, rather they are the sort of strategies that feature in older pension contracts sold under the Scottish Widows banner. whatsapp Thursday 15 February 2018 11:14 am Standard Life Aberdeen was today dealt a blow after being stripped of £109bn of assets it manages on behalf of life insurer Scottish Widows.The newly merged fund management behemoth said it would lose up to five per cent of annual revenues and take a £40m impairment charge after Scottish Widows’ owner Lloyds Bank pulled the trigger on a “material competitor” clause. “Negotiations had been ongoing during the six-month transition period to broker a new agreement between the two companies, with Lloyds intent upon seeing a reduction in fees on their investment or a transferral of a chunk of SLA’s pension bulk annuities business,” said Accendo Markets analyst Henry Croft.”However, just a day after the expiry of the agreement, Lloyds has jumped at the opportunity to remove a significant chunk of the all-Scottish asset manager’s assets under management, with the newly-merged company losing its largest client half a year into its post-merger life.”Hargreaves Lansdown senior analyst Laith Khalaf said the move was a blow for Standard Life Aberdeen but had “been on the cards ever since the merger”. Standard Life Aberdeen shares fell over seven per cent in trading today.A review was kicked off six months ago by Scottish Widows and Lloyds Bank following the merger of Standard Life and Aberdeen Asset Management.Scottish Widows chief executive Antonio Lorenzo said: “It is now appropriate to review our long-term asset management arrangements to ensure they remain up-to-date and that customers continue to receive good service and investment performance.“Therefore, we will begin an in-depth assessment f the market to identify a long-term strategic partner, or partners, to manage the current £109bn of assets.”The co-heads of Standard Life Aberdeen Keith Skeoch and Martin Gilbert said they were “disappointed” by Scottish Widows’ decision. whatsapp Read more: Lloyds snaps up £15bn Zurich workplace pensions arm “We will be discussing the implications of this with Lloyds Banking Group and Scottish Widows,” they said in a statement.Scottish Widows said it would welcome Standard Life Aberdeen to re-tender for the mandate if it was “able to resolve the competition issue”.Read more: Standard Life Aberdeen had £23bn of net outflows this yearMiddle groundIt is understood the duo are at odds over whether Standard Life’s merger with Aberdeen Asset Management has created a “material competitor”.Sources at Standard Life Aberdeen were confident some kind of “middle ground” could be found, allowing the FTSE 100 firm to recapture at least some of the assets relinquished. Oliver Gill read more

Russia hits out at ‘unacceptable’ US sanctions and warns of retaliation

Russia hits out at ‘unacceptable’ US sanctions and warns of retaliation Catherine Neilan Read This Next20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The WrapIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamourTop 5 Tips If You’re Losing Your EyebrowsVegamourWhat Causes Hair Loss? Every Trigger ExplainedVegamourJim Cramer Calls for Billionaire Tax: ‘This Society Has to Start AddressingThe WrapSmoking and Hair Loss: Are They Connected?VegamourHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThis Is How Often You Should Cut Your HairVegamourRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap Thursday 9 August 2018 11:59 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThis Woman’s Obituary Was So Harsh, Her Son Was Left ReelingTotal PastUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It LoveUndoNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyUndo Share “The US administration has thrust all forces on complicating the situation further still,” she said, according to the Russian news agency Interfax.“The calculation of those behind the latest episode in the so-called Skripals case is simply obvious: to attempt, with all truths and untruths, to keep afloat this profitable [for them] anti-Russian subject as a tool of continuing to demonise Russia.”The Skripal case was a “pretext” for “new portions of restrictions”, she claimed.Earlier in the day, the Kremlin hit back at the “categorically unacceptable” measures, describing them as “absolutely illegal”. A spokesperson argued Russia “could not have any connection to the use of chemical weapons”.The intervention came as the rouble-dollar rate reached 66.3 on the Moscow Stock Exchange. On Tuesday, the rouble rate had stood at 63.4.The share prices of major Russian firms, including Aeroflot and Rusal, also fell today. whatsapp Russia is planning retaliatory measures against sanctions imposed by the US over the poisoning of former spy Sergei Skripal, which caused the rouble to fall to its lowest level since November 2016 today.Foreign ministry spokeswoman Maria Zakharova said today that Moscow was starting to work on measures following Washing­ton’s decision to impose sanctions, which she claimed were using the Salisbury attacks in March as a pretext. whatsapp read more

Hargreaves Lansdown warns of ‘industry-wide slowdown’ as assets grow 3 per cent

first_img Share Thursday 11 October 2018 4:00 pm August Graham Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoBetterBe20 Stunning Female AthletesBetterBeUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoWTFactsHe Used To Be Handsome In 81s Now It’s Hard To Look At HimWTFactsUndoJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAUndozenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersUndo The investment platform grew quarterly revenue 16 per cent to £121m compared to last year.Read more: UK banks risk being downgraded in no-deal Brexit situationIt added net new business of £1.3bn during the quarter, driven by investment in digital marketing and 29,000 new clients, taking the total to 1.1m.Assets under administration, including independent savings accounts, pensions and shares, rose to £94bn.Active savings, its cash marketplace service, added three new banks to its portfolio, to give customers better interest rates and access to their money. Hargreaves Lansdown warns of ‘industry-wide slowdown’ as assets grow 3 per cent center_img Hargreaves Lansdown weathered an “industry-wide slowdown,” adding £2.5bn in assets in the last quarter as the company struggled with uncertain markets and investors. Tags: Company Hargreaves Lansdown whatsapp whatsapp Chief executive Chris Hill said: “I’m pleased to report a solid start to our financial year for growth in clients, net new business and revenue.“The past quarter has seen an uncertain market environment and weak investor sentiment resulting in an industry-wide slowdown in net retail flows.“Despite this backdrop, we believe the strength of our business model positions us well for when sentiment improves.”Read more: Peter Hargreaves: Government hasn’t got ‘a clue’ on BrexitShares had dropped 3.8 per cent by mid-afternoon.The company has lost 17.5 per cent of its market value since a five-year peak late last month. last_img read more

ScS Group ends talks to buy Sofa.com leaving Mike Ashley in the driving seat

first_img Share James Booth whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Friday 1 February 2019 9:11 am ScS Group ends talks to buy Sofa.com leaving Mike Ashley in the driving seat Home furnishings retailer ScS Group said today it had ended talks with furniture retailer Sofa.com, leaving the way clear for Mike Ashley who is reportedly putting together a multi-million pound bid.ScS said today it is “no longer in discussions regarding a potential acquisition of the business and assets of Sofa.com”. whatsapp Sky News reported that Ashley, who runs Sports Direct, was one of two bidders with ScS for Sofa.com which was put up for sale last month.LGT European Capital took control of the business last year, but has now engaged KPMG to find a buyer for it.The business is thought to have been affected by the collapse of House of Fraser where it had a number of concessions.ScS, said in October it would stop selling its products at House of Fraser stores from January, saying the partnership had ceased to be beneficial since Ashley bought the failed department store chain.Ashley is reportedly in talks to acquire music retailer HMV which went into administration at the end of last year.Ashley’s retail footprint has grown by a third in the last year, with his dealmaking taking his retail portfolio to almost 30m square feet (sq ft), rising from just under 22m sq ft at the beginning of 2018, according to new figures from Colliers International/Radius Data Exchange/GOAD. Tags: House of Fraser Mike Ashley Peoplelast_img read more

Conservative MP quits Jacob Rees-Mogg’s Eurosceptic ERG for putting Brexit ‘at risk’

first_img whatsapp Joe Curtis Tags: Brexit The Prime Minister is speaking with German Chancellor Angela Merkel today in Berlin before meeting President Emmanuelk Macron in Paris.Then she will visit Brussels tomorrow for the EU summit, at which she hopes to secure a Brexit delay to 30 June.Read more: EU would move ‘extremely quickly’ to back a new customs union, says BarnierLast night parliament passed Yvette Cooper’s bill to stop the UK leaving the EU with no deal on Friday night, which quickly received royal assent to become law. A Tory MP has resigned from Jacob Rees-Mogg’s European Research Group (ERG), claiming “hardcore” Brexiters are endangering their own goal of leaving the EU.Read more: Brexit delay on the cards as Tories gear up for European elections Shropshire MP Daniel Kawczynski accused an ERG “hardcore elment of ‘Unicorn’ dreamers” of “now actually endangering Brexit”.Kawczynski, who twice voted against Prime Minister Theresa May’s Brexit deal only to back it at the third time of asking, claimed hardliners were putting Brexit at risk.Their stance could “lead to possibly no Brexit at all”, he told BBC Radio 4’s Today programme.Instead the ERG’s opposition to May’s deal has been “part of the problem in actually getting the withdrawal agreement across the finishing line”, he said. center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyMisterStoryWoman files for divorce after seeing this photoMisterStory Tuesday 9 April 2019 9:03 am Conservative MP quits Jacob Rees-Mogg’s Eurosceptic ERG for putting Brexit ‘at risk’ Sharelast_img read more

For a brand like Nike, nothing beats an athlete with a crazy dream

first_imgTuesday 23 April 2019 8:08 am Unlike its peers, Nike stuck with Woods when he was in the doldrums – going through major back surgery and enduring another global embarrassment when he was caught asleep at the wheel of his car, under the influence, and his mug-shot was broadcast around the world.Nike, however, was prepared to play the long game.As the clip shared straight after the Masters victory showed, this was a brand that believed in Woods’ life-long mission to surpass the Nicklaus record. And this was the moment that its long-term perspective paid off.Woods’ final round at Augusta was reported to have been worth $22.5m of additional brand exposure for Nike, according to sponsorship analytics firm Apex Marketing. Nike shares were up 0.5 per cent in pre-market trading by the next day.But more than that, this victory reinforced – in the most thrilling way – Nike’s unrivalled association with elite performance and an athlete’s determination to “just do it”. Nicklaus’ “18” was the crazy, impossible total that Woods set out to beat when he was just three years old. Within minutes of his win last Sunday, Nike shared an ad from its “Dream Crazy” campaign featuring an infant Woods mouthing the words “I’m going to beat Jack Nicklaus”.For Nike, this was the moment that its 23-year relationship with the golfer came full circle.At the height of his career, Woods was making $110m per year as the world’s highest paid athlete, including $30m from Nike, according to Forbes. But after the sex scandal that shattered his reputation in 2009, sponsors couldn’t dump him quickly enough.AT&T, GM and Gillette all terminated their deals worth tens of millions of dollars within weeks, because he was no longer a good representative for their brands.Accenture – which had sponsored Woods for six years and used his image “as a powerful metaphor for business success” – determined that he was no longer the right fit for its advertising. As Tiger Woods rolled in his final putt, securing victory at Augusta and claiming his long-awaited fifteenth major title, Nike was ready and primed for the magical moment.Some 14 years after his last victory at the Masters and 11 years after his last major title, Woods now stands just three behind the greatest golfer in history, Jack Nicklaus, whose unassailable record of 18 majors is now tantalisingly within reach. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleUndoDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionUndoPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemUndoDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndo whatsapp City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. Opinion For a brand like Nike, nothing beats an athlete with a crazy dream center_img Over the years, Nike has had a string of issues with athletes falling from grace – Lance Armstrong and Marion Jones to name but two – and has had to address very public failings of its own.But its recent work with Colin Kaepernick and Serena Williams, taking a proactive stance on societal issues such as race and sexism, has been good for business.Its share price has been climbing, and surged to an all-time high of $88.73 last week.Nike has encouraged athletes to “Dream Crazy”, exhorting everyone to embrace goals that may seem unattainable. In that, it fittingly echoes Apple’s iconic “Crazy Ones” campaign from 1997.For entrepreneurs – schooled in the idea of performance, dedication, goal-setting, and risk-taking – Nike and Apple are often held up as benchmarks of business success.Steve Jobs famously cited Nike as “one of the greatest jobs of marketing the universe has ever seen”. He admired Nike’s clarity of message and inherent understanding of who and what it was for – the clear sense of purpose built into the founding vision of the business.And so we come back to Woods. While other sponsors dumped the golfer, fearing any association would weaken the brand, for Nike there was a stronger connection. Woods’ sky-high goal was consistent with its stated mission “to bring innovation and inspiration to every athlete in the world”.Whether Woods’ win is a personal redemption story or a simple case of a world-class athlete sticking it to all those that had written him off, the tale of the chase to “18” is what gave this victory such an amazing sense of drama.More than just a comeback, it’s a race resumed – and from a brand perspective, Nike is out in front. And who could blame them?The decade of injury that followed – characterised by poor performances, major surgery, further scandals, and the ignominy of falling outside the top 1,000 players in the world – suggests that these brands were all wise to cash-in when they did.But Nike, as it often does, saw things differently.“There’s always a risk. One of the things we always try to do when we have a big endorsement is check out the character and the pattern of the individual. But you’re not going to get it right all the time, and if you’re going to be in the business you have to recognise that.”So said Phil Knight, founder and former chief executive of Nike, in 2009 as the storm was raging around Woods. whatsapp Nick Giles Giles Tags: Trading Archive Sharelast_img read more

City Moves for 15 August – Who’s switching jobs?

first_imgThursday 15 August 2019 12:11 am City Moves for 15 August – Who’s switching jobs at Moss Bross, Mullenlowe Group and Quinn Emanuel? by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeStuff AnsweredBest Mattress Deals for Seniors 2020Stuff AnsweredWolf & ShepherdNFL Star Rob Gronkowski Loves These ShoesWolf & ShepherdBill CruncherArizona Drivers With No DUI’s Getting A Pay Day This Month (Check If You Qualify)Bill CruncherUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthElvenarIf You Are Above 30, this Fantasy Game is a Must-Have. No Install.ElvenarSenior Cars | Search AdsThe Best SUVs for Seniors (The Price Might Surprise You)Senior Cars | Search AdsGraber BlindsWindow Treatments So Sophisticated, It’s Hard to Believe They’re so AffordableGraber Blinds Moss Bros Quinn Emanuel Urquhart & Sullivan Today’s City Moves includes Moss Bross, Mullenlowe Group and Quinn Emanuel. Men’s tailoring giant Moss Bros has appointed Avis Darzins (pictured) as a non-executive director, effective 1 September 2019. Moss Bros has announ­ced also that Maurice Helfgott, in line with good corporate governance following nine years’ service, will no longer be senior independent non-executive director from 1 October 2019, when the role will be handed over to non-executive director Alex Gersh. Maurice will stay on the board until the annual general meeting in May 2020. Avis joins from Accenture, where she was for eight years as a partner focusing on the retail and consumer products sector. She delivered successful engagement with many well-known national and international brands such as Gap, where she delivered the infrastructure to enable it to launch its Banana Republic brand on to the UK high street. While also at Accenture she led numerous projects for Sainsbury’s, including shaping and leading the first phase of a performance improvement programme focused on delivering the customer promise in the retailer’s top 50 stores. Avis also founded her own management consulting practice in 2013 following four years as director of business transformation at British media and telecoms corporation Sky. Main image credit: Getty Sharecenter_img Danny Donovan has been appointed UK chief executive of Mullenlowe Mediahub – the global plan­ning and buying arm of marketing commun­ications network Mullenlowe Group. Starting 1 November, Danny will oversee the UK Mediahub team, which specialises in challenger brands and reinventing how to reach consumers. He will form part of the global leadership team and work closely with John Moore, global president of Mediahub, and Jeremy Hine, the chief of Mullenlowe Group UK. Danny has a career spanning 30 years in media agencies. Most recently, Danny spent almost nine years in the Mediacom UK leadership team, and has numerous awards to his name including those for IPA and Cannes. whatsapp Mark McNeill will be joining Quinn Emanuel as a part­ner in the business ligation and arbitration firm’s New York office. For two decades, Mark has represen­ted firms and states in num­erous commercial and invest­ment treaty arbitrations on issues such as in­t­el­lectual property, technology, nuclear constr­uct­ion, pharma­ceuticals, oil and gas, taxation, mining and ins­urance. Mark joins from Shearman & Sterling in London, where he was a part of the internat­io­nal arbitration practice. Before joining Shearman & Sterl­ing, Mark was an attorney-adviser in the office of the legal adviser of the US Department of State, where he rep­r­es­ented the US in investor-state arbitrations under the investment chapter of the North American Free Trade Agreement. Mullenlowe Group UK whatsapp City MovesSend your appointments to [email protected] last_img read more