Management at the Royal Bank of Scotland (RBS) were aware of failings in its small business restructuring group, but turned a blind eye, according to a leaked report seen by the Mail on Sunday. The Financial Conduct Authority (FCA) investigated RBS‘s Global Restructuring Group (GRG) after small businesses claimed they were wrongly and to their…
Bowmans Senior Partner Richard Harney during the interview with Weekend Business. [Beverlyne Musili, Standard] The restructuring of Kenya Airways, concluded mid-November, has been billed as one of the most complex transactions in the region. Complex due to the number of companies and institutions involved. The deal saw transaction advisers shuttle from Africa to Europe and…
Orascom Construction is planning to restructure its US operations in order to reduce unnecessary costs, a senior company official told Daily News Egypt on Saturday. We have plans to improve our costs, specifically our US operation. Restructuring our business, there is a main goal on which we are focusing in the current stage, the source,…
BuzzFeed will restructure its business team, resulting in layoffs of about 100 people, and the transition of the company’s president to the role of senior advisor. Company CEO Jonah Peretti said in a memo Wednesday that BuzzFeed needed to shift away from direct advertising sales to more diverse revenue streams. The company will search for…
By FRED GITUKUMore by this Author Q. I am a HR manager, six months into a new job. I have observed that the previous manager did not practice diversity, since this company is dominated by two tribes. Is it fair to fire under-performing employees and re-structure the company to accomplish diversity? There is more to…
FORT WASHINGTON, Pa., Nov. 30, 2017 /PRNewswire/ — Walter Investment Management Corp. (“Walter” or the “Company”) (NYSE: WAC.BC) today announced that, as expected, the Company filed a voluntary chapter 11 petition in the United States Bankruptcy Court for the Southern District of New York (the “Court”) to execute a prepackaged financial restructuring plan (the “Prepackaged Plan”).…
Australia | 12:24 PM Aristocrat Leisure has hooked Big Fish, a US social casino app developer, which is expected to boost recurring revenue. The acquisition confirms a stronger focus on digital gaming. -Aristocrat’s exposure to digital gaming significantly increases-Difficult to predict when social casino apps will stop growing-Digital opportunities prevail, capital management potential despite structural…
| 2 hours ago In his retirement, Register will focus on building his Digital Engagement Center for the Prevention of Violence. Publicis.Sapient co-CEO and longtime agency executive Chip Register announced today that he will retire at the end of 2017. Co-CEO Alan Wexler will take over as the leader of the digital shop as the…
The Department of Justice trustee assigned to Toys R Us bankruptcy case has written a fiercely worded letter criticising the retailers plan to pay executives multimillion-dollar sums. In a statement, Toys R Us defended the motion as standard practice. A final decision will be made in court in December. Toys R Us bankruptcy proceedings are…
Welcome to this week’s Chutes and Ladders, our roundup of hirings, firings and retirings throughout the industry. Please send the good wordor the badfrom your shop to Angus Liu (email) and we will feature it here at the end of each week. Teva kicks out high-level executives in drastic structure shakeup TevaCSO Michael Hayden will leave. A shakeup…