The Banking and Strategy Initiative

Chillin' out till it needs to be funded

London, London! Philip Hampton stays away from trouble, Einhorn in deep

RBS regulates senior pay

The city’s cry fould over RBS bonuses to Stephen Hester and chairman Philip Hampton brought red David Einhorn was caught for selling  to the

RBS - St Philips Place, Birmingham - glass sli...

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cheeks of the chairman, as before review by 83% owner UKFI, Sir Philip Hampton gave up his entitlement to a 5m defered share award coming due in three months. While  the share award would have yield negative value on current prices, the government would have likely shot it down too. The Award to the CEO Stephen Hester, worth GBP 6 mln would not have come due anyway as Financial targets have not been met. The report on why RBS could not fly came through last month even as CEO Hester walked away with bonuses, while the report found the senior management of the bank lacking without personal indictment of the CEO and Chaimran.

Investment Banking Chief Hourican also is due almost 29 mln in shares and options awarded to him as defered comp in April 2009.

David Einhorn does a Sokol

Fund manager David Einhorn and his funds will pay the now defunct FSA GBP 7.2 bln in fines, Einhorn personally shelling out GBP 3.6 mln. Einhorn walked out of a meeting with Pub operator Punch Taverns in April 2009, operationalising a 11.65 mln share sale onthe phone to dilute his stake by a third to under 9% after the teleconference revealed Punch Taverns will take to the Capital markets again to raise money for the beleaguered operator. Obviously Einhorn would klike to stay with his management decisiona s sagainst insider trading but is right now paying fines instead. The Greenpoint funds saved on a 29% fall in the pub operator’s shares after the announcement was made public.

The Initial Public Offering (IPO) Prospectus f...

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Facebook’s $10 bln IPO

Facebook’s $10 bln IPO is closer to a May opening, with Zuckerberg’s new ly recruited IPO team filing as early as Wednesday according to London’s According to the FT, the shares are aklready trading in second market and sharespost at a $80 bln valuation and thus the company’s $100 bln valuation IPO is likely no tjust a pipe dream ahead of other regulatory  tie ins before the filing.

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This entry was posted on January 29, 2012 by in Amitonomics, Banking, Dealbook, Mergers etc, Private Equity, Retail Lifestyle, Social Media.


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