Baring goes over to the gnomes of Warburgs

Our heartiest congratulations to Francis Baring, former head of corporate relations at his family bank, on his move to a similar role at SBC Warburg. After the Leeson debacle, Francis was at somewhat of a loose end, as the ING people moved in to reorganise the bank. No doubt his experience of clashing cultures will be of good use; he is moving from Britain's oldest and most blue-blooded merchant bank, which was taken over by the Dutch post office, to what was Britain's flagship investment bank, which was in turn snapped up by Swiss gnomes.

Jens Tholstrup, who was plucked from Warburg's corporate finance department post-merger to become SBC Warburg's mouthpiece, is now returning to the quieter world of mergers and acquisitions. As head of corporate communications in London, Mr Baring's understated charm should help SBC Warburg's case, particularly as it continues to suffer key staff defections.

Defections such as Michael Hammond, SBC Warburg's joint head of equity syndication, who is off to join Fleming as head of European equity capital markets. Get onto it, Francis.

There was an air of eras drawing to an close for Jacob Rothschild yesterday. The announcement that he was taking a less active role at St James's Place Capital, the financial services group he built with Sir Mark Weinberg, was overshadowed by the funeral of his stepmother, Teresa Rothschild, which he attended in Suffolk yesterday. Tess Rothschild had a glittering series of careers, one of which was in British intelligence in the Second World War, where she met her husband, Victor Rothschild, one of Britain's most brilliant scientists. Jacob Rothschild is now spending more time running the National Heritage Memorial Fund, which dispenses pounds 300m of Lottery money a year, than he is running his businesses, including his investment vehicle, RIT Capital Partners.

He said yesterday that setting up the fund, one of five distributors of Lottery money, had taken far more time and energy than anyone had foreseen. What with his other activities such as completing the restoration of Waddesdon Manor, a magnificent Rothschild mansion, "it all got a bit much." He is still keen on investing, though - "I've time to be an investor."

Talk about a damp squib. Jeff Wooller, an accountancy college chief, has been telling everyone about his Ginger Group, which was going to storm the Institute of Chartered Accountants and make it more accountable to the ordinary membership. Come the ICA's annual general meeting though, and he gets just one vote for his proposals, apart from himself and his seconder. Against - all 247 other chartered accountants at the meeting. To be fair, Mr Wooller did receive a few postal votes, but nothing to change the impression of a crushing defeat.

There was a lighter side when a member pointed out that the annual accounts explained "income - money in; expenditure - money out." Why, the member asked to loud rollicking laughter, did income and expenditure have to be explained to chartered accountants? I think we should be told.

Distribution problem: Whittard of Chelsea, the tea and coffee retailer seeking an AIM listing, has found a historic document in its due diligence investigation. A leaflet sent to customers during the Second World War said: "We regret to inform you that, through enemy action, our office and warehouse in Mansell Street have been completely destroyed, together with most of our records." The unflappable tea importers then say they are "exceedingly sorry for the inconvenience. Also it would be welcomed if unpaid accounts could be settled, as we are unable to send out any settlements." As Winston Churchill said at the height of the Blitz: "Business as usual."

Start your day with The Independent, sign up for daily news emails
PROMOTED VIDEO
ebooks
ebooksA year of political gossip, levity and intrigue from the sharpest pen in Westminster
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Selby Jennings: Oil Operations

Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...

The Jenrick Group: Night Shift Operations Manager

£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...

SThree: Trainee Recruitment Consultant - LONDON

£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...

Day In a Page

Isis in Iraq: Yazidi girls killing themselves to escape rape and imprisonment by militants

'Jilan killed herself in the bathroom. She cut her wrists and hanged herself'

Yazidi girls killing themselves to escape rape and imprisonment
Ed Balls interview: 'If I think about the deficit when I'm playing the piano, it all goes wrong'

Ed Balls interview

'If I think about the deficit when I'm playing the piano, it all goes wrong'
He's behind you, dude!

US stars in UK panto

From David Hasselhoff to Jerry Hall
Grace Dent's Christmas Quiz: What are you – a festive curmudgeon or top of the tree?

Grace Dent's Christmas Quiz

What are you – a festive curmudgeon or top of the tree?
Nasa planning to build cloud cities in airships above Venus

Nasa planning to build cloud cities in airships above Venus

Planet’s surface is inhospitable to humans but 30 miles above it is almost perfect
Surrounded by high-rise flats is a little house filled with Lebanon’s history - clocks, rifles, frogmen’s uniforms and colonial helmets

Clocks, rifles, swords, frogmen’s uniforms

Surrounded by high-rise flats is a little house filled with Lebanon’s history
Return to Gaza: Four months on, the wounds left by Israel's bombardment have not yet healed

Four months after the bombardment, Gaza’s wounds are yet to heal

Kim Sengupta is reunited with a man whose plight mirrors the suffering of the Palestinian people
Gastric surgery: Is it really the answer to the UK's obesity epidemic?

Is gastric surgery really the answer to the UK's obesity epidemic?

Critics argue that it’s crazy to operate on healthy people just to stop them eating
Homeless Veterans appeal: Christmas charity auction Part 2 - now LIVE

Homeless Veterans appeal: Christmas charity auction

Bid on original art, or trips of a lifetime to Africa or the 'Corrie' set, and help Homeless Veterans
Pantomime rings the changes to welcome autistic theatre-goers

Autism-friendly theatre

Pantomime leads the pack in quest to welcome all
The week Hollywood got scared and had to grow up a bit

The week Hollywood got scared and had to grow up a bit

Sony suffered a chorus of disapproval after it withdrew 'The Interview', but it's not too late for it to take a stand, says Joan Smith
From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?

Panto dames: before and after

From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?
Thirties murder mystery novel is surprise runaway Christmas hit

Thirties murder mystery novel is surprise runaway Christmas hit

Booksellers say readers are turning away from dark modern thrillers and back to the golden age of crime writing
Anne-Marie Huby: 'Charities deserve the best,' says founder of JustGiving

Anne-Marie Huby: 'Charities deserve the best'

Ten million of us have used the JustGiving website to donate to good causes. Its co-founder says that being dynamic is as important as being kind
The botanist who hunts for giant trees at Kew Gardens

The man who hunts giants

A Kew Gardens botanist has found 25 new large tree species - and he's sure there are more out there