CITY DIARY

If the Swiss Bank Corporation raid on Warburgs proves successful there will be one banker who will sigh a breath of relief.

Piers Von Simson, the Warburgs corporate financier, was heavily criticised for the role he played as adviser to Enterprise during its botched takeover attempt of Lasmo. If the Swiss start slashing at Broadgate bodies he can feel more comfort in the knowledge that his brother, David, who is a corporate financier in charge of the French operation at SBC, might put a good word in for him.

Dr Bob Hawley, the stamp-collecting chief executive of Nuclear Electric, seems to have underestimated tartan objections to the idea that Scottish Nuclear should be required to merge with Nuclear Electric.

He recently asked his press officer to send him comment on the matter from a Scottish newspaper but, after he was sent the first batch of 22 pages decided he had read enough.

Shareholders at the Schroders annual meeting yesterday were subject to a love-in concerning the departure of George Mallinckrodt as chairman. The newly-appointed chairman, Winfried Bischoff, and other shareholders paid tribute to Mr Mallinckrodt's considerable achievement in building up the Cheapside-based bank and increasing the share price nearly 20 times during his tenure.

Of particular note, Mr Bischoff concluded, was the constant pressure on cost control. A few moments later, as the meeting broke up, a huge trolley laden with champagne was wheeled in. "There goes my cost-control," joked Mr Mallinckrodt.

Where did the bizarre rumour about Smith Barney taking over Warburgs ever spring from? Apparently an American journalist took possession of a top secret internal document from Warburgs which reffered to the mystery bidder as "SB". Of course the parochial transatlantic hack took this to mean Smith Barney. He had probably never heard of Switzerland.

Following on the success of Reminiscences Of A Stock Broker by Edwin Lefevre, which proved a bestseller in the City last year, John Wiley & Sons is re-publishing a book by Fred Schwed whose subtitle is "A Good Hard Look At Wall Street" and which features illustration by Peter Arno (right).

The main title is inspired by story told by Schwed about an out-of-town visitor who was shown around New York many years ago. When the party arrived at the docks, he saw a row of handsome ships riding at anchor. "Those are are the bankers' and brokers' yachts," explained the guide. "Where are the customers' yachts?" was the naive reply.

Robert Fleming, the City merchant bank, has made an unusual decision in its appointment of a journalist and frog-lover to spearhead a new inititiative to widen its business on the Continent. David Marsh, 42, is the European editor of the Financial Times. As director of European strategy at Flemings, Mr Marsh will be using his contacts in the Continental finance world to boost Flemings' business. Future colleagues may be interested to know that he counts amongst his hobbies "tadpoling", which is apparently the collection of tadpoles from the village pond near his house in Wimbledon and the cultivation of young frogs in his garden pond.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA special investigation by Andy McSmith
  • Get to the point
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

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...

Ashdown Group: IT Manager / Development Manager - NW London - £58k + 15% bonus

£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...

Recruitment Genius: Sales Consultant / Telemarketer - OTE £20,000

£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...

Ashdown Group: Training Programme Manager - City, London

£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...

Day In a Page

Where the spooks get their coffee fix: The busiest Starbucks in the US is also the most secretive

The secret CIA Starbucks

The coffee shop is deep inside the agency's forested Virginia compound
Revealed: How the Establishment closed ranks over fallout from Loch Ness Monster 'sighting'

How the Establishment closed ranks over fallout from Nessie 'sighting'

The Natural History Museum's chief scientist was dismissed for declaring he had found the monster
One million Britons using food banks, according to Trussell Trust

One million Britons using food banks

Huge surge in number of families dependent on emergency food aid
Excavation at Italian cafe to fix rising damp unearths 2,500 years of history in 3,000 amazing objects

2,500 years of history in 3,000 amazing objects

Excavation at Italian cafe to fix rising damp unearths trove
The Hubble Space Telescope's amazing journey, 25 years on

The Hubble Space Telescope's amazing journey 25 years on

The space telescope was seen as a costly flop on its first release
Did Conservative peer Lord Ashcroft quit the House of Lords to become a non-dom?

Did Lord Ashcroft quit the House of Lords to become a non-dom?

A document seen by The Independent shows that a week after he resigned from the Lords he sold 350,000 shares in an American company - netting him $11.2m
Apple's ethnic emojis are being used to make racist comments on social media

Ethnic emojis used in racist comments

They were intended to promote harmony, but have achieved the opposite
Sir Kenneth Branagh interview: 'My bones are in the theatre'

Sir Kenneth Branagh: 'My bones are in the theatre'

The actor-turned-director’s new company will stage five plays from October – including works by Shakespeare and John Osborne
The sloth is now the face (and furry body) of three big advertising campaigns

The sloth is the face of three ad campaigns

Priya Elan discovers why slow and sleepy wins the race for brands in need of a new image
How to run a restaurant: As two newbies discovered, there's more to it than good food

How to run a restaurant

As two newbies discovered, there's more to it than good food
Record Store Day: Remembering an era when buying and selling discs were labours of love

Record Store Day: The vinyl countdown

For Lois Pryce, working in a record shop was a dream job - until the bean counters ruined it
Usher, Mary J Blige and Will.i.am to give free concert as part of the Global Poverty Project

Mary J Blige and Will.i.am to give free concert

The concert in Washington is part of the Global Citizen project, which aims to encourage young people to donate to charity
10 best tote bags

Accessorise with a stylish shopper this spring: 10 best tote bags

We find carriers with room for all your essentials (and a bit more)
Paul Scholes column: I hear Manchester City are closing on Pep Guardiola for next summer – but I'd also love to see Jürgen Klopp managing in England

Paul Scholes column

I hear Manchester City are closing on Pep Guardiola for next summer – but I'd also love to see Jürgen Klopp managing in England
Jessica Ennis-Hill: 'I just want to give it my best shot'

Jessica Ennis-Hill: 'I just want to give it my best shot'

The heptathlete has gone from the toast of the nation to being a sleep-deprived mum - but she’s ready to compete again. She just doesn't know how well she'll do...