Credit Suisse has scored a coup. It has nabbed David O'Reilly of Bakers Trust to head up its spot foreign exchange trading. This is no mean feat considering O'Reilly has been with Bankers Trust for a lengthy nine years. Treasurer Sadeq Sayeed said that O'Reilly is no less than a key addition and will uplift Credit Suisse's execution and risk taking capabilities as well as market presence.
Five others have also been taken on to beef up its foreign exchange sales operation.
Anne Sangser joins from BZW to head up the UK/European fund sales; Daniel Hayes moves from Morgan Grenfell London to become London option product manager and Adam Sorab jumps from Schroders London to lead UK corporate sales.
Gavin Vaughan comes in from Kleinwort Benson London to the position of senior money market salesman and Kieran Salter joins from Lehman Brothers to take main responsibility for Middle East Marketing.
Ramon Pajares, the recently appointed managing director of the Savoy Hotel, will get a one off payment of £150,000 if the company makes profits of more than £18m while he holds office. The details of his contract reveals that he gets basic pay of £120,000 and this year could be entitled to a bonus worth £70,000. He also gets £45,000 a year towards housing costs. the Savoy has turned a string a disappointing results over the last four years, making £4.2m last year, a 483 per cent increase on the previous year.
A US company, Factory Direct Sales Associates is to launch a TV home shopping service in Russia. Selling direct to the consumer in the comfort of their own home has proved a lucrative activity in the US. Now Factory Direct thinks it is time to conquer the que hardy population of the former communist country. It plans to sell watches and jewellery. The slogan being used to woo its virgin audience: "Russians will be in the red without the red tape" intimates that the company should perhaps try to lower its price points somewhat.
Mohammed Al Fayed, purveyor of fine things as chairman at the luxury goods store Harrods, looks set to leap into the mega-buck world of movie-making. Mr Al Fayed is apparently keen to buy a stake in the film industry. The brief apparently is to find out what's for sale. One possible target is the former Rolls Royce parts factory outside Watford. The site is home to the much-troubled filming of the latest James Bond blockbuster, Goldeneye, starring Piers Bronson. The site, although not exactly a Knightsbridge location, has the added bonus of an aerodrome. Could it be that Mr Al Fayed and his film-producer son, Dodi, are going into business together?