Business Diary: World Bank turns to Lehman alumni
Saturday 25 June 2011
The World Bank naturally wants the best possible staff to monitor risks to the financial system and the global economy, which it so often has to prop up. So you'll be pleased to hear that its new treasurer has a strong background in issues of risk. Step forward Madelyn Antoncic, who used to work as the chief risk officer at one of Wall Street's leading investment banks. OK, so it was Lehman Brothers, but Antoncic is thought to have told the bank's bosses they were making bets that were too big.
Will Cardiff roar or merely purr?
You may not have heard of Kevin Gardiner, who is head of investment strategy at Barclays Wealth, but he has a claim to fame. Back in 1994, when he was working at the investment bank Morgan Stanley, he invented the term "Celtic Tiger" to describe the roaring ( as it was back then) Irish economy. Now Gardiner is turning his attentions to the economy of the capital of Wales with an event next month headlined "Cardiff, Celtic Tiger or Celtic Kitten?" Let's hope that the second option doesn't stick.
Another plucky British loser
The folk at Original BTC, a lighting manufacturer based in Oxfordshire, were very excited to see one of their products feature on Wednesday night's episode of The Apprentice. The company's founder, Peter Bowles, immediately issued a press release crowing about his product, which, Diary must concede, did have a certain charm. "The last 21 years prove how successful British manufacturing can be," says Mr Bowles of his creation and the company's history. Good for him, though he surely must have noticed that the team flogging the teapots lost Wednesday night's task by amargin larger than ever seen before on the show.
Getting his own back on the boss
We are not condoning this sort of behaviour, but we can't help feeling a little pleased that the Baltimore man who hacked his way into his former boss's computer has escaped a jail sentence in a case that has just been concluded. Having been fired by the gentleman in question, Walter Powell, 52, wanted revenge. And boy did he get it, infiltrating his boss's computer and replacing his presentation to the board with pornography.
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