TS was intrigued to note the fanfare surrounding Glencore’s listing on the London Stock Exchange.
The mining/commodities trader has received some negative press in recent weeks around its tax affairs. However, TS was more interested in a gushing analyst’s view of the business.
City AM’s analysis piece today touches on criticism Glencore has received over the opacity of its trading operation. But Numis Securities analyst Andy Davidson responded that the moment it’s known how that operation works, Glencore “will lose its edge”.
Heaven forbid Glencore enters into any trading difficulties, but if it were to do so then TS hopes analysts don’t suddenly decide Glencore, or its auditors, should have done more to explain how their business works and the risks it takes.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars