Josef Ackermann, chairman of Deutsche Bank’s group executive committee, and John Thain, president and co-chief operating officer at Goldman Sachs, have both voiced their concerns at the value that quarterly reporting would bring.
Ackermann said that the introduction of these measures would encourage ‘short-termism’, which was one of the issues that led to ‘corporate misbehaviour’.
Echoing such comments Thain said analysts should focus on companies that offer long-term success adding that the world’s best investors would not invest based on quarter-to-quarter earnings.
The comments follow a joint statement from the Association of British Insurers and its French equivalent, which highlighted similar concerns over the EU’s proposals.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016