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Based on unparalleled access to those involved, and told with compelling pace and drama, The Bank that Lived a Little describes three decades of boardroom intrigue at one of Britain's biggest financial institutions. In a tale of feuds, grandiose dreams and a struggle for supremacy between rival strategies and their adherents, Philip Augar gives a riveting account of Barclays' journey from an old Quaker bank to a full-throttle capitalist machine. The disagreement between those ambitious for Barclays to join the top table of global banks, and those preferring a smaller domestic role more in keeping with the bank's traditions, cost three chief executives their jobs and continues to divide opini...
Early in the new millennium the investment banks were on their knees. Beaten by the boom and bust of the dot.com bubble, mixed up in corporate scandals and accused of uncontrolled and rampant conflict of interest, the game seemed over for the masters of the universe. Then the bounce back came. New rules, promises to be more vigilant and rising markets took the heat off. Having learned their lesson and paid their dues, the investment banks could be relied upon to oil the wheels of capitalism in this best of all possible worlds. Philip Augar's cutting critique challenges this consensus. By being able to act simultaneously for buyers, sellers and themselves, they can generate huge returns at their customers' expense. This book explains how this systematic and legal transfer of wealth occurs and answers some important questions. Do the investment banks add value through their advice? Is there a cartel? Are there any alternatives? What will happen next?
This work examines the decline of the British merchant bank during the 1980s and 90s. Augar takes us through the boom of the Thatcher years, the crash of 1987, the Big Bang and the impact of technology.
He lived a double-life in the sixties Faked his own death in the seventies And retained his cover in the eighties A period thriller with powerful political and espionage themes, Agent Twister is the remarkable story behind one of the greatest scandals of the 1970s, told in full for the first time. If you think you know the true story of John Stonehouse – think again. It’s November 1974 and John Stonehouse MP, once a star in Harold Wilson’s Labour government, is missing in Miami, presumed drowned. His disappearance exposes the most lurid details of his life, including identity fraud, corporate corruption, a love triangle, blackmail, links with the Mafia and a decade-long career as a Sov...
"* Chasing Alpha is the definitive insider s history of Britain s financial services sector, from the early days of New Labour to the present day. At the heart of the action is the revival of the City s institutions in the mid-nineties. Augar uses his peerless connections with the people and firms that made it happen to give a compelling narrative of how the City s golden generation turned London round. Then, as so often happens in finance, the City got carried away with its own success, boasting of a new risk-free economic paradigm that would make the world a richer place. Northern Rock gave the lie to this claim. Far from heralding the eclipse of finance capital, Augar will show how the City stands poised to emerge from the credit crunch stronger than ever. As New Labour heads towards electoral meltdown, the industry it did so much to nurture will embrace the opportunities afforded by David Cameron s even more business-friendly Conservatives. The guiding principle of th"
A revolution took place in the City in the 80s and 90s. The cosy club of British merchant banking collapsed in a series of sell-outs, closures and scandals. This left the City dominated by US and European giants. Was this the inevitable result ofglobalization or did mismanagement play a part? This is the first book to look at how and why the British merchant banks and brokers sold out, and where that leaves us. Augar tells this fascinating story with pace and drama, taking us through the Thatcher years, the crash of 1987, Big Bang, and the aggressive invasion of the American banks. He looks at why the British banks failed to keep pace with the Americans, what this says about the way they were run, and what this means for the future.
In today's big money game the investment banks are the masters of the universe, notching up vast profits and wielding huge global influence. But do they now have too much power? Financial insider Philip Augar reveals the secrets of the money men- the conflicts of interest inherent in acting simultaneously for sellers, buyers and themselves; how enormous returns are concealed by dividing the spoils between shareholders and executives; how bankers have managed to switch their business risks away from themselves to their customers; and why we are paying the price.
He was the most celebrated and successful British investor of his generation - but it was all built on a lie. Neil Woodford spent years beating the market; betting against the dot com bubble and the banks before the financial crash in 2008, making blockbuster returns for investors and earning himself a reputation of 'the man who made Middle England rich'. But, in 2019, Woodford's asset management company collapsed, trapping hundreds of thousands of rainy-day savers in his flagship fund and hanging £3.6 billion in the balance. In Built on a Lie, Financial Times reporter Owen Walker reveals the disastrous failings of Woodford, the greed at the heart of his operation and the full, jaw-dropping story of Europe's biggest investment scandal in a decade. 'Vital financial journalism with heart' Emma Barnett, broadcaster 'This is a must read!' Vince Cable, former leader of the Liberal Democrats 'Reads like a rip roaring tale of a corporate high wire act' John McDonnell, former Shadow Chancellor 'Should be sold with a bottle of blood-pressure pills' Edward Lucas, The Time
All but ignored by management theory, more and more employees are being asked to combine management and production responsibilities. Millions of workers are trying to lead teams while maintaining their own performance, often without management training. The result is too often stress, unnecessary workloads and feelings of helplessness. This volume aims to help those overburdened with such responsibilities manage a team while keeping their edge as a producer. Using a blend of historical analysis, personal experience and detailed case studies, this book is a practical guide to the dilemmas faced by the ambitious player managers.
Corporate governance, the internal policies and leadership that guide the actions of corporations, played a major part in the recent global financial crisis. While much blame has been targeted at compensation arrangements that rewarded extreme risk-taking but did not punish failure, the performance of large, supposedly sophisticated institutional investors in this crisis has gone for the most part unexamined. Shareholding organizations, such as pension funds and mutual funds, hold considerable sway over the financial industry from Wall Street to the City of London. Corporate Governance Failures: The Role of Institutional Investors in the Global Financial Crisis exposes the misdeeds and lapse...