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Humbled media mogul Rupert Murdoch rules out resignation. Rupert Murdoch, chief executive and chairman of News Corporation, refused to take responsibility for the phone hacking scandal in yesterday’s dramatic session of the Culture, Media and Sport Committee.

Jaime Prieto, Y&R EMEA chief executive, is leaving the agency to join Ogilvy & Mather as director of global brand management, as part of a restructure of Y&R’s European operations.

Reader’s Digest UK today revealed that it would embark on a reorganisation of its business, raising the prospect of job losses across the general-interest magazine’s staff.

Management at the company, which runs the 72-year-old British edition of the magazine and its retail operation, said it had entered a “consultation period” with its staff.

Microsoft has appointed Andy Hart, a former MD of Associated Northcliffe Digital, to head up its new advertising & online (A&O) division in the UK following its recent global reorganisation.

McDonald’s is to open its largest-ever restaurant at the 2012 London Olympics site.

The global fast food chain is to build a two-storey restaurant at the Olympic site in Stratford, East London, in time for the opening of the games next year.

Clothing sponsor Dunlop has handed out £2m to golfer Darren Clarke for winning the Open Championship, as part of the pair’s no-win, no-pay commercial deal.


The investment banking arm of Royal Bank of Canada said it appointed Eric Jacobs as a managing director in its U.S. Mergers & Acquisitions (M&A) Investment Banking group, with a focus on healthcare. Jacobs joins RBC from Bank of America Merrill Lynch, where he was Head of Healthcare Services M&A.

Additionally, it named James Patrick Heidbreder as a managing director of its U.S. Healthcare Investment Banking group. Heidbreder joins RBC from FBR Capital Markets where he served as a Managing Director and Head of Healthcare Services Investment Banking.


The financial services company appointed William Morrison as president and chief operating officer. Morrison had served as chief financial officer since September 2009. Michael O’Grady replaced Morrison as chief financial officer. O’Grady joins Northern Trust from Bank of America Merrill Lynch’s financial institutions investment banking group.


The insurance broker and risk adviser, a unit of Marsh & McLennan Cos , said it named David Pigot as global head for its newly formed Global Claims Practice and he will lead the practice from London.


The private equity firm has hired Michael Iaccarino as an executive advisor and operating executive. Iaccarino will also become the chairman of CCMP portfolio company Infogroup, a provider of targeted high-value sales and marketing data, customer and market intelligence and innovative digital engagement solutions.


Senator George J Mitchell is rejoining the bank’s Americas Advisory Board, effective August 1. Senator Mitchell originally joined the Board on September 5, 2005 and served till January 22, 2009, when President Barack Obama appointed him special envoy for Middle East peace, a post he held till May 14, 2011.


The business and technology consultancy for financial services appointed Andrew Tarver as its UK chief executive. It said Ismail Amla, Capco’s previous UK CEO, will now head Capco’s North American practice.


The business consulting services provider said it appointed C Mark Hussey as executive vice-president, chief financial officer.


The bank has poached Nathan Bostock, one of the top executives at its rival Royal Bank of Scotland , to lead the reshaping of the part-nationalised British bank’s wholesale division.


The Temasek unit’s Chief Executive Francis Rozario is leaving at the end of this month and will be replaced by Temasek senior managing director Gan Chee Yen.


The bank appointed Darcy Lai as regional head of origination and Client Coverage for Greater China and Japan, wholesale banking. He will be based in Hong Kong.


The UK wealth management firm appointed David Archer as director of intermediary sales.


The asset management company appointed Toby Nangle as head of multi-asset. Nangle, who joins from Baring Asset Management, will be based in London. He will join in January 2012.


The hedge fund consulting and third-party marketing firm said it appointed Doug Moore as managing director.


The business advisory firm said it appointed Rob Hornby as managing director. Hornby was formerly CIO of Old Mutual Wealth Management Group.

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