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Blog Archives: Nigel Phillips

Women at the top table: Why now is the time

The research findings are clear: companies with the highest representation of women on their top management teams perform better financially than companies with the lowest women’s representation (see Catalyst and Deloitte). Irrefutable evidence abounds supporting the need for U.S. corporations to achieve a critical mass of women in senior leadership to succeed and thrive in today’s economy. Yet we remain stalled in our efforts to advance women to senior leadership. In truth, we’ve flatlined. Despite a plethora of new training and leadership initiatives, in 2010, women held only 14.4% of executive officer positions, up from 13.5% in 2009, and only 7.6% of the top earning positions compared with 6.3% in 2009. Other countries are soaring far ahead of us in this regard. From my career and leadership coaching work with hundreds of corporate women, and my yearlong research on the 12 “hidden” crises professional women face, I’ve directly witnessed what holds women back from attaining the highest levels of leadership. What is this barrier? A…

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Breaking News

The Advertising Standards Authority has promoted Lynsay Taffe to director of communications, marketing and public affairs, replacing Esra Erkal-Paler. Taffe will oversee a team of seven people responsible for promoting advertising self-regulation. Erkal-Paler has taken a job at the pharmaceutical company AstraZeneca. All 80 staff at the Daily and Sunday Sport newspapers have been made redundant after a financial crisis forced the tabloids to cease publishing, the administrators of their parent company said today. Digital Cinema Media (DCM), the cinema sales house, has appointed Davina Barker as sales controller, replacing Sufia Von Bismarck who moves to Channel Five this month. Barker takes over this week from Von Bismarck, who has been poached by Channel 5 sales chief Nick Bampton to boost his commercial team. SCOTTISH WIDOWS INVESTMENT PARTNERSHIP The firm appointed William Low as head of Global Equities within its International Equities team. He will be based in Edinburgh and report to Andrew November, Director of Equities. CANTOR FITZGERALD The financial services firm appointed Mark…

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Financial Focus

Portugal's cost of borrowing was close to 10% yesterday, increasing belief that the country needs an international rescue to fend off a sovereign bond default. The yield on Portugal’s five-year bonds rose to 9.91%, which is higher than levels seen in Ireland when Dublin was bailed out in November. THE RISK is roughly one in seven that Europe’s ongoing debt crisis will push member nations to abandon the shared currency, the Economist Intelligence Unit has warned. The report questions the weaker Eurozone members’ ability to meet its financial commitments, and the stronger states’ patience for an ongoing ‘propping up’ role. GADDAFI’S call for "international dialogue" to resolve the conflict was met with disbelief yesterday, as European leaders rejected a reported cease-fire proposal and announced their recognition of the rebels’ interim council as the Libya’s only legitimate government. BLOOMBERG’S survey of economists predict that the ISM report, due out at 10 am New York time, will say that US service industries grew at the fastest pace…

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Breaking News

Libya's rebel council named what it called a "crisis team" on Saturday, including a new armed forces head, which will administer parts of the country it holds in its struggle to topple Muammar Gaddafi. The team headed by Mahmoud Jebril will take its direction from the transitional national council, which remains the top rebel political body, council spokesman Hafiz Ghoga told a news conference. Omar Hariri is in charge of the military department, with General Abdel Fattah Younes al Abidi, a long serving officer in Gaddafi's armed forces, as his chief of staff. Younes will be in charge of staff matters and field operations, Ghoga said. Ben Langdon, chief executive and founder of Digital Marketing Group (DMG), has resigned and the company is looking for a new chief executive. AMERICAN INTERNATIONAL GROUP The insurer named Peter Hancock as head of its property and casualty division, Chartis. The previous CEO of Chartis, Kristian Moor, will now become the vice chairman of the division, reporting to Hancock.…

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Financial Focus

THE IMF strongly denied suggestions that it is privately pressing troubled Greece to restructure its debt, with a spokeswoman saying that it "supports the Greek government’s position of no debt restructuring and its determination to fully service its debt obligation". The head of the European Financial Stability Facility, Klaus Regling, agreed that the Greeks can sustain their debt. GADDAFI’S troops continued bombarding Libya’s third city Misurata yesterday. Communications and electricity to the city have been cut off for days, and it is reported that 160 people, mostly civilians, have been killed in a week. Rebels continued to fight with regime troops in the Eastern oil-town of Brega, and fears of a stalemate forcing a long-term east-west split are growing. MARKETS: US EMPLOYMENT grew solidly for a second month in March lifting the FTSE to a six-week high, and pushing Wall Street close to its 1,333-resistance point on Friday. Analysts do not expect more significant movement in the US markets until earnings data confirm that companies…

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World in Crisis; Business as Usual?

Turmoil in the Middle East and massed attacks on Libya, threatening another protracted war in the region, are powerful shocks to the global economy. The markets are already spooked by Japan’s crisis, Europe’s debt woes and uneven economic data coming out of China. These, combined, threaten any prospect of sustainable recovery. When a recovery is weak, there is no buffer to cushion economies from the impact of shocks. That is not to say that the world is in any danger of tipping over the edge. At least not yet. When the Japanese crisis happened, and the bombs started falling on Libya, the price of oil escalated and there was greater for demand for safe haven currencies, like the US dollar. But money is now flowing back into the world markets. On one hand, the World Bank says Japan’s repair bill will come to $235 billion. Ratings agency, Moody’s, says that global supply chains will be disrupted and that Japan will experience a recession in the…

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Tick, tick..boom! The pensions' time bomb

The corporate world has been on a bumpy ride over the past two years, and anyone currently unscathed could be forgiven for hoping the worst is over. Howevever, it is worth asking whether you will keep the same job you are in until you retire and, secondly, whether you will have a decent pension when you do. The pensions' time bomb is essentially the realisation that companies and governments will probably be unable to fund the increased monthly payments required by an ever-growing group of workers reaching retirement age.This realisation is causing companies to drop the benefit schemes currently in place and forcing state bodies to adjust retirement ages. With the collapse of equity and residential housing markets, over the past two to three years, most people assume the problem lies with the assets side of the equation. We simply haven't got enough money in the pot to pay for our retirements. That may be true, but in fact, the demand side is as much…

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Financial Focus

Portuguese deficit figures for 2010 came in worse than expected at 8.6% GDP versus the 7.3% target. The Portuguese finance minister blamed the deficit figure on a change in calculations, adding that the government does not have the legal power to seek any kind of rescue until after elections in June. THE UK’s William Hague called on the Syrian government to show restraint during protests for political reform planned for today. The Foreign Office yesterday advised all British nationals to leave Yemen while commercial airlines are still flying, as it is highly unlikely that the government will be able to evacuate British nationals in the event of a further breakdown of law and order. MARKETS: The S&P 500 has gained 5.4% in the first quarter, and is expected by many to breakthrough the stubborn 1,330 points level today if the US jobs report turns out to be good as expected today. THE NIKKEI average fell overnight, having found a new two-week high, with investors keen…

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Breaking News

Apple's vice president of worldwide marketing communications Allison Johnson is leaving the company, according to a report at All Things Digital. Johnson has been at Apple since 2005. Prior to joining Johnson was senior vice president, global brand and communications at Hewlett-Packard. She has also held senior marcoms roles at Netscape and IBM. GyroHSR has appointed Kevin Allen to the new role of international planning director, following a series of global wins for the agency, including FedEx and Heathrow Express. Richard Pinder, the chief operating officer of Publicis Worldwide, has left the advertising network after five years in the role. His departure without a job to go to makes room for the appointment of Jean-Yves Naouri as the executive chairman of Publicis Worldwide. Saatchi & Saatchi has hired Laurence Quinn and Mark Norcutt as creative directors on its Toyota account. They join Saatchis from JWT. Tim Allnutt, the managing partner of MCHI, is leaving the full-service media and creative agency to launch a business outside…

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Breaking News

James Murdoch quits UK for NY-based News Corp role James Murdoch, currently boss of News Corp's European and Asian operations, is leaving the UK to take on the role of deputy chief operating officer and chairman and chief executive of international operations, based in New York. News Corp-owned IGN Entertainment has hired former Target Media group trading director Adam Hopkinson as UK commercial director as it bids to double the size of its sales operation. Interpublic's media division Mediabrands has restructured its global operations into three "clusters" and handed more regional responsibility to Jim Hytner, EMEA president of UM. HONG KONG - Olivier Pluquet, CEO for Euro RSCG Asia-Pacific, will step down in June to take over a new role as heading luxury communications for parent company Havas. RBC CAPITAL MARKETS The corporate and investment banking arm of Royal Bank of Canada <RY.TO appointed Rob Sennitt as a managing director and co-head of Mining & Metals, Australia, within its Global Investment Banking platform in Sydney.…

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