Professional Documents
Culture Documents
16
MONDAY 11 FEBRUARY 2013
JAMES OWEN WEATHERALL
Black swans are difficult to predict
but we still need maths in finance
physicists made progress by drawing on
statistics to identify new ways of think-
ing about risk. Others used their expert-
ise at extracting information from
noisy sources to identify patterns that
could be useful for trading. Still others
combined observations about markets
with theories learned in physics to
come up with expressions that describe
how observable features of markets
(like stock prices) relate to opaque fea-
tures (like oncoming crashes).
None of this involves assuming that
investors are a bunch of quarks. A care-
ful study of human behaviour, in fact, is
not inconsistent with using mathemat-
ical models to study markets. You
should expect psychology and human
behaviour to be symbiotic with mathe-
matical approaches to economics.
A second criticism has found its
biggest champion in Nassim Taleb. His
influential book The Black Swan argues
that markets are far too wild to be
tamed by physicists. A black swan is an
event that is so unprecedented it is
impossible to predict. Black swans,
Taleb argues, are what matter, yet they
are precisely what our best mathemati-
cal models are unable to anticipate.
This is a problem for financial model-
ling, Taleb says. He argues that physics
lives in a world called Mediocristan,
whereas finance lives in Extremistan.
The difference is that randomness in
Mediocristan is well-behaved and can
be described by normal distributions. In
Extremistan, normal distributions are
misleading. Applying ideas from
physics to finance is a fools errand.
On one level, Taleb is right. Well can
never predict everything that can hap-
pen. But recognising this is part of
thinking like a physicist. It amounts to
resisting complacency in model-build-
ing. But it shouldnt stop us from figur-
ing out how to predict as many kinds of
would-be black swans as possible.
Taleb believes that black swans show
that mathematical modelling is funda-
mentally unreliable. It seems to me you
can argue that a model is flawed, albeit
usually in ways that a responsible
builder would recognise from the start.
But arguing that model-building as a
whole is doomed is different.
The process of building models is the
basic methodology underlying all sci-
ence and engineering. Its the best basic
tool we have for understanding the
world. We use models to build bridges
and to design airplanes. What does it
mean to say that, since the methodolo-
gy behind these models cannot be used
to predict everything that could ever
happen, it should be abandoned? If
Taleb is right, you should never drive
over a bridge. At any moment an
unprecedented earthquake could occur
that the bridge builders models didnt
account for and the bridge could col-
lapse. You should never build a sky-
scraper because it might be hit by a
meteor. Dont fly in an aeroplane, lest a
black swan collide with its engines.
Taleb would have it that finance is dif-
ferent to engineering that its extreme
events are more unpredictable or more
dangerous. But its hard to see why.
Catastrophic events usually come with-
out warning. This is true in all walks of
life. And yet, it doesnt follow that we
shouldnt do our best to understand
what risks we can.
Its important to distinguish between
the impossible and the merely very dif-
ficult. Theres little doubt that master-
ing financial risk is extremely difficult
much more difficult than solving
problems in physics. But the process is
the best way we have for addressing our
biggest challenges.
James Owen Weatherall is assistant profes-
sor of logic and philosophy of science at
University of California, Irvine, and author of
The Physics of Finance (Short Books).
firms follow this lead to fully explore
the opportunities available in the
face of intense competition from our
rivals.
Relationships are key to developing
business in this global race. That is
why building on the work of previous
City delegations is an important
element of what we do. A delegation
will travel to the region to Kuwait,
the UAE, Egypt, Bahrain and Qatar
later this week, following on from a
recent visit to Oman.
There is a huge amount of
goodwill towards the UK due to our
historic ties. This is reflected in the
fact that the Gulf accounted for over
17bn of total exports in 2011,
making it the UKs seventh largest
export market, and a bigger one than
India, Russia and Mexico combined.
But there is scope to broaden and
deepen this relationship. A case in
point is the huge range of
opportunities available in regional
infrastructure investment.
Currently, 15 of UK Trade and
Investments 56 High Value
Opportunities are in the Gulf. Qatar
is forecasting up to $200bn (126.6bn)
of infrastructure expenditure in
preparation for the 2022 World Cup,
Kuwaits National Development Plan
contains $108bn for infrastructure
development and Oman has a $20bn
programme of infrastructure
development, encompassing roads,
rail, ports and airports.
In order to win a share of this
business, however, we need to
demonstrate why UK firms should be
seen as the regions commercial
partner of choice. The key
differentiator for the UK is our hard-
won reputation for delivering major
high-quality projects on time and on
budget as demonstrated
memorably by the 2012 Olympics.
The City has vast experience in
mobilising the capital and providing
the services required throughout a
projects lifecycle from design to
delivery.
In addition to infrastructure, there
is a growing demand across the Gulf
for knowledge-intensive services in
which the UK excels. These include
education, research and healthcare,
as economies diversify away from
petrochemicals.
From the Citys perspective, we
believe that sharing skills and
experiences will ensure this
longstanding relationship continues
to go from strength to strength. But
in this global race, we cannot afford
to underestimate the hunger of our
competition.
Roger Gifford is lord mayor of the City of
London.
CITY
MATTERS
Dont let the rise of the Brics mask burgeoning opportunities in the Gulf
ROGER GIFFORD
In association with
PARIS OR
ONE WAY FARE INCLUDES ALL TAXES, IN-FLIGHT SNACKS AND 12kg HAND LUGGAGE. Correct as of 8 Feb. Non-refundable, non-changeable. Subject to conditions and availability.
17
MONDAY 11 FEBRUARY 2013
Consensual leader
[RE: Mark Carney will be more of a
reformer than a revolutionary, Friday]
This article is thoughtful, but I disagree
with its second point. The Monetary Policy
Committees current inflation target is
already quite flexible; it is unclear what
would be achieved by formalising
flexibility. Mark Carneys testimony was
more candid than the British public have
become used to from central bankers. This
indicates the importance that he places on
open communication in contrast to Sir
Mervyn King. More importantly, Carney
was dismissive of nominal-GDP targeting,
saying that he remains to be convinced.
We can expect a more open style of
leadership when he takes office.
Derrick Wilkinson
The pernicious tax
[RE: Give London back its stamp duty to
reinvest in growth, Wednesday]
It is encouraging to read one of Londons
deputy mayors putting forward a creative
approach in order to address the UKs
housing crisis. Using the proceeds of
stamp duty raised in London to build 1m
new homes is a good idea. The question
is now why cant the government follow
suit and get on board? Stamp duty is a
pernicious tax that penalises house sales
and purchases. As the Budget
approaches, it is now the right time to re-
channel some of this money, and start
getting new homes built as soon as
possible.
Julian Briant, head of residential consultan-
cy, Cluttons
C
HUKA Umunna, the shadow
business secretary, suggested
in last weeks City A.M. that
Labour is the natural party of
entrepreneurship. This is little
more than a cynical attempt at
gesture politics.
Like Umunnas father, my parents
came to Britain with very little and
set up their own businesses. The
small shops they owned created jobs
in their communities and provided
stability for my family. But Labours
economic legacy has made it harder
for the next generation to start and
sustain a business, as our parents
were once able to do.
Britains business community is
fully aware that Umunna stood for a
party that went into the last election
committed to taking more tax from
small and medium-sized enterprises
(SMEs). Small firms shuddered at the
prospect of increases to the small
profits rate of corporation tax and
national insurance contributions.
Labour planned new taxes on phone
lines.
Labours obsession with red tape
and EU laws also established a pun-
ishing regulatory regime. During its
time in office, Britain fell from fourth
to eighty-ninth in the World
Economic Forums burden of gov-
ernment regulation ranking. This
legacy is costing SMEs almost 17bn a
year, according to the Forum of
Private Business, and acts as a barrier
to private sector growth, job creation
and inward investment. Just one EU
directive Labour signed up to, the
agency workers directive, is costing
firms 1.5bn a year equivalent to
the governments budget to invest in
700,000 apprentices.
But whats more shocking is that
behind Umunnas warm words lies a
dangerous set of Labour policies,
which would cause more harm to
firms wishing to expand and to indi-
viduals wanting to start their own
Could escalating tensions between Japan and
China bring about serious economic damage?
YES
In the near term, China and Japan are unlikely to negotiate a
return to stability. A continued push by Beijing to weaken Japans
administrative control over the disputed islands sustains the risk
of an accident; but military confrontation is unlikely given Japans
alliance with the US. However, risks surrounding the Japan/China
relationship remain high particularly on the economic side.
China sees real domestic and geopolitical benefits from pursuing
such an approach. Beijing has in recent years been willing to use
its economic leverage to pressure Japan, and it is better situated
to navigate the economic risks surrounding a slowdown in
bilateral trade and investment flows. For now, downside risks to
Japanese consumer brands in China in particular will remain high
until diplomatic entreaties lead to a real change in at-sea
behaviour.
Nicholas Consonery is an Asia analyst at Eurasia Group.
Nicholas Consonery
NO
Paul Chesson
Historically, spats between Japan and China have been short-
lived. The two nations need each other. China needs Japans
technology and inward investment; Japan needs Chinas growing
market for consumer and capital goods, and services. As long as
Japan continues to make things that the Chinese want, they will
buy them. One example is Japanese camera sales, which were
initially affected by the dispute. But Canon and Nikon have a large
market share in digital cameras, and the Chinese dont have many
other choices. If you produce goods that people want, and you
make them competitively, then you have little to fear from politics
as long as markets are open. It is unclear how this dispute will be
resolved. But within weeks of the consumer boycotts of Japanese
goods, Chinese consumers once again returned to Japanese
brands, suggesting the impact will be short-lived.
Paul Chesson is head of Japanese equities at Invesco Perpetual.
companies. Labours blanket opposi-
tion to the deficit reduction plan
risks higher interest rates on lending,
while its desire to spend more money
inevitably means businesses paying
higher taxes. Umunna also led
Labours opposition to the Beecroft
reforms to employment law, which
would give firms more flexibility to
recruit, retain and rebalance their
workforces while keeping costs down.
Around 60 per cent of private sector
jobs come from SMEs and, despite the
economic downturn, the number of
enterprise births has increased by
more than 10 per cent in the last two
years, and by 20 per cent in London.
The government should reward
these companies by cutting tax and
regulation, and ministers deserve
credit for the steps they have already
taken. The small profits rate has been
reduced to 20 per cent, and regulato-
ry reforms have saved firms 3bn. But
more action is needed to encourage
and stimulate entrepreneurship. A
rise in threshold of the small profits
rate from 300,000 to 500,000, a sim-
plification of the tax code, reforms to
air passenger duty and the abolition
of regulations from Whitehall, town
halls and Brussels are among the
many liberalising policies that should
be vigorously pursued. The govern-
ment must defend the interests of
SMEs, back entrepreneurs and
remove the many damaging econom-
ic barriers the private sector identi-
fies.
Priti Patel is Conservative MP for
Witham.
PRITI PATEL
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*
ONE
WAY
The system worked. People lobbied their
MPs, parliament demanded a lower EU
budget, and ministers delivered.
@DanHannanMEP
How many expensive years has it taken to
for us achieve this small cut in the EUs
budget?
@Gillibrand
A decent showing by David Cameron on the
EU budget. Perhaps he should quit his day
job and become a European commissioner.
@jonewilson
A 27-hour summit, with 27 EU member
countries. Is this an argument against further
EU enlargement?
@carstenbrzeski
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Cynical Labour has
no claim to being
a party of business
I
N AN uncertain hiring market, the
insurance industry is still looking
for talent. Research by PwC
projects that hiring in general
insurance will increase by 7 per cent
in the first quarter of 2013, while life
insurance will see new hires rise by a
huge 76 per cent. A career in the
industry also offers the potential for
an attractive work-life balance, and to
work in a system that can quickly
reward perseverance and merit.
For an outsider however, insurance
can seem a guarded community
strongly driven by relationships and
standing apart from the rest of the
City. Indeed, breaking in from a non-
insurance background is not easy, and
hiring managers are mindful that
newcomers may not have the required
technical skills, or may be unable to
adapt to a new way of working. But for
some, a career move is possible and
potentially very rewarding.
WHO CAN GET IN
Medium and larger insurers, espe-
cially those in the FTSE 100, actively
hire from other sectors, says Glen
Roberts, associate director at Marks
Sattin. The roles most open to out-
siders are those where industry
knowledge is less important and skill
gaps may be present. These include
management accounting and finan-
cial planning, or those in support
functions like legal and marketing.
Sidestepping recruiters and using
your network can be another way in. If
you have a close working relationship
with a respected member of the indus-
try who can vouch for your outstand-
ing work ethic, employers may be
willing to overlook any shortcomings
in technical knowledge.
But the type of professional who
would find a career move easiest, says
Neal Pavitt of Harrison Holgate, would
be one already employed in a very
numerically-focused role, like a busi-
ness analyst, statistician or financial
modeller. The profession is all about
calculating and managing risk, and
analytical minds are at a premium.
Industry-specific qualifications, like
the Advanced Diploma in Insurance,
can help with your application. But
you will need to weigh up whether the
potential benefit is worth the invest-
ment of time and money.
THE NEGATIVES
A career in insurance is not for every-
one. The pay can be low compared to
other City careers. The salary for a
London-based account director with
six to ten years experience ranges
from 39,190 to 71,606. Insurance is
also a specialist area: once you get in it
can be difficult to move. Finally, have
realistic expectations. Even if you
took a salary cut, it is unlikely you
would be able to move into a techni-
cally demanding role in an area very
different to your current role.
For all the latest insurance jobs follow
@CAMC_Insurance on Twitter. Or sign up
for a tailored alert at CityAMCareers.com.
The insurance industry is still shining in a otherwise difficult City employment market
The industry still has
demand for the right
kind of professional,
writes Chris Harlow
More City businesses are using public,
private and hybrid cloud systems than
ever. Make sure youre well-placed to
take advantage.
MONDAY 11 FEBRUARY 2013
19
cityam.com
Find your next step at
CITYAMCAREERS.com
@cityamcareers
Hiring in insurance is on the
rise: How to make the move
JOBof theWEEK
Quant Fixed Income
Market Trader
Salary: 120,000 per annum, plus
bonus and benefits
Location: Central London
A leading US and London-based
high frequency trading firm
requires a quant trader.
Candidates must have a PhD or
masters in computer science from
a top 100 global university, and
five years experience in a senior-
level trading position.
Text: JOB 33509 to 60066 for more
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Marketing guru Seth Godin talks about
his new book The Icarus Deception,
and what the connection economy
means for your career.
CITYAMCAREERS.com
The rise of cloud computing
Seth Godin on success
Banking operations is becoming an
exciting and competitive area. Find
out the three skills that employers
look for and how you can get them.
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triathlete and managing partner of
audit at Deloitte Panos Kakoullis on his
career and how to get ahead.
Oiling the engine of the banks
A view from the top
ROLE SALARY (,000)
Underwriting
Commercial U/Wmanager (0-10 yrs) 67-81
Senior commercial underwriter (6-10 yrs) 55-71
U/Wtechnician (6-10 yrs) 23-32
Claims
Claims manager (6-10 yrs) 42-50
Senior claims handler (6-10 yrs) 32-35
Claims technician (6-10 yrs) 27-33
Broking
Account director (6-10 yrs) 39-72
Account handler (3-5 yrs) 23-32
Broker technician (3-5 yrs) 20-29
SALARY EXPECTATIONS FOR INSURANCE
PROFESSIONALS IN LONDON
SOURCE:REED
MONDAY 11 FEBRUARY 2013
20
cityam.com
ACCOUNTING AND FINANCE
Insolvency Partner
Salary: 125,000 to 300,000 per annum, plus bonus and benefits
Central London
A well-known mid tier firm is seeking a partner to grow its
insolvency practice. Applicants must currently be working in an
accountancy firm or an insolvency boutique.
Text: JOB 33325 to 60066
Director Scheme Actuary
Salary: 150,000 per annum, plus benefits
Central London
A large accountancy firm is looking to create a trustee department.
Candidates must be scheme actuaries, with entrepreneurial flair
and the backing of a large organisation and personal brand.
Text: JOB 33241 TO 60066
Global Financial Controller
Salary: 100,000 to 115,000 per annum
Central London
A global banks asset management division requires a high calibre
qualified accountant. Candidates must have strong communication
skills and a pro-active approach to problem solving.
Text: JOB 33794 to 60066
Finance Business Partner
Salary: 75,000 to 80,000 per annum, plus bonus and benefits
South East
A finance business partner is required by this growing Europe,
Middle East and Africa-focused entity. Candidates must be qualified
accountants with previous finance business partnering experience.
Text: JOB 34039 to 60066
Accounting Policy Manager
Salary: 70,000 to 75,000 per annum, plus car, bonus and
benefits
Central London
A leading global bank requires a high-calibre qualified accountant
to join its group accounting policy team. Candidates should be
commercially-minded and have technical accounting experience.
Text: JOB 33809 to 60066
Financial Controller
Salary: 61,000 to 80,000 per annum
London
A FTSE 250-listed property developer requires a financial controller.
Candidates must be degree educated, and fully-qualified ACA from
one of the Big Four. A background in property would be a bonus.
Text: JOB 33998 to 60066
Fund Accountant
Salary: 66,000 per annum
Central London
An investment management firm, specialising in cleantech
investments, is looking to hire an accountant as maternity cover.
Ideal candidates will have previous fund management experience.
Text: JOB 34008 to 60066
Property Finance Manager
Salary: 60,000 to 70,000 per annum
Central London
A pan-European investment company requires a finance manager
to review the financial control work of two funds. Applicants
should have at least two years post-qualified experience.
Text: JOB 33892 to 60066
Solvency II Finance Manager
Salary: 65,000 per annum, plus bonus and benefits
Central London
A London-based insurance company seeks a qualified accountant
with excellent Solvency II and IFRS knowledge. Responsibilities
include ensuring delivery within Solvency II reporting deadlines.
Text: JOB 33815 to 60066
Internal Audit Manager
Salary: 50,000 to 60,000 per annum, plus bonus and benefits
Central London
A leading spread-betting brokerage requires a senior internal
auditor. An accountancy or Institute of Internal Auditors
qualification is highly desirable.
Text: JOB 33955 to 60066
Assistant Management Accountant
Salary: 48,000 to 60,000 per annum
Central London
An asset management firm, specialised in renewable energy,
requires an assistant management accountant for a one to three
month period. Ideal applicants will be part-qualified accountants.
Text: JOB 34061 to 60066
Accountant
Salary: 45,000 to 55,000 per annum
Central London
A property firm is seeking newly-qualified accountants to fill a role
split 50/50 between monthly accounts and business partnering.
Text: JOB 34036 to 60066
Finance Manager
Salary: 42,000 to 45,000
Central London
An investment firm requires a highly-driven ACA-qualified
accountant to take on a wide breadth of responsibilities.
Text JOB 34050 to 60066
ASSET MANAGEMENT
Senior Asia Ex Japan Equity Portfolio Manager
Salary: 120,000 to 250,000 per annum
Singapore
A top asset management firm requires candidates with a minimum
of director-level experience, and a track record managing an Asia
ex Japan equity fund.
Text: JOB 33093 to 60066
Director, Fund Management
Salary: 70,000 to 120,000 per annum
Central London
A wealth management firm requires an experienced director.
Experience across all major asset classes is desirable.
Text: JOB 33690 to 60066
Equity Fund Research Analyst
Salary: 70,000 to 80,000 per annum
Central London
A prestigious investment management firm requires an
experienced fund specialist to join a team of four. A genuine
passion for fund selection is vital.
Text: JOB 33721 to 60066
Financial Analyst
Salary: 60,000 to 66,000 per annum
Central London
A global investment manager requires an analyst on a six months
contract to take responsibility for financial analysis planning and
reporting on costs. A solid understanding of management
accounting principles is necessary.
Text: JOB 34035 to 60066
Operational Risk Manager, Fund Management
Salary: DOE
South East
A prestigious asset management firm seeks a risk specialist with
proven strategic planning and business/enterprise risk expertise to
implement new risk initiatives across the retail investment sector.
Text: JOB 33921 to 60066
VP Director Advisory Compliance
Salary: 90,000 to 120,000 per annum
Central London
An investment bank requires an experienced compliance officer.
Candidates must have broad technical knowledge, and have
previously covered equity and fixed income cash activities.
Text: JOB 34055 to 60066
Fixed Income Markets Compliance Advisory
Salary: 96,000 to 120,000 per annum
Central London
The fixed income front office of a City-based corporate and
investment bank is recruiting a compliance adviser. Applicants
must have a strong knowledge of fixed income products. This
opening needs to be filled urgently.
Text: JOB 33711 to 60066
Performance Measurement Analyst
Salary: 48,000 to 60,240 per annum
Central London
A major wealth and asset management firm requires an
experienced performance reporting analyst. Prior experience is
essential, and IMC or CIPM qualifications are preferred.
Text: JOB 33677 to 60066
Cost Analyst
Salary: 48,000 per annum
Central London
A real estate fund management firm requires a cost analyst on a
temporary basis. Ideal candidates are part-qualified accountants.
Text: JOB 34032 to 60066
COMPLIANCE
Senior Commodities Advisory Compliance
Salary: 100,000 to 140,000 per annum
London
An Investment bank seeks a compliance professional to join its
commodities compliance division based on the trading floor
Text: JOB 34093 to 60066
Compliance Manager Foreign Corrupt Practices Act
Salary: 120,000 to 168,000 per annum
London
A professional practice requires a senior compliance officer to work
on a consultancy basis, with responsibility for FCPA compliance.
Text: JOB 33130 to 60066
Compliance Manager
Salary: 80,000 to 100,000 per annum
New York
An established global hedge fund requires a compliance manager
who is authorised to work in the US. The role is broad, and you will
be working to a risk-based review plan
Text: JOB 34010 to 60066
Hedge Fund Compliance Officer
Salary: 50,000 to 80,000 per annum
London
This is a newly created role for an experienced compliance officer,
with a strong knowledge of the FSA handbook. A background in
hedge funds, asset management, or sell-side is required.
Text: JOB 34094 to 60066
Operational Risk and Compliance Manager
Salary: 50,000 to 60,000 per annum
London
You will need to have a solid understanding of operational risk and
control frameworks, and its implications. The role will require you
to manage and improve current procedures.
Text: JOB 34002 to 60066
Compliance Officer to cover maternity leave
Salary: 50,000 to 70,000 pro rata
City of London
Providing maternity cover within the legal and compliance team of
a top European hedge fund. You will need to have two to five
years experience in investment management or hedge funds.
Text: JOB 33621 to 60066
Compliance Executive
Salary: 50,000 to 60,000 per annum
London
An investment manager seeks a generalist, with a minimum five
years experience. The role involves providing regulatory advice,
and assist in the implementation of new policies.
Text: JOB 33848 to 60066
Compliance Officer
Salary: 70,000 to 90,000 per annum
London
An investment firm seeks a compliance expert to be the firms
London expert on the FSA. You will need to demonstrate a strong
background in investment banking compliance.
Text: JOB 33846 to 60066
Compliance Analyst
Salary: 30,000 to 40,000 per annum
London
An investment management seeks an analyst to assist with a
variety of duties related to portfolio compliance, operating
policies, and fund/client imposed investment limitations.
Text: JOB 33844 to 60066
CONSULTANCY
Principal EPM Consultant - Banking Industry
Salary: 70,000 to 90,000 per annum
Central London
A management consultancy requires experienced candidates who
specialise in enterprise performance management. Knowledge of
anti-money laundering principles is essential.
Text: JOB 33994 to 60066
Senior HCM Consultant
Salary: 60,000 to 80,000 per annum, plus car, bonus and
benefits
Amsterdam
A leading management consultancy requires an experienced HCM
strategy consultant, focused on rewards and compensation.
Candidates must be capable of liaising with CFO stakeholders.
Text: JOB 34136 to 60066
Business Process Outsourcing Consultant
Salary: 50,000 to 90,000 per annum
London
A large consulting player has an opportunity for a professional
who can take all of his or her experience into a single project.
Finance experience would be a valuable asset.
Text: JOB 34003 to 60066
Senior Business Analyst
Salary: 70,000 to 80,000 per annum,
plus bonus and benefits
Central London
An established asset management firm is
looking for candidates with extensive
business analyst experience. Multi asset
class business knowledge is essential.
Text: JOB 33632 to 60066
Head of Compliance and Money
Laundering Reporting
Salary: 100,000 to 140,000 per annum
London
An opportunity has arisen in a private
equity firm. Candidates must have a strong
track record in compliance, ideally in
private equity or a hedge fund.
Text: JOB 34135 to 60066
Head of Financial Planning and Analysis
Salary: 90,000 to 100,000 per annum,
plus benefits and bonus
London
A financial services technology firm needs
to fill a newly-created position to support
its finance director. Candidates should have
a background outside of financial services.
Text: JOB 34045 to 60066
for details text JOB [job number] to 60066
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@CAMC_Banking
21 CITYAMCAREERS.com
cityam.com
MONDAY 11 FEBRUARY 2013
Lead Assessor - Consultancy
Salary: 60,000 to 70,000 per annum
London
A leading expert in responsible management practice requires
candidates able to provide consultancy support on ethical business.
Candidates will preferably have Big Four experience.
Text: JOB 33571 to 60066
Agile Project Manager
Salary: 40,000 to 50,000 per annum, plus benefits and bonus
UK
An innovative technology consultancy requires an application
development project manager to work on site with prestigious
clients. Candidates must have good experience with Agile.
Text: JOB 33822 to 60066
DERIVATIVES AND FX
Institutional FX Sales
Salary: 50,000 to 80,000 per annum
Central London
A leading global financial institution requires several top quality
eFX institutional sales candidates. Applicants must have three to
four years FX experience.
Text: JOB 33741 to 60066
Entry Prop Trader
Salary: 30,000 to 35,000 per annum, plus 100,000 bonus
expected
Central London
A leading London-based trading house is looking to expand its
client base into FX and commodities. The job involves taking
absolute responsibility for the performance of trading strategies.
Text: JOB 34109 to 60066
CFX Manager
Salary: 65,000 to 85,000 per annum
London
A leading provider in foreign exchange requires a finance manager.
Candidates with experience of a treasury role or FX are ideal.
Responsibilities involve managing a team of two.
Text: JOB 34107 to 60066
FX Product Control Manager
Salary: 55,000 to 65,000 per annum, plus bonus and benefits
Central London
A leading bank requires a qualified accountant to join its treasury
product control team. Responsibilities include daily profit and loss
analysis of FX and derivatives.
Text: JOB 34143 to 60066
lNSURANCE
Head of Capital Planning
Salary: 100,000 to 150,000 per annum, plus benefits and
relocation package
Switzerland
A leading global insurance group requires a head of capital
planning to work in its Switzerland office. The job involves leading
the team responsible for analysing economic capital model results.
CFAs or qualified actuaries are ideal applicants.
Text: JOB 33740 to 60066
Financial Planning and Analyst
Salary: 75,000 to 95,000 per annum
Central London
A leading insurer is looking to fill a position as number two in its
finance team. Candidates must be either qualified accountants or
have worked in insurance for at least 10 years. Experience with
Oracle systems is ideal.
Text: JOB 34104 to 60066
Financial Accountant
Salary: 84,000 per annum
Central London
A Top Five general insurer is recruiting a group financial accountant
to join for an initial six month period. Candidates must have solid
technical knowledge, particularly of IFRS.
Text: JOB 34041 to 60066
INVESTMENT AND CORPORATE
BANKING
Mergers and Acquisition Assistant Director
Salary: 110,000 per annum
Central London
A leading corporate finance firm requires a very high calibre
assistant director to join its M&A team. Applicants must have
outstanding academic records, and a proven record at a leading
investment bank.
Text: JOB 33787 to 60066
Director - Mining Corporate Finance
Salary: 125,000 per annum, plus bonus and benefits
London
A boutique investment bank, with a strong Canadian parent,
requires an experienced mining financier. Applicants must be
experienced bankers, covering mid-cap global mining stocks.
Text: JOB 33689 to 60066
M&A Senior Associate
Salary: 80,000 to 90,000 per annum, plus bonus
London
A leading corporate finance firm requires an exceptional senior
associate to join its M&A team. Candidates must have a proven
record of achievement at a top-tier investment bank.
Text: JOB 33789 to 60066
Associate - Corporate Finance
Salary: 60,000 to 70,000 per annum, plus bonus and benefits
London
A top-rated corporate finance advisory firm is seeking an associate
to join its growing London team. Successful candidates will have
three to five years experience in corporate finance.
Text: JOB 34033 to 60066
M&A Healthcare Analyst
Salary: 55,000 per annum, plus bonus and benefits
City of London
A leading specialist boutique, operating in life sciences, requires an
analyst to originate and execute corporate finance transactions.
Candidates must have a background in healthcare.
Text: JOB 33790 to 60066
Associate - Media and Television
Salary: 45,000 to 55,000 per annum, plus bonus and benefits
London
A TMT-focused corporate finance boutique requires an associate.
Candidates will have qualified in audit.
Text: JOB 34043 to 60066
Life Statutory Reporting Accountant
Salary: 55,000 to 65,000 per annum, plus bonus
Central London
A large UK life insurer requires qualified accountants with life
insurance experience. Strong IFRS and FSA reporting skills are
essential.
Text: JOB 33533 to 60066
Senior Marine Cargo Claims Adjuster
Salary: 45,000 to 65,000 per annum
Central London
An international insurer requires an experienced claims adjuster.
Experience of the marine insurance market is essential.
Text: JOB 33528 to 60066
OPERATIONS
Operations Analyst
Salary: 75,000 to 90,000 per annum
Central London
An established hedge fund is looking to fill a role reporting to its
head of operations. The job involves the full range of
responsibilities across desk support, middle office, and back office
management. Broad multi asset product knowledge is essential,
and experience dealing with commercial real estate loans is useful.
Tex: JOB 33611 to 60066
Securities Business Manager
Salary: 65,000 to 80,000 per annum
London
A securities house seeks a new business manager. Candidates
should be from a sell-side background.
Text: JOB 33541 to 60066
Trade Assistant
Salary: 40,000 to 50,000 per annum
London
An alternative asset management firm requires a trade assistant,
ideally with two to four years experience.
Text: JOB 34042 to 60066
OTC Trade Support Manager
Salary: 45,000 to 55,000 per annum
London
An OTC trade support supervisor, ideally with a brokerage
background, is required to supervise a medium-sized team.
Text: JOB 33716 to 60066
PRIVATE BANKING
Director, Private Banking
Salary: 120,000 to 150,000 per annum, plus bonus
Central London
A prestigious private bank seeks a director, currently working
within wealth management, to manage and grow $70m of assets.
Text: JOB 33614 to 60066
Senior Private Banker
Salary: 120,000 to 240,000 per annum, plus bonus and benefits
Europe
An experienced private wealth manager is required to service
onshore and offshore clients across Switzerland and Europe.
Text: JOB 33255 to 60066
Private Banker Desk Head
Salary: 200,000 to 300,000 per annum, plus ultra competitive
bonus
Geneva
A top-ranked private bank, based through the Middle East, requires
a desk head to aid the management of its Turkey ultra-high net
worth segment. Candidates will have an existing private banking
client portfolio already in place.
Text: JOB 33980 to 60066
Senior Private Banker
Salary: 65,000 to 120,000 per annum.
South East, London
An RDR-qualified banker with experience of servicing clients in the
UK and emerging markets is required. The candidate will need to
be mobile for the next two to three years.
Text: JOB 33254 to 60066
QUANTITATIVE ANALYTICS
Quant Fixed Income Market Maker
Salary: 120,000 per annum, plus bonus and benefits
Central London
A leading high frequently prop trading firm has an outstanding
opportunity for a quant fixed income market maker. Candidates
must have a PhD/masters in computer science.
Text: JOB 33949 to 60066
Quant Trader
Salary: 70,000 to 100,000 per annum
A leading global investment bank requires two outstanding
quantitative individuals. Both roles require strong coding ability,
including C++ and possibly Python.
Text: JOB 33774 to 60066
Quantitative Developer Risk Big Data
Salary: 50,000 to 85,000 per annum, plus bonus and benefits
Central London
A financial risk management firm requires a C++ quantitative
developer to become involved in all aspects of the company.
Candidates should have financial regulatory experience.
Text: JOB 33465 to 60066
RESEARCH
Equity Fund Research Analyst
Salary: 70,000 to 80,000 per annum
Central London
A prestigious investment management firm is seeking an
experienced fund research specialist. Successful candidates will
have the necessary skills to engage with all internal and external
investors.
Text: JOB 33721 to 60066
Fund Analyst
Salary: Strong basic, plus bonus and benefits
Central London
A leading international investment consultancy is looking to hire
an individual to be responsible for the research of, and ongoing
analysis and dialogue with fund managers around the globe.
Text: JOB 33826 to 60066
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Graduate Trainee Sales and Dealing
Salary: Competitive, plus benefits
City of London
IG group is looking for graduates to join on
a six week structured training course.
Candidates must have a minimum of 2:1
degrees. This is an exciting opportunity to
join IGs sales and dealing operations.
Text: JOB 34064 to 60066
Corporate Finance Originator
120,000 per annum
Central London
A boutique advisory firm requires a senior
director in corporate finance. Candidates
with recent deal closing experience are
preferred, and ideal applicants will be from
larger banks.
Text: JOB 34076 to 60066
Private Equity Associate Fund
Salary: 70,000 per annum
Central London
An private equity fund management firm is
looking for two associates. Ideal candidates
will have a degree or PhD in a scientific
subject and a minimum of three years
experience in a bank or fund.
Text: JOB 34091 to 60066
@CAMC_Insurance
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Credit Rating Agency Internal Advisory
144,000 per annum
London
A international bank is looking to improve
its capabilities in credit rating agency
management. Candidates must have in-
depth knowledge and experience working
at Moodys, S&P or Fitch.
Text: JOB 34160 to 60066
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RISK MANAGEMENT
Interim Head of Risk and Compliance
Salary: 204,000 per annum
Central London
A niche bank requires candidates who are committed to an interim
career, with a banking background and extensive years in risk or
compliance (and ideally both). The role involves managing the
credit approval process.
Text: JOB 34054 to 60066
Senior Quantitative Risk Modelling
Salary: 70,000 to 100,000 per annum
London
A leading global investment bank seeks to bring two outstanding
quantitative individuals to the London office of its global risk
modelling team. Strong coding ability is essential, particularly in
C++ but potentially Python also.
Text: JOB 33774 to 60066
Credit/Market Risk Consultant
Salary: 70,000 to 80,000 per annum
London
A market-leading consultancy seeks a risk consultant. Candidates
will have worked in a financial services risk function. Consulting
experience is useful, but not essential.
Text: JOB 33978 to 60066
Senior Quantitative Risk Manager
Salary: 60,000 to 85,000 per annum, plus benefits and bonus
London
A leading risk management consultancy requires a senior quant
risk analyst to work on site at leading Tier 1 investment banks.
Candidates must have a strong background in financial regulations.
Text: JOB 33875 to 60066
Senior Risk Consultant
Salary: 70,000 per annum
London
A growing consultancy has an opening in its risk practice.
Candidates will have experience from a player in the industry.
Basel III, liquidity risk, and stress testing knowledge is vital.
Text: JOB 33977 to 60006
Operational Risk and Compliance Manager
Salary: 50,000 to 60,000 per annum
London
A financial services firm seeks to fill a position providing
operational risk support. Understanding of regulation is essential.
The role involves providing educational support.
Text: JOB 34002 to 60066
Credit Risk Analyst - Counterparty Risk
Salary: 40,000 to 50,000 per annum
Central London
An individual with demonstrable relevant experience in a bank,
brokerage or trading house is being sought for a temporary to
permanent role.
Text: JOB 33384 to 60066
SALES AND MARKETING
Property Sales/Middle East
Salary: Up to 100,000 per annum, plus relocation allowance,
bonus and benefits
Middle East
A Middle Eastern bank requires candidates with experience in real
estate within a reputable bank. Applicants will ideally have
knowledge of the GCC market. Arabic skills are useful.
Text: JOB 34110 to 60066
European ETRM Sales Manager
Salary: 110,000 to 130,000 per annum, plus bonus
Central London
A leading ETRM and CTRM vendor immediately requires a software
sales consultant. A proven track record in ETRM sales is vital.
Fluency in other European languages would be useful.
Text: JOB 33966 to 60066
Senior Pricing Manager
Salary: 60,000 to 75,000 per annum
London
A global bank has an exciting opportunity for a senior pricing
manager to develop, implement and maintain the pricing strategy
for its UK insurance business arm.
Text: JOB 34123 to 60066
Senior Strategy Development Manager
Salary: 50,000 to 70,000 per annum
London
A financial services firm requires a candidates to support senior
management in refining strategy for consumer lending.
Text: JOB 34125 to 60066
Senior Brand Design Manager
Salary: 50,000 to 60,000 per annum
London
A financial services firm has an opportunity to champion creative
expression at a top brand. Experience at a creative agency is vital.
Text: JOB 34119 to 60066
INFORMATION TECHNOLOGY
Senior Business Architect
Salary: 120,000 to 144,000 per annum
London
An entrepreneurial IT management consultancy is looking for an
architect with a proven track record of providing high calibre
architectural support in the business and strategy area.
Text: JOB 33946 to 60066
Chief Technology Officer
Salary: 100,000 to 150,000 per annum
London/Moscow
A software vendor is looking to fill a board level role. Candidates
will be based in Russia for three months.
Text: JOB 33384 to 60066
ETRM Delivery Project Manager
Salary: 100,000 to 110,000 per annum, plus bonus and benefits
Zurich
A leading ETRM consultancy is immediately seeking an exceptional
project manager with strong experience in ETRM. Candidates must
have excellent stakeholder management skills.
Text: JOB 33967 to 60066
NoSQL Hadoop Developer
Salary: 100,000 per annum, plus bonus and benefits
Central London
A niche software provider in the financial big data market requires
a candidate to join its in-house delivery team. This is a rare
opportunity to work with the top technologists in the industry.
Text: JOB 33422 to 60066
Senior Java Integration Developer
Salary: 85,000 to 100,000 per annum, plus benefits and bonus
London
A leading financial brokerages requires a developer to work on its
integration and latency monitoring of a low latency trading system.
Strong core Java development experience is vital.
Text: JOB 33885 to 60066
Tick Data Engineer
Salary: 80,000 per annum, plus bonus and benefits
Central London
A strong proprietary trading firm requires a candidate with a PhD
or masters in maths or computing. The job involves being the
single point of contact for resolving data problems.
Text: JOB 33172 to 60066
IT Security Manager
Salary: 80,000 per annum, plus bonus and benefits
Central London
A well-known tier 1 bank has created a role within the IT area to
facilitate a cohesive view of IT security bank-wide. Candidates will
have five years IT security experience in a financial institution.
Text: JOB 33317 to 60066
Business Intelligence Solutions Architect
Salary: 70,000 to 75,000 per annum, plus bonus and benefits
Central London
A technology consultancy requires a proven business intelligence
and solutions architect. Experience of banking is required.
Text: JOB 34173 to 60066
ETL Data Warehouse Designer
Salary: 72,000 to 96,000 per annum
Central London
A global investment bank is looking to fill a six month contract
with a possible extension, within a FX business area. Solid SQL skills
and hands-on experience of DQ/data profiling would be useful.
Text: JOB 33861 to 60066
Senior Java Developer - Big Data and Hadoop
Salary: 60,000 to 80,000 per annum, plus bonus and benefits
London
A financial services start-up, developing a revolutionary product
for the corporate governance sector, is looking to hire a senior
developer to work on Greenfield Big data development.
Text: JOB 33469 to 60066
Linux Hosting Systems Administrator
Salary: 60,000 per annum, plus bonus and benefits
East Anglia
A well-known global financial technology consultancy is looking
for a candidate with experience of Linux server administration.
Text: JOB 33550 to 60066
Portfolio Test Manager
Home Counties
Salary: 50,000 to 65,000 per annum, plus benefits
A European-wide insurance company requires portfolio test
managers to provide best practice guidance for critical major
projects.
Text: JOB 34180 to 60066
Java Developer
Salary: 45,000 to 55,000 per annum
Central London
A financial risk technology product vendor requires a developer to
join the full project life cycle development team. Core java multi-
threaded development knowledge is essential.
Text: JOB 33314 to 60066
IT Support Analyst
Salary: 45,000 to 55,000 per annum
Central London
A leading European hedge fund is seeking a high calibre individual
to join its infrastructure team. The successful candidate will have
excellent working knowledge of operating systems and networks.
Text: JOB 33888 to 60066
Senior Digital Project Manager
Salary: 40,000 to 45,000 per annum
Central London
An award-winning web design and development agency is looking
for a senior individual comfortable with managing budgets on
projects from 50,000 to 200,000-plus.
Text: JOB 33886 to 60066
Junior Developer/Designer
Salary: 23,000 to 25,000 per annum
Central London
City A.M. is looking to hire a junior developer with design skills to
join its expanding digital team. The role will involve exposure to
PHP.
Text: JOB 34166 to 60066
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MONDAY 11 FEBRUARY 2013
22
cityam.com
CITYAMCAREERS.com
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CITY CAREERS
@CAMC_Banking
Risk Senior Manager
Salary: 120,000 per annum
London
A market-leading consultancy seeks
candidates who are interested in taking a
hands-on role, working with leading
financial services to implement change in
their risk divisions.
Text: JOB 34000 to 60066
Chief Technology Officer
Salary: 200,000 per annum plus bonus
and benefits
London
A world leader in commodities trading
requires a chief technology officer urgently.
Candidates must have an understanding of
SAAS Architects.
Text: JOB 33730 to 60066
Project/Delivery Manager
Salary: 120,000 to 192,000 per annum
London
A bank requires a project manager to
deliver global technology for a major risk
project. Knowledge of financial instruments
is vital. A technical background within
banking is required.
Text: JOB 34102 to 60066
@CAMC_IT_Jobs
23
MONDAY 11 FEBRUARY 2013
cityam.com
I
THINK I closed my eyes as the
other boy pounded my face,
punch after punch. It seemed I
had no defence. Trying to hit
him back or to block him was
just useless. The minister eventually
broke us up, and it was only then
that I burst out crying. I didnt
come to church group for this! I
dont want to box! He looked at me
sadly. I had you do this for a reason:
its good for 14-year-olds. It helps you
grow up. A hundred thoughts filled
my head. I was normal, why did I
need to grow up? How does getting
beaten up somehow mature you? Is
there something religious about
suffering being good for you? But I
replied meekly, I just want to play
chess. He shook his head slowly.
Chess? Chess will never get you
anywhere.
Despite the advice, I never boxed
again, and I played lots of chess. I
played competitively, all over
Australia and later internationally. I
loved it. To me it was gymnastics
with the mind, a pure contest, one-
on-one, with no discrimination for
wealth, education or age. It was
perfect for me too, a small, shy,
lonely, backward and awkward boy
growing up in a loveless foster
home.
Beating adults was the most fun.
It was puzzling that despite their
supposed superiority they were so
clumsy with their pawns and
bishops. I improved quickly and by
the time I was 15 made it into the
newspapers by beating the adult
state champion. As a top junior, I
gave exhibitions, playing lots of
people at once in supermarkets or
schools. I made good pocket money
and learnt to hustle playing the
park players for stakes.
Chess was good for me. Despite
the obsession, my school results
soared, my confidence
blossomed and I made lots of
friends. A beautiful
girl fell in love
with me,
watching me win
two games at
once I was
blindfolded. I learnt to think too.
After all, are there any other
activities that will get a teenager to
sit quietly, absorbed in deep
concentration and mental analysis,
while carefully choosing an option?
Certainly not computer games.
But at around 20, I abruptly
gave it up (until recently). I
realised I wasnt world class,
and I also realised the
diminishing returns
involved more and more
effort to get a little bit better. I
also realised that chess
has its limitations. Its a
strange game; you dont
talk to an opponent
while playing, its rude
to even look at him.
The big weaknesses,
though, are that in
chess there is no
randomness and that
all the required information is in
front of you. If you play the right
moves, youll never lose. My finance
and business careers were held back
until I realised that, just like in life,
the right decision doesnt always
win, and success doesnt always
reflect the right decision. You need
to expect the unexpected and
anticipate human reactions.
Observing the world around you is
not required in a chess battle.
Im far more worldly now than
when I was beaten up in church. But
Ill always be happy to be a little bit
of a nerd, because far from getting
me nowhere, chess was my
salvation.
Richard Farleigh has operated as a
business angel for many years, backing
more early-stage companies than anyone
else in the UK.
www.farleigh.com
Annabel Palmer talks to the pair behind Fab, the company trying to bring design to the masses
J
ASON Goldberg and Bradford
Shellhammer, founders of the
overnight internet sensation
Fab.com, were almost too busy
for our conversation to take
place. That may be an occupational
hazard if youve made it your
mission to change the world.
Fab.com is the hugely successful
flash-sale site, that sells design items
as diverse as furniture and
jewellery covering all price points.
Goldberg, it would seem, is a born
entrepreneur. He began his career
working on Bill Clintons 1992 presi-
dential campaign, before creating
two start-ups Jobster and Social
Median. Shellhammers background
is in retail design, but he also main-
tained a career as a prolific blogger.
The duo first met in a nightclub in
New York 14 years ago, but it was only
in 2010 that they joined heads to
form a travel guide, focused at the
gay community, called Fabulis.
I wasnt long before they realised
Fabulis didnt excite them, despite a
membership of 150,000 and a round
of funding that raised $2m (1.27m).
It wasnt going to change the
world, says Goldberg. So over dinner
and a bottle of wine in 2011, they
asked themselves what could achieve
this lofty ambition. My passion is
designing user interfaces; Bradfords
passion is helping people design
their lives. So I asked myself: How
can I bring Bradford to the rest of the
world? We knew design was the
answer.
Their investors and board of direc-
tors instantly supported their need to
pivot the business. That conversa-
tion lasted 20 minutes they knew
we were passionate, says
Shellhammer. You have to find one
thing youre truly passionate about
and do it. I didnt want to spend
another dollar, or minute, or
resource on something I didnt
believe could be big, says Goldberg.
They have never encountered any
challenges finding financial backing.
Theyve raised over $150m in three
different rounds since they launched.
What investors want is a big idea,
backed up by data.
In February 2011, they targeted a
June launch. In the interim, Goldberg
built the technology; Shellhammer
worked with the design community
to source designers and products.
They had 175,000 people sign up to
the website (only 5,000 of which had
transferred from Fabulis), before they
launched the result of highly-target-
Company name: Fab
Founded: 2011
Number of staff: 650
JobTitle: Founder and chief executive
Age: 40
Lives: New York City
Studied: MBA at Stanford University
Drinking: Bordeaux red wine
Reading: Instagram photographs
Talents: Making people smile
Favourite business book: The Phaidon
Archive of Graphic Design
Heroes: Jeff Bezos
Jobtitle: Founder and chief design
officer
Age: 36
Born: Baltimore
Studied: Communications and media
studies, Goucher College
Drinking: Ketel One on the rocks
Reading: Specimen Days, by Michael
Cunningham
Favourite business book: The
Philosophy of Andy Warhol
Motto: Be loud. Never let others
keep you quiet
Shellhammer (left) and Goldberg (right), are in this for the long term
ENTREPRENEURS
Chess players may be nerds but they sometimes pack a punch
JASON GOLDBERG
CV
BRADFORD SHELLHAMMER CV
of a SERIAL
ENTREPRENEUR
RICHARD FARLEIGH
CONFESSIONS
E
NTREPRENEURS found start-ups.
Being entrepreneurial means
starting a new company, with an
original idea, or a more efficient
process. Or so the old story goes.
But does it need to be this way? Not
according to professor Miguel Meulemann of
Vlerik Business School in Belgium.
Meulemann has launched a new initiative
at the school devoted to promoting and
explaining the advantages of company buy-
outs for budding entrepreneurs. There are
lots of obstacles between theory and
practice for anyone looking to start a
successful business. Only a few succeed, he
explains. But the risks involved in a buy-
out are a lot lower than those involved in a
start-up, as the company already has an
existing product along with its own clients,
suppliers, and investors.
He is correct. An existing company has a
history a proven idea, a supply chain, and
most have a market. A buy-out may also be
an interesting idea for employees of a
privately-held business. If your employer is
in trouble, and you consider yourself (or you
and your colleagues) better suited to
running the firm, buying him or her out
could the solution.
Its not necessarily a simple process. How
do you value the firm, for instance? And
once youve reached a valuation, how will
you fund the purchase? Many companies
(especially smaller ones) are sustained by
relationships that border on the personal.
With new management in charge, will those
continue?
But if you are interested in buying an
existing company, there are also solutions to
these problems. Lloyds TSB Commercial
Finance, for example, offers specialist
management buy-out products that enable
you to leverage the value of a firms assets.
This may allow you to fund a buy-out
without relinquishing equity or taking on
additional debt.
Meulemann isnt saying buying an
existing company is necessarily any easier
than starting one of your own. But its at
least worthy of some consideration.
Tom Welsh is business features editor at
City A.M.
Buying an existing
firm has its pluses
INNOVATION
DIARY
TOM WELSH
Why sometimes it pays
to return to square one
Hed rather be playing
chess
ed Facebook advertising. I spent
around $50,000 doing that so not a
lot of money and focused on users
who had an interest in design, technol-
ogy and start-ups. We created a viral
effect, says Goldberg. On their first
day they sold $65,000 worth of prod-
uct. It took 20 days to sell $1m. In 2012,
sales grew by 500 per cent. How do
they explain the instant success? The
formula is simple. We put products on
our website that excited people, that
they wouldnt find elsewhere, and that
were never knockoffs. We were
unique.
At least, until the Samwer brothers
the German trio who have made a
business out of finding promising
internet companies, and cloning them
internationally created rival brand
Bamarang. But it couldnt compete
and has since shut down, and 30 per
cent of Fabs sales are now outside the
US. Astonishingly, almost a third of its
sales are done on mobile apps, about
half of its 11m members come from
social sharing, and on any day 25 per
cent of its traffic comes from
Facebook. This may explain why over
half of its members are under the age
of 35.
I ask whats next. They inform me
that they want to be the next Ikea the
$30bn business, that operates in 80 dif-
ferent countries, and represents the
same thing all over the world.
Goldberg has a plan to get Fab to $1bn
in sales within the next three years.
But even then, well only be one thirti-
eth the size of Ikea. I wonder if
Goldberg, for whom this is one of
many start-ups, will stay at Fab for
long. Shellhammer is quick to say hes
in it forever. And Goldberg? Im in it
for as long as Bradford is here.
LIFE&STYLE
MONDAY 11 FEBRUARY 2013
24
cityam.com
TRAVEL
W
HETHER YOU crave sea air
and sunshine, meadows
and mountains or lush
forests, nows the perfect
time to plan a spring break
to blow away the winter cobwebs.
Jump in the car and make tracks to a
beautiful UK bolthole, lace up your
walking boots and tackle some of
Italys most scenic hill climbs, strap
on a snowboard in the French Alps or
take to a horses back for unspoilt
ocean views on the Isle of Man. These
holiday ideas will provide a much
needed dose of fresh air to get the
whole family moving.
Loch-side family fun in Scotland
Scotland is renowned for its
countryside and lochs, so why not
combine the two with a trip to the
Queen Elizabeth Forest Park at the
foot of Ben Ledi mountain. Learn
how to canoe as you explore the
wonders of Loch Lubnaig.
Or you could head off on a hidden
glen safari. With the help of an
experienced guide, discover the rich
history and unique nature of
Strathyre. Look out for elusive red
deer and golden eagles while
learning how farming past and
present has shaped the landscape.
Where to stay: Forest Holidays
provides luxury log cabin breaks in
Strathyre within the Queen
Elizabeth Forest Park to suit all
family sizes. Prices start from 272
for a four night break.
Hill walking in Tuscany
Olive groves, vineyards, and endless
picturesque villages make Tuscany a
hikers dream. There are countless
trails in the region suitable for
hikers of all abilities, many of which
climb into the lush Tuscan hills and
offer panoramic views of the region.
If youre ready to don your
walking boots, a good place to start
is Gorgiti. Here a 16km trail passes
through the slopes of Pratomagno, a
mountain range surrounded by the
river Arno on the side of the
Valdarno valley.
Where to stay: Tuscany Now
offers villas in some of the best
walking territory of the region.
Prices start from 571 per week.
Horseriding on the Isle of Man
A short skip and jump from the
mainland, flights from London City
to the Isle of Man take just over an
hour. This underrated island is an
adventure playground for lovers of
the great outdoors. One of the best
ways to see the countryside is on
horseback. Wade through rivers and
canter through secluded stretches of
the 100 mile coastline. Trek deep
into the beautiful countryside to
experience breath-taking views only
accessible from horseback.
Take the reins at one of the
islands trusted riding stables to
develop your equestrian skills in a
safe learning environment. The
Ballchurry Equestrian Centre offers
beach and river rides and provides
tuition for riders as young as four
years old.
Where to stay: The Sulby Glen
Hotel near the town of Ramsey is a
traditional country inn and
provides a warm welcome to
families. The inn has lovely views of
Kimberley Button picks five of the best half term holiday ideas to keep the family happy
the glens and mountains and is
renowned for home-cooked hearty
food just what you need after a
day in the fresh air on horseback.
Standard room rate is 35 per
person, per night including
breakfast.
Archaeology in Sicily
Sicily is a history lovers paradise.
The Mediterranean was the cradle
of western civilisation and this
island was at its heart: its littered
with relics from the last 3,000 years.
Make the most of the quiet season
and gentle climate by paying a visit
to The Valley of the Temples near
Agrigento on the south coast. The
valley is home to eight ancient
Greek temples in various states of
dilapidation, including the many
sturdy columns of The Temple of
Hercules and the remarkably well-
preserved Temples of Concord. The
site is surrounded by olive groves
and overlooks the Mediterranean
Sea.
Make sure you leave enough time
to visit the nearby National
Archaeological Museum, which is
filled with fascinating ancient
artefacts a must for history lovers
of all ages.
Where to stay: Sicily offers a
wide range of family-friendly villas
that are ideal for a half term
break. Villa Olive is a
contemporary property with easy
access to the beach, a private
panoramic pool and olive groves
for exploring. Villas start from
5,610 per week.
Swaying palms and sand in Barbados
If youre in need of a big dose of
sunshine, head for the soft ,white
beaches and sparkling waters of the
Caribbean. Mullins Beach, found on
the west coast of Barbados, is a
popular choice for families,
boasting villas with sun decks
metres from the waves. This golden
stretch, also known as the Platinum
Coast, has calm waters ideal for
swimming and snorkelling. You
may be tempted to stick to
sunbathing, but if you venture from
your lounger you will be rewarded
with some memorable days out,
including the Barbados Wildlife
Reserve, the Animal Flower Cave
(which boasts tidal pools and sea
caves that harbour all kinds of sea
creatures), and Harrisons Cave,
where kids can explore a dizzying
array of stalactites and stalagmites
deep beneath the earth.
Where to stay: CV Travels
beachfront house Easy Reach is
positioned directly on Mullins Beach,
with golf and tennis facilities close
by. The villas staff will do the
cooking, leaving you to enjoy a
relaxing family holiday. The villa
sleeps six and prices start from
3,152 per week.
Clockwise from top left: loch-side fun in Scotland; the ultimate
relaxation in Barbados; horseriding on the Isle of Man; hiking in
Tuscany; the mystery of Sicilys ancient sites
25
TV & GAMES
cityam.com
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BBC1
SKY SPORTS 1
7pmLive Monday Night Football
11pmNetbusters 11.30pmSPL
Round-Up 12amSoccer AM1am
Monday Night Football 3.30am
Netbusters 4amSPL Round-Up
4.30amSoccer AM
5.30am-6amLive International
Twenty20 Cricket
SKY SPORTS 2
7pmSuper League Full Time
8pmWomens Cricket World Cup
10pmSuper League Full Time
11pmFishing Gurus 12am
Womens Cricket World Cup
2amEuropean Tour Golf 4am
PGA Tour Classic 5am-6am
PGA Tour Golf
SKY SPORTS 3
7pmFishing Gurus 8pmIRB
Rugby Sevens 10pmWWE: Late
Night Bottom Line 11pmWWE:
Late Night Afterburn 12am
WWE: NXT 1amLive WWE: Late
Night Raw4.15amWWE From
the Vault 4.30amFishing Gurus
5.30am-6amThrillseekers
BRITISH EUROSPORT
7pmLive Snooker: The Welsh
Open 10pmSnooker: The Welsh
Open 11pmAlpine Skiing
12am-12.45amBiathlon
ESPN
7pmLive Scottish Premier
League Football 9.45pmFrench
Ligue 1 Review10.45pmESPN
Kicks: Serie A 11pmESPN FC
Press Pass 11.30pmPremiership
Rugby Union 12.30amRules of
the Game: Shrovetide Football
1.30amSerie A Review2am
Bundesliga Review Show3am
French Ligue 1 Review4amCopa
Libertadores 4.30amESPN
Game of the Week 5am-6am
Premiership Rugby Union
SKY LIVING
7pmThe Biggest Loser USA
9pmCriminal Minds 10pmCSI:
Crime Scene Investigation 11pm
The Spa 11.30pmBones
12.30amCriminal Minds 2.15am
Supernatural 3.05amBones
3.55amMedium4.45am
Nothing to Declare 5.10am-6am
Motorway Patrol
BBC THREE
7pmTop Gear 8pmJunior
Doctors: Your Life in Their Hands
9pmThe Year of Making Love
10pmWorlds Craziest Fools
10.30pmEastEnders 11pm
Family Guy 11.45pmAmerican
Dad! 12.30amWorlds Craziest
Fools 1amThe Year of Making
Love 2amPeople Like Us
2.55am-3.55amJunior Doctors:
Your Life in Their Hands
E4
7pmHollyoaks 7.30pmHow I
Met Your Mother 8pmNew Girl
9pmRevenge 10pmMy Mad Fat
Diary 11pmThe Inbetweeners
11.30pmThe New Normal 12am
The Big Bang Theory 1amHappy
Endings 1.30amRevenge
2.20amMy Mad Fat Diary
3.15amAccidentally on Purpose
3.55amHappy Endings
4.15am-6amMade in Chelsea
HISTORY
7pmStorage Wars 7.30pmPawn
Stars 9pmMiracle Rising: South
Africa 11pmStorage Wars
11.30pmPawn Stars 1am
Miracle Rising: South Africa 3am
Ice Road Truckers 4amAmerican
Restoration 5amPawn Stars
5.30am-6amStorage Wars
DISCOVERY
7pmWheeler Dealers 8pmFifth
Gear 9pmDangerous Flights
10pmDual Survival 11pm
Auction Hunters 11.30pm
Auction Kings 12amDangerous
Flights 1amDual Survival 2am
Sons of Guns 3amDangerous
Flights 3.50amDual Survival
4.40amAmerican Chopper:
Senior Versus Junior
5.30am-6amMeerkat Manor
DISCOVERY HOME &
HEALTH
7pmPortland Babies 8pmJon
and Kate Plus 8 9pmChildrens
Hospital of Orange County 10pm
Trauma Unit 11pmI Want to
Hurt My Baby 12amChildrens
Hospital of Orange County 1am
Trauma Unit 2amI Want to Hurt
My Baby 3amJon and Kate Plus
8 4amBaby ER 5am-6amNanny
School
SKY1
8pmArrow9pmA League of
Their Own Unseen 10pm
Spartacus: War of the Damned
11.05pmCop Squad 12.05am
Road Wars 2.05amNight Cops
3.05amArmed and Dangerous:
Ultimate Forces 4am-6am
Stargate SG-1
BBC2 ITV CHANNEL4 CHANNEL5
S
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6pmBBC News
6.30pmBBC London News
7pmThe One Show
7.30pmInside Out; BBC News
8pmEastEnders
8.30pmInside Barclays:
Banking on Bonuses
Panorama
9pmPenguins Spy in the
Huddle
10pmBBC News
10.25pmRegional News 10.35pm
Being Eileen 11.05pmBlandings
11.35pmThe Graham Norton Show
12.20amFILMThirteen Days:
Drama, starring Kevin Costner.
2000. 2.40amWeatherview
2.45am-6amBBC News
6pmEggheads
6.30pmFlog It! Trade Secrets:
New series. Advice on making
money from antiques and
collectibles.
7.30pmGreat British Menu
8pmUniversity Challenge
8.30pmCHOICE Food & Drink
9pmDancing on the Edge
10pmMock the Week Again
10.30pmNewsnight; Weather
11.20pmWonders of Life
12.20amSign Zone: Film 2013
12.50am Sign Zone: Who Do
You Think You Are?
1.50amClose 4am-6amBBC
Learning Zone
6pmITV News London
6.30pmITV News
7pmEmmerdale
7.30pmCoronation Street
8pmCornwall with Caroline
Quentin
8.30pmCoronation Street
9pmCHOICE Lewis
10pmITV News at Ten
10.30pmITV News London
10.35pmThe Agenda
11.05pmMonk
12amJackpot247
3amChampions League Weekly
3.25amThe Jeremy Kyle Show
4.15amNightscreen 5.05am-6am
The Jeremy Kyle Show
6pmThe Simpsons
6.30pmHollyoaks
7pmChannel 4 News
7.55pm4thought.tv
8pmHow Safe Is Your Childs
Nursery?: Channel 4 Dispatches
8.30pmWild Things 9pmMy Big
Fat Gypsy Valentine 10pmCHOICE
Black Mirror 11.05pmRandom
Acts 11.10pmMy Daughter the
Teenage Nudist 12.15amThe
Shooting Gallery 1.10amSupersize
vs Superskinny 2.05amScandal
2.50amMesh: Tourist Trap 2.55am
Get Your House in Order 3.50am
How to Look Good Naked 4.45am
Deal or No Deal 5.40am-6.05am
Baking Mad with Eric Lanlard
6pmHome and Away
6.30pm5 News at 6.30
7pmRory & Will Champions
of the World: 5 News Update
8pmPolice Interceptors; 5
News at 9
9pmBritains Funniest Comedy
Characters
11.55pmFILMThe Plank:
Slapstick comedy, starring Eric
Sykes and Tommy Cooper.
1967.
1amSuperCasino 4amHouse
Doctor 4.20amHouse Doctor
4.45amMichaelas Wild Challenge
5.10amWildlife SOS 5.35am-6am
Wildlife SOS
Fill the grid so that each
block adds up to the total
in the box above or to the
left of it.
You can only use the
digits1-9 and you must not
use the same digit twice in
a block. The same digit may
occur more than once in a
row or column, but it must
be in a separate block.
COFFEE BREAK
Using only the letters in the Wordwheel, you have
ten minutes to nd as many words as possible,
none of which may be plurals, foreign words or
proper nouns. Each word must be of three letters
or more, all must contain the central letter and
letters can only be used once in every word. There
is at least one nine-letter word in the wheel.
Place the numbers from 1 to 9 in each empty cell so that
each row, each column and each 3x3 block contains all the
numbers from 1 to 9 to solve this tricky Sudoku puzzle.
Copyright Puzzle Press Ltd, www.puzzlepress.co.uk
KAKURO
QUICK CROSSWORD
LAST ISSUES
SOLUTIONS
KAKURO
WORDWHEEL
SUDOKU
SUDOKU
QUICK CROSSWORD
WORDWHEEL
1 2 3 4 5 6
7 8
9 10 11
12 13 14 15
16 17 18
19 20
22 13 15
22 11
10 13
8 21
24 19
11 30
23 6
39 7
11 21
14 23
16 11 10
14
14
24
26
28
8
35
9
17
17
34
17
5
20
7
16
14
29
38
12
12
4
ACROSS
1 Pain sometimes
experienced
by divers (5)
4 Category (5)
7 Pear-shaped
fruit (7)
8 Leguminous
plant (3)
9 Espresso cofee
with milk (5)
11 Kitchen range (5)
12 Port and resort
on the west coast
of Florida (5)
14 Group of many
insects (5)
16 Womans garment
(abbr) (3)
17 Onwards,
ahead (7)
19 Motionless (5)
20 Put (pressure)
on (5)
DOWN
1 Noisy altercation (5)
2 Prex meaning recent
or modern (3)
3 Oil-bearing laminated
rock (5)
4 Cuts into pieces (5)
5 Ancient jar usedto
hold oil or wine (7)
6 Person held in
servitude (5)
10 Large hemispherical
percussion
instruments (7)
12 Pipes (5)
13 Dreadful, terrible (5)
14 Brief ing of unrestrained
spending (5)
15 Location of something
surrounded by
other things (5)
18 Unit of surface
area equal to 100
square metres (3)
E
O
G
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C
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4
S P E A K S P I C E
E G C Y V
A C E R A F L A M E
M C E N T O N
A B L E A N N E X
N A L G H
S T E L E B R I E
B R P U R E L
A N N A L S A T O M
N S Y V E
D A T E D P O I N T
2 1 4 9 7 9 1
6 3 9 1 4 3 5 2
2 7 4 5 8 9 6
3 4 1 2 6 8 9
8 6 2 8 9 3 7 6
9 5 3 1
2 4 8 1 3 2 7 1
5 8 8 6 9 4 5
5 4 2 7 3 1 6
2 6 1 3 8 2 9 1
7 9 4 9 5 8 9
4
4
4
4
4
4
4
4
4
The nine-letter word was
HYPERLINK
T
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BBC1 BBC2 ITV1 CHANNEL4 CHANNEL5
MONDAY 11 FEBRUARY 2013
FOOD & DRINK
BBC2, 8.30PM
Michel Roux Jr and Kate Goodman are
joined by The Great British Bake Off
judge Mary Berry, who helps them
create the perfect afternoon tea.
LEWIS
ITV, 9PM
As the killer becomes desperate to
cover their tracks, Lewis and
Hathaway battle to solve the case
and both make life-changing decisions.
BLACK MIRROR
CHANNEL4, 10PM
Charlie Brookers darkly satirical
drama returns with three one-off
films. In the first, a woman keeps in
touch with her dead partner.
TVPICK
MONDAY 11 FEBRUARY 2013
26
SPORT
cityam.com
CITY A.M.S RACING EDITOR BILL ESDAILE WITH ALL THE LASTEST RACING INFORMATION
FOR THE
CHELTENHAM
FESTIVAL.
In association with
JOINING US FROM THE WORLD OF CRICKET
Phil Tufnell - The most loveable bad boy
of English cricket.
JOINING US FROM THE WORLD OF GOLF
Sam Torrance - A member of the European
Ryder Cup team a remarkable 8 times! A golng legend!
For full Terms & Conditions please visit www.mbnpromotions.co.uk
To make a booking or request further information please
email mark.hudson@mbnpromotions.co.uk. Alternatively
drop us a line on +44 (0) 845 543 8277
Thomas Castaignede
Former French rugby union international. Known as Le Petit
Prince with 54 caps for France.
Premier Table of 10 1,800 + VAT
Pre-event complimentary drinks reception, prime positioned
table, 3 course lunch, gift for each guest, half bottle of wine per
guest, quarter page advert in the souvenir programme.
Individual Tickets 155 + VAT
JOINING US FROM THE WORLD OF RUGBY
TO DIGEST THE SIX NATIONS 2013
Josh LewseyMBE - Rugby World Cup
Winner. 55 caps for England and 3 for the British & Irish Lions.
ALSO IN ATTENDANCE
Former England footballer Trevor Steven, former
England & Warwickshire cricketer Andy Lloyd,
Premiership rugby players.
PRICES...
Standard Table of 10 1,400 + VAT
3 course lunch, cash bar, company logo in the souvenir
programme.
PLUS The Girly Show - A collaboration of
Londons hottest and most requested dancers. Deanne Berry is
the lady who stars in the Call on Me video!
Grown Ups Sports Day - There will be
an interactive sporting competition throughout the lunch. Who
can beat our rugby stars with the fastest pass or Sam Torrance at
the longest drive? Let the competition begin!
THE CITY COMES TOGETHER FOR THE ANNUAL LONG LUNCH. LOTS OF FUN, BANTER, DRINKS &
GREAT FOOD, WITH ABSOLUTELY NO STUFFINESS! ALL UNITED BY OUR LOVE OF SPORT! PLUS
TABLES COMPETE IN A HOST OF INTERACTIVE SPORTS IN OUR VERY OWN GROWN UPS SPORTS DAY!
FRIDAY 8TH MARCH 2013
Midday to 5pm, The Brewery, 52 Chiswell Street, London, EC1Y 4SD
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ANCE
VETERAN midfielder Ryan Giggs
continued his sensational record of
scoring in his last 23 league seasons
for Manchester United, after notching
in yesterdays win.
The evergreen winger opened the
scoring at Old Trafford, moving Giggs
closer to adding a 13th Premier
League winners medal to his trophy
cabinet as United moved 12 points
clear at the top of the table.
The goal settled any nerves among
the 75,000-plus crowd after Robin van
Persie had missed a gilt-edged oppor-
tunity to give United ahead.
The Dutchman beat the Everton
offside trap on 10 minutes and raced
past goalkeeper Tim Howard, but saw
his shot cannon back off the post.
Just three minutes later though
39 year-old Giggs turned in Van
Persies pass for his first league goal of
the campaign.
Leon Osman went close to levelling
with a well-struck volley amid a good
spell for Everton midway through
the half.
Evergreen Giggs earns
three points for United
MANCHESTER UNITED................2
EVERTON ...................................0
BY JOSH RICHARDS
PREMIER LEAGUE
ASTON VILLA..............................2
WEST HAM..................................1
BY JULIAN HARRIS
PREMIER LEAGUE
But the home side struck again as
the game moved into first-half stop-
page time when Van Persie rounded
Howard, but this time made no mis-
take with his finish.
A tame second-half was lit up only
by a sensational effort from Tom
Cleverley, which produced an equally
spectacular save from United old boy
Howard.
Man United 26 21 2 3 62 31 65
Man City 26 15 8 3 48 24 53
Chelsea 26 14 7 5 55 28 49
Tottenham 26 14 6 6 44 30 48
Arsenal 26 12 8 6 50 29 44
TOP FIVE
TEAM PLD W D L F A PTS
Results
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IN BRIEF
Nigeria are champions of Africa
FOOTBALL: Nigeria won the Africa
Cup of Nations (ACN) last night, with
a 1-0 victory over Burkina Faso in
Johannesburg, South Africa. A volley
by Sunday Mba shortly before half-
time earned the Super Eagles their
first ACN win since 1994.
Britain progress in the Fed Cup
TENNIS: British stars Laura Robson
and Heather Watson won their ties
against Dia Evtimova and Tsvetana
Pironkova respectively, as Britain
beat Bulgaria in the Fed Cup
yesterday. The team discover on
Wednesday who they will face in a
group two play-off.
WEST Ham manager Sam Allardyce
insisted his team deserved to come
away with all three points from Villa
Park yesterday, despite succumbing
to their ninth Premier League defeat
on the road.
A penalty from Christian Benteke
and a free-kick by Charles NZogbia
earned Aston Villa their first win in
nine league games, although a late
Ashley Westwood own goal resulted
in a nervous final few minutes.
If we didnt have [their] keeper in
such brilliant form again, I think
wed have won, Allardyce said.
Our creative play in the second
half particularly was great,
outstanding, apart from the
ultimate clinical finish.
The Hammers have won only two
of 13 league away games this season,
yet remain 11th in the table.
A 73rd minute penalty saw
Benteke send Jussi Jaaskelainen the
wrong way, and five minutes later
NZogbia doubled Villas lead,
curling a free-kick over the wall.
On 87 minutes Westwood flicked
an inswinging Joe Cole cross into his
own net, but it proved too little, too
late for the east Londoners.
West Ham sink
to ninth away
league defeat
Ryan Giggs scored his first Premier League goal of the season against Everton
SPORT
27
MONDAY 11 FEBRUARY 2013
QBE Insurance (Europe) Limited, QBE Re (Europe) Limited and QBE Underwriting Limited are part of QBE European Operations, a division of the QBE Insurance group. All three companies are authorised and regulated by the Financial Services Authority.
The England rose is an oficial registered trade mark of the Rugby Football Union and is the subject of extensive trade mark registrations worldwide.
Business insurance specialist
Proud to be title sponsor of the QBE Internationals.
Ofcial Insurance Partner of England Rugby.
They mean business.
We mean business.
Whatever your business insurance needs, ask
your broker about QBE or visit QBEeurope.com
O
N a weekend when the Six
Nations threw up yet more
great action and Manchester
City effectively handed the
Premier League title to their good
friends across town, you probably
dont want to read yet another
article about drugs in sport. You are
drugged-up and drugged-out thanks
to Lance Armstrong.
And therein lies the problem.
Because of cyclings most notorious
leper, theres a danger that we all
saw the headlines last week about
the drugs crisis enveloping
Australian sport, and because it
wasnt Britain, and because it was
yet another drugs story, passed by
on the other side. No Samaritans
we, when it comes to salvaging the
reputation of sport Down Under.
Make no mistake, this is serious
stuff. According to the Australian
Crime Commission, organised
crime syndicates have been involved
in systematic doping programmes
across a variety of sports. Doubtless
for legal reasons although it also
smacks of a degree of cowardice
the commission has refused to
name clubs and individuals
concerned, but very clearly
implicated are Australian rules
football and rugby league. The cloak
of suspicion hangs over an entire
industry, prompting Prime Minister
Julia Gillard to demand that all
sports come clean about their
clearly very dirty secrets. Many are
describing the revelations as the
blackest of all days in Aussie sport.
Half a world away, we probably sit
back rather smugly and say if its a
systematic programme, its not a
very good one, because Aussie sport
is going down the tubes, Bruce.
But weve had a couple of low
level cases ourselves recently, one in
athletics and one in rugby league.
Not anything to get too excited
about, but proof there are still, and
always will be, people out there
trying to gain an unfair advantage.
It is hard to remember the last
time major sporting authorities in
this country announced their
doping procedures and results, but
shouldnt events in Australia
prompt them to do so? Ive even
received misguided correspondence
questioning whether the
phenomenal defensive efforts of Six
Nations teams is down to just hard
work and collective will. While the
Aussie sports fan reels from the ACC
revelations, we need to reassure an
increasingly jaundiced sporting
public that what they are seeing
with their own eyes is for real.
Governing bodies should stand
up and be counted and tell us what
they are doing to combat the
problem. And the rest of us must
never get tired of reading about
drugs stories, because the moment
we do, the bad guys have won.
John Inverdales column is brought to
you by QBE, the business insurance
specialist. QBE is an Official Partner of
England Rugby and Premiership Rugby.
For more information, please visit
www.qberugby.com.
SPORT
COMMENT
JOHN INVERDALE
In association with
Bad guys win the moment we tire of doping scandals
Farrell kicked two penalties in each half to maintain Englands 100 per cent record
SCOTT Johnson is determined to
build on his maiden win as
Scotland interim head coach when
Ireland visit Murrayfield in two
weeks time.
Johnson who took charge in
December saw his side beat Italy
34-10 on Saturday with tries from
Stuart Hogg, Matt Scott, Sean
Lamont and Tim Visser and wants a
repeat performance next time out.
The ability to put Italy away was
pleasing, he said. But it amounts
to nothing unless we come here
against Ireland and do it again.
Johnson wants
Ireland repeat
BY JOSH RICHARDS
INTERIM head coach Rob Howley
believes Wales can look forward to
their rugby once again after a 16-6
win over France on Saturday ended
their eight-game losing streak.
Since winning the 2012 Grand
Slam Wales had suffered a series of
narrow defeats, but they were back
to their best in Paris.
Good sides dont become bad
overnight, Howley said. The self-
belief and confidence we have tried
to keep going was very evident.
Howley happy
to end hoodoo
BY SPORTS DESK STAFF
ICE-COOL fly-half Owen Farrell
played down the pressure of kicking
England to victory in the cauldron of
Dublins Aviva Stadium yesterday
after his penalties cemented their
RBS Six Nations favourites status.
The 21-year-old landed two kicks in
each half as England overcame ener-
gy-sapping conditions and a fiercely
competitive Ireland side to make it
two wins from two.
If you practise enough it is only
another kick and its no different in
the stadium, said Farrell. The con-
ditions werent great but we rolled
our sleeves up and got stuck in.
Englands gritty triumph was in
stark contrast to last weekends styl-
ish demolition of Scotland but every
Unfazed Farrell
kicks England
to gritty victory
bit as welcome, coming 10 years since
their last victory in Dublin, and
leaves them top of the table.
Farrell slotted the visitors in front
after just three minutes and added
another penalty on the half-hour,
while Irish hopes were hit by injuries
to Simon Zebo and Jonathan Sexton.
Both sides were fortunate to avoid
yellow cards, Ireland No8 Cian Healy
for a stamp on Dan Cole that sparked
a skirmish, and Farrell for dragging
back scrum-half Conor Murray.
The hosts were handed a lifeline
four minutes after the break, when
England were penalised for collaps-
ing the scrum and Ronan OGara
despatched the penalty.
England then lost flanker James
Haskell to the sin-bin, and OGara
took advantage to kick Ireland level.
Manu Tuilagi went closest to a try
when an unkind bounce from Ben
Youngss chip saw the ball evade his
grasp, but a penalty, which Farrell
converted, proved adequate consola-
tion and another successful kick
from the youngster sealed the win.
IRELAND....................................6
ENGLAND .................................12
BY FRANK DALLERES
SIX NATIONS
MONDAY 11 FEBRUARY 2013
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25TH MAY
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MANCHESTER United boss Sir Alex
Ferguson believes a record-
breaking 20th Premiership
crown is on its way to Old
Trafford after yesterdays 2-0
win over Everton moved his
side 12 points clear at the
top with 12 games to go.
Goals from Ryan Giggs
and Robin van Persie
ensured United capi-
talised on Manchester
Citys shock 3-1 defeat at
Southampton on
Sir Alex senses
title is en route
to Old Trafford
BY JOSH RICHARDS Saturday. And while the United
manager refuses to write off
second-placed Citys title tilt he
believes the silverware is now
within his sides sights.
The result has put us in
a fantastic position,
Ferguson said.
When we got to the
last 15 minutes we
showed a steely determina-
tion to see it out. All we can do
now is keep winning.
Robin van Persie scored his 23rd goal
of the season against Everton Englands Chris Ashton (left) and Dylan Hartley celebrate the 12-6 victory in Dublin
ENGLAND head coach Stuart
Lancaster set his sights on a
massive next RBS Six Nations
fixture against France after his side
ground out their first win in Dublin
for 10 years.
Two penalties in each half from
fly-half Owen Farrell earned England
a hard-fought 12-6 victory that,
following an eventful second
weekend, leaves them the only team
with Grand Slam hopes intact.
France, who followed defeat in
Italy with another loss to Wales on
Saturday, are next to test Englands
credentials at Twickenham on 23
February, and Lancaster is expecting
a titanic clash.
He said: The stakes have always
been high but theyre even higher
with France coming off a defeat. It
will be massive.
England end
10-year wait
for Dublin win
BY FRANK DALLERES
28
SPORT
cityam.com/sport
We must never tire of
reading about drugs stories,
because the moment we do,
the bad guys have won
@cityam_sport
MATCH REPORT: Page 27
John Inverdale: Page 27