Viewings at Canary Wharf double

Economic recovery has led to a doubling of viewings of vacant space at London’s Canary Wharf complex by prospective tenants in the first half of this year compared with the previous six months, according to its landlord Songbird Estates, the UK-listed property company.

Leasing proposals have been made to 24 companies in the three months to June. Seven comprised inquiries for more than 100,000 sq ft, six for 30,000-100,000 sq ft and 11 for less than 30,000 sq ft.

Wells Fargo European DCM head leaves role

Bryant Owens, head of European debt capital markets and syndicate for the Emea region at US bank Wells Fargo, is leaving the bank’s London office after nine years to return to his native Charlotte, North Carolina

Owens will continue to work for the bank, where he will have responsibility for expanding coverage of depository institutions in the financial institutions group of the bank’s investment banking and capital markets division.

Wharrier back to BlackRock

UK equity manager Mark Wharrier has quit Stephen Zimmerman’s NewSmith Capital Partners to return to his old stamping ground.

He left Merrill Lynch Investment Partners nine years ago to work with his former MLIM colleague Steve Thompson, leader of NewSmith’s UK equity team, and associate Richard Milliken.
The team played a key role in driving NewSmith’s growth and currently manages £1 billion. Sumitomo Trust and Banking of Japan purchased a 40% stake in New Smith in 2011.

Top rates strategist swaps Morgan Stanley for BNP Paribas

Morgan Stanley global head of rates strategy, Laurence Mutkin, has left the investment bank to join BNP Paribas, Financial News has learnt.

Mutkin left the bank on July 4, according to the UK's Financial Services Register. He was a frequent commentator in the press for Morgan Stanley and spent seven years at the firm. He is set to join BNP Paribas, according to a person familiar with the situation, however his role at the French bank is unknown.

Absolute return duo departs RWC

Absolute return duo departs RWC

 Peter Allwright and Stuart Frost, portfolio managers hired by RWC Partners in 2010 to bolster its absolute return business, have left.

 Both joined the boutique from rival Threadneedle and worked in rates and currencies, managing the RWC Cautious Absolute Rate & Currency fund. They left in March, an RWC spokesman said.
Allwright has joined Nomura, according to the UK’s Financial Services Register, returning to a bank where he previously worked as a proprietary trader. A spokeswoman for Nomura declined to comment.

3i shares hit four-year high

3i shares hit four-year high

3i Group’s shares closed at a four-year high on Wednesday as investors continue to buy into the company’s turnaround plan. The rise came on the same day that Europe's main listed private equity index reached to its highest level since 2007.

Shares in 3i closed the day at 370.9p, their highest level since 2009 at the peak of the credit crisis.

Some analysts pinned the recent gains in 3i’s share price on hopes next week’s first-quarter results will be better than the market expects. The company is also holding its Annual General Meeting on July 18.

The strong performance of 3i’s share has buoyed the listed private sector to a near six-year high.

Stock-picking hedge funds stand out in June

Stock-picking hedge funds stand out in June

Prominent hedge fund managers, whose business is picking the best and worst stocks to invest in, posted gains in June amid the sell-off in global markets.

Blue-chip managers Lansdowne Partners, Egerton Capital, Odey Asset Management, Chilton Investment Company and Horseman Capital Management were among the stock-pickers that made money last month, with many of them profiting from positions in their short book.

A partner at one of the 10 biggest hedge funds in London said: “Managers who are focusing on stock selection seem to be doing pretty well. You’re starting to get good dispersion between stocks.