The City was lost for words when the Treasury poached Canadian Mark Carney to run the Bank of England and Canada’s central bank has now made it clear it has no plans to return the compliment by headhunting a Brit to replace him.
Says the Ottawa office of headhunter Odgers Berndtson of the ideal candidate for the next Bank of Canada governor: “A Canadian citizen, you have the demonstrated ability to exercise sound judgment in a highly complex environment.”
Interesting that the Canadian central bank is limiting the pool of candidates to keep Canada’s economy in check to its own citizens, despite the country’s membership of the G8, the G20, the Bank for International Settlements and other globally-minded institutions.
Perhaps Canadian prime minister Stephen Harper looked across the pond to the land of Libor-rigging and PPI mis-selling and decided that — thank you very much, bankers of Britain — it is better the devil you know.
Formula One billionaire Bernie Ecclestone has clearly passed on his unrepentant attitude to his daughter Petra (SES: E1:P34.SI - news) . As the motor racing tycoon said he would find testifying about allegedly bribing a German banker $44m (£27.3m) “amusing”, 24-year-old Petra has issued her own two fingers to the family’s critics. “If I want something like a pink Rolls-Royce, then I’ll go out and get it,” Petra declared in a joint magazine interview with sister Tamara. “At the end of the day, I don’t really care what anyone thinks.”
= Sheikh’s curtain call =
Rumours reached Diary earlier this month that Charles Philipps, the boss of Lloyd’s of London insurer Amlin (LSE: AML.L - news) , had been given a five-year extension to live at his Suffolk pile Dalham Hall.
In an unusual arrangement, Dubai’s ruler Sheikh Mohammed Al Maktoum bought the estate for £45m in 2009 attracted by its proximity to his Dalham Hall stud near Newmarket but allowed Philipps to continue to live there for five years.
Amlin’s spinners robustly denied any extension to the contract with the horse racing tycoon, and now Diary sees why.
The Sheikh was close to settling his litigation with Commerzbank (Xetra: 803200 - news) , RBS (LSE: RBS.L - news) , Standard Bank and Commercial International Bank Egypt SEA over a $6bn (£3.7bn) debt restructuring, as announced on Friday, meaning his ownership of the property is back on firmer foundations.
Time for the Sheikh to measure up the curtains?
= Lords' media connections =
The Lords were not backwards about coming forwards with their conflicts of interests as they debated the Leveson Report.
Lord Inglewood is the non-executive chairman of the Cumbrian local newspaper company CN Group, while Lord Lester of Herne Hill, the distinguished QC, has represented Rupert Murdoch’s Times and Sunday Times newspapers twice.
Lord Donoughue, meanwhile, was once assistant editor of The Times — until the News Corp (NasdaqGS: NWS - news) boss dismissed him. “I was sacked by [Murdoch], an experience of which I am unequivocally proud,” he told the upper chamber. “I was also sacked by [the late Mirror Group boss] Robert Maxwell,” he added, “but I shall not go into that here”.
Suffice to say, according to Lord Donoughue, that “all power corrupts”. “And excessive media power corrupts excessively.”
Investors struggling to beat the markets in 2013, look no further. Citigroup’s Adrian Cattley has devised a winning formula: he suggests that “investors mainly focus on the letter ‘r’ this year”. That’s re-rating, risk appetite, re-financing, restructuring, returns, regulation and — Cattley is possibly struggling here — raging bull. Just one proviso, says Citi’s Mystic Meg: “This advice does not extend to stock selection, where we recommend a broader use of the alphabet.” Thank heavens for that, Adrian, otherwise we might have had to fall back on that other well-known “r”: rate-rigging.
= Branson’s jet lag tip =
Diary is sure that the similarities between Sir Richard Branson’s top five travel tips and Pippa Middleton’s Celebrate , the party-planning masterpiece much-mocked for stating the obvious, were intended in ironic fashion. So for the many readers minded to give Sir Richard the benefit of the doubt, here follow some of his most insightful thoughts.
The best way to cope with jet lag is “to simply live in the moment”, says Sir Richard, as falling asleep on a plane is “easier when you have cleared your mind of any pressing concerns”, and alternating alcoholic beverages with glasses of water will “help you to reach your destination with a clearer head”. Give that man a £400,000 book deal.