Weekly Wrap Up: Brexit you got to let me know

Brexit. This spurious word has been on the tip of the entire nation’s tongue for what seems like an eternity. The question of whether Britain should remain in the European Union or not is a pertinent one and is no doubt sparking much debate throughout households around the country. Over the last few weeks, we have watched David Cameron’s attempt to re-negotiate the terms of Britain’s membership in the EU in an attempt to appease the nation and subvert the increasing support for Brexit. The conclusion of all the campaigning and the ultimate result will be realised in just over three months’ time when the British public will vote on whether to remain in the European Union or not. Perhaps though, in the meantime there are lessons in crisis communications and reputation management that can be learnt from the current state of affairs. From a communications perspective the debate and the two possible outcomes can be compared to a crisis situation for a large conglomerate. Comparisons can be drawn from the scandals facing Volkswagen or TalkTalk and in the even more recent past Uber. What these crises and Brexit have in common is that the consequences remain unknown both in terms of the ultimate outcome and the fate of those involved. The politicians and the company executive’s fates will be/are determined by their actions. In other words, the stakes are high for all parties involved.

The Brexit crisis has come to a head over the last few weeks as key politicians in Cameron’s cabinet have pledged allegiance to the ‘In’ and ‘Out’ campaigns, ultimately revealing whether or not they stand behind him. So, who are the key players and how are they faring in the crisis so far?

First, we turn to the Prime Minister, David Cameron. Arguably, he is at the centre of the crisis and perhaps in the most interesting position in terms of what he can achieve but nevertheless he has the most to lose if the vote does not go in his favour. David Cameron has been furiously re-negotiating the terms of the UK’s membership to the EU in an effort to improve the UK’s position as well as encourage the public to vote no to Brexit. What has he actually achieved though? And how is he handling himself?

According to BBC News, in terms of Britain’s sovereignty, Cameron has secured a commitment to exempt Britain from a closer union with the EU as well as negotiating a new “red-card” power, meaning if 55% of national parliaments agree, they can veto a commission proposal. It remains to be seen whether such a power would ever be used and whether the government could ever mobilise that kind of multi-national support. On the other hand, in terms of migration and benefits, Cameron had to concede one of his most crucial points. He failed in his original demand to ban migrant workers from sending child benefit money home in the face of strong opposition from Poland. According to the Mail Online, voters consider this a major failure in Cameron’s negotiations. An opinion poll concluded that 62% think net migration to the UK from the EU is too high and Cameron’s failure arguably means that migrants will not be discouraged. From a crisis communications perspective this is a major loss for Cameron. In this debate public opinion is everything and given the migrant crisis, migration issues are at the forefront of voters’ minds. The concession that Cameron made will undoubtedly encourage some people into the Brexit camp.

On the other side of the debate are those that believe the negative aspects of being a part of the EU far outweigh the positives. Michael Gove’s allegiance to the Out camp was not wholly unexpected due to persistent rumours of his position. On the other hand Boris Johnson’s is seen as a demagogue but has been generally well received. He has positioned himself as deeply pro-European and does not believe it is necessary to equate voting out with being anti-Europe. In the Telegraph, he detailed his views on the subject concluding that he will vote no but that ultimately, his opinion and those of his peers will be forgotten. In reputation terms, perhaps it is Gove who has taken a bigger risk. Not only has Gove allied himself with the exit campaign, but he has also explicitly criticised Cameron’s concessions. The Independent reported Gove stating that the EU agreement is not legally binding and as such the concessions agreed by Cameron could well be meaningless. In terms of Gove’s reputation, it is difficult to fully understand the ramifications of his decision to so publically undermine the Prime Minister. It can be argued that in the political sphere these sorts of tactics are necessary to get ahead. However, they can also have a negative impact on public perception and significantly affect reputation.

Ultimately, the crisis is not yet resolved. The debate has descended into political infighting and scaremongering, resulting in a lack of clarity around the issues at hand. The ramifications for the UK of remaining in the EU or choosing to leave cannot be predicted. However, it seems that, if the vote is to be a true representation of public opinion, politicians need to devote more effort to discussion of the two sides of the argument rather than simply resorting to political infighting or attacking the opposition. It remains to be seen whether Cameron, Johnson or Gove have damaged their reputations or whether they, in fact, will benefit from their respective stances. Arguably, they are all staking their careers on their positions. Nevertheless, the power to resolve this crisis remains in the hands of the people, who, in the eternal words of The Clash will be thinking on the 23rd, “Should I stay or should I go?”




Abchaps hosted two market lunch events this week, where guests were given the opportunity to discuss topics specific to the oil and gas sector and the environment in addition to a more generalist discussion on the budget broadcast Wednesday lunchtime. Abchaps also attended a Gorkana breakfast where Daniel Coatsworth editor of Shares magazine spoke about the publication’s aim to ‘empower the investor’



This week, Investec Investment Banking appointed Serge Rissi as a Director in its financial sponsor transaction group. Eversheds appointed Ian Gray as its international managing partner based in the Middle East. Howard Kennedy appointed Philip Vickery as senior associate of its business and property tax team.



Brexit – Britain’s exit from the EU



Potter down to Albion Street in Rotherhithe on Saturday for a taste of all things Nordic. The pedestrianised stretch between London’s Finnish and Norwegian churches will be lined with dozens of stalls selling Scandi snacks, crafts, homewares, jewellery and toys.

Like looking like a wally? Burn off those Saturday booze calories with the annual Where’s Wally Fun Run. Walk, jog or run the 5km or 10km course which in 2016 relocates to Clapham Common. The £22 registration fee includes your 'Where's Wally?' costume and a medal on completion and all funds raised will go to the National Literacy Trust, who will use it to help disadvantaged children learn to read and write.

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Weekly Wrap Up: Christmas has begun

Over the last week the UK has seen the official start to Christmas; John Lewis told us so.

John Lewis started this off in 2009, seeing Coca-Cola’s Santa and raising him, in no particular order, a penguin, some snowmen, and unlikely friendships between woodland creatures. Ever since, companies have rushed to get in on the act, pushing ever greater briefs, backed by ever larger budgets. All in the attempt to attract shoppers through their doors. But is this money well spent? Or have these adverts become so removed from what advertising traditionally stands for that they could potentially damage the high street they’re meant to save?

Simply put, the cost of these adverts is enough to make any company's CFO turn ashen faced. With a budget of £7 million, John Lewis tops the charts, and the sheer scale of Sainsbury’s WW1 extravaganza means it can’t be far behind. But one thing was conspicuously missing from both adverts, and that’s a product.

Whilst you may now be able to buy a Monty penguin for the sum of £95, and Sainsbury’s will sell you vintage chocolate for £1, neither make product a focal point during their two or three minutes of air time. Having been placed in the most expensive slots on British TV, the question has to be asked, ‘is this good advertising?’

On the surface, the answer surely is yes. In terms of outreach, these adverts achieve circulation that could never have been expected even a few years ago. In less than 24 hours, Sainsbury’s saw online viewing figures of nearly one million, whilst being shared on Facebook nearly 42,000 times. This pales into insignificance when compared to John Lewis, who in just a week garnered viewing figures of a scarcely believable 13.5 million, with Facebook shares of 154,000.

With not a single product advertised, the effect these adverts have on sales is incredible. John Lewis announced this week that its like for like sales for the first week of November were up 6%.  The retailer has a proud history of defying the credit crunch, posting positive festive figures every year since 2009.

Whilst these lavishly funded, sentimental adverts may be achievable for large companies with large budgets, smaller companies are having to get more creative. The irony of these messages is that whilst they may cost millions of pounds to produce, their greatest success comes from an (almost) completely free source, social media. Every retweet, share, view, comes at no cost to the retailer. Whilst their slots on television may cost the company, their online presence does not. Therefore, this is how smaller companies can succeed.

Ironically, while online shopping has for a long time been described as the end of the high street, online advertising may be what saves it. One of the greatest adverts to come out of last year’s Super Bowl was not the blockbuster Budweiser advert, but a tweet sent by Oreo. Quick thinking led to a simple quip being shared round the world over 20,000 times, garnered 525 million media impressions, even making Adweek’s top five ‘ads’ of the night. From this, the answer appears simple, use digital, save physical.



This week, Abchaps had a brilliant evening at the Nabarro London Wall launch. The evening kicked of with a fantastic cooking demonstration from Michelin Chef Michel Roux Jnr, along with magical entertainment.



Eversheds  appointed Cathryn Vanderspar, formally of Berwin Leighton Paisner, head of their London tax tea, whilst Mark Brown joined Westhouse Securities as executive chairman. Brown was previously chief executive of Collins Stewart Hawkpoint. Meanwhile, Pinsent Masons announced the appointment of Meriam Alrashid as an international arbitration partner in its global construction practice in London. A fluent Arabic speaker, she joins from Crowell & Moring. Finally, Walker Crips appointed Matt Ennion as Investment Director. He joins from Towry.



"Evangelism Marketing" - a form of word-of-mouth marketing (WOMM), in which companies established a loyal group of customers with strong belief in their products. These customers willingly and actively convince others to buy their products.



Enjoy some ice-skating in the beautiful splendour of Somerset House’s neoclassical courtyard. Then rest those sore legs (and bums) in the Skate Lounge for a well-deserved après-skate, where you can indulge in a cocktail, fondue or tasty treat (or all three)!

If you’re looking for something different, head along to the Hyper Japan Christmas Market at Olympia open this weekend only where you can immerse yourself in Japanese culture and find some interesting Christmas gifts for family and friends. Also at Olympia this weekend is the BBC Good Food Show which promises to be delicious!

The highly anticipated Regent Street Christmas lights switch-on will be taking place on Sunday. It's an evening of Christmas tunes, celebrity talent and fireworks. A London tradition since 1948, when the Regent Street Association first decorated the street with Christmas trees, the lacing of the street with lights marks the official countdown to Christmas day. The show will begin at 4pm with the switch on moment taking place at approximately 4.45pm.

And finally, for all those rugby enthusiasts, the Autumn Internationals continue on Saturday with the headline game, England vs South Africa kicking off at 2.30pm and Wales taking on Fiji at the same time. Scotland face the almighty New Zealand at 5.30pm and finally, Ireland play Georgia on Sunday at 2.30pm.

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Weekly Wrap Up: The Communications of Switching

This week saw a new figure hit the headlines: 1.2 million people have switched their current accounts since September 2013.

This comes one year on from the launch of the Government’s scheme to encourage consumers to switch their banking current accounts by reducing the time that it takes to switch bank accounts from 30 days to just seven.

As detailed in the Payment Council’s annual report, switching levels are up 22% on last year, with some banks winning new customers - Halifax, Santander and Nationwide - and some, inevitably, losing customers - NatWest, Barclays, HSBC and Lloyds.

This rise in consumer switching has been hailed as a success story of a scheme that is going to plan, or so according to George Osborne.

There are many benefits that have been discussed as rising from the growth of consumers switching their current accounts:
1) Accountability: The Daily Mail has suggested that this switching is the public’s way of “punishing” the banks for the mistakes of pre and post-2008
2) Competitive rates: In order to woo potential new customers and to retain existing customers, banks are now offering more customers more competitive rates and incentives
 3) Entrepreneurialism: With increased switching comes the opportunity for new companies to appear and succeed. This has been seen in the banking industry with so-called “challenger banks”, and is also being seen in the energy industry with the growth of alternative energy providers

So to what can we attribute this switching?

The most obvious answer is the governmental support that this scheme has received; a call to action from the powers that be which made headlines by suggesting that consumers deserve better.

But we in the communications industry would like to suggest that another big reason as to why the scheme was so well received is the act of communicating itself, both online and in the press. Whereas previously it was more likely that “a man would divorce his wife than switch his bank account”, due to the fact that it was unheard of and very difficult to switch, this scheme has not only made it easier but also more common for bank customers to question the product that they have been receiving and to look around at other options.

Whilst some have said that this 1.2 million is a modest figure, the BBC reported that 69% of consumers are now aware that they have the ability to switch due to the launch of the scheme.

This scheme has come at a time when consumer understanding and empowerment is of utmost importance. Whether that be regarding current accounts, energy bills or phone tariffs, consumers are now being given the necessary information and comparison tools to take more control over their own finances and help them live their lives more efficiently. Consumer price comparison websites such as moneysavingexpert.com have become hugely popular in recent years for just this reason, as have debates about preferred providers on social media.

The communications industry sits at the heart of this new information era, with information about new schemes and alternative providers being disseminated through national, trade and technical press, as well as through websites and social media. Companies seeking to ensure that their voice is still heard and that their commercial and financial case is still shared must therefore be keen and willing to engage with communications so as to ensure that they are not on the losing side of the market. Companies must also learn to listen and respond to the comments of their customers or face losing them to competitors.

In years gone by, customer switching and the need for communication were not in the mind of the corporate. Today, however, customers are on the lookout and companies must fight (and shout) to keep them…



The cold may be setting in but Abchaps are still out and about! We met up with some of our favourite journalists at Bloomberg and Dow Jones this week to get their take on the somewhat ‘choppy’ markets. We also caught up with the team at Daniel Stewart over a few glasses at our favourite local. We work very closely with a number of their team, and so it was fantastic so get everyone together again.



Investec has hired Christian Hess to head its financial sponsor transaction group. Christian was previously a partner at Compass Partners and the founder of Hess & Co International. Warren Mead has been appointed the head of challenger banking and alternative finance at KPMG, where he worked for 15 years. Robin Baillie has joined law firm Squire Patton Boggs as a global projects and real estate partner. Robin was previously a partner at Nabarro.



"Uswitch": an energy price comparison website helping consumers find the best energy deals on the market. Websites such as these heavily drive consumer switching

Frieze London, the contemporary art fair, is taking place in Regents Park.  Frieze is expected to draw in the world’s rich and famous and it is anticipated that they will spend millions on different works. The art fair has gained enormous popularity of recent years but the organisers have capped admission to 70,000 over the course of the event as it is unable to expand. The nearby illustrious and plush streets of Marylebone and Mayfair are expected be net gainers of the elite who will pile into its restaurants, cafes and hotels. 

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Weekly Wrap Up: The Uber Battle of Trafalgar

For a City famed for constantly being on the go, London was forcefully made to “go slow” this week as nearly 5,000 London cab drivers drew their vehicles to a halt in Trafalgar Square.

The protesters were speaking out against new smart phone app Uber, which allows Londoners to flag the nearest cab available using Geo-tagging, as well as estimate how much their fare will cost.

Whilst the former aspect of the app may be good for cabbies – the method reduces their dependency on commission charging taxi operators. The protesters were complaining that the fare estimation tool forces them to sell their services for less. Their basis for complaint was that, by law, fare calculating devices known as “taximeters” are only allowed to be calculated by black cabs, and that the Uber app could constitute a taximeter by pre-calculating a cab fare.

Unfortunately, the protest didn't have the desired effect of tarring the app’s reputation; Thursday’s papers were filled with stories of how the operators of Uber app had seen an 850% jump in registrations on the day of the protest due to the number of Londoners who discovered the app through the protest. Indeed one Tory minister, Matt Hancock, tweeted that he had never heard about the #Uber app, but that he thought it was “awesome”. The EU digital affairs commissioner Neelie Kros became the app’s champion by lauding the its innovation and the industry of disruptive technology.

This 850% spike was a rather predictable result. Within reason, all PR is good PR, and Uber simply couldn’t have paid for the paper (and even broadcast) space that the protest’s coverage gave them. One might even go so far as to suggest that this whole protest was orchestrated by Uber with the intention of raising their profile internationally and nationally.

Let us go one step further. Beyond the increase in registrations, what long-term impact could the cabbies’ strike have on the world of disruptive apps such as Uber?

Whilst the British population was busy marvelling at the effect of the protest and downloading the offending app, America (homeland of San Francisco based Uber) was allowing the spiders of cynicism to creep onto the internet waves. At 3pm on Thursday afternoon Ellen Huet of Forbes magazine reported that The California Public Utilities Commission has warned apps like Uber in a stern letter that they are no longer allowed to take riders to or from any Californian airport.

This story serves as a reminder that the eye of regulation is upon disruptive technologies such as these, and as such they could face barriers to their development in the future.

The protest may have been beneficial to Uber in the short-term, but the publicity that the protest achieved has now raised the question as to how far apps and disruptive technologies should be able to interfere with other services, and whether regulation should be stepping in to control this interference.

As we have seen from the markets in recent months, the growth of digital technologies such as Twitter and Uber is incredibly dependent on ever increasing user-ship; Twitter’s share price has been falling amid fears of slowing user growth. If regulation does prove to threaten the future take-up of apps such as Uber, it could be hugely damaging for the future reputation of these apps by “potentially thinning profits and making it hard for Uber to justify its valuation” (CBSnews.com).

This week’s protest raised an issue that went beyond the confines of London’s famous black cabs. Although this year’s 'Battle of Trafalgar' may have been won by the defender, in time it may prove to simply be the start of a greater war against technology.



Abchaps have been out and about on an international scale this week, attending the LSE Greater China Forum in Hong Kong, taking the opportunity to catch up with our clients and advisers who operate out there. Abchaps also caught up with London’s top advisers at the LSE Summer Adviser Drinks, wonderfully hosted across the road on Threadneedle Street. Ever with the media in mind, we got the low down from Richard Fletcher, Business Editor at The Times, at the CIPR lunch briefing this week too.

As always, two of the famous Abchurch Market Lunches saw an interesting array of guests sit down to discuss market trends and opportunities; thank you to our guests for your insightful contributions!



This week Michael Hafner has been appointed head of oil and gas, Europe, Middle East and Africa (EMEA) at UBS. He joins from Deutsche Bank. David Bettesworth, previously of Deloitte, was appointed head of insurance and investment management advisory at PwC in London. Also, Vicki Harris has joined Aldermore from Octopus Investments as group strategy and marketing director.



“Black PR” – The process of destroying the target’s reputation and / or corporate identity.



Make the most of the sun this weekend. The More London Free Festival is in its 12th year and intends to celebrate! There is a 4-day street party which will see 5 different cultures show us the best of their food and fun on the South Bank- give it a try!

If you are a footie fan then you can catch the games at most London pubs, but we’ve heard about a few hidden gems. If you are central, head to Anthologist and if you want to enjoy the sun whilst keeping up to date with the Brazilian antics, then head to The Round House near Charring Cross Tube. Come on England!

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Weekly Wrap Up: FCA rules on Crowdfunding

This week The Financial Conduct Authority did a lot to help consumers. This was, however, at the expense of businesses. In short, it set out new rules on payday lenders that would shut-down about half of the industry. Similarly, it has imposed rules on the nascent crowdfunding industry that could severely hinder its growth.

The concept of crowdfunding - by Rocio Lara

The FCA has always had a tough balance to strike when dealing with alternative funding; on one hand it has to encourage the industry to grow in order to open up an important access route to capital for SMEs struggling to obtain credit. At the same time it has to ensure that it is adequately protecting investors from risky start-ups. The result of this balancing act is that whilst the FCA seems to have struck a fair deal for peer-to-peer lenders (whose business models work around debt based finance), its equity-based finance counterparts in the crowdfunding sector have been hit punitively. These news rules may stop this form of finance in its tracks.

Under the new rules, equity-based crowdfunding will be subject to the “10 per cent” rule whereby investors must certify that they are not committing more than 10% of their net investible assets, excluding their home, pensions and life insurance. This rule will only be waived for those deemed to be “sophisticated investors”, and will not apply to peer-to-peer loans. This arbitrary limit on the amount of money that an individual can invest into crowdfunding ventures will, therefore, inevitability exclude small investors.

It would be a great shame for the crowdfunding industry, a great source of innovation that has opened up a new pool of capital to small businesses, to be quashed at such an early stage in its development. SMEs are driving the British economy and, therefore, the recovery of it. With lending levels by Banks at historic lows, putting these draconian rules in place will only reverse some of the great progress that has been made to kick-start lending and the economy.



This week, Abchaps attended the Global Mining Finance Spring Conference at the London Chamber of Commerce and Industry, which brought together miners and financiers looking at the most favourable regions for mining, as well as the hottest commodities for investments.

Who can resist a fun quiz? Abchaps enjoyed Farrer & Co's fab Quiz Evening, as well as hosting an environmental-themed market lunch. In view of the need to have effective Non-Executive Directors to support the reputation of a company, we attended the Peel Hunt NED Awards - a great opportunity to recognise the contribution that London’s NEDs make to the City.


To end the week on a high, we will be sipping cocktails tonight at the Association of Chinese Financial Professionals’ UK networking drinks.



This week saw Brewin Dolphin appoint Guy Foster as Head of Research having made a considerable impact at the firm over the last eight years. Panmure Gordon also appointed a new Head of Equity Research, Jeremy Grime. Over at Field Fisher Waterhouse Owen Talfan Davies joined as a Real Estate litigation partner. Charles Stanley Group also announced that Anthony Scott will take on the role as Head of Investment Management.



“Crowdfunding”: the collection of finance to sustain an initiative from a large pool of backers. Companies who have recently turned to crowdfunding to source capital have also used the opportunity to market the business as well as fund it; Naked Wines is one such example.



In the mood for some contemporary art? Sunday 6th April is the last day of the Institute of Contemporary Arts’ display of Richard Hamilton’s famous ‘Man, Machine and Motion’ and ‘An Exhibit’ exhibitions. Composed of thirty steel frames and installed photographs, this re-showing of his mid-1950s work will certainly distract even the busiest of minds.

Another event not to be missed, and which is fast on its way out, is the London Coffee Festival, being held at 15 Hanbury Street until 6th April. This is the UK’s largest coffee and artisan food event, celebrating London’s vibrant culture and love of this favourite type of “brain fuel”. Tickets for this event can be bought for different sessions; bunch, lunch or tea-time.

Finally, an event for the contemporary Londoner: The Ceramic Art London show being held at the Royal College of Arts. This show will display the work of over 75 ceramic artists, with collections up for sale as well as for display. This three-day event, which ends on 6th April, includes talks, discussion and demonstrations.

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Weekly Wrap Up: A Flow of Israeli IPOs

Is London well positioned to capture the next wave of Israeli tech IPOs?

There has been hype and a buzz in the City this week about the number of Israeli tech companies that are currently eyeing a listing in London. Companies include digital advertising company Matomy who now has ten global offices in Israel, Spain, Germany, Mexico, San Francisco and New York and employs 400 people. The Company is looking to raise £60m which will value it at between £200 and £300m. Another is digital advertising Company, Marimedia.

Israel, dubbed the 'start up nation', is the second largest source of innovation after Silicon Valley and is the third largest source of listings on New York’s NASDAQ. Global tech companies, Apple, Google, Intel and HP have been building up their research and development operations in Israel, making the country a major tech hub in its own right. Its leading tech companies have engineered cutting edge medical technology such as Given Imaging, a producer of swallowable camera pills.

Inspiring Innovation
Source: Oliver Thompson - Flickr CC

News of foreign tech companies, particularly from this innovative market, choosing to come to London to list is welcome news; London must do all it can to attract these companies. For too long London has failed to do so due to the lack of fund managers and analysts focusing on tech. Many argue that London’s capital markets are too immature in this respect when compared to NASDAQ or even NYSE, and until London sees a consistent number of tech companies floating successfully on the London Stock Exchange (LSE) then investors will continue to go to the US to tap into its attractive infrastructure, analysts and flourishing IPO market. Was it presumptuous of Joanna Shields, Tech City Chief, to claim in October 2013 that London had reached parity with New York when one of the most exciting companies and gaming giant, King chose to float in New York last year?

Nonetheless, London has been making positive steps to capture this market and the most attractive sector for growth. The LSE launched the “High Growth Segment” (HGS) in March 2013 with the goal of enticing firms to the market; companies wouldn’t have to comply with the usual free-float rules and would also be able to list by selling as little as 10% of their equity. This initiative has been received positively by fast growing companies, and according to Marcus Stuttard, Head of UK primary markets at the LSE, there is a rising interest in the broader IPO market. It is hoped that the arrival of Facebook and Google as established presences in East London will bring a new wave of commercial expertise. The government has also launched its Future Fifty scheme, designed to attract and support online entrepreneurs to push the UK into the front of the global race in this respect. These are all great initiatives, but more will be needed to ensure that London successfully rides the next wave of Israeli tech companies looking to IPO.



Abchaps welcomed Mazars Finance and Corporate Finance teams into our offices and heard about their focus on Israel, as well as their specialist sectors: media, technology and telecoms. We also entertained some special guests at Chelsea, who were victorious over Newcastle 3-0 at Stamford Bridge.



Love wasn’t the only thing in the air this week; promotions and new appointments were also on the cards at a number of top City firms. Our friends at Cavendish Corporate Finance appointed Joe Stelzer as a managing partner after four successful years at the Company.

Octopus Investments announced that Debu Purkayastha is to be their entrepreneur-in-residence at the fund management Company. No doubt he will use his previous experience at Google to drive the business forward with his keen eye for exciting new opportunities. In the legal domain, Pinsent Masons have also now appointed Michael Ruck as a senior lawyer in its corporate crime team.

Finally, following our client Lighthouse Group’s announcement last week that Rowan Dartington had been brought on board, the Group have also appointed Mark Evans as business development director, moving over from his senior executive position at Pearl Assurance.



'BitTag' – In a week where the burgeoning BitCoin industry was writ large across our newspaper headlines, our tech-loving friends over in East London introduced the ‘BitTag’ concept. BitTags are physical price tags that provide the consumer with a real-time indication of an item’s price according to market fluctuations, displaying both local currency and BitCoin value.

“Darling, you’ve left the BitTag on my valentines day present. This may have been a pricey gift at Harrods, but you could have got it at a knock-off price with BitCoin, you cheap…”



It’s the big Valentine’s Day today, so whether you have been struck by Cupid’s love arrow or are single and ready to mingle, the City is hosting numerous options for both love and lust...

Instead of gazing longingly into each others eyes over a candlelit dinner, get physical with some couples’ aqua zorbing or a ‘Lovers Leap Bungee Jump’! 

For you singletons, fear not – love could be found exploring the beautiful and the ugly at the Natural History Museum’s Valentine’s Day Night Safari. Alternatively, head to Bounce club for its anti-val, strictly no kissing, just ping pong night of partying!


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Weekly Wrap Up: Channel 4's media affair

This week, Channel 4 announced that it was ending its 5-year media affair with Youtube.

In a 2009 deal that saw all Channel 4 programmes (Skins, Peep Show etc) made freely available for on-demand viewing, both the broadcaster and broadcast sharer planned to benefit from a split of advertising revenues.

Now, however, the shiny-media-polish appears to have worn thin on this partnership; full length features and programmes have now been removed, though clips and trailers will still be shared. Broadcasters such as Channel 4 and BBC previously relied on platforms like Youtube for global distribution, but they have now developed their own on-demand technology to host their programmes.

The response from online trolls was predictably strong. In an age, and (in fact) a week (#Sainsburys), where media is becoming both increasingly difficult to source in hard copy and expected in freely, the news was met with acrimony.  In a Reddit post, given 467 up-votes, a complaint about having to stream Channel 4 through what the user described as a less than perfect website (in not so many words). This article incited 78 comments, most of which related anger at the media migration.

But is this announcement really a bad thing in the world of media and social media? Where does this leave Google-owned video-breathing beast of Youtube?

Youtube, the largest video sharing website and the second largest search engine,  was created to “share your videos with friends, family, and the world”. Whilst the quality of content varies, it's safe to say the vast majority is not of the polished Channel 4 product quality.  Now that full-feature and professionally made programmes have been stripped, will the platform return to its old roots of sharing social rather than professional content?

Youtube is an invaluable tool for the public to share material, and for businesses to portray engaging messages. It's arguably a far more important tool for these groups than for corporate broadcasters who now have their own means of digital distribution.

This purification of Youtube may take Youtube back to its core, improving its value as a social media sharing site. Without the distraction of the glossy programmes and feature films, those high quality videos shared by the public/ businesses will have more of a chance to make an impact. Citizen journalism will reach more eyes, and SME messages in corporate videos may be heard by more ears.



Abchaps have been getting back into their stride this week, enjoying the distinct buzz of anticipation around the City! A particular highlight was the Tech Start Up themed Market Lunch that Abchurch co-hosted with Alistair Crane, Executive Vice President of Monitise Create and original Founder of Grapple Mobile. Whilst Abchaps won't give too much away, it was undoubtedly a fabulous way to kick off 2014. We were fortunate enough to sit down with 10 of the City's most influential tech advisers, as well as the CEOs of start-ups that can only be described as "ones to watch" for 2014!



Cancacord Genuity strengthens its research team with three new appointments. Making the jump across from Oriel Securities is Charlotte Keyworth and Harry Philips who join the aerospace and defence desk and capital goods desk respectively. Arun George, previously of Edison Investment Research, also joins the technology team.

Our friends at Stephenson Harwood made a new partner appointment with the hiring of Suzanne Tarplee who joins the rail team. And Zeus Capital bolsters its healthcare team with a new analyst: Gary Waanders. Gary joins from Nomura and brings his wealth of expertise to the team; particularly in biotech and pharma.



"Vlog" - A video blog, or blog that contains video entries



Still suffering the financial effects of Christmas? Here are a couple of the best free events hitting London this weekend:

The London Ice Sculpting Festival takes over this weekend, so head East to Canary Wharf to witness the world’s leading ice sculpting teams chisel big boring blocks into spectacular creations as they carve everything from fashion pieces to miniature cities!

With the opening ceremony tonight, the annual London Short Film Festival takes over the City’s best indy cinemas and venues to showcase over 300 short films and documentaries. The LSFF will throw in the excellent added extras of live music gigs and parties too. With such an extensive series and tickets ranging from free to £10, check out the site to see what tickles your tastebuds.

Finally, for those not feeling the squeeze, soak up contemporary, cutting-edge and thought-provoking artistic culture and attend one of the mesmerising productions being performed at the London International Mime Festival.

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Weekly Wrap Up: The Royal Charter won’t silence the whispers

The British media were in uproar this week after Wednesday’s announcement that an independent cross-party Royal Charter for press regulation had been approved.

British press publishers had been pushing for High Court judges to place an injunction that would have stopped ministers seeking approval for this new charter. The injunction was refused, the charter approved, and the path paved for the soon to be formed Independent Press Standards Organisation (IPSO).

Editors have made their feelings clearly known; The Times Editor Roger Alton was quoted as being “extraordinarily depressed” and The Spectator Editor Fraser Nelson considers it to be an “illiberal proposal”.

And perhaps it is. One of the arguments sitting at the core of this debate is one of democracy. The British media has always prided itself on maintaining democracy through freedom of speech and subsequent heightened Government accountability. Will the introduction of IPSO threaten said accountability?

In theory, yes; an independent monitoring body would undoubtedly threaten democracy by blunting the point of the media’s knife-edge against totalitarianism.

In practice, however, how effective will this new IPSO body really be in controlling what is and is not published in our red-tops, broadsheets and nowadays apps?

Running simultaneously to the British publishers waving their publications at Lord Dyson, former News of the World Editor Rebekah Brooks and former director of communications at Downing Street Andy Coulson were appearing at the Old Bailey to answer to the charges from the phone-hacking scandal.

What came to light in this shadowy house of justice is that not only were the pair responsible for the sourcing of incredibly private information, but that they were also linked in a highly charged love affair. In a letter written in 2004, Rebekah Brooks wrote that Mr Coulson was: “my very best friend. I tell you everything, I confide in you, I seek your advice, I love you, care about you, worry about you”.

As Andrew Edis, QC, for the prosecution pointed out: “Mrs Brooks and Mr Coulson are charged with conspiracy and, when people are charged with conspiracy, the first question a jury has to answer is how well did they know each other?” Mrs Brooks’s letter to Mr Coulson certainly answers the question.

A number of the stories at the heart of the “Hacked Off” campaign, such as those regarding Sir Paul McCartney and David Blunkett, involved information that had been shared through lovers’ whispers and coffee-house gossip. The fact that the pair confided a great deal in each other demonstrates the amount of whispered information that must get blown down the Street of Fleet and through the alleyways of the City.

Indeed, Andy Coulson was once quoted as saying: “people talk, it’s known”. This comment suggests that even with an independent body regulating journalism techniques and output, it can be safely said that people will continue to talk and share news as they have always done, whispers will still be spread, and journalism; both political, financial and celebrity, will still rely to a certain extent upon information that press regulators will never be able to control.

In reference to par. 17 of Section 3 of the newly formed Royal Charter (as recommended by financial journalist Paul Lewis: “The Board should not have the power to prevent publication of any material, by anyone, at any time although (in its discretion) it should be able to offer a service of advice to editors of subscribing publications relating to code compliance.”

If this week has highlighted anything of interest to the City it is that having total control over what is being communicated and shared both inside and outside of board meetings is still absolutely essential. Whilst the Royal Charter will ensure that rogue journalism is caught up and monitored, press freedom still exists and will continue to exist (even if only in whispers).



A very busy week for Abchaps with a lot of movement around the City. The resources team attended the Baker Tilly Natural Resources reception at the Park Lane Hilton earlier in the week. One Abchap joined the President of the Shanghai Pudong Develop Bank (SPD) in the launch of their London Office, whilst another went Green at the Envirotech and Clean Energy Investor Summit, as well as a United Nations special on “Is a 'Green Industry' approach the key to competitive edge?”



The UK government makes a bit of history this week as it not only appoints its first woman, but also its first black person, as a permanent secretary at the Treasury. Sharon White becomes second permanent secretary and will be responsible for overseeing the fiscal squeeze whilst she manages Britain’s public finances.

Winn Faria has migrated from his role as COO at management consultancy firm ASource Global to become the director of Baker Tilly’s Financial services risk department.

PwC has strengthened its energy and low carbon team with two new appointments Ronan O’Regan and Steve Mullins. O’Regan shifts his PwC role from the energy financing team to head its UK renewables practice, whilst Mullins is welcomed as the new smart grid leader.



'Super-Injunction' - A legal gagging order which not only prohibits the media from reporting the details of a story, but also prevents mention of the existence of the injunction itself.


Remember remember the fifth of November, gunpowder, treason and plot! Celebrate Bonfire Night at one of the many London events being put on this weekend. Check out LBC Radio’s in depth analysis of this year’s spectacular pyrotechnics happening across the capital!

For those scared of things that go bang in the night and those beginning to get those festive feelings, its time to rejoice as the Natural History Museum enchanting Ice Rink makes its debut opening this weekend. So don your skates and ear muffs, get down to Gloucester Road and get gliding!

Finally, for those that missed out on Halloween shenanigans this week with it being a ‘school night’, fear not as The Halloween Playground takes over the deep, dark tunnels underneath Waterloo Station. Fancy dress is compulsory as The Vaults hosts chilling cabaret, musical voodoo and “devilishly good DJs”.

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Weekly Wrap Up: SMinterviews

Twitter Q&A sessions… An ingenious tactic used by PRs to make clients appear as open and as forward thinking as possible? Or a potentially hazardous exercise? The answer unsurprisingly is... both.

Queens Park Rangers Football Club yesterday had to abandon an #AskHarry Q&A on Twitter owing to immense trolling and humorous insults. Labelled a PR disaster by the media, one has to ask what ever entered the minds of QPR’s PR team, firstly when you consider manager, Harry Redknapp’s rather colourful career, and the recent British Gas Q&A disaster. These forums have to be taken with trepidation and planning.

When conducting a Twitter Q&A or a Twinterview, it is the responsibility of the PR to carefully consider all eventualities. Think in the long term, not the immediate term. Anticipate potentially tough questions, so responses can be planned and given out immediately, as it is certainly not as easy as one thinks to put everything down in 140 characters. In QPR and Harry Redknapp’s case, it would have been advisable to have anticipated tricky questions and had humorous or even honest answers to them:

 

The preparation and briefing is as important as the interview. The PR department at QPR were pretty naive for not considering the myriad of potential troll like questions directed at the former Spurs boss. The CEO of a large corporate PLC would never jump onto a BBC screen without having been thoroughly briefed on potential “danger topics” prior to the interview, so neither should Harry Redknapp have been allowed to hop into the Twitter-sphere so unprotected.

Another example of extremely poor planning was, the loathsome CEO of Ryan Air, Michael O’Leary’s Twinterview. He reportedly received no preparation or briefing from his PR team, and subsequently went on to make an early and rather sexist comment in response to a girl’s picture on Twitter. Did O’Leary’s PR team not create a social media policy for the Company, and fling it in Michael’s face, make him read it and learn it in advance of this PR nightmare?

Not all Q&As on Twitter are a disaster, and celebrities such as Jay Z have utilised the idea very well; but then Jay Z is going to have far less trollers and more fans than the CEO of one of the "world’s worst airlines", an increasingly expensive British Gas, and a football manager who has left virtually every football club he’s ever managed in ruins.

Considering the differing receptions that #AskHarry and Jay Z received through their respective SMinterviews, perhaps it is fair to suggest that they should have been broadcast through different platforms. Whilst the flow of adoration stemming from Jay Z’s fans could be contained in responses of 120 characters, #AskHarry would have benefited from the extra space and characters that a tool such as Reddit’s AMA (Ask Me Anything) allows… Again, a consideration of the relevance and appropriateness of social media platforms should have been done in preparation to Harry Redknapp’s Twinterview. What is encouraging to see is companies within financial services starting to use social media to create discussion and engagement and can be demonstrated by peer-to-peer lender Zopa’s participation on Reddit.

The Bank of England put chief economist Spencer Dale in the firing line only a day after #BritishGasGate and he fared far better. A great result for financial services which has to do more to appear open and trustworthy, and if done correctly Twitter Q&As might be the way forward to ensure this. The onus will be on PRs to prepare clients and anticipate the tricky questions which could easily get fired at a company or organisation with financial services.



Breakfast time for  Abchaps certainly provided more than just the usual coffee and toast this week! We attended The Royal Society of Chemistry to hear insights from The Royal Scientist magazine experts and a breakfast briefing hosted by AIM where Meryam Omi of L&G Investment gave a particularly strong argument as to why NEDs should be responsible for ensuring business sustainability.

We were also invited to the Jumeirah Carlton Tower by the Arab Bankers Association where a whole host of Arabic financial professionals from all over the world came together to build relationships and share ideas. Mid-week, Smith and Williamson hosted a fantastic evening of Tries, Tikka and Talk with Will Greenwood sharing some amusing tales from his Lions and England days and we welcomed our own guests into the office for two Market Lunches to discuss the latest developments in the worlds of digital technology and the Oil and Gas industry.



Dorsey and Whitney LLP has moved its entire team of staff to its swanky new office building in Broadgate. The law firm has set up camp in the Grade A office building, 199 Bishhopsgate and will now share lifts with employees from the likes of Stephenson Harwood, Pinsent Masons and Reed Smith – keep it friendly chaps!

Another law firm adding talent is Eversheds – recruiting a new partner, Andrew Herring from Greenberg Traurig Maher, to its international transport team.

Smith Square Partners also adds strength through hiring Paul Baines. Baines' previous roles includeCharterhouse Bank and Hawkpoint Parnters.



"SMinterview" - To arrange or conduct an interview, the exchange of questions and answers, via a social media platform



It’s the weekend of creepy goings-on, zombies in the night and spooky encounters as Halloween celebrations hit full steam. So, if you can tear yourself away from scrounging sweet treats and playing tricks, London is hosting a number of spectacular events.

Head over to Portobello Pop-Up for Tee’s and Cee’s ‘Halloween Movie Mash-Up Weekend’. From Friday to Sunday, it will host a horror themed cinematic experience of cult classics: Halloween, A Nightmare on Elm street and The Rocky Horror Picture Show. Guests will also be treated to Halloween themed food, drink, games and activities. And don’t forget the fancy dress!

The London Dungeon’s is opening its doors to its first ‘Late’ for a special Freight Night ’Dungeon after Dark’. In addition to the attendance by Guy Fawkes and Sweeney Todd, there will be appearances (or not!) by a number of ‘virtual’ guests such as Henry VIII and Jack the Ripper as well as the typical over-18 shows and ‘surprises’!

Finally, keep the kids entertained this weekend and get them involved in the Halloween celebrations at London Zoo’s ‘Boo at the Zoo’ event and see what creepy creatures are lurking in the shadows!

Alternatively, see what spooky going’s on are occurring at the the school of Witchcraft and Wizardry in a special Harry Potter ‘Ghostly Goings-on’ tour at Warner Bros Studio.

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Weekly Wrap Up: Monkeygate

“Roy Hodgson is a man of the highest integrity”; were the words the FA Chairman Greg Dyke used to describe the England Manager in the wake of Monkeygate where Roy during his half time team talk at Wembley on Tuesday against Poland rather naively referred to Tottenham’s mixed race winger Andros Townsend as a monkey! It was not only the FA head to rally behind Hodgson, but a number of England players took to Twitter to defend Hodgson, including Townsend, the ‘victim’ in all of this.

Wayne Rooney defending Hodgson

A very quick bit of background for the non-football fans out there; at half time, during Tuesday night’s must win World Cup Qualifier against Poland, Roy Hodgson referred to an old Nasa joke about a monkey and an astronaut whereby Andros Townsend was the monkey, and right back Chris Smalling was meant to be ‘feeding him’ i.e. give Towsend more of the ball.

By all accounts Hodgson apologised during half time, and as far as the England squad was concerned, it was case closed and England went on to beat Poland 2-0 and qualify for Brazil 2014.

So how was the Sun able to run a front page story the next day about this joke which did not even cause offence? Simple, an England squad member whose identity is not known (and it is now being rumoured as two members) leaked the story to the tabloid. A PR disaster for the FA? When the country should be celebrating qualifying for the World Cup and the apparent £100 million participation in a World Cup brings to our economy, instead the talk has been about Roy’s gaffe.

The FA and England team should have enough team spirit and internal openness that this should not have been leaked causing a PR problem. This is important for any organisation, but particularly for one like the FA where there is so much public scrutiny owing to the Luis Suarez and John Terry incidents. Companies need to ensure any grievances are addressed internally to avoid a dissatisfied member going public.

The amount of support levelled at Hodgson from players and chiefs are the right action to take to support in this case a CEO in the limelight for the wrong reasons.

Let’s now forget about Roy’s naive joke and concentrate on the World Cup and how England’s participation can aide Britain’s economic recovery.



Another busy week for Abchaps: we entertained Locke Lord over a creds swap, including their Oil and Gas experts and a Cards and Payments guru! We also hosted a Market Lunch where positivity on IPOs was heavily reinforced by all our guests.

We also attended events including Rushlight Events Fracking economic vs environmental debate, Shares Investor Mining and Gold Evening, Cleantech Investor’s Automotive Cleantech Breakfast. Farrer Dinner, Grouse & Grape Lunch at Dartmouth House, Thomson Reuters AIM nomads networking forum and an PR focus group hosted by Farrer & Co.



Oriel Securities secured an excellent acquisition this week with the appointment of Kenneth Rumph. An environmental financial analyst, he specialises in energy and resource efficiency. With previous experience at Nomura and Merrill Lynch, he brings with him a wealth of knowledge and enormous skill.

Meanwhile, Edison appointed equities analyst Angus McPhail from Investec to their oil and gas team, to specialise in mid-cap explorations companies, whilst Taylor Wessing hired partner Matthew Jones (most recently at Nabarro) in its construction and engineering group. BDO also appointed Stuart Deacon from Ernst & Young as restructuring M&A partner in its business restructuring team.



'Xenophobia' - the irrational fear of that which is perceived to be foreign or of another culture. #Monkeygate #ChinaFactor



Frieze, the biggest contemporary art event of the year, is back in London for its 11th year. 152 of the world’s leading contemporary galleries from 30 different counties will be gathering in Regent’s Park this weekend. In addition to viewing and purchasing art, visitors will be able to experience projects, talks, debates and discussions by key arts aficionados.

Head North London direction for the Bloomsbury Festival 2013. Running for six days from 15 – 20 October, over 200 free events will showcase an extraordinary line up of the world’s most influential thinkers through an eclectic programme of pioneering art, music, dance and literature.

Celebrate the closure of National Chocolate week at ‘Bea’s of Bloomsbury’s’ Evening of ‘Chocolat’. Bea’s has teamed up with master chocolatiers Valrhona for an interactive movie night: following on-screen cues when the character tucks in, taste the five chocolates of the films. Additional treats of chocolate chilli and chocolate popcorn will also be available!

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