Liverpool businesses

[Blue Lou]

Who would you say are the most successful Liverpool based businesses?

[openlyJane]

Home Bargains has to be one of the most lucrative - its owner is listed as one of the wealthiest in the U.K; what's more he is still living in the city ( not Wirral, Formby or Southport).
I did not know until I looked at my packet of pasta, but Napolina has its head office in the Liver Building ( but is Japanese owned)

[mm2259]

Annual Turnover

Littlewoods Shop Direct - £2bn
Matalan - £1bn
Home Bargains - £480m

There must be others.

[Chris B]

TJ Hughes (2007 figures) -

Revenue - £239.5 million
Operating income - £5.1 million
Profit - £2.9 million

Its figures might not be as big as other stores (but then it's not as big a chain), but it's still successful.

[nosey]

I thought Matalan was from Preston...

Anyway, Homebargains, I can think of. Legendary place. I fucking love it.

[Scarecrow]

Nah. The Matalan shagger is from Preston. They're Skem based.

[yoshef]

Bibby

http://www.bibbygroup.co.uk/

[yoshef]

Beetham

http://www.beetham.eu/home.php


successful in fame if not fortune!

[Matthias Corvinus]

Home Delivery Network

http://www.hdnl.co.uk/

[Dreamer]

What about Halewood International??? makers of Lambrini - Jane Im sure you drink this all the time!!!, Redsquare, Carribean Twist and loads more

[Blue Lou]

Just looked that one up.. didn't realise they were local!

Caribbean Twist
Crabbie's Ginger Beer
Crabbies Green Ginger Wine
Drinks 2 Home
Lamb's Spiced Rum
Lambrini
Lambs Navy Rum
Red Square Vodka
Tsingtao Beer
Whitley Neill

[Dreamer]

mmmmm Crabbies, its really really nice, I love Red Square to!!!

[Dreamer]

Theres also Royal Liver and Rathbones

[Blue Lou]

Rathbones is now owned by Morrisons isn't it?

[Joe the red]

I think Dreamer means Rathbones Investment Managers

[Dreamer]

spot on Joe, bag of home bargains haribo star mix to you!

[PhilG]

http://www.john-west.co.uk/about-john-west/

[JohnnyLeigh]

.
This is a fantastic article for you guys to read, extremely positive about Rathbones & Liverpool -
http://www.ft.com/cms/s/0/0bef826a-3...44feabdc0.html

Profits fell but the fact they made profits during the worst financial crisis since the 20's is stunning, and they have expanded their business well.
Very positive for a key industry - critical I'd say - for Liverpool

If your not a member of FT then google:
‘A good crisis’ for Liverpool mainstay

*edit = first line says Rathbones might be Liverpools old company, interesting

[Mr.Someone]

I know Vergo Retail (Lewis's owner) on Renshaw Street have about 20 department stores. I think they have a turnover of around £50m - Liverpool seems very strong for retail head offices. Whether the head office moves away from Liverpool when the store shuts I don't know.

[MR KITE]

Followoing on from Johnny's post above

Liverpool takes title as Second City of Wealth Management


Liverpool's £12bn wealth management industry is the UK's biggest outside London, a report by an independent industry benchmarking group has found.

The port pipped Edinburgh and Manchester as Britain's "second city" of wealth management, according to the ComPeer survey of 148 private banks, private client investment managers and stockbrokers.

The report, produced for Professional Liverpool, which promotes the city's professional services sector, identified the north-west as the strongest region outside London, with Liverpool hosting the biggest sector.

The region had £24.8bn worth of assets managed at the end of 2008 in 145,930 customer portfolios, with companies generating £249.3m in fees, commissions and other charges annually. The city accounted for £121m in revenue and managed £11.6bn of assets, with Manchester managing £10.7bn and Edinburgh £10.6bn.

Mark Chadwick, chief executive of Professional Liverpool, says: "The results will not surprise the industry itself but for the wider world this is probably a very well kept secret and we're happy to promote it.

"The findings of the report completely validate the city's strength in this sector. Part of the region's attraction as a destination for wealth managers are its competitively priced staff and premises and, despite turbulent economic conditions and corporate changes, many of the major players have chosen to operate in the city."

Deutsche Bank used Liverpool for its entry into UK asset management when it bought Tilney Investment Management in 2006. Tom Slocock, UK chief executive of Deutsche Bank Private Wealth Management, says: "The city remains a key location in our network of regional offices which serve the significant wealth located outside of London and the south-east."

Tilney was the fourth-biggest independent provider of wealth management services in the UK, with assets under management of about £6.7bn and 15,000 clients when Deutsche bought it. It has dropped its name but kept its offices in London, Edinburgh, Glasgow, Birmingham and Shrewsbury.

It was founded in Liverpool in 1836 and, along with Rensburgs (now Rensburg Sheppards), founded in 1873, and Rathbones, established in 1742, it formed a triumvirate of big groups that ensured Liverpool's strength in a very fragmented market. At the height of the Victorian era, the city had more millionaires than anywhere outside London.

Andy Pomfret, chief executive of Rathbones, the listed private client wealth manager, says: "Investment management and private client tends to be a domestic business. We are the third-biggest discretionary asset manager and have only 3 to 4 per cent market share.

"There is a cluster in Liverpool . . . dominated by three private client firms in a way that Manchester is not. Three firms here have 80 per cent of the market."

Rathbones and Rensburg Sheppards remain in the top three asset managers, after Brewin Dolphin, and are well placed to benefit as the industry consolidates.

Panmure Gordon, the institutional stockbrocker, recently arrived in the city and Mr Chadwick believes the report's findings will encourage others to join it.

Although Rathbones has moved its head office to London, it manages £1bn of assets and employs 300 in back office functions at the Port of Liverpool building. Rent is nearly £15 a square foot rather than £90 in London's New Bond Street.

"You are fishing in a deep pool because there have been a lot of financial institutions here," says Mr Pomfret.

Nearby Chester has a knot of such institutions, including M&S Financial Services and Halifax, while Alliance and Leicester is based in Bootle and Cooperative Financial Services in Skelmersdale.

At the end of 2008, Liverpool had 64,586 portfolios and Manchester had 58,643 against Scotland's 91,058. London accounted for two-thirds of all assets under management nationwide, with the north-west managing 7.2 per cent, ahead of the south-east's 5.9 per cent, although at £289m the latter generated more revenue. This remains a challenge for the north-west, where portfolios are on average smaller.

However, David Owen, senior investment director of Rensburg Sheppards, says Liverpool was a "centre of excellence" that should grow. He says: "The past three or four years have focused clients on the importance of long-term relationships in managing their wealth, which benefits our model."

Good crisis for city mainstay that has a very personal approach

Believed to be Liverpool’s oldest company, Rathbone Brothers, the wealth management group, traces its history back to 1742.

Founded by a merchant family, it became a money manager in the last century, initially looking after family and friends.

It now has 30,000 clients and £13bn of funds under management, recently buying private client businesses from Lloyds Banking Group and Bank of Scotland, and concentrating the back office work in Liverpool.

Andy Pomfret, chief executive, says it has had a good crisis. “A lot of competitors have lost credibility. People perhaps do not trust some of the larger banks as much. We have gained a lot of business from organic growth. Everyone talks about the Lloyds deal, which involved about £380m in funds, but we have gained more in organic growth [which was £631m in 2009].”

However, he concedes times are tough. Full-year pre-tax profit fell 30 per cent from £42.3m to £29.5m as operating income fell from £131m to £116.8m. While fees and commissions began to rise, the interest earned on its own and customer’s cash fell from £31m to £18.5m as rates fell, accounting for the drop in profits.

Rathbones was the first plc to decide to pay a second interim dividend, of 26p for a 42p total, rather than wait for the annual meeting, to avoid the 50 per cent income tax rate coming into force in April.

It has always been pro-active about tax treatment – its lower fee and higher commission structure is designed to reduce clients’ tax burden – but it has pulled out of offshore tax planning. It sold its operations two years ago amid signs of a hardening attitude in developed countries to legitimate tax avoidance, rather than illegal tax evasion, and has been proved right.

Mr Pomfret believes the business will continue to grow. “We have a very personal approach, with a professional sitting in front of the client. It is different from the centralised banks where you have a client relationship manager rather than a fund manager. Our average employee is here for 20 years.”

“Over the last five years we have doubled funds under management with only a 10 per cent increase in support staff. We have built up a great team. Liverpool is a fantastic asset. It is the jewel in our crown.”

It allows Rathbones, which has a £20m-£30m cash pile, to make further acquisitions without adding to costs. Portfolio Management Service, the Edinburgh-based business it bought from Bank of Scotland, had £500m under management.

http://www.liverpoolvision.co.uk/new...p?recordid=613