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See how Citi is taking steps to help mitigate the effects of the pandemic, from helping clients to providing relief through funds to frontline healthcare workers, organizations such as No Kid Hungry and more. Despite the pandemic limiting options for group events, Citi was determined to do our part through meaningful volunteerism. The Citi Plex Account is a new digital checking and savings account built to make managing money simpler, smarter and more rewarding. Community Development Financial Institutions do more than provide capital, they level the playing field for communities and populations at risk of being left behind. Market attention has focused on the bearish potential return of the U.

James dewhirst investment management partners consulting forex prekyba urmu

James dewhirst investment management partners consulting

About Oaklins Our locations. Go to deals Other Industries Private Equity. Talk to the deal team. Related deals. Private Equity Business Support Services. VIA equity has invested in eSmiley. Private Equity TMT. By accepting our use of cookies , you help us track visitor statistics and improve our website experience. Works with clients globally to bring about large-scale manufacturing transformations, with a focus on managing change.

Stephen Hall Senior Partner, London. Brings more than 25 years of experience in the energy and mining sectors to his work counselling clients on strategy and performance Christopher Handscomb Partner, London. Leads our work globally on organisation for players in the energy industry, and supports companies across sectors on enterprise-wide Wesley Hayes Partner, London. Advises on private equity and principal investor projects across the investment cycle in Europe, North America, and Africa, with Nicolaus Henke Senior Partner, London.

Helps clients use artificial intelligence responsibly to enhance performance. Louise Herring Partner, London. Guides digital and analytics transformations for retail and consumer-facing clients in the United Kingdom and Europe. Sarah Holcomb Associate Partner, London. Brings data-driven commercial and strategic insights to companies across the media and telecommunications sectors. Richard Hudson Senior Partner, London.

Brings over 17 years of experience in board, operational, restructuring, and advisory roles. Dame Vivian advises leading companies on a broad range of strategic topics, with a particular focus on performance transformation, Barbara Jeffery Partner, London. Coleads the Organization Practice in the UK and focuses on delivering transformative organization journeys to change organizations Matt Jochim Partner, London.

Serves consumer-packaged-goods and retail clients on issues, such as the optimization of selling, general, and administrative Matthew Johnston Partner, London. Brings 20 years of advisory and interim-management experience in restructuring, turnaround, and transformation. Tomas Jones Partner, London. Helps large financial institutions define digital strategies and deliver end-to-end digital transformations at scale.

Megha Kansal Partner, London. Rehana Khanam Partner, London. Drives large-scale performance-improvement programs as a leader of our operations work for consumer clients. Dieter Kiewell Senior Partner, London. Translates pricing innovations into profit gains in a broad array of sectors and businesses. Brian Ledbetter Senior Partner, London.

Provides deep expertise in business technology, IT architecture and strategy and operations for clients in the financial services Matthieu Lemerle Senior Partner, London. Supports corporate and investment banks, brokers, and exchanges as they optimize their operations to achieve sustainable productivity Cindy Levy Senior Partner, London.

As global leader of our Risk Practice, helps large global banks on projects related to strategy, organization, and risk governance Chris Llewellyn Senior Partner, London. Advises senior leaders as they transform their performance and seek new sources of strategic growth. Emma Loxton Partner, London. Works with companies across the travel and defense industries to build and deliver strategies and improve commercial performance.

Helen Mayhew Partner, London. Advises leaders in the public and private sectors, employing analytics as a tool to improve organisational performance—ensuring Sorcha McKenna Partner, Dublin. Helps deliver organisational transformation in health care, with a special focus on designing and implementing integrated care Helps chemicals and oil and gas clients on a broad range of issues related to business and operating model transformation, strategy, Thomas Meakin Partner, London.

Serves consumer-facing technology and media companies on their most challenging strategic and commercial issues, co-leads our David Meredith Partner, London. Extensive experience in health-system development in emerging economies. Daniel Mikkelsen Senior Partner, London.

Leads the risk advanced analytics work and is a leader of the operational risk, compliance, and control work in Europe, the Middle Zdravko Mladenov Partner, London. Advises clients in the public sector on a broad range of technology topics, including technology modernization, technology and Jessica Moulton Senior Partner, London. Helps multinational consumer-packaged-goods, retail, and food-service companies pursue strategic growth opportunities and strengthen Philipp Nattermann Senior Partner, London.

Works extensively with telecommunications and media companies on addressing the challenges arising out of market transition to Robin Nuttall Partner, London. Leads our work in Regulatory and Government Affairs, serving both regulators and regulated clients on strategy and organizational Tunde Olanrewaju Senior Partner, London.

Advises a range of financial services, private equity, consumer facing and public sector institutions on strategy, digital transformation, Aleksander Petrov Partner, London. Leads our work in risk advanced analytics in Europe, bringing deep expertise to financial services institutions and corporate Swarna Ramanathan Associate Partner, London. Anders Rasmussen Senior Partner, London. Brings expertise in corporate finance and risk management to oil and industrial companies, helping them prepare for growth and Pedro Rodeia Senior Partner, London.

Co-leads the Global Banking Practice. Works with financial institutions on a wide range of strategy, digital and organization Kristin-Anne Rutter Partner, London. With experience as a medical doctor, serves healthcare clients on strategy and performance improvement with a focus on capturing Tamim Saleh Senior Partner, London.

Pushes the cutting edge of advanced analytics to guide business transformations and boost the effectiveness of strategic decision Max Schlichter Partner, London. Designs and leads supply-chain transformations for pharmaceutical, consumer-goods, agriculture, and chemical clients. Colin Shaw Partner, London. Ben Sheppard Partner, London. Advises clients on developing bold, Stuart Shilson Senior Partner, London. Combines strategy expertise with government experience to support the senior leaders of a wide range of infrastructure-related Kate Smaje Senior Partner, London.

As the global leader of McKinsey Digital, serves consumer-facing companies on digitally enabled strategy, marketing, operational, Angela Spatharou Partner, London. Leads some of the largest healthcare-transformation programmes in the United Kingdom and Spain, focusing on digital innovation, Gisa Springer Associate Partner, London. Brings deep expertise in strategy, corporate finance, corporate ventures, growth equity, and start-up ecosystems, with a focus


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Did performance improve? What did you achieve? Lay-offs have been less common in asset management than in banking, job tenure is generally longer and any inconsistencies are given greater scrutiny. Get the latest career advice and insight from eFinancialCareers straight to your inbox. Please click the verification link in your email to activate your newsletter subscription. Click here to manage your subscriptions. Search Jobs. Graduate Guide. The perfect resume for asset management by Paul Clarke 05 July The perfect graduate CV for investment banking.

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Popular job sectors Popular job sectors Loading Cannot load job sectors at this time. However, the programme's real strength was the reminiscences of Feynman's scientist colleagues, quietly spoken men through whose words we got not only a vivid impression of the tireless genius of the man they admired, but also of the compulsion, even the sheer aesthetic pleasure, which drives the best scientists in their quest for understanding of the universe.

Armed force was out. Marxist agitation was in. It aimed to be dramatic. Staccato commentary, to convey the drama. Not many dates. The result was banal. Like a tabloid newspaper. Pity really. The Sparks That Lit the Bonfire ought to have been a cracker, with notable interviews with leading Irish politicians in power at the end of the 'sixties, members of the Republic's armed forces who brought the guns and money into Ulster, and the men who watched the IRA split. As it was, the commentary was unbearably vague and silly, and matters were not helped by interventions from a terrible folk-singer.

Each programme strays hither and yon in its travels around the developed world. What should be a polemical inquiry into whether high-technology medicine regularly loses its way. This week The Magic Bullet was as prone to side-tracking as the rest. Fairly irrelevant to the grand theme were the Spanish herbalists frustrated by the law in their efforts to peddle concoctions of leaves.

Ludicrously so was the encounter session, or some such gathering, of middle-class American women who we saw weeping literally over the sins of the big, nasty drug industry. What a very damp squib to lob at the drug manufacturers. Many of its performances go straight back to the comedy shows like Take It From Here that used to give such universal pleasure on the old BBC Radio: full of silly jokes, some of which are very funny.

Worlds Apart, the new work by the theatre's resident writer Paul Sirett, is far too good-natured to be much of a satire and too loosely structured to be much of a play, but it would be difficult not to enjoy it. As the genesis of a television series it would probably run for years, for there is no limit to what the immigration officers at London's Heathrow airport might get up to. Heathrow is where the piece is set, or more precisely the SEA, which stands for the secondary examination area.

British immigration officials are the 'last blue line - after us, Armageddon]' They are there to stop foreigners getting in, particularly if they are anything other than white and most of all if they use the dreaded words 'political asylum'.

Any bureaucratic excuse will do to send them back. The piece is quite clever about this. The word 'colour' is never mentioned by the immigration authorities: the law is against discrimination of this kind. Still, the old prejudice lingers on. Those held up for examination in the SEA include a black American air force man coming for a weekend from Wiesbaden, a successful East African Asian who has long been a British citizen and was once voted young businessman of the year, a pregnant woman from Zaire coming to see her husband, a not very white looking Spanish dancer arriving for an international competition, and a Tibetan artist trying to get away from Chinese persecution by having stowed away on a freight plane from Angola.

Only the Tibetan is a genuine candidate for asylum. The authorities respond by saying that he can stay if, in effect, he agrees to spy on other Asian immigrants. Worlds Apart is clever again in that the main conflicts take place more between the detainees themselves than with the authorities.

The East African Asian, who has become more English than the English, takes a particular dislike to the black American. The latter plainly does not think much of Britain, regardless of colour. The immigration officers are a less than homogeneous group as well. One of them spends his time composing scripts for pornographic telephone calls. Another leaks the presence of the Zairean lady to a liberal lawyer outside the airport.

The explanation for this lack of solidarity is that the officer in question is not only gay; he is Welsh. If the description makes the piece sound earnest, it is nothing of the kind. One suspects there will be a lot of topical ad-libbing from night to night. On Monday he commiserated with the English over the dreadful collapse before the Indians in Calcutta: then he took a swipe at the Pakistanis.

The Spanish dancer has had planted on her some photographs to be delivered to a tabloid newspaper. Only the East African Asian recognises who is being exposed and wonders what the Conservative Party is coming to. Like his detention at the airport, he says it would never have happened under Margaret Thatcher. Some of the jokes are low. One of the women in the immigration service left the police force because of sexual harassment. It is old radio comedy brought up-to-date and made multi-ethnic, though still broadly unilingual.

Jeff Teare directs and while Sirett could take his talents to television there is huge pleasure in seeing Worlds Apart on stage with a live script and a lively audience. The 'greenness' of one kind of fuel over another has been hotly contested in the debate on the future of the UK coal industry. But putting numbers on the environmental damage done by each fuel type to clarify that debate is notoriously difficult. In the US many states have been forced to do just that by two decades of ambitious environmental legislation: frequently they force utilities to include environmental costs in their applications for new energy contracts.

The report, prepared by the Association for the Conservation of Energy, says that 32 US states 'have taken some action to account for environmental externalities' - the costs normally 'external' to the electricity market's prices. But the methods used to put money values on environmental damage vary widely - as do the values themselves.

Most methods avoid 'damage cost assessment' - putting a figure directly on environmental and health damage from pollution. That approach runs into difficulty over the treatment of different probabilities of damage - how, for example, to deal with the uncertainty over whether carbon dioxide emissions are causing global warming or not. Instead, most measure 'control costs' - the extra costs imposed by legislation - and assume that the money value of environmental damage is greater, or the law would not have been passed.

This makes the figures easy to find, but the report comments that it assumes unrealistically that legislators accurately estimated environmental damage. One study by the Tellus Institute, a US think-tank quoted by the EC report, says US power plants face costs between 47 per cent and per cent higher than older plants because of new legislation.

The conventionally-measured cost of generating power with 'new coal' - stations equipped with filters for nitrogen and sulphur oxides - is about 8. The conventional cost of generating with existing coal, about 6. Oil emerges as the 'cheapest' on this basis, with conventional costs of 6. That estimate emphasises the difficulty of international comparison: a similar 'provisional' study of UK environmental costs published by the Department of Trade and Industry in December had oil as the 'dirtiest'.

The report found too that there was wide variation at state and even district level. California, which has some of the most stringent environmental legislation in the US, has 'different externality values across the state' because air pollution rules are set at regional level.

Environmental costs of building 'new coal' plants in California were around 6. This is because BPA calculations are based on the alternative 'damage cost' approach and exclude estimates of the damage caused to the atmosphere by carbon dioxide emissions.

The BPA felt it would be 'premature' to judge whether global warming was occurring. In a different attempt to address that uncertainty, New York state directed that planning applications should not set costs of controlling carbon dioxide emissions at more than 20 per cent of a low-cost technology such as tree planting. As a result, it has some of the lowest figures for 'new coal' externalities: only 1.

Despite the shortcomings of these estimates, the report concludes that the attempts reduce the risk that future electricity customers will be hit suddenly by the costs of cleaning up. For the first time in its year history, BAT Industries, the tobacco and financial services group, is to split the roles of chairman and chief executive. Martin Broughton, 45, the non-smoking head of the financial services division, has been appointed group chief executive and deputy chairman.

He will be accountable to Sir Patrick Sheehy, chairman, for the management of the group's operations and the development of business and financial strategy. Sir Patrick, 62, who has held both posts since , says: 'Dividing the roles of chairman and chief executive is very much a new and untried development. The board will review its appropriateness in two or three years' time when I intend to retire.

Broughton, who takes up his new post on April 1, was the City's tip to succeed Sir Patrick and the appointment was welcomed yesterday. Said one: 'It is an evolutionary move, maintaining the commitment to the core businesses. There are lots of opportunities to be seized. Broughton joined BAT in , shortly after qualifying as a chartered accountant, and spent the next three years working in four continents as a travelling auditor for its tobacco operations.

He held a variety of financial positions before moving to Souza Cruz, the Brazilian tobacco subsidiary, in , becoming finance director in A year later he transferred to the group's insurance business as first finance director of Eagle Star. But he left in to join BAT Industries main board as finance director before the insurance business began to run into problems.

He joined the chairman's policy committee, the board's key executive body, in January , and later he assumed responsibility for group personnel and was appointed senior finance director. Eight months ago, he was appointed group managing director, financial services, and chairman of Eagle Star. Broughton has been a member of the CBI's economic affairs committee, and of the urgent issues task force of the Accounting Standards Board since He will head an executive management team whose other members will be Ulrich Herter, managing director of the tobacco operations, and David Allvey, group finance director.

Vetiver, a coarse tropical grass, is the most practical solution to the global problem of soil erosion, which destroys millions of hectares of farmland every year, the US National Research Council said last week. That conclusion vindicates a campaign by a small group of agriculturalists in the World Bank's Asia division, who have been extolling the virtues of vetiver for more than 10 years, in face of widespread scientific scepticism.

Vetiver, a native of India, is best known for the fragrance extracted from its roots for use in soaps and perfumes. But, according to the NRC, a hedge of vetiver planted across a hillside makes a superb 'botanical dam' that can hold soil in place and withstand the run-off from torrential downpours over a period of decades.

Its roots go more than two metres into the ground and the tough blade-like leaves grow two metres high. One advantage of vetiver is that the grass exists in sterile forms which stay in place for decades without spreading. In contrast, some other plants used to curb erosion have rampaged out of control. Although vetiver's native habitat is hot and humid, the plant is astonishingly adaptable, says the NRC.

It has performed well in poor soils in dry countries and has even withstood frost in the southern US and China. But the NRC calls for more research to breed varieties suitable for cold climates. And I know that in these times of great ecological concern about what is happening to our soil because of erosion, vetiver could indeed play a very useful role in many places. The NRC calls for vetiver to be put into widespread use without delay. Field trials should test a variety of new applications, including protecting roads and railways from flooding and landslides.

The grass is already being planted in the Philippines to help re-stabilise roads destroyed by the earthquake in northern Luzon. Tim Dewhirst, great grandson of Isaac Dewhirst - the Yorkshire merchant who gave Marks and Spencer its first big break - has been made executive chairman of the Dewhirst Group, the oldest supplier to Britain's premier high street retailer. The promotion of the year-old Dewhirst is part of a management reshuffle which includes the appointment of the first chief executive from outside the Dewhirst family - year-old David Witt.

Witt right , who only joined Dewhirst in September , has a big company background, and his swift promotion to chief executive is a sign that the family-controlled firm is keen to strengthen its management. Having worked for UDS Tailoring in the s he joined Slimma in and rose to be a main board director of its parent Tootal at the time of the Coats Viyella takeover. Isaac Dewhirst lent Michael Marks Pounds 5 to get his business started in the s, and although he turned down Marks' subsequent offer of a partnership, put him in touch with his cashier - Thomas Spencer.

Today, Marks and Spencer has a market value of Pounds 8. Two years ago it had to cut its dividend for the first time in its history. However, its fortunes appear to have turned with the acquisition of Slimma. Not only did it bring in new management led by Witt, but it reduced the company's reliance on the fickle menswear market.

Its shares have more than doubled since the rights issue to pay for Slimma. Dewhirst takes over from Anthony Vice, former financial journalist and Rothschild merchant banker, who has been keeping the chairman's seat warm for him since Vice remains on the board as does James Dewhirst, who has relinquished his role as non-executive vice chairman.

Down at the low-technology end of manufacturing, even the humblest products are caught up in the greening of industry. Pressure to clean up the air is forcing a striking change in traditional methods where solvents are used; that includes such mundane activities as the manufacture of bottle tops and shoe soles.

This is the result of an international attempt, led by the United Nations, to reduce volatile organic compounds in the air over Europe. VOCs are the vapours given off by a range of chemicals used in industry, such as solvents, and contained in consumer products, such as house paint and petrol. The compounds collect in the atmosphere and react with sunlight to form photochemical smog and low-level ozone. These smogs irritate the breathing system and can be particularly harmful to the health of young children, the elderly, those with breathing complaints and people who exercise outdoors.

Some VOCs are implicated in global warming. Each government is responsible for devising plans to meet the target. Also, the EC is working on legislation to force certain sectors like the petrochemical and oil industries to make big cuts in VOC emissions before the end of the decade. UK law already controls emissions from industrial printers and other users of ink. Besides these official pressures, there are growing demands from retailers and business buyers for products that do not pollute.

But some industries complain that the cost of compliance is too high, while others argue over who should take responsibility for emissions. However, the same pressures are a spur to innovation, creating lucrative opportunities for those who can develop traditional products, such as glues, paints and inks, that do not emit VOCs. The European market for equipment that controls VOCs is set to double to Dollars m Pounds m a year by , according to researchers Frost and Sullivan - and this figure is purely for devices that can be bolted on to existing processes; it does not include alternatives such as solvent-free inks and paints.

It is these substitutes that are going to help hard-pressed smaller businesses like the shoe maker and bottle top manufacturer, which do not have the capital to invest in equipment that catches VOCs before they escape to the air. For many companies, these inks will be the only affordable option. The European oil industry is particularly hard hit by EC demands to reduce vapours that evaporate during the making, storage and distribution of fuels.

If the proposed second stage - now under discussion - is carried out, the industry will have to spend a further Dollars 1bn installing vapour recovery units at service stations. These devices catch emitted vapours when motorists fill their tanks. But because the petrol pump attachments are expensive and not necessarily the most efficient solution, the oil industry wants car makers to fit carbon canisters to petrol tanks.

Shell UK estimates that vapour recovery devices on the forecourt would capture about three quarters of the VOCs emitted when motorists fill up, while canisters would collect more than 95 per cent. The carbon is regenerated when captured VOCs are drawn into the engine and burnt. The car industry does not want to fit these canisters because of the cost. And the EC does not favour the solution because it would take too long - about 10 years before all cars were fitted.

The oil industry argues that its operations contribute only small amounts to industry's overall VOC emissions. Furthermore, most problems with fuels arise when vehicles are used, through unburnt fuel in exhaust fumes and evaporation from petrol tanks and fuel lines. But the oil industry is looking seriously at ways to prevent vapours from escaping during distribution.

BP researchers have produced one of the more innovative solutions by adapting the idea of the wine box. A collapsible plastic bag is placed inside storage tanks and road tankers. The fuel is sealed in the bag and is never exposed to the air at any stage during distribution.

Trials have been promising, but the technology is expensive and BP has not decided yet how it will be used. Although technologies designed to prevent evaporation help save a potentially valuable product, the benefits for oil companies are few and the costs high. It is clear that all companies will have to find affordable solutions to the problem of VOCs because the pressures from both regulators and the market look set to increase.

Source Evaporating Exhaust VOC output 10 percent 25 percent The remainder is from non-automotive sources Control small carbon Three-way technology canister catalyst Reduction 90 percent 90 percent achievable Source: Shell UK TODAY the Jobs column must cast modesty aside and reveal that it has of late achieved something probably unparallelled in the history of journalism. Unfortunately, the exploit is not of the professionally acclaimed kind typified by scooping one's competitors by publishing a story before them.

My feat is rather the reverse - having another newspaper scoop me with my own material which had already been printed in this one. How it happened perhaps requires some explanation. Readers taking the UK editions of the Financial Times find this column in the Wednesday morning's paper. In the overseas editions, however, it does not appear until the Friday.

So it is possible for the London-based staff of foreign newspapers to pick up something I've printed here on a Wednesday, and have their report on it appear in their home country on the Thursday morning, a day ahead of my arrival there. Such was actually done not long ago, it seems, by a Japanese reporter who further complicated the issue by stating that the data in question had been in 'yesterday's' FT. Hence several people unable to find the item telephoned to inquire, only to be still more mystified by being told that for 'yesterday' they should read 'tomorrow'.

I tell you all that as an apologetic explanation about the table alongside, containing the latest 'update' of this column's indicators of world-wide living costs. As before, the figures have been kindly supplied by the P-E International management consultancy which has like data on cities. For each city, my table gives three sets of figures. The first is its cost level shown as an index based on London prices at Next is the latest official inflation rate available when P-E compiled the data.

The third is the exchange rate at which the foreign currency has been turned into sterling - which is what I'm apologising about, because numerous of the rates have a distinctly antique appearance. They are in fact those which were in force last October when the information on price levels was collected. That in itself matters little because the prices move only slowly. But the opposite has lately applied to exchange rates which, since they affect the cost-index figures, means that most of the indices in the table are antiques too.

Although I've tried to bring them up to date, it hasn't been practicable. It turns out that the only source from which I can get all the rates required is the FT Guide to World Currencies which is published on a Tuesday. And for reasons too tediously complicated to mention, I could not do the updating in time to meet the deadline for this column's appearance in the UK editions on Wednesday morning. Now, while that might seem a fair excuse to readers taking those editions, it would hardly do so to people overseas who don't see my efforts until Friday.

They might well think I was being unduly lazy. So I decided to explain about the dual publication days in the hope of persuading them differently. Fortunately, despite the snags, the cost-index figures can still be useful. The price data on which they are based should continue to be a tolerable guide to reality until April or so, and the indices can be updated for currency market changes by a simple calculation. Just take the exchange rate in the table, divide it by the rate currently in force, and multiply the result by the table's index figure.

Moreover, there is a bit of added compensation. As usual, because of technical difficulties the living-cost indices exclude outlays on housing. But today I can also shed some light on those outlays, thanks to international consultancy Hamptons Relocation. It keeps check on rentals paid by expatriates in 27 countries, and here are its figures for average rentals in 15 anyone wanting more data should contact Anita Saunders at Cherry Orchard North, Kembrey Park, Swindon, Wilts SN2 6BL; tel 0 , fax 0 The rent relates to a three-bedroomed unfurnished apartment in a typical expatriate dwelling area, close to international schools.

London examples include Richmond as well as central parts such as Kensington and Chelsea. Exchange rates are as at last Friday. Thailand, Bangkok Indonesia, Jakarta Portugal, Lisbon Women will always look for consensus, while men try to divide and rule.

A woman will say: 'These are the ways we can solve the problem - how many people can we get to agree with it? The study, conducted by headhunters Spencer Stuart, asks why so few women occupy top management positions, examining en route perceptions of leadership qualities. It concludes that the stereotype of male and female ways of managing - typified by the personnel manager quoted - flatters because it ascribes to women an exceptional degree of generosity and humility.

This is damaging because it conceals differences among women and forms what is called The New Mythology. Old, politically incorrect assumptions are replaced with others just as inaccurate and unreliable, argues Spencer Stuart. It is common now to hear companies being urged to take on what are typified as superior 'female' management skills.

The New Mythology sees the female management style as the most appropriate and effective in the modern corporation - less hierarchical than the male, more intuitive and open to change, more participative and, above all, more likely to encourage employees at every level to flourish. Where exactly do these new stereotypes come from, given that almost anybody who has experienced a range of female managers at work will easily be able to picture at least one who will pull rank and bark orders along with the worst of her male colleagues?

Beverly Alimo-Metcalfe, senior lecturer in organisational psychology at the University of Leeds, is one strong advocate of what are seen as essentially female management skills. She acknowledges the dangers of making new stereotypes but believes that 'the most successful styles of leadership are more closely associated with women than men'.

This suggested women were more likely to employ what is called in the jargon a 'transformational' style of leadership; the men were more likely to be 'transactional' leaders. The difference between the two styles, as reported by Rosener, is supposedly this: 'transactional' leaders see job performance as a series of transactions with subordinates; they exchange rewards for services rendered or punishment for inadequate performance.

They are more likely to use charisma, interpersonal skills and personal contacts to get what they want; transactionals are more likely to use their status in the organisation. Alimo-Metcalfe also points to US case studies of organisations that had been in trouble but were then revitalised, where a common ingredient was the presence of a transformational leader. Her worry is that companies are failing to recruit and promote transformational leaders.

Assessment centres run tests with a built-in bias in favour of the transactional style and therefore discriminate against women, she says. One flaw in Rosener's research, according to Cynthia Fuchs Epstein, New York City University professor, is that men and women were not observed at work, but were asked, instead, to describe their own management styles.

Fuchs Epstein quotes the example from her own research on women attorneys of the 'lawyer who described her style as 'caring' but who was characterised as a barracuda by a male associate'. George Bain, principal of the London Business School, has himself been a participant in a controlled experiment aimed at identifying differences between male and female management styles. Commissioned by the now-defunct Business magazine, the battery of tests conducted on a self-selected group of male and female managers led to the conclusion that 'men and women executives have more talents in common than most people imagine,' but also threw up significant differences: women paid more attention to detail and men were more competitive; perhaps more surprisingly, given The New Mythology, women were found to be less democratic.

But Bain is sceptical. There are greater differences between the way one man manages and another man manages than there are between men and women as groups,' he says. Even overwhelming empirical evidence would leave him suspicious. A new breed is stalking the top branches of British higher education: the headhunted vice-chancellor. It was Saxton Bampfylde, the executive recruitment agency, that attracted him south, and made him only the second head of a 'new' university former polytechnic to hail from one of the 'old' variety.

It was not fear of stepping into Baroness Perry's capacious shoes; still less ignorance of the polytechnic sector. Bernbaum sets particular store by the latter. As with most recruitment agencies, Saxton Bampfylde's bread and butter still comes from the City. But it sees education and the public sector as a growing business. It has also been in on the selection of two heads of Oxford colleges, and it is pitching for other posts at vice-chancellor level.

Saxton's services do not come cheap - around a third of the appointee's first-year salary plus expenses. But, says Gavin Mackenzie, a fellow of Jesus College, Cambridge, on secondment to Saxton as a consultant: 'This market is bound to grow further, especially as universities realise that it is not only career academics that make excellent vice-chancellors.

By implication, next time South Bank could end up with, say, the marketing manager of Unilever. In fact, it was prepared to this time: it wanted candidates from outside the university world, and its shortlist included private sector executives. One made it to the final shortlist of three. Why, then, are there so few higher education institutions with heads from outside academe? Senior civil servants and diplomats have long adorned Oxbridge lodgings; but Derek Roberts, deputy managing director of GEC until becoming provost of University College, London, in , is almost alone in moving from a senior industrial post.

Remuneration may have something to do with it. But of late the governing councils of the new universities have shown remarkable generosity to their vice-chancellors, despite the depressed state of academic pay generally. Nearly-three-figure salaries are now not uncommon. A more serious obstacle appears to be the cultural divide. Though headhunters have sometimes made a difference to the individual appointed, none of the universities or Oxbridge colleges employing them has yet gone for a type of person they would not have chosen on their own.

All, however, is not bleak for the bored banker. Saxton Bampfylde has just been retained to find a new director general for the Royal Horticultural Society. Pounds 60, a year; car and benefits; interest in flowers desirable. The late s surge in Tokyo stock prices and corporate profits was also a time of opportunity for Japanese women.

Mariko Mitsui was leader of the largest opposition party, and strong career-minded women were fashionable advertising props. There was even debate about the introduction of a new fast-track for women in big companies. Female fortunes, however, have taken a tumble with the economic downturn - a change best illustrated by the fate of Mitsui, now an ex-member of the Social Democratic Party.

A couple of years ago she represented a new era, but is now a symbol of the enduring discrimination against women. Although as a member of the Tokyo Metropolitan Assembly, Mitsui set up the city's sexual harassment complaints office and stopped the metropolitan government from financially supporting beauty contests, she was criticised by male party members for her feminist views, and has even been a target for sexual harassment by a fellow council member.

Most Japanese companies claim that women employees, on the same career track as men, receive equal opportunities. But one reason to doubt their commitment is recent evidence that they are becoming less willing to hire female graduates. Another is the small impact of the 'sogoshoku' - a career track launched by image-conscious companies in which was supposed to give women the same promotion chances as men.

In practice, however, in addition to the rigid corporate hierarchy, female employees find that they are bound by the unspoken cultural roles required of Japanese women. A study of office practices in 1, companies by Recruit Research indicated that If a client comes and the secretary is unavailable, a women rather than a man is required to make and serve tea.

Recruit also found that only Corporate managers blame female employees' failure to justify the costs of training. The low figure indicates the barrier may have more to do with unchanging attitudes towards professional women. Mitsui says of Japanese men: 'They're just not brought up to think that women can be partners or rivals. THE proposals were greeted by commuters yesterday with a mixture of resignation, frustration and confusion. At London's Fenchurch Street station most passengers said they would accept privatisation if it entailed a better service.

Other passengers said the areas that needed improvement and investment were the quality of rolling stock and punctuality. Like many others, though, she admitted that she 'hadn't much clue' about what a franchise actually was. I don't think that privatisation is good for the public when it's heavily weighted against the public. A succession of Conservative MPs expressed misgivings about the government's plans, as the Railways Bill received its second Commons reading with a majority of 33 votes to Sir John said the withholding of a 'key' government document on fare control policy meant he was 'effectively asked to sign a blank cheque on my constituents' chequebooks'.

The 'underlying pressure on fares for this privatisation are very firmly in the upward category,' he added. Mr Adley charged the government with 'breaking up a national railway system and creating a vacuum'. Expressions of Tory concern started during the opening speech by Mr John MacGregor, the transport secretary. He repeatedly gave way to his backbench colleagues, including three former ministers. Mr David Howell, the former cabinet minister, and Mr Timothy Renton, former arts minister, similarly highlighted concerns felt by commuters in their constituencies of Guildford and Mid Sussex.

Mr George Walden, Tory MP for Buckingham, said there was 'a particular scepticism' towards the government's plans for the railways among people 'not normally opposed to privatisation'. He added: 'They are saying: 'Anyone can run a line; what we need is someone to run the railway'. Mr MacGregor said he did not see why privatisation should lead to reduced rail services and suggested the new regime would have 'less bureaucratic elements' than the present system.

He pledged controls on railway operators' freedom to increase fares in some areas 'for example on London commuter services'. But he declined a Labour invitation to guarantee that national network rail cards for the elderly and for young people would continue. There was no statutory obligation on British Rail to do so, he said. Mr John Prescott, shadow transport secretary, said it was 'not proven' that the changes proposed by the government were for the better. He added: 'A publicly owned system can provide a better rail service than a privately owned one.

Mr Prescott called for immediate implementation of government proposals to encourage a shift among freight users from road to rail. There have been fears that privatisation would not only continue, but accelerate this process. Yesterday, however, the government acted to sweeten the privatisation pill with a package of measures aimed at making the railways more attractive for freight.

One of the main reasons for the recent switch away from rail has been the imposition of big increases in railfreight charges as part of an attempt by British Rail to get its freight operations into profit in readiness for privatisation. Under the new proposals, would-be private-sector freight train operators will start by negotiating a fee for the use of the tracks with Railtrack, the state-owned body that will own them.

This will be a commercial negotiation based on what the train operator can afford. Railtrack's bottom price will be the marginal extra costs it incurs as a result of allowing a particular freight train to run on its tracks. Clearly it could not drop below that price without incurring a loss. But if the freight-train operator cannot afford even that price, and would otherwise send its freight by road, the government will be prepared to intervene by paying grants to the freight-train operator of up to per cent of the track charges - in other words, giving it a completely free ride on the tracks.

In addition, the government is planning to extend the existing freight facilities grants scheme, which allows the private sector to claim modest capital grants against the cost of building freight facilities such as private sidings. In future it will also be allowable against the cost of rolling stock. The government is also to open consultations on increasing the maximum allowable weight of lorries used in combined transport operations - that is, those using lorry trailers that load on to rail wagons for the long-distance part of their journeys.

The limit would go up from 38 tonnes to 44 tonnes. Mr Mike Harvey, spokesman for the Freight on Rail group, which represents investors in the sector, welcomed Mr MacGregor's announcement as a 'major positive move' to increase freight on rail.

I have to assume that the messages have been getting through. By restricting it the way he has, he is almost penalising industry. Mr Philip Snowden, managing director of Badger Rail, a division of the bus operators Badgerline, which is likely to be interested in the Great Western InterCity line, said: 'We are a bit disappointed that he has restated the very distinct separation of the authority over the track from the railway operations.

He said operation of the track was an important part of the overall service provided to passengers. But the separation of track and operations was described as 'encouraging' by Mr Kenneth Irvine, rail privatisation project manager for British Bus, which is likely to bid for the South West division of Network SouthEast and the Gatwick Express service.

Mr Keith Taylor, managing director of National Express, the coach operator, said: 'I welcome the process he has adopted, because it will give franchisees an opportunity to see what these businesses can produce. At least, those prepared to pay for the privilege. Baroness Thatcher was at the Palace of Westminster yesterday to help launch Dial For Democracy - a telephone referendum on the Maastricht treaty.

The idea is to give eligible voters the chance to express a view by dialling one of two numbers. Backers of the exercise hope both to build up a picture of how the British electorate would vote and to increase pressure on the government for a referendum.

The former prime minister was one of seven cross-party Commons and Lords representatives who hosted yesterday's launch. In serious if belligerent form, Lady Thatcher interspersed the usual arguments deployed by referendum proponents with more characteristically stentorian calls to arms. One newspaper has already agreed to do so and that is The Sun. The organisers' intention is that the poll will be non-profit-making, with proceeds from the telephone calls used to minimise instances of improper, under-age or multiple voting.

The organisers say lines will remain open for at least a month. Yesterday's event culminated with Lady Thatcher appearing to cast the first vote of the poll using a pristine white telephone provided expressly for the purpose. On later inspection, the telephone appeared to be dead, so she will presumably have to phone again to record her vote. If she does she will of course have to pay; subsequent experimentation revealed that calls last for two minutes and 35 seconds.

They are billed at 48p per minute outside cheap rates. LABOUR and Liberal Democrats yesterday called for the channelling of extra resources into healthcare in London, signalling opposition to any early move by the government to implement the Tomlinson report on streamlining the capital's hospitals. As Downing Street confirmed the Cabinet will not discuss Sir Bernard Tomlinson's conclusions this week, the two opposition parties rejected his claim that there are too many beds in London.

Labour said that up to Pounds 1bn would be needed to implement the changes proposed by Tomlinson - even before any extra spending on primary healthcare. The Liberal Democrats said that unless adequate funding to improve community and primary services was available before hospitals are closed, Londoners would be worse off than before. The response of Mrs Virginia Bottomley, the health secretary, should indicate how she will act. But ministers are anxious to ensure there is sufficient consultation before decisions are implemented.

Mr David Blunkett, Labour's health spokesman, said the government may avoid a 'direct approach' because of the cost and the political upheaval involved and instead try, 'to achieve bed reductions and hospital closures by stealth rather than by an honest and open frontal attack'. He added: 'There is a desperate need for a fuller assessment of the needs of London and how to face the challenges ahead'. He suggested suspending the internal market and investing in a 'dramatic improvement' in primary and community services.

Londoners should be involved 'in a consensus approach to developing a more sensitive and appropriate service for the years ahead', Mr Blunkett said. THE government's ability to abolish the Potato Marketing Scheme was limited yesterday when a cross-party alliance of peers twice voted against the government's advice. The Lords voted by to for a move seeking to protect the scheme if the government chooses to abolish it in advance of an impending EC declaration on its conformance with community rules.

They then accepted, by to , an amendment which would require a poll of registered producers before the Potato Marketing Board could apply to ministers for approval of a successor scheme. The agriculture bill has now completed its passage through the Lords, and will come before MPs shortly when ministers will have to decide whether to reverse these defeats.

Mrs Ann Taylor, shadow education secretary, disputed Mr Patten's assertion that pilot tests for stage three English had been carried out in more than schools. She said: 'The tests have actually been piloted in only 32 schools involving the wrong age of pupils - 15 year olds and not 14 year olds. Mr Patten replied that careful preparations for the tests had taken place over a longer period than for any other public examination. There are over 4m adult illiterates in Britain and this made critical the establishment of a bench mark against which improved performance could be judged, he said.

AN apology by the New Statesman and Society for repeating unfounded allegations about his private life could pave the way for Mr John Major to drop his legal action against the magazine. Ministerial colleagues suggested last night that the prime minister is ready to withdraw his libel writ against the magazine if a retraction expected in this week's edition is given equal prominence to the original article. An unconditional apology - along with payment of legal costs - was also likely to persuade Ms Clare Latimer, the owner of a North London catering company, to drop her parallel action against the New Statesman.

Downing Street refused to comment on the case, but Mr Major's colleagues said that he had no interest in seeking punitive damages from the magazine. The prime minister will be in Washington on February 24 and is expected to talk about a range of international issues, although no agenda has yet been drafted. Areas of contention could include: Bosnia, where the US has been pushing harder for greater military involvement; world trade; and general relations between the two countries.

Mr Major will be anxious for his relationship with President Clinton to be seen as friendly and the White House's decision to invite him ahead of other European Community leader is a boost. Conservative party links with the Republican party have threatened to sour relations.

More recently, the UK government has also been, at best, lukewarm about suggestions raised in Washington for reform of the United Nations' security council, of which Britain is a member. THE main effect of yesterday's announcements on the privatisation of British Rail is that the private sector is likely to be operating most of the passenger trains between London and south-west England and all those in Scotland by the end of next year. The government's plans involve putting BR's tracks into the ownership of a new state-owned body called Railtrack and parcelling out the operation of the passenger trains to private-sector franchisees by competitive tender.

To give would-be franchisees an idea of what they might be letting themselves in for, the government will set up seven pilot franchises that will be split from the rest of the railway this year and run autonomously by BR managers. These franchises will not necessarily be the first to be contracted out to the private sector, but because they will be in a better state of readiness than the rest it is assumed they will be prime candidates.

Network SouthEast's south-western division operating out of London Waterloo. Turnover: Pounds m. Turnover: Pounds 56m. The Isle of Wight railway which, unusually, will be franchised along with its tracks. Turnover: not available. Mr John MacGregor, transport secretary, said yesterday that a complete map of proposed franchise areas covering the rest of the network would be published later this year.

In an attempt to make the franchising process as simple as possible, would-be franchisees will not be involved in complex negotiations over train services and track charges. Instead, the franchising authority will work these out with Railtrack and then put the resulting deal out to tender. All that companies will be required to do is to look at the deal and say how much they are prepared to bid to run the service under the terms agreed. If they reckon it will run at a loss as most will , they will bid according to the amount of subsidy they require.

Under the new proposals would-be private-sector freight train operators will start by negotiating a fee for the use of the tracks with Railtrack, the state-owned body that will own them. This will be a commercial negotiation based on what the train operator can afford to pay.

In future, it will also be allowable against the cost of rolling stock. Although these measures may stem the loss of freight from rail to road, they seem unlikely to do much more. Before paying any grants, the government will need to be persuaded that they are justified by the environmental benefits they bring.

Furthermore, the success of the scheme will depend on the total level of grant available in any given year. The government was not saying yesterday how much the annual grant would be. But some indication of what might be needed may be gained from the existing freight facilities grants scheme.

This provides capital grants to encourage the private sector to build railfreight facilities. At just Pounds 6m a year, it appears to have at best a limited effect on keeping freight on the rails. As in past years, there are daily reports - yesterday from Birmingham - of imminent and massive cuts in services and staff, blamed on government spending caps and inadequate Treasury largesse.

With capping far tighter this year than last, the reports could turn into reality when budgets are finalised next month. But this year's budget round is novel for the degree of ill-feeling between councils over the criteria used for sharing out Treasury grants. Government grants, and capping levels for total spending by each authority, are based on 'standard spending assessments' SSAs , calculated each year, which is the Environment Department's view of the spending needed 'to provide a standard level of service consistent with its view of the appropriate amount of expenditure for all authorities.

It is the way it does so that is causing the fuss. A particular source of grievance this year is the so-called 'area cost adjustment' ACA , which is supposed to compensate councils in the south-east for higher than average wage costs. But authorities further north say it is an unfair device for siphoning funds to areas that are already cash rich. Mr Bruce Stevenson, chief executive of Labour-controlled Cleveland, says the ACA 'has in effect become a redistributive mechanism moving sums of money from the rest of the world into the south-east.

He claimed that if ACA distributed resources fairly his council would be Pounds 5m better off - equal to a reduction of Pounds 31 in average council tax bills. Though the county, in which no party has overall control, has a Labour administration, the lobby includes Tory-controlled Hereford and Worcester.

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