Cassani to leave Jurys

BARBARA CASSANI is to step down as chairman of Jurys Inns, the hotel chain, after less than two years in the job. Cassani, who rose to prominence as chief executive of the low-cost airline Go, and subsequently as chairman of the London 2012 Olympics bid, was made executive chairman of Jurys in April 2008 after it was bought by Quinlan Private, an Irish investment group.

Cassani will be replaced as chairman by Brian Collie, the former BAA director, who is already on the hotel chain’s board.

Rail group under fire

LORD ADONIS, the transport secretary, has warned that National Express could still lose its two remaining rail businesses. Yesterday, the state took control of its east coast line, which runs from London to Scotland. Adonis said he had not ruled out taking back C2C and East Anglia, its other train firms, and warned it was unlikely the group would win another franchise. National Express last week asked investors to back a £360m cash call.

City move by Halabi

SIMON HALABI has made an audacious move to try to buy back his £1 billion property empire from administrators.

The fallen tycoon is understood to have met agents at CB Richard Ellis, the property consultant advising on the sale of the portfolio, which includes Aviva Tower and Alban Gate in the City.

The properties were backed by a £1.15 billion securitised loan that went into default after property values collapsed in the credit crunch.

China deal for Rolls

ROLLS-ROYCE has landed a $1.5 billion (£900m) contract with Air China to supply engines to 20 of its Airbus aircraft. The British aero-engine maker will also service the equipment under a 10-year deal.

Separately, Rolls-Royce has won a $480m deal to provide Ethiopian Airlines with engines for its new Airbus A350 planes. Ethiopian is buying Rolls-Royce newest engine, the Trent XWB, which has already notched up 1,000 orders.

Evolution’s wealth drive

EVOLUTION GROUP is to unveil ambitious growth targets for Williams de Broë, its wealth management arm, after hiring veteran private banker Philip Howell to run the business. He will be introduced tomorrow as its new chief executive. Evolution chief executive Alex Snow has set him the target of doubling the firm’s assets under management to £10 billion over the next three years. The firm has become one of Britain’s top 10 wealth management firms since acquiring a business from collapsed Icelandic bank Kaupthing last year.

Howell was previously regional chief executive of Fortis Private Banking, which was taken over by BNP Paribas this year. Snow, who has been running Williams de Broë for three years, will now focus on his role as group chief executive. He said: “We’ve already built quite a sizeable business in this area and we’re in a good position to expand it further.”

Share joy for BT amid pensions gloom

3.7: THE percentage rise in the share price of BT, the telecoms giant, last Thursday after it raised its targets for cutting costs and generating cash.

9.4: THE deficit, in billions of pounds, of BT’s pension scheme at the end of September — despite the large rise in the stock markets.

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