Latest news with #Mayfair
Telegraph
13 minutes ago
- Business
- Telegraph
George Osborne to share in £147m payout from investment bank
George Osborne will share in a $196m (£147m) payout at Robey Warshaw after the boutique British investment bank was bought out by an American rival. The former Conservative chancellor, 54, became a partner at the Mayfair firm in 2021, joining Sir Simon Robey, Simon Warshaw and Philip Apostolides. But New York-based Evercore has revealed it is now buying their business as part of an expansion in Europe and the UK. The deal means Mr Osborne, who is also chairman of the British Museum and co-hosts a popular podcast, will receive a slice of a two-tranche payout to partners, the first in stock and the second in stock or cash. A performance-linked scheme could also trigger further payouts for the partners if they hit certain targets over the next few years. Sir Simon, 65, is the firm's senior partner and expected to receive the biggest share of the sale. He founded the advisory in 2013 under a different brand, before Mr Warshaw joined. The exact share of Mr Osborne's payout has not been disclosed and his stake in the company has never been made public. Telegraph auction The tie-up with Evercore comes after the British bank has beaten much bigger Wall Street rivals to win business from major multinational firms. Sir Simon told The Telegraph: 'It was a case of carrying on as we are as a firm of only 18 people or try to grow it. I still think there's a role for very small firms but it was the right time for us to join a bigger enterprise. 'If you're at my stage and age it's really important to work with people you like and work well with. In the US, Evercore is snapping at the heels of Goldman, et cetera. In London they tend to do mid-cap deal and we do big-cap so it's a good fit.' London is in the throes of a dealmaking slump, however, as economic gloom and fiscal uncertainty undermine corporate confidence. Meanwhile the stock market is in decline with a series of top companies migrating to New York, or considering it. Sir Simon said: 'We are not only a London firm but of course we are inextricably linked with the fortunes of London. 'Do I wish it was in a bit of a different place at the moment? Sure. But I think there's still a lot to do and it's still a great place.' Evercore hailed the firm's 'impressive client franchise and track record' and its 'reputation as a trusted adviser' to some of Europe's biggest companies, including BP, Vodafone and HSBC. Sir Simon cited Robey Warshaw's struggle to sell The Telegraph at auction last year as the biggest misstep in 13 years. The firm was engaged by the UAE media company IMI to sell the newspaper after its own attempted takeover was blocked. However the auction did not deliver a buyer able to meet the £500m reserve price, prolonging the uncertainty which has gripped The Telegraph for more than two years. IMI is now expected to become a passive minority shareholder in a takeover led by its US private equity partner RedBird Capital. Roger Altman, Evercore's founder and senior chairman, said: 'We have long admired Simon Robey and his colleagues, and their standard of excellence. 'This is a fortuitous and timely combination.' Sir Simon added: 'We and Evercore share commitments to client service, excellence, integrity and independent advice. 'We also have a shared ambition to drive further growth. Our clients will continue to get the personal attention and care we have always strived to provide. 'They will also be able to benefit from greater global reach, broad product capabilities and sector expertise.' The deal will close at the end of 2025, the announcement said. It marks another career landmark for Mr Osborne, who has landed a string of jobs since he stepped down as an MP, aged 45, in 2017. A year earlier he had been sacked as chancellor after six years in post, when Theresa May succeeded David Cameron as Tory party leader and prime minister. He now co-hosts a current affairs podcast, Political Currency, with his former Labour rival Ed Balls, who was shadow chancellor under Ed Miliband and a long-serving adviser and minister in Gordon Brown's government.
Daily Mail
5 hours ago
- Business
- Daily Mail
George Osborne eyes windfall as his investment bank is bought for £146m
George Osborne is set for a multi-million-pound payday after his boutique investment bank was snapped up by a US rival. Mayfair-based Robey Warshaw, a trusted advisor to some of Britain's biggest companies where the former Chancellor is one of five partners, has agreed to a takeover by Evercore for £146million. It is unclear how the proceeds will be split but it works out at an average of £29.2million for each partner – including Osborne. The deal marks just the latest windfall for the ex-politician since he joined the firm in 2021, as he built a new and highly lucrative career having been ousted as Chancellor following the Brexit vote. He and his fellow partners shared £30million in his first year at the company while last year profits jumped to £70million. That saw the best-paid partner – believed to be co-founder Simon Robey –handed £40.5million while the other partners including Osborne shared a pot of £29.5million. Osborne has held a number of jobs since leaving Office, including editor of the Evening Standard newspaper from 2017 to 2020. As well as being a partner at Robey Warshaw, he is currently chairman of the British Museum, where he is said to working on a possible loan of the Elgin Marbles back to Greece. Robey Warshaw was founded in 2013 by former Morgan Stanley bankers Robey and Philip Apostolides along with UBS banker Simon Warshaw. Osborne became the fourth partner in 2021 and a fifth, Chetan Singh, joined in 2024. The bank has built a reputation as a leading boardroom adviser to Britain's largest corporates over the past decade. Blue-chip clients include HSBC, BP, Vodafone and National Grid and it has worked on some of the biggest deals of recent years including the £79billion acquisition of brewer SABMiller by AB InBev, Comcast's takeover of Sky and Todd Boehley's bid for Chelsea FC. This work has brought in huge fees for the company – with the lion's share handed out to its partners. Payment from the takeover by New York-based Evercore will be in two tranches: half in Evercore shares when the deal closes and the remainder a year later in either cash or stock. 'I don't think I've ever worked with a more talented, more able banker than Simon Robey,' Evercore founder and senior chairman Roger Altman told the Financial Times. 'Discussions evolved over a very long period of time and they finally culminated in a mutual sense that this was the right thing to do.' Evercore chief executive John Weinberg said: 'Robey Warshaw brings extraordinary, long-standing relationships with some of the world's leading multinational companies. Robey said: 'Our clients will continue to get the personal attention and care we have always strived to provide. They will also be able to benefit from greater global reach, broad product capabilities and sector expertise. Evercore is the right home for all of us.'
BBC News
a day ago
- Business
- BBC News
Extension and restaurant for Vogue's former office
Vogue's former headquarters in Mayfair will be extended by two storeys and house a new restaurant on the ground floor, following planning approval. Westminster City councillors backed the proposal to retrofit the building at 1 Hanover Square, with planning chair Sara Hassan stating the plans would cause "less than substantial harm to heritage assets".The building was purpose-built for Vanity Fair and British Vogue founder Conde Nast in 1958. It was the fashion magazine's headquarters until it moved the Adelphi Building on the Strand in Stewart Piercy, who designed the proposal, said the plans would improve the building's facades and preserve its character. One objector, representing 3 Hanover Square, said the plans were "poorly devised".They said: "The proposed development represents a sizable, dominant expansion of the existing building, effectively enveloping 3 Hanover Square to the west and south."Such major change to the town space is, in our view, unwarranted and regretful and would cause a level of harm to the Mayfair conservation area that is not justified."However, the proposal was described as "well crafted" and "attractive" by a planning officer, who added that the additional height was not "necessarily harmful".Building owners Nautilina Limited said the changes were a "once-in-a-generation opportunity" to build "best-in-class" office international real estate company plans to move into the 1950s building after it has replaced the seventh floor and built a new eighth floor and rooftop approved plans include new retail space on the ground floor for a restaurant.
The Guardian
3 days ago
- Entertainment
- The Guardian
74 Duke, London W1: ‘Charming, chic and sterile ' – restaurant review
My theory on the current explosion of French-inspired dining ventures, in London and beyond, is that many restaurateurs these days feel that it's much better to have a direction – in this case, pointing at Paris – than no direction at all. Take 74 Duke, a brand new, mock-Parisian brasserie just off Oxford Street that serves filet de bœuf, tarte au citron and potent Bastille cocktails and appears to have Mayfair's mega-affluent tourist firmly in mind. It's an elegant, pseudo-Gallic, Emily in Paris-style brasserie with outdoor seating – a place to see and be seen, rather than some confusing, pan-European, small plates trendy-wendy joint. And, zut!, its rather limited menu sets out its stall pretty tout de suite, too: salade César, escalopes de veau, crevettes royale à la sauce thermidor. So, yes, 74 Duke is très French, but it is also a pricey, sterilised, movie-set version of France for diners with deep pockets and only the smallest yearning for true French cooking. Decor-wise, it is heavenly inside and out, like a sleek private jet or objet d'art showroom that opens by appointment only. It is a dreamy blur of honey-coloured leather banquettes, elegant awnings, ivory paintwork, dainty doilies on silver platters, monogrammed cutlery, pretty mahogany tables and the kindest, most diligent, white-jacketed staff. None of that is remotely Parisian, though;: not a jot. It is a charming, chic and sterile five-star Dubai beach resort-type Parisian restaurant, where all traces of the sticky-carpeted, scabby-banistered Parisian all-day diner with fractious waiters have been completely erased. Even the air-conditioned air here smells expensive – not that many customers were sitting inside on this Saturday lunchtime. Nay, table after table of Rolex-wearing, Birkin bag-clutching guests demanded the al fresco option, out there on the wild, lawless, Mad Max Beyond Thunderdome streets of London W1. While meek and cowed urchins such as myself tend to scurry quickly around Mayfair and Piccadilly, real wealth pulls up a chair, orders a 74 Duke martini and a wagyu cheeseburger, and sits back and enjoys l'air frais – or at least as frais as the air can be while bus and taxi exhausts blast their fumes over your asperges blanches à la truffe d'été. We ate nicely enough, but not memorably so. The brief lunchtime menu offers a choice of four hors d'œuvres: goat's cheese salad, breaded squid, tuna tartare and the aforementioned white asparagus. The goat's cheese salad featured a small pile of good-quality leaves in a decent vinaigrette with some inoffensive cheese on a crostini. Chopped raw tuna and avocado in a citrus dressing was similarly pretty, but without any real spin or innovation. Chefs often claim that their food's extra ingredient is 'love' and that their passion is to woo the diner, but there was little love in evidence here. Which is probably for the best, because love's a grubby business, anyway. From the grill section, we had a bavette with beurre maître d'hôtel, a rich, buttery sauce with parsley and lemon juice that was delicious, if a little lukewarm by the time it arrived. Another main of poulet Gaston Gérard was also a tiny bit on the cold side, but the tarragon and dijon sauce that came with it was outstanding. Other than that, the only really notable dish on the entire menu can be found in the accompagnements section, hidden between the salade verte and the haricots verts: namely the gratin du ravioli du Dauphiné. Does anyone really need a side portion of bubbling baked cheese ravioli to go with their paillard de saumon or crevettes royales? Probably not, but definitely order it anyway. The dessert menu is a short list of mostly pre-made items, some of which are deeply un-Parisian patisseries, including one of those multi-layered chocolate cakes that have been big on Instagram for about a year, a huge 1980s Sara Lee gateau on steroids that seems to work under the premise that no amount of chocolate ganache can be too much. Did I finish it? Yes. In fact, I set about it like a lion demolishing an antelope. Does it have any place on a French menu? Non. C'est ridicule, and I would be more sniffy about this had I not enjoyed every sticky, chocolatey mouthful. 74 Duke is a charming place to spend someone else's money should they wish to treat you to lunch within close range of Selfridge's. You can dip a toe into French-ish cuisine and you will understand the menu even if you've not spoken French since you last picked up a Tricolore textbook at comp school. C'est bon, but only bon. 74 Duke 74 Duke Street, London W1, 020-3772 7722. Open Tues-Sat, lunch noon-3pm, dinner 5.30-11pm. From about £60 a head à la carte, plus drinks and service The next episode of Grace's Comfort Eating podcast is out on Tuesday 29 July – listen to it here.
Forbes
5 days ago
- Entertainment
- Forbes
10 Of The Best Japanese Restaurants In London
London is a haven for Japanese food lovers, offering everything from Michelin-starred dining experiences to cozy izakayas and late-night noodle spots. Whether you're in Soho, Mayfair, or Knightsbridge, the city serves up a diverse range of Japanese restaurants that cater to every palate and budget. Scallops at Taku, an Omakase in Mayfair, London Taku A visit to Taku, a 16-seat Michelin star Omakase ('I'll leave it up to the chef') restaurant in Mayfair is a special experience. Brothers Geoff and Lucas Leong, who have been bringing East Asian cuisine to London for the past four decades, are behind this innovative gem. Successful ventures have proceeded Taku including Dumplings Legend in Chinatown and Koi Kensington. They're clearly doing something right at Taku having achieved a Michelin star in just four months after opening in 2023. The Head Chef Long Ng and Head Sushi Chef John Park trained under Chef Takuya (Taku) Watanabe, the founder and Chef Patron of Jin Paris, who made history by establishing the first Omakase restaurant in Paris to receive a Michelin star. The Omakase lunch at Taku is 17 courses (£180); dinner is 22 courses (£380). Wine pairing is available at an extra cost. Blue native lobster sushi and Smoked Mackerel with tomatoes and Sambaizu Jelly were highlights on recent menus. Rock Shrimp Tempura at Roka, London Rusne Draz Japanese robatayaki restaurant, Roka is celebrating 20 years since it first opened on Charlotte Street and it's no surprise that it's one of London's favorite Japanese restaurants. The presentation, service and food is indeed stellar. Deservedly popular dishes include: salmon tataki with shiso yuzu chilli dressing; yellowtail maki with chives and miso aioli; grilled pork belly with hoisin and pickled apple and for dessert, peanut, vanilla and chocolate sundae with poki sticks and banana tempura. Bar Des Prés, Mayfair Bar Des Prés Looking more like a chic Parisian bistro than a Japanese restaurant, Bar Des Prés is probably one of the best kept secrets in London for excellent sushi. As Chef Cyril Lignac's first venture outside of Paris, the restaurant has an eclectic French/Asian menu. Sushi choices are extensive and deliciouswith newly introduced seasonal crispy maki rolls. Chef Lignac is owner and chef of Le Quinzième (1 Michelin star), Le Chardenoux , a Parisian bistro located and two pastry shops. Jang in the Royal Exchange, the City, London Jang East Asian restaurant Jang has a 1920s glamor with a lavish interior and views over the stunning courtyard of the Royal Exchange. Each piece of delicate nigiri, maki and sashimi is meticulously prepared. The Head chef, Dana Choi is actually Korean so she has also introduced dishes from her home country. With extensive experience in both Michelin-star and renowned Korean restaurants in London, including her most recent roles at Jinjuu with Judy Joo and as Executive Chef at Seoul Bird, Chef Choi brings a wealth of expertise to her craft. Her creations offer a contemporary twist on traditional dishes, expertly balancing textures and flavors to evoke the essence of both Korean and Japanese cuisines. Mayfair Niju, Mayfair, London Niju One of 2024's top London openings, NIJŪ offers guests a decadent Japanese dining experience. Under the guidance of third-generation sushi master Chef Endo Kazutoshi, NIJŪ's skilled chefs offer Japanese home-cooked dining through its Katei Ryōri concept, creating traditional Japanese dishes with the finest ingredients. finest grade Sushi, Nigiri, Sashimi, and the best selection of Wagyu and Kobe beef prepared on the Konro grill. By Taku, Hampstead Ine, Hampstead, London Ine From the team behind Michelin-starred Taku Mayfair is the wonderful Ine Omakase restaurant in Hampstead. Ine, meaning rice in Japanese, offers premium sushi, a contemporary Japanese a la carte menu and a 15-course Omakase menu, with specialty sakes and wines. Highlights from the a la carte menu include: lobster with cauliflower and sudachi jelly; grilled Iberico pork; Wagyu beef katsu sando and grilled Yuan chicken. Available on both the omakase and a la carte menus is daily changing, fresh sashimi including Toro, Akami, Hamachi, Salmon and Saba. The chic, minimalist design complements the well-thought out menus. by Endo, OWO, Whitehall Kioku Restaurant Bar at OWO, London OWO Chef Endo Kazutoshi's takeover of a corner of the former Old War Office (OWO), now a Raffles hotel, is one of the best aspects of this spectacular hotel. Kioku by Endo includes a cute sake bar that just launched a wonderful 'standing sushi' experience. Apparently this is a tradition that goes back to the Edo Period. The exquisite ten-course standing menu was created by Executive Chef George Gkoregias and Head Sushi Chef Shibata Takehito. Food is complemented by drinks from the Kioku Sake Bar, which has the largest sake list in the capital. Upstairs, Chef Kazutoshi's lovely restaurant serves a menu that includes the chef's signature Nigiri and Sashimi, alongside a selection of seasonal dishes like Ox cheek agnolotti, white crab, tagliolini, brown crab miso and shiso butter and a miso kasutādo French toast. The restaurant has a wonderful outdoor terrace with great views over London and a really special private dining room in one of the rooftop turrets. Kanesaka, Mayfair at 45 Park Lane 45 Park Lane Another Michelin-starred Japanese restaurant is Sushi Kanesaka at 45 Park Lane hotel. The intimate and traditional 13-seat Omakase restaurant by Chef, Shinji Kanesaka (of Tokyo's two Michelin starred Sushi Kanesaka) is one of London's hottest tickets so do book in advance. Accessed through a discrete doorway beside the bar this is Omakase dining at its finest. Soho Himi, Soho Himi At Himi, husband-and-wife chef duo Tamas and Tomoko offer their homage to the drinking and dining dens of Tokyo and Osaka. Menus change seasonally and feature classic Izakaya dishes recreated with local ingredients. Expect favorites like kara-age, tempura, salads and ochazuke. Food is served Izakaya-style—designed for sharing and enjoying with your dining companions. Mayfair Pirana, Mayfair, London Pirana This slick Mayfair establishment has a nightclub vibe, thanks to its opulent interiors and live DJs. The party atmosphere at Pirana is just a backdrop for the main act though, an excellent Japanese/Peruvian fusion (Nikkei) menu. Menu highlights include rock shrimp tempura; spicy tuna aji panca; and sashimi that includes salmon, seabass and yellowtail.
