CITY WHISPERS: De Beers hangs on to the artworks in Anglo American divorce

During the divorce of any rich couple eventually comes the crucial question: who keeps the art?

There are some some jawdropping works on display at the joint London headquarters of mining giant Anglo American and diamond group De Beers.

Just walking out of the sixth-floor toilets brings you face-to-face with one of the famous David Hockney swimming pool paintings.

So how will it be split when they part ways? Not 50-50. De Beers will keep its much bigger collection, much of which was built up in the early 20th century, while Anglo will be able to hold onto its existing assortment.

If De Beers was ever looking to raise money, might it sell some of its works? No, says boss Al Cook, who points out this type of good taste is a hallmark of the firm, telling Whispers: ‘Get rid of your history at your peril.’

And after all, he points out, with something as precious as an art collection: ‘You can only sell it once.’

‘Disturbance allowances’ for JD bosses

JD Sports is giving £330,000 in ‘disturbance allowances’ to its top two bosses to help them move for the job.

Boss Regis Schultz, who moved from Dubai to take the helm of the ‘King of Trainers’ in September 2022, is receiving £60,000 a year for three years.

And new finance chief Dominic Platt, is receiving three annual payments of £50,000, the company’s annual report revealed last week.

This is in addition to the £3.5 million being given to former executive chairman Peter Cowgill for not taking work at any of JD Sports’s competitors for two years. He’s not allowed to poach any former colleagues either.

Nice rewards if you can get them.

New focus for acquitted Lynch  

A stunning end to Mike Lynch’s trial saw the ‘British Bill Gates’ acquitted of criminal charges in the fraud case about his old firm Autonomy. 

Whispers wonders if, post-celebrating, he will focus on the £4.3 billion takeover by private equity firm Thoma Bravo of Darktrace, the firm he founded after leaving Autonomy. 

The vote is on June 18 – there’s time to say what you think, Mike!

Hales Care keen to join AIM 

Another small firm is looking to join the London stock market, Whispers hears on the grapevine.

Hales Care, which provides support for people in their own homes, is keen to join the junior AIM index over the summer.

The company, Whispers understands, reckons that a listing will help it raise money (as well as presumably its profile) and put it in a better position to snap up competitors.

At the moment it works in the East and North of England, the Midlands and Yorkshire, but it is keen to look further afield too.

Expect an announcement any day now.

It’s a tiddler, for sure, but it is always good to see some enthusiasm expressed for the London Stock Exchange.

                                                                                                                  Contributor: Emily Hawkins