CITY WHISPERS: Allera’s career ambitions put on hold at BT

The appointment of Allison Kirkby as BT’s first female chief executive was lauded by many as a decisive win for women at the top end of Britain’s corporate hierarchy.

But a big loser was Marc Allera, head of BT’s consumer arm EE, who had been touted as a likely successor to Philip Jansen, even before the latter announced his departure.

After Kirkby’s appointment, one analyst said BT would ‘struggle to keep’ Allera, with the executive thought to have previously been courted by rivals including Vodafone. 

There are also rumours he was seen as too young for the top job by some at BT. 

At 51, he is five years younger than his new boss.

Writing on the wall?: After Allison Kirkby’s appointment, one analyst said BT would ‘struggle to keep’ Marc Allera

Those close to Allera insist he is staying put and is ‘focused on the job at hand’ – seemingly content to wait a little longer for his turn at the helm. 

Given BT is set to rebrand itself fully as EE, the firm may also be wanting to avoid another boss exiting before the job is done.

Advent sees profits soar 

Private equity vulture Advent International saw its profits soar from less than £6 million to £14.7 million two years ago. 

The US group has spent the past few years gobbling up leading British defence firms Cobham and Ultra Electronics (though these deals were drawn out while the Government demanded assurances Advent wouldn’t sell all the family silver).

But the most recent accounts show profits fell slightly in 2022. 

It can be hard to sustain a stellar performance – our hearts bleed. 

CityAM transforming under THG 

After surprising many in the Square Mile with its takeover of London freesheet CityAM last month, Matt Moulding’s THG – formerly The Hut Group – is already moving to bring its founder’s brand of sensitivity to the latest addition.

Whispers hears that a post-it notes display of critical comments in the paper’s offices, affectionately known as the ‘Wall of Flame’, has been removed as part of the transition process. 

Scrubbing evidence of criticism is unsurprising given the new boss’s well-known hostility to scrutiny of his businesses and management style.

One wonders whether a video posted on LinkedIn by Moulding in April, which seemed to imply journalists were ‘lower than pond scum’, made the cut.

Watches of Switzerland boss sees bonus hit 

The boss of Watches of Switzerland, Brian Duffy, saw his bonus take a hit despite roaring demand for timepieces.

The chief executive of the Cartier and Omega seller received £3.1 million, down from £4.02 million in 2022, on top of his fixed pay of £524,000. This means his total remuneration came in at £3.6 million compared with £4.5 million the year before.

Or, as Duffy may see it, the value of his pay packet went down by the equivalent of 70 Submariner Date Rolex watches.

The blue timepieces, made from oystersteel and yellow gold, retail for £13,150 on the Watches of Switzerland website.

                                                                                                                 Contributor: Francesca Washtell 

This post first appeared on Dailymail.co.uk