City Spy: Centrica’s new broom turns on the heat early

Centrica’s new boss Iain Conn, brought in from BP to replace retiring Sam Laidlaw, doesn’t officially start his job until January but he’s already practically moved into the owner of British Gas’s HQ.

A toasty mole at the energy giant reports that Conn, who moved from the US to take on the job for a pay package worth up to £3.7 million a year, is in Centrica’s offices almost daily. And the staff there aren’t too happy about it...

Criticism abounds of Conn’s micro-managing and sniping, with a few executives saying they miss the more laid-back style of old Etonian Laidlaw, famous for his two swimming pools that cost more to heat than the average home... who hasn’t even left yet.

Financial PR Redleaf Polhill touted its “tech showcase”, held yesterday, for almost a month — promising presentations from “six of the most interesting plays to present and answer your questions”. Among them? None other than crisis-hit Quindell, which at various times has presented itself as a technology company, an insurance outsourcer and even the world’s largest listed law firm.

But when the final agenda was confirmed this week, Quindell was nowhere to be seen. Redleaf has resigned as its PR adviser. After the month that investors have had — shares are down by two-thirds — City Spy is sure there would have been plenty of questions for this “interesting play”.

O2 chief executive Ronan Dunne has been in charge of the mobile phones firm for almost seven years so he must have made a few bob, but he isn’t tempted to follow fellow telecoms boss Ian Livingston, formerly of BT, into government.

“I couldn’t think of anything I’d like to do less,” said Dunne at an O2 dinner for the media at the Berners Tavern, joking he would only consider it if “someone hit me over the head”. The Irish-born boss has to mix with politicians and is a lot keener on Culture and Media Secretary Sajid Javid, formerly of Deutsche Bank, than the unlamented previous incumbent Maria Miller.

“We’ve certainly seen the Secretary of State more in a few weeks than his predecessor over a period of time,” said Dunne, showing he knows how to hit someone over the head, metaphorically speaking...

Farewell to one of the Square Mile’s best-loved drinking establishments, the City Flogger, which called last orders for the final time this week.

The pub, just off Fenchurch Street, opened its doors in 1978 and became a favourite with Lloyd’s underwriters. Alas the City Flogger has been forced to close due to redevelopment in the area.

“If its walls could talk, they’d be able to tell you a few stories,” quips one regular ruddy-faced drinker, who knows what those Lloyd’s insurance brokers got up to when they were in the Flogger...

At least one media company is keeping Fleet Street alive as a haunt of journalists rather than just bankers.

Euromoney Institutional Investor is consolidating its office space by moving from various scattered locations to a single site in Bouverie Street, a former home of The Sun and former mighty titles such as the News of the World and the News Chronicle.

The move will cost Euromoney an extra £2 million a year, but it should pocket about £10 million from selling some of its other offices.