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However, when Pfizer, the world's largest pharmaceutical company, promoted Scottish-born Ian C Read to its top job, it's arguable that Witty lost the distinction. Unlike Witty, who also spent some of his career in the US, Read now has US citizenship.

The move caps a steady but remarkable ascent for Read, who joined Pfizer four years after graduating with a science degree from Imperial College in London in 1974. He also qualified as a chartered accountant. Pfizer's shareholders, who have had to stomach a 35pc decline in the company's share price over the past four years, will want to know how Read can blend spreadsheets and science into a brew that puts the share price back on track.

Being described as someone with a long relationship with drugs is not usually a compliment, but the analysts covering Pfizer seized on his experience as a virtue. "I think Ian will be able to talk more deeply and coherently about Pfizer given his many years of experience and his long background in the drug industry," said Tim Anderson, at Sanford C Bernstein.

Read will need to be able to communicate with the analysts: next year Pfizer loses patent protection in the US on its blockbuster Lipitor; it is still integrating its acquisition of rival Wyeth last year, and a robust recovery in developed economies remains far from guaranteed.

As well as being two of the most powerful men in the industry, the careers of Read and Witty have taken them to the growing markets that both companies need to find customers in.

For Witty, it was Africa and Asia. Read's odyssey took him to Mexico, Brazil and then Europe. It's something that Pfizer's board used to explain the promotion of Read, who for the past four years has run the company's global biopharmaceuticals business, which generates 85pc of sales and employs 40,000 people. If he can pull off further expansion in markets such as China, the board's reasoning is likely to be warmly welcomed.

And the 55 year-old takes the helm with his eyes wide open about the non-stop demands of the job. He only needs ask his predecessor.

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Assets, including Dartford crossing are supposed to be sold and it was believed that a wave of government offices follow

Speaking at the inaugural Summit of public property yesterday, John McCready, said: "we are not very keen on sales at the present time." Why? Simply because the market outside of London is not enough fort.Nous obligation to return reasonable prices for taxpayers.?

Mr. McCready comments are a surprise given the budget deficit in the United Kingdom and the Lord Carter conclusions in a report of the year last trends ￡ could be raised in the next decade from the sale of the propriété.Actifs which one high-speed Dartford crossing are supposed to be sold, and thought that follow a wave of government offices.

However, Mr. McCready, which belongs to Francis Maude, Cabinet Office Minister, said that, while some elements of active "non-core" could be unloaded, its focus is on "reduction of operating costs.

At the heart of its strategy, unveiled, comprehensive spending review a five year moratorium on new contracts for rental and introduction of Central vehicles to manage succession in London and Bristol.

The officer was appointed in January of Ernst & Young to direct property unit of the shareholder Executive, he put in charge of a portfolio of property, value of ￡ 370bn and costs ￡ will be a year to run.

There were concerns that drive austerity measures by the Government, which varies from offices property portfolio in hospitals, prisons can flood real regional markets already fragile assets and prices to collapse.

However, Mr. McCready said yesterday: "I am not a big supporter of received capital of deferred revenues dépenses.Un best time to make sales is when the deficit under control and we turn our mind to debt reduction."

"We must be aware that the Government will be around for many years to venir.Nous do not want to dispose of assets we need basic future fleet said well, there are assets that we sell, but these will be non-essential or cost of their operations beyond their valeur.Nous will be sell in order to reduce costs."

The Government hopes to attract the participation of the private sector in its vehicles and wants real estate companies to develop new "models of occupation" which will provide offices for the future.

Mr. McCready hopes that the Government offices could anchor the multi-purpose developments, but warned that private financing initiatives must be reconsidered.

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Mr. Benstead criminality is likely to raise questions about the role of the Financial Services Authority, the failure of state changes.

Although the company wasn't FSA regulated, it has been saved to the FSA by its holding company, owned by the Crown, something that was displayed prominently on our Web site.

According to administrators RCM, the FSA is now that he did not regulate the State she worked as a small institution payment currency.

However, one of the conditions for operating an SPI is that no individual, management of the business has been convicted of offences relating to money laundering of terrorist financing or other financial crimes.

Both Mr. Benstead and, more recently, his son-in-law and former State employee motto, Roderick Schmidt, were sentenced in financial crimes.

Mr. Schmidt was sentenced to 21 months in prison in may for stealing and 55,000 ￡ of charity which he worked .c ' is not clear if he worked for the currency of the State at the same time step.

Offence can be traced back Mr. Benstead, 1980, while he was a Director of a company called Max Glen.Lui and his business partner, were charged with flight "pimping execution of valuable coverage by deception."

Security was a letter of credit of ￡ 90 000 to be used to provide 10 000 cartridges whisky Johnnie Walker Black Label.échec M. Benstead calling.

An action group led by Joanne Struyk, on behalf of the creditor, in the currency of the State appealed to the FSA to take more responsibility for the collapse of the company.

"I don't understand the FSA perspective if they were not responsible for the company why let them put their logo on its web page?", she asked.

Banking company, Barclays, who suspected that company was experiencing financial difficulties four months before he does it administration, has also been under the spotlight on the potential liability of the collapse.

View the original article here

Mr. Benstead criminality is likely to raise questions about the role of the Financial Services Authority, the failure of state changes.

Although the company wasn't FSA regulated, it has been saved to the FSA by its holding company, owned by the Crown, something that was displayed prominently on our Web site.

According to administrators RCM, the FSA is now that he did not regulate the currency of the State she worked as a small settlement of payment.

However, one of the conditions for operating an SPI is that no individual, management of the business has been convicted of offences relating to money laundering of terrorist financing or other financial crimes.

Both Mr. Benstead and, more recently, his son-in-law and former State employee motto, Roderick Schmidt, were sentenced in financial crimes.

Mr. Schmidt was sentenced to 21 months in prison in may for stealing and 55,000 ￡ of charity which he worked .c ' is not clear if he worked for the currency of the State at the same time step.

Offence can be traced back Mr. Benstead, 1980, while he was a Director of a company called Max Glen.Lui and his business partner, were charged with flight "pimping execution of valuable coverage by deception."

Security was a letter of credit of ￡ 90 000 to be used to provide 10 000 cartridges whisky Johnnie Walker Black Label.échec M. Benstead calling.

An action group led by Joanne Struyk, on behalf of the creditor, in the currency of the State appealed to the FSA to take more responsibility for the collapse of the company.

"I don't understand the FSA perspective if they were not responsible for the company why let them put their logo on its web page?", she asked.

Banking company, Barclays, who suspected that company was experiencing financial difficulties four months before he does it administration, has also been under the spotlight on the potential liability of the collapse.

View the original article here