City AM to launch this month

By Dominic Ponsford

A newspaper billing itself as the first to target only London’s
financial “village” launches this month with a 50-strong editorial
team.

Former
Sunday Express business editor David Parsley outlined his plans for the
new title: “City AM will be the first newspaper to exclusively serve
this village, treating readers as punters as well as professionals. We
will bring a touch of the culture of showbiz and celebrity to our
coverage of the people who make London’s financial district tick.”

The
free daily is based at London Bridge with a full-time editorial staff
of 25 and the same number again working as freelances and regular
contributors.

It has a claimed launch budget of £10m and
full-time staff of 50. The 24- page colour tabloid will have an initial
print run of 60,000 distributed in racks and by agents across the
Square Mile.

Two former executives with Metro International, the
global free daily with 57 editions in 18 countries, are in charge of
the project.

Metro’s ex-head of sales, Lawson Muncaster, is
managing director of thenew paper, while former Metro chief executive
Jens Torpe has the same role at City AM.

Parsley said: “London has a clearly defined business and financial village. The
Square Mile, Canary Wharf and other areas around Central London make up
City AM’s parish, whose residents are some of the most intelligent and
wealthy members of society.

“Our readers are the most affluent of
any British newspaper, earning almost twice the national average and
City AM will have plenty of hints on how to spend their spare cash.

“This
paper is interested in the people behind the deals, the names not
usually seen in newspaper coverage. We will celebrate our readers’
success by including as many of the business world’s dealmakers as
possible in each edition.”

City AM’s team of columnists includes
Vicki Butler-Henderson (from Channel Five motoring TV show Fifth Gear),
former FT media editor Ray Snoddy, former Daily Telegraph city editor
Richard Northedge and former Scotsman editor Alan Ruddock.

Former
Sunday Telegraph journalist Judi Bevan, author of The Rise and Fallof
Marks & Spencer, will be another regular contributor.

There
will be a sports column every day: Scottish rugby international Gavin
Hastings on a Monday, golfer Sam Torrence on a Tuesday, former England
cricketer Andy Lloyd on Wednesdays and former England footballer Trevor
Ham on a Thursday. On Fridays, Barclays equities strategist Hank Potts
will write on sport business.

City AM will also include a daily restaurant review by Richard and Peter Harden, founders of Harden’s Guide.

The
full-time editorial team includes: deputy editor Claire Oldfield
(former City news editor on the Daily Mail), reviews editor Stephen
Gilbert, chief photographer Neville Elder and chief reporter Ben
Griffiths (currently city editor on the Glasgow Herald).

The
former City editor of The Lawyer, Helen Power, will be economics
correspondent, and Dominic Midgley (formerly with the Daily Mirror and
Punch) will be associate editor, covering the Diary and features.

Reporters include Zoe Wood of Retail Week and Robin Marriott of Property Week.

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