IoD appoints former Labour MP Kitty Ussher as new chief economist September 2, 2021 The Institute of Directors has named former Labour MP Kitty Ussher as its new chief economist, the organisation announced today. Ussher has vast experience in providing macroeconomic and public policy advice, serving as the chief economic adviser to the cross-party think tank, Demos, and economic secretary to the Treasury during the financial crisis. Kitty Ussher [...]
KPMG UK audit chair to join board of BHP September 2, 2021 KPMG’s UK chair of audit, Michelle Hinchliffe, will join the board of BHP as a non-executive director next year, the mining company has announced today. Hinchliffe will retire from KPMG UK in February after 30 years in the accounting giant’s financial services division. She will also become a member of BHP’s risk and audit committee [...]
Global hiring spree: Amazon looking to recruit 55,000 people worldwide September 2, 2021 Amazon confirmed this afternoon it is planning another hiring spree, saying it looks to recruit 55,000 people around the world. The positions range from tech jobs to corporate roles to warehouse work packing and shipping orders for the online shopping giant. While other companies have laid off workers during the pandemic, Amazon’s workforce has ballooned [...]
Databricks racks up $38bn valuation after catching fresh investor eyes September 1, 2021 Data and artificial intelligence firm Databricks has racked up an eyewatering $38bn valuation after a fresh bout of investors piled into its latest fundraiser. Databricks, which offers data platforms that business heavyweights like Shell, HSBC, T-Mobile, Rolls-Royce, Gousto, and Autotrader rely on, has been channelling its recent efforts into ‘data architecture’ or massive-scale data engineering. [...]
Huw Pill succeeds Andy Haldane as Bank of England’s chief economist September 1, 2021 The Bank of England has appointed Huw Pill as its new chief economist, ending a prolonged search for Andy Haldane’s successor, it announced today. Pill joins the Bank of England from Harvard Business School, where he has been a senior lecturer since 2018. Prior to teaching, he was Goldman Sachs’ chief European economist and has [...]
Former HSBC boss John Flint lands UK Infrastructure Bank chief executive job September 1, 2021 John Flint, the former CEO of HSBC, has been appointed as the first chief executive officer of the new government-backed UK Infrastructure Bank. Chancellor Rishi Sunak has tasked Flint with leading the Bank’s mandate to identify and finance infrastructure projects as part of the government’s “levelling up” agenda. The UKIB was first announced at the [...]
Britons save £7bn in July amid covid money worries September 1, 2021 Britons saved £7bn in July as concerns over Covid-19 and the pingdemic prompted people to hide away their cash. The jump in savings caused total funds deposited in bank accounts since the since the start of the pandemic to rise to almost £230bn, according to the Bank of England. A spokesperson for Hargreaves Lansdown, the [...]
Job vacancies surge as Reed advertises now more than 2m roles September 1, 2021 Job vacancies are “surging”, with two million advertised on one site so far this year, new research suggests. Reed said the two million roles it advertised for the first seven months of the year surpassed the total for all of 2020. The recruiters said job opportunities had continued to surge, especially in transport and logistics, [...]
City Moves: Who’s switching jobs in the Square Mile this week? September 1, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Pictet Wealth Management poaches Goldman Sachs veteran as new CEO Pictet Wealth Management has appointed a Goldman Sachs veteran as its new CEO, following the departure of its long-standing lead Heinrich Adami. Joining next week, Robert [...]
Morgan Stanley hikes pay for junior bankers … again August 31, 2021 Morgan Stanley has raised base salaries for entry-level bankers for the second time in a month, heating up the pay hike frenzy as Wall Street rivals compete for junior talent. Junior bankers at the US investment bank will now be paid a base salary of $110,000 – up from the previous rise from $85,000 to [...]
