Global markets tumble as US bond yields unnerve investors April 25, 2018 Global equity markets have tumbled amid worries that growing US treasury yields will increase interest rates and drive up borrowing costs. The American treasury yields hit their highest level in nearly four years, brushing just over three per cent yesterday, due in part to rising inflation and worries over a more assertive Federal Reserve. Read [...]
Goldman Sachs hires new head of digital assets to explore cryptocurrencies such as bitcoin (BTC) April 23, 2018 Goldman Sachs has hired a new head of digital assets as the investment bank considers how to answer burgeoning client demand for cryptocurrencies such as bitcoin. Justin Schmidt will be vice president and head of digital asset markets based at the Wall Street giant, the bank confirmed today. He was formerly senior vice president at [...]
Goldman Sachs CEO Lloyd Blankfein: Our Brexit plans will soon reach the point of no return January 25, 2018 Goldman Sachs’ outspoken chief executive has warned the lender’s preparations for Brexit will soon reach a point where things “are not going to be undone”. In an interview with the BBC during the World Economic Forum in Davos, Lloyd Blankfein said Goldman has put measures in place to mitigate against a so-called hard Brexit. “We’ve [...]
London Stock Exchange Group appoints Goldman Sachs veteran David Schwimmer as its new chief executive April 13, 2018 The London Stock Exchange Group (LSE) has appointed David Schwimmer, a longtime Goldman Sachs banker, as its new chief executive. Schwimmer will join the group on 1 August, succeeding Xavier Rolet, who left amid a bitter public row with an investor to oust the group’s chairman, which was sparked by the announcement in November 2017 [...]
The Lloyd’s of London lunchtime drinking ban will backfire: As a recovering alcoholic, I should know February 17, 2017 The announcement this week that Lloyd’s of London has banned booze during office hours adds to the slightly Orwellian atmosphere currently infiltrating 2017. It smacks of a nanny-state approach, using a sledgehammer to crack a nut, and as a recovering alcoholic myself, I don’t think it’ll work. Why not? Because you don’t change behaviour, let [...]
Will the number of listed law firms double over the next 12 months? March 15, 2018 When previously unfashionable Birmingham law firm Gateley listed on London’s AIM market on 8 June 2015, hundreds of years of legal tradition were undone, as members of the public were able to buy shares in a law firm for the first time. While this was undoubtedly a seminal moment for the English legal market, Gateley’s [...]
Davos Diary: Prime Minister May’s reception as cold as the weather January 20, 2017 At the very least, this week’s Davos agenda had a weary air of familiarity about it: sustainability, artificial intelligence and income inequality all competing to be hailed the zeitgeistian focus of the world’s power-brokers’ power breakfasts. In that respect, little has changed. But if the Trump presidential machine rolls into town this time next year, I [...]
Sadiq Khan’s new tech-heavy business advisory board will include executives from Facebook, Citymapper and Love Home Swap November 27, 2016 Sadiq Khan will name executives from companies including Facebook, Citymapper and Love Home Swap as part of his business advisory board Monday, according to Sky News. Nearly one-third of the 16-memeber-group work directly in the tech sector, including Nicola Mendelsohn, vice-president of Facebook and head of its European operations. Last week, Facebook announced plans to create [...]
Goldman Sachs mulling sale and leaseback of new London headquarters February 26, 2018 Goldman Sachs is considering selling its massive new headquarters in London and leasing it back. The investment bank’s new London office, which functions as its European headquarters, could fetch as much as £1bn, Bloomberg first reported. Goldman currently employs more than 6,000 staff in London, and has not announced how many, if any, jobs will [...]
City Moves for 1 February 2017 – who’s switching jobs? February 1, 2017 Today's City Moves cover insurance, real estate law and a national tax and auditing outfit. Take a look at these movers and shakers: PWC Paul Delbridge has taken on the role of London market insurance leader at PWC. Paul is a partner with 30 years’ experience at the firm, including three years in New York, [...]