City Moves for 5 October 2016 | Who’s switching jobs October 5, 2016 Investec Wealth & Investment Investec Wealth & Investment (“IW&I”) has appointed Louise Hall as head of the firm’s London office. She takes over from David Bulteel, who is becoming head of IW&I’s international division. Louise Hall joined IW&I as a graduate trainee in 1989 and has led the firm’s specialist charities and not-for-profit division since [...]
Uncertainty not totally to blame for UK’s economic problems, says MPC member November 23, 2016 Uncertainty might be causing some wobbles for businesses, but it gets more blame than it deserves, a member of the Bank of England's monetary policy committee (MPC) will say this morning. Speaking at a conference hosted by JP Morgan Cazenove, Kristin Forbes, external MPC member, is expected to say that, while mentions of uncertainty in the likes of [...]
Bank lobby boss Anthony Browne says it’s time to stop grieving over Brexit November 22, 2016 The head of the British Bankers' Association (BBA) last night declared “the time for grieving is over” in the wake of the Brexit vote. “We should stop looking back, roll up our sleeves and look to the future,” said Anthony Browne, speaking at the BBA’s annual dinner at Mansion House. Read more: Sir Martin Sorrell: Brexit [...]
London Stock Exchange boosts information business with acquisition of US-based Mergent November 21, 2016 The London Stock Exchange Group has announced a takeover of US-based Mergent to boost its information services business. The deal, the terms of which have not been disclosed, is expected to close on 31 January. The firm will join the information services division of the group, which also houses FTSE Russell, an indexes and data [...]
Euronext has confirmed a €510m offer for LSEG’s French clearing house January 3, 2017 The London Stock Exchange Group today took a significant step in its attempts to complete its mega-merger with Deutsche Boerse, agreeing the sale of its French clearing business. Euronext, the owner of four of Europe's largest stock exchanges, confirmed it has agreed a €510m (£434m) deal for LCH SA, which the LSEG put up for [...]
US President-elect Donald Trump agrees to pay $25m to settle Trump University lawsuits November 19, 2016 US-President elect Donald Trump has reached an agreement to settle lawsuits in connection with his Trump University for $25m (£20m). If the settlement, announced yesterday, is approved, it will put to rest fraud allegations brought forward by former students at the now-defunct for-profit education company that offered real estate training from 2005 to 2010. New York attorney [...]
Bank shares tanked on Donald Trump’s triumph November 9, 2016 Banks' shareholders were clearly less than thrilled about who won the race to the White House this morning, but are learning to live with it this afternoon. After dipping initially this morning, shares for the big banks listed in London have now recovered. Shares in HSBC are currently up 0.1 per cent at 620.6p, Lloyds Banking Group [...]
Monte dei Paschi di Siena shares soar after board confirms it is pushing ahead with rescue plan October 19, 2016 Shares in Italian lender Monte dei Paschi di Siena soared today after its board confirmed it was still pushing ahead with rescue plans to bolster its capital and ditch some of its soured loans. In a statement released after the market closed last night, the bank noted its board had met to discuss the plans in more [...]
Four facts about Fintech Connect 2016 you need to know December 2, 2016 Are you a fintech pro? Then you'll know 2016 has been a year that keeps on giving where events are concerned. If you’re going to Fintech Connect Live this week, you’re sure of a big surprise: it promises to be bigger than ever. Why? Because every second you’re there, £634 will be made in fintech in the [...]
City Moves for 16 December 2016 | Who’s switching jobs December 16, 2016 World Trade Board Vince Cable, the former business secretary, has joined the World Trade Board as a strategic adviser. He will advise on the board’s collaborative initiatives to widen debate and foster a more inclusive future around sustainable international trade, as well as supporting the World Trade Symposium in 2017. Cable was the Liberal Democrat Member [...]