Monte dei Paschi di Siena shares rise by double figures as investors await news of rescue plan October 24, 2016 The share price for embattled Italian lender Monte dei Paschi di Siena has rocketed by double digits this morning, as investors wait to hear more about the bank's bailout deal. Shares had risen 23.3 per cent to €0.33 by just before 3pm London time, the highest price they have traded at in over two months. The bank's share [...]
This blockchain startup just hired a top chief from RBS’s investment bank August 2, 2016 The blockchain startup founded by a well known former JP Morgan executive has hired another top financier, the latest in a string of hires as the company expands. Carol Mathis, the chief operating officer of Royal Bank of Scotland's investment banking arm has joined Blythe Masters' Digital Asset Holdings, the fintech firm backed by Santander, JP Morgan [...]
City Moves for 24 November 2016 | Who’s switching jobs November 24, 2016 AEW AEW has appointed Hans Vrensen as European head of research and strategy. Hans, who will be based in London and oversee teams in London and Paris, will report to Rob Wilkinson, CEO of AEW Europe and will work closely with AEW’s global platform. Hans’ responsibilities at AEW will include advising the investment and asset management [...]
British American Tobacco shares fall three per cent after announcing $49bn Reynolds takeover deal January 17, 2017 British American Tobacco's (BAT) share price tumbled four per cent on Tuesday afternoon after it announced a deal to take over US competitor Reynolds. After months of talks between the two firms, BAT has agreed to pay around $49.4bn (£40.8bn) for the 57.8 per cent of Reynolds that it does not already own. Its shares jumped [...]
Goldman Sachs to shift 2,000 jobs out of London if goverment pursues “hard Brexit” October 9, 2016 A so-called "hard" separation of the UK from the European Union would prompt Goldman Sachs to shift 2,000 highly paid staff out of London. The loss of Britain's prized preferential access to the single market would lead the Wall Street stalwart to move one in three of its employees to rival financial hubs across Europe, The [...]
Misys: London’s biggest IPO of the year is on October 6, 2016 Tech company Misys will return to the markets with an IPO in early November, the firm said today, in what is expected to be one of the biggest floats of the year in London. The software company will list on the London Stock Exchange main market after a four year hiatus. Now Vista Equity Partners, which took the company [...]
Donald Trump’s business meddling: Crony capitalism to a Tea January 17, 2017 To understand why many large businesses and pro-market US policy wonks are anxious about a Donald Trump presidency, one has to understand the lessons of the Tea Party. No, not the recent grassroots phenomenon caricatured in the UK media. I’m talking about the Boston Tea Party of 1773 – in which American colonists, belonging to [...]
Battle of the Banks: UBS is financial advisor to the most FTSE 100 companies, followed by JP Morgan and Bank of America Merrill Lynch November 30, 2015 UBS has managed to win the battle of the banks and remain at the top of the table of FTSE 100 financial advisors for another year, with 14 clients in the UK's blue-chip index, according to Adviser Rankings' data. JP Morgan and Bank of America Merrill Lynch (BoAML) were just behind with 13 and 11 [...]
Wells Fargo chief executive forfeits millions in wake of internal investigation into fake accounts September 28, 2016 Two leading Wells Fargo executives have agreed to forfeit $60m (£46m) over the ongoing bank account scandal as Janet Yellen came under pressure to order a break-up of the lender. Chief executive John Stumpf will forego shares worth $41m and Carrie Tolstedt, the former head of the retail division, will miss out on $19m of shares after the company board [...]
Citigroup plans to relocate 10 per cent of UK roles if the UK can’t secure passporting October 19, 2016 US bank Citigroup would relocate almost 1,000 jobs outside of the UK if the government is unable to secure passporting for financial services. The bank, which has 9,000 staff in the UK, has told MPs that failure to secure passporting would see it move the roles. Citi has major locations in Dublin, Paris, Frankfurt and [...]