Bank chiefs warn of more pain to come as cost cutting expected to be ramped up February 17, 2016 Britain's bank bosses have warned that cost cutting measures will have to be ramped up as stunted revenues and low interest rates continue to take their toll on the sector. A survey of UK bank chiefs by PwC found that almost 70 per cent said they expect to implement a cost cutting scheme in the next [...]
Banks are employing staff to listen in on traders’ conversations, after jargon and banter outsmarts surveillance technology February 14, 2016 Banks are now hiring staff to listen in on traders' conversations, after banter was found to flummox sophisticated surveillance technology, according to a new report on market abuse. The report from professional services firm PwC discovered that banks plan to spend £156m on surveillance technology over the next 18 months to make sure that trading [...]
City Moves for 21 April 2016 | Who’s switching jobs April 21, 2016 Lincoln International Lincoln International, the global mid-market investment bank, has announced that Tomas Freyman has joined the firm’s London office as a managing director specialising in valuations. Tomas will be part of the firm’s global valuations and opinions group and will work closely with Ron Kahn, who co-heads that group and is based in Chicago. [...]
Migration figures become latest political football in EU referendum May 26, 2016 David Cameron and the Remain camp could probably have done without this morning's immigration statistics – figures that are almost certain to be put centre stage during the last four weeks of the referendum campaign. The numbers, published by the Office for National Statistics (ONS), showed net migration was running at 330,000 in 2015, as a record number of [...]
Editor’s 2016 review: It’s been a year of momentous political change, but there’s every reason to look to the future December 22, 2016 Attempting to reflect such an extraordinary year with just a handful of our own front pages was always going to be difficult, but I thought we’d give it a go. The front page of City A.M. is (to borrow a phrase from our marketing department) the front door of our brand. The choice of splash, [...]
Hungry suitors circle Pizza Hut as owners put the restaurant chain up for sale February 14, 2016 The Private equity owner of Pizza Hut has put the restaurant chain up for sale after hiring advisers at PwC to find a buyer. Rutland Partners bought Pizza Hut’s UK franchise business from US firm Yum! brands in 2012 and set out on a £60m revamp of its 285-plus outlets to boost trading. Efforts have [...]
FTSE 100 non-executive directors sees lowest levels of fee growth for more than 15 years, rising just three per cent to £65,000 January 25, 2016 Generous pay packets in the boardroom could be set to become a thing of the past, as a new report has found that fees for non-executive directors have grown at their slowest rate for more than 15 years. According to research out today from PwC, the median non-executive director base fee increased by three per cent [...]
More action in Amsterdam as London’s float market awaits referendum May 24, 2016 The Amsterdam stock exchange today welcomed a new €740m (£564m)-valued addition. Livestock feed company ForFarmers priced on the Netherlands Euronext on Tuesday, finishing the day with a share price of €6.95. Read more: London set for IPO market recovery… but not just yet While Europe’s flotation markets have experienced a slow start to the year, [...]
How the big banks are reacting to Brexit: Thousands of UK jobs feared to be at risk June 24, 2016 Thousands of banking jobs across London are at risk after the UK voted for Brexit yesterday. JP Morgan, HSBC, and Citibank have warned jobs would be moved in the event of a Leave vote. And other big banks are also understood to be considering shifting jobs from the UK depending on how Brexit negotiations pan out. [custom id="161"] [...]
The galas, black-tie dinners and concerts marketing experts will be showered with at Advertising Week April 18, 2016 Now, City A.M. is a pro-business rag, fully supports the efforts firms make to promote their services, and would never endorse damaging a company's event by gatecrashing it. However, whether you are that way inclined or not, you'll be spoilt for choice with all the A-list events happening next week as part of Advertising Week Europe. Advertising week will [...]