EU referendum: Former HSBC chief executive makes the case for Brexit May 29, 2016 The former chief executive of HSBC, Michael Geoghegan has made the positive case for Britain leaving the European Union in a report that argues the UK must "take back control over the City". The paper, co-authored with Peter Udale, an independent risk consultant, says the Bank of England has "given the impression that all the risks [...]
UK slides down world ranking of banks, with only HSBC within the top 10 for core capital June 29, 2016 The gloss has come off the UK's banking sector a little bit today, as research revealed that the country's banks had performed poorly compared with their overseas counterparts. The UK ranked only seventh in a league table compiled by trade magazine The Banker of countries by total pre-tax profits, after banks' combined profits dipped by [...]
Hello, Jan du Plessis: BT set to tap Rio Tinto boss as new chairman March 5, 2017 BT Group is expected to name Rio Tinto boss Jan du Plessis as its new chairman. Du Plessis has emerged as the frontrunner for the role, beating HSBC group chairman Douglas Flint, according to the Sunday Times. Du Plessis has also served as chairman of SAB Miller and overseen its sale to Belgian-Brazilian beer firm Anheuser-Busch [...]
Fintech patents jump in “arms race” between banks and startups: These are the 10 countries filing the most April 18, 2017 The number of patents being filed for financial technology have jumped amid an “arms race” between fintech startups and banks, new figures reveal. Global fintech patents have grown by 49 per cent in the past five years, reaching 9,545 in 2016 according to official global filings. “The surge in patents reflects both the proliferation of [...]
These are the UK’s best and worst banks – look away now Barclays users February 17, 2017 Feeling disappointed by your service at Barclays? Well, research shows you're not alone. Barclays has been voted the worst British bank yet again, falling to the bottom of MoneySavingExpert's twice yearly poll. But Barclays isn't the only high street lender that had a poor showing. HSBC and Royal Bank of Scotland (RBS) came towards the bottom of the table, as 21 per cent of [...]
City Moves for 20 February 2017 – who’s switching jobs? February 20, 2017 Today's City Moves cover investment management, pensions and natural resources. Take a look at these movers and shakers: Quilter Cheviot Quilter Cheviot, part of Old Mutual Wealth, has appointed Cameron Farnell as regional development manager. Cameron has joined Quilter Cheviot after working for HSBC Group for over 15 years. In his most recent role, Cameron [...]
Hurry up: Bank regulator warns tight deadline for ring-fencing poses big risks for British banks June 16, 2017 British banks rushing to carry out capital ring-fencing have little room for error, with big risks of disruptions for customers, according to a senior regulator. There is a “high degree of delivery risk” involved in bringing the plans into place, according to James Proudman, an executive director at the Prudential Regulation Authority (PRA) in charge [...]
Barclays, Clydesdale, HSBC, Lloyds, Santander and Nationwide Building Society all downgraded by Standard & Poor’s over Brexit fears July 7, 2016 Six UK banks have been downgraded by Standard & Poor's (S&P) over concerns about risks arising out of the recent vote to leave the EU. Barclays, Clydesdale, HSBC, Lloyds, Santander UK and Nationwide Building Society have all seen their outlooks revised to negative by the ratings agency. S&P also revised its outlook on the Royal Bank of Scotland [...]
Banking Brexodus? One year on, this is what banks have said about Brexit and job moves June 23, 2017 In the year since the UK voted for Brexit, one of the hot topics for discussion in the City has been job moves. In February, Brussels think tank Bruegel estimated that 10,000 UK banking positions could be shifted to the EU because of Brexit. One year on from the EU referendum, it is difficult to [...]
There’s a new top dog at First Direct January 31, 2017 HSBC-owned First Direct has promoted its head of contact centres to head of the bank. Joe Gordon will replace Tracy Garrad, who, subject to regulatory approval, will be taking up the role of chief executive of HSBC in the Channel Islands and Isle of Man. "I can't wait to lead a bank that's recognised as one of the top [...]