HSBC AGM: Remuneration report easily passed by shareholders April 22, 2016 If you were expecting some revolutionary zeal from HSBC's shareholders at today's AGM, you might be surprised at how easily the bank's executive pay has been approved. The directors' remuneration report was passed with 90.49 per cent of the vote today, while the directors' remuneration policy was approved with 96.05 per cent of the vote. That [...]
Theresa May steps up Brexit charm offensive, reassuring City chiefs at Downing Street and Morgan Stanley party March 9, 2017 Prime Minister Theresa May has been stepping up a City charm offensive in recent weeks, hosting top bankers and asset managers at Downing Street, City A.M. can reveal. It is understood an hour-long meeting at No 10 in late February was attended by Aberdeen Asset Management boss Martin Gilbert, Schroders’ Peter Harrison, Barclays chief Jes [...]
These are the UK banks with the happiest and saddest customers February 23, 2017 TSB has the happiest customers of the UK's high street banks, according to new research based on tweets. Emotion analytics company Adoreboard looked at more than 67,000 tweets by bank customers over a six-month period, and used mathematical algorithms to detect emotions such as joy, trust, rage and anger expressed by social media users. Unsurprisingly, the researchers [...]
Green bond supply will stagnate in 2017 with no repeat of Chinese expansion January 11, 2017 The rapid increase in green investment bonds will grind to a halt in 2017 as Chinese issuers abstain from providing bumper supply to the market. The amount of green investment bonds issued globally in 2016 doubled to $90m, but such an increase will not be replicated this year, an HSBC research paper outlined. Read more: Government comes under fire for [...]
HSBC’s chief executive Stuart Gulliver standing down in two years, with Axa’s Henri de Castries hotly tipped as new chairman April 17, 2016 Stuart Gulliver, the chief executive of banking giant HSBC, looks set to stand down from his role in two years. The bank revealed in a letter to its shareholders last month that the new group chairman, who will be joining once current chairman Douglas Flint steps down, will be heading up the search for a new [...]
Wealth manager Brooks Macdonald reports growth despite “really terrible” period after Brexit vote March 15, 2017 Wealth manager Brooks Macdonald today reported growth in funds under management (FUM), revenues and profits, despite a “really terrible” period after the EU referendum. The figures Discretionary FUM were £9.3bn at the end of 2016, up 19 per cent on 2015. In the six months to 31 December, revenue came in at £45.3m, up 17 [...]
HSBC to appoint new boardroom pay chief as current chair Sam Laidlaw set to quit May 25, 2016 HSBC is set to appoint a new boss for its boardroom pay committee as current chair Sam Laidlaw is set to step down from the bank's board as early as next year. Laidlaw, the former boss of Centrica, took over as chair of the bank's remuneration committee from former Rolls Royce chairman Sir Simon Robertson last [...]
Banks expect costs for non-financial risks to skyrocket over the next few years February 20, 2017 The majority of banks are fretting that the amount of cash they are expected to stockpile against risks like cybercrime, compliance failings and IT meltdowns is going to mushroom over the next few years. Sixty per cent of European banks believe the amount of capital they will be expected to hold to cover such non-financial risks [...]
City Moves – who’s switching jobs at Legal & General, Northern Trust and Jackpotjoy March 17, 2017 Today's City Moves cover insurance, wealth management and online bingo. Take a look at these movers and shakers: Legal & General Legal & General has appointed Dharshini David as corporate affairs director. Dharshini will take up the appointment at the end of March and will report to group CEO, Nigel Wilson. She will be responsible [...]
The new voice of British banking: UK Finance launches today with new board members revealed July 3, 2017 The British finance industry will be publicly represented from today by a single new body, UK Finance, after the merger of six separate lobby groups. The new body, which officially starts operations today at Angel Court, behind the Bank of England, will represent over 300 British firms providing credit, banking, markets and payments services. The [...]