As Lloyds posts its highest profit in a decade, have British banks got over the financial crisis? February 23, 2017 Fahad Kamal, senior market strategist at Kleinwort Hambros, says Yes. In the latest stress tests conducted by the European Banking Authority, only two of the 51 banks tested – neither British – would fall below the minimum capital level required in an “adverse” scenario. Admittedly, some UK banks still have a hangover from the pre-crisis [...]
Fresh batch of bankers to be brought within landmark accountability scheme on Tuesday March 5, 2017 Even more bankers are to be brought within the remit of the Senior Managers' and Certification Regime on Tuesday, one year after the first tranche of rules came into force. Under the Certification Regime, which is designed to increase levels of personal accountability in the financial sector, banks are required to identify any workers who could [...]
Goldman Sachs is shifting a London hedge fund team to New York February 9, 2017 A Goldman Sachs hedge fund currently based in London is closing its doors and shifting to New York, it has been reported. According to the BBC, eight bankers working in the Goldman Sachs Investment Partners (GSIP) team are affected by the move. It is understood they have either been told their jobs are moving across [...]
Former Centrica boss Sam Laidlaw closing in on North Sea takeover November 20, 2016 A former Centrica chief executive is believed to be in pole position to snap up one of the largest operators in the North Sea. Sam Laidlaw’s investment vehicle, Neptune Oil & Gas, is in advanced talks to acquire Engie’s controlling stake in the $4bn-valued (£3.2bn) production arm. Engie, the French state utility formerly named GDF [...]
AstraZeneca and HSBC chief executives next in line to face shareholder votes as report condemns boardroom pay practices as “broken” and “not fit for purpose” April 20, 2016 Boardroom pay practice is to be blasted as “not fit for purpose” tomorrow in an Investment Association report. It is published as AstraZeneca is the latest firm facing the prospect of a shareholder revolt over chief executive Pascal Soriot's £8.4m pay package. City A.M. has learned Royal London Asset Management (RLAM), which owns more than £500m, [...]
Revealed: Deutsche Bank swipes another chunk from bonus pots, having already trimmed payouts for one in four staff March 13, 2017 Staff at Deutsche Bank have been dealt another blow after discovering the German lender's group bonus pool is being cut in half. Bankers were told last week to expect a so-called "group bonus" equivalent to 50 per cent of the maximum amount they were due, City A.M. can reveal. Deutsche's variable pay consists of two [...]
US to bring charges against three UK ex-traders in forex probe over roles in ‘The Cartel’ chatroom January 10, 2017 The US Department of Justice plans to charge three UK-based ex-traders later today as part of its forex investigation over their involvement in the so-called 'The Cartel' chat group. The trio of former traders concerned are Richard Usher, formerly from JP Morgan, Rohan Ramchandani, formerly from Citigroup, and Chris Ashton, formerly from Barclays. Meanwhile, Matt Gardiner, formerly from UBS, has been [...]
Barclays boss Jes Staley spills the beans on Dodd-Frank, Brexit and robots February 23, 2017 Barclays boss Jes Staley was in a chatty mood today – perhaps unsurprising given his bank just announced it had nearly tripled its yearly profits. However, it wasn't just bottom lines and capital ratios the banking chief executive spoke about, as he shared his words of wisdom on a slew of other issues weighing on the [...]
HSBC: Gulf Cooperation Council states face $94bn looming debt crunch February 29, 2016 One of the world's biggest banks has warned a $94bn debt crunch is looming over Arab countries. HSBC said that sovereign, financial and corporate borrowers in the Gulf Cooperation Council (GCC) region must repay or refinance $94bn of bonds and loans in 2016 and 2017, Arabian Business reported. The GCC is an economic and political alliance comprising Saudi Arabia, Kuwait, the United Arab [...]
Careers advice at first sight as the London Stock Exchange hosts Treasury speed mentoring event December 12, 2016 It might not be well-known for its matchmaking skills, but the Treasury is having a go at revamping a certain dating industry staple. As part of its Women in Finance Charter, the government department, along with Women Ahead, will today be running a speed mentoring event. Here, 40 financial sector leaders will impart their wisdom to 40 women at [...]