Banking shares bolster FTSE 100…except for RBS September 21, 2016 Banks' investors have a reason to celebrate this morning, as share prices among lenders are on the rise – with the exception of RBS. At time of writing, Barclays is the biggest riser of the FTSE 100, while shares in HSBC, Standard Chartered and Lloyds Banking Group are also up, after the Bank of Japan [...]
City Moves for 30 November 2016 | Who’s switching jobs November 30, 2016 Close Brothers Asset Management Close Brothers Asset Management (CBAM) has strengthened its financial education corporate relationship team, making key appointments in senior positions. Mike Hardy (pictured) has been appointed as director of strategic partnerships having over 15 years’ experience in this area with senior positions at three FTSE companies; HSBC, Aviva and Lloyds Bank. His role [...]
HSBC to leave the Council of Mortgage Lenders by the end of 2016 as financial industry trade bodies get set to merge and Barclays could follow January 26, 2016 HSBC is to quit the Council of Mortgage Lenders (CML), the trade body representing mortgage lenders, as it decides whether to remain headquartered in the UK. The bank has handed in its notice that it intends to leave the CML at the end of December, after the requisite one year notice period. This comes after a plans were unveiled [...]
When fintechs and banks go speed dating February 8, 2017 While the seemingly age-old debate about whether fintech startups will kill banks still rages on, FinovateEurope demonstrates why that question is now largely redundant – things have moved on. The 80 startups on stage at the two day event in the heart of the City are pitching the banks, insurers and City institutions in attendance more [...]
HSBC: UK homeowners are losing £29bn a year by not remortgaging November 19, 2015 Brits are losing a massive £29bn by not remortgaging onto better deals, a leading lender has said. With mortgage rates currently hovering around record lows, HSBC has calculated that homeowners who have not remortgaged onto a lower fixed rate from their standard variable rate (SVR) are losing an average of £4,000 a year. The SVRs [...]
Here’s how far fixed rates have fallen in the last six years August 4, 2016 Fixed rate mortgages have fallen continuously for the past six years – with marked falls taking place before the Brexit vote. Rates have fallen by an average of 2.5 per cent since 2010, according to data released today from Legal & General. Read more: Experts are not impressed by HSBC's new 0.99 per cent fixed [...]
Bank shares tanked on Donald Trump’s triumph November 9, 2016 Banks' shareholders were clearly less than thrilled about who won the race to the White House this morning, but are learning to live with it this afternoon. After dipping initially this morning, shares for the big banks listed in London have now recovered. Shares in HSBC are currently up 0.1 per cent at 620.6p, Lloyds Banking Group [...]
Unicredit’s international lenders commit to €13bn rights issue, as bank also ditches €17.7bn of non-core loans December 13, 2016 Italy's largest ever rights issue was announced this morning by Unicredit, the country's biggest bank. The lender pushed the button on a €13bn (£10.9bn) rights issue, in a balance sheet restructuring Unicredit hopes will pave the way for dividend payouts to recommence by 2019. A raft of international banks, including Bank of America Merrill Lynch, J.P. Morgan, and [...]
Wealth manager Brooks Macdonald names new chief exec as assets under management rise 7.5 per cent October 20, 2016 Brooks Macdonald today named a new chief executive as the wealth management firm reported a seven per cent growth in assets under management (AUM). Caroline Connellan, HSBC’s head of UK premier and wealth, is set to join the company next April and will replace Chris Macdonald. Read more: Leeds wealth manager aims to take revenues [...]
Banks told to fix failing technology and put IT experts on board by Andrew Tyrie after RBS, Barclays and HSBC online banking issues January 24, 2016 Banks have been told to fix their technology and add better IT expertise to their boards after a series of failures and glitches. RBS, Barclays and HSBC have all suffered problems which left customers without access to online services or unable to make payments over the last six months of 2015. “Every few months we have [...]