City Moves for 23 November 2015 | Who’s switching jobs November 22, 2015 TISA The financial services membership organisation has appointed Kenn Taylor to its retirement policy and technical team. He has 30 years’ industry experience, most recently leading consulting teams with Troika, Navigant and Grant Thornton. THERIUM CAPITAL The third party litigation funder has appointed Timothy Mayer and Nicholas Moore as principals in its investment team. They [...]
Former HSBC boss Lord Green steps down as TheCityUK chairman over tax avoidance banking row February 14, 2015 The under-fire former boss of HSBC has quit his job as head of a City lobby group following revelations over tax avoidance at the bank when he was in charge. Green has been in the firing line after it was revealed HSBC's Swiss private banking arm helped clients evade and avoid hundreds of millions of pounds [...]
Italian bank UniCredit to cut 18,200 jobs November 11, 2015 Italian bank UniCredit is planning to cut 18,200 jobs by 2018 in an acceleration of cost cutting measures. The bank today unveiled a strategic plan to become more efficient and profitable, planning to slash thousands of jobs as well as focus on "the new digital agenda, underpinned by €1.2bn in investments over 2016-18", in order to accelerate [...]
Tesco first half results: Three things to expect from half-year interims and Dave Lewis on Wednesday October 4, 2015 Tesco is due to reveal first half results on Wednesday, and just over a year on from the supermarket shocking the City with a quarter of a billion-pound black hole in its financials, all eyes are on how far through it really is in turning things around. With a bulging balance sheet and market share [...]
HSBC “not protected” from criminal investigation by DoJ money laundering deal, says prospective attorney general Loretta Lynch February 11, 2015 HSBC could face prosecution by the US's Department of Justice, as it comes under renewed pressure over the actions of its Swiss subsidiary. Loretta Lynch, Barack Obama's nominee for attorney general, was part of a team that secured nearly $2bn (£1.3bn) from HSBC over charges that it refused to prevent money laundering by drug [...]
Lenders buoy FTSE 100 after stress over tests fades – London Report December 2, 2015 A buoyed banking sector after passing Bank of England (BoE) stress tests yesterday pushed the FTSE 100 upwards, making up for underperforming European indices in the previous session. Financial stocks added nearly 20 points to a 39.56 point advance for the blue-chip index, which was up 0.6 per cent at 6,395.65 by the close. Barclays’ [...]
At the close: FTSE 100 index closes lower on miners November 27, 2015 The FTSE 100 closed down today, led lower by miners after having made gains yesterday. The UK's top blue-chip index closed 0.28 per cent down, at 6,375 points, led lower by Anglo American and Glencore, after negative data from China was released showing that Chinese industrial profits fell 4.6 per cent in October. Miners, other than BHP Billiton, yesterday led [...]
Banks brace for tax showdown: City giants warn jobs and growth are at risk from Whitehall interference September 21, 2015 Unpredictable and excessive taxes are pushing the British banking sector to the brink, according to a major new report by a leading industry body. The British Bankers’ Association (BBA) and PwC reveal that the UK banking sector contributed an estimated total of £31.3bn in taxes last year, and warn of the risk posed to [...]
City Moves for 16 November 2015 | Who’s switching jobs November 15, 2015 COLLIERS INTERNATIONAL The commercial real estate services firm has appointed business rates specialist Jeff Norris as director. He has over 30 years’ experience, and has held roles at Sinclair Goldsmith, Edwin Hill (now Altus), and Farebrother, where he was a partner heading up the rating department, before running his own consultancy. OPEN OCEAN The early [...]
FTSE closes higher after Bank of England keeps rates unchanged October 8, 2015 Britain's blue-chip index closed up 0.6 per cent to 6,374.82 points today, after the Bank of England (BoE) voted 8-1 in favour of holding interest rates at a record low 0.5 per cent. The Bank's monetary policy committee – which is charged with setting interest rates – pushed back its forecast for when inflation will return to [...]