Enough is enough: HSBC chief bites back over mega-fines and regulation August 4, 2014 HSBC’S chairman launched an unprecedented attack yesterday on what he sees as a wave of conflicting and poorly designed regulations sweeping the world’s banking sector. Douglas Flint’s remarks are the latest sign of a growing frustration in the City over the sustained political pressure on the industry. Flint said that new red tape is undermining [...]
Shawyer quits role on M&S Bank’s board March 17, 2015 M&S BANK non-executive director Peter Shawyer resigned from the board this month, it was announced yesterday, after 19 months at the bank. “Peter Shawyer has made the decision to retire from his role as a non-executive director at M&S Bank due to the ill health of his wife,” said a spokesperson for the bank. Shawyer [...]
City Moves for 01 June 2015 | Who’s switching jobs May 31, 2015 Aviva Investors The asset management firm has appointed James Tothill as head of third party sales. He joins from Aria Capital Management, where he was head of strategic partnerships. Tothill has also previously worked as head of global partnerships at Henderson Global Investors. State Street Effie Datson has been appointed global head of product for [...]
New race started by Carney’s run April 22, 2015 THERE’S nothing like a race to get the City’s competitive juices flowing – as the London Marathon demonstrates. And this time it’s not just the running The Capitalist is talking about, it’s the sponsorship. With Bank of England governor Mark Carney set to don his trainers on Sunday in aid of Cancer Research UK, the [...]
Metro Bank is the latest challenger bank to eye London float April 19, 2015 The battle between the "big four" high street lenders and the challengers banks just ratcheted up a notch. New kid on the block Metro Bank is eyeing a £1bn initial public offering on the London stockmarket next year, according to the Telegraph. This comes just five years after it emerged to shake-up Britain's banking landscape. [...]
Barclays joins banks paying fines over forex-rigging scandal May 10, 2015 Barclays, RBS, JP Morgan and Citigroup are all expected to settle forex manipulation accusations with US regulators as soon as this week. Shares in the sector have been held down by uncertainty around the scale of the fines, which are expected to come in at around the £3bn mark. It comes six months [...]
Former Barclays chiefs Sir David Walker and Martin Taylor clash in Bank of England ringfence row June 3, 2015 A pair of big City beasts clashed yesterday over the incoming ringfence, designed to split retail from investment banking, one of the key structural reforms being introduced after the financial crisis. To make matters more juicy, they are both former bosses of Barclays. Sir David Walker, chairman from 2012, in the wake of the Libor [...]
It’s time for David Cameron to make unpopular decisions – Editor’s Letter May 14, 2015 Today the hard work begins. After a few days where the Conservatives still seemed to be in full campaign mode, setting out their blue collar pitch for 2020, David Cameron’s speech in Scotland brings the hard decisions he faces in this Parliament back to the forefront. Rightly so. This government has a once-in-a-generation chance to [...]
Chinese equities – a steady bull market? Despite risks, stocks will continue to rise in coming months June 1, 2015 Despite a six per cent sell-off on Thursday, the Chinese equity markets made fresh gains yesterday. Shanghai’s CSI 300 index rose 4.86 per cent to 5,076.18, while the Shanghai Composite Index gained 4.72 per cent to 4,828.74, following a 136.9 per cent increase in the last 12 months. These gains came despite relatively weak market [...]