Barclays set to unveil annual profit drop as restructuring costs offset higher interest income February 14, 2024 Barclays' annual profits are set to be dragged down by £825m in costs tied to a major restructuring as the bank prepares to reveal more details about the plan to shore up its balance sheet.
City Moves: Who’s switching jobs in the Square Mile? June 21, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Ontier Law firm Ontier has built out its London office with a new partner in its commercial litigation team. Amy Harvey, who will focus on asset recovery in cross-border disputes, will be Ontier’s third female partner hire in London in just [...]
City Moves: Who’s switching jobs in the Square Mile? September 16, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Bovill Financial regulation consultancy Bovill has appointed a Big Four director to head its wealth practice, covering financial planning, regulatory compliance and prudential obligations. Based in London, Matt Browne joins from PwC, where he was a director [...]
Credit Suisse posts another loss on swelling legal costs April 27, 2022 Millions in pounds in legal costs to deal with a string of scandals has plunged embattled lender Credit Suisse to another quarterly loss, it announced today. The Swiss bank, which has been engulfed by sudden board departures and huge losses from its involvement in the Greensill Capital debacle, spent CHF 703m (£578m) on hiring lawyers [...]
Market shrugs at Durex owner Reckitt’s growth and simplification plan July 24, 2024 Durex condom maker Reckitt Benckiser has pledged to sell off its home care and nutrition brands as part of a simplification drive, instead focusing on health and hygiene.
Ince Group: The law firm collapse that has rocked London’s legal sector November 2, 2023 Ince collapsed into administration earlier this year. But the bigger crisis came after it was rescued by a law firm virtually no one had heard of.
The debt pile at Capita is coming down after a mass sell-off. But is it out of the woods? December 8, 2023 Capita has completed its plan to sell off all of its non-core businesses to work down its debt. But has it done enough to please investors?
Barclays chief CS Venkat: ‘We are creating a simpler, better, more balanced bank’ February 20, 2024 Barclays chief executive CS "Venkat" Venkatakrishnan has announced that the bank will become "simpler, better and more balanced" in a much-anticipated update on its restructuring plans.
Barclays shares slide after lowering interest guidance for full year despite beating expectations July 27, 2023 Barclays shares dropped after the lender said it expects the tailwind from rising interest rates to be slowing, despite beating expectations in the second quarter. In the three months to June, Barclays’ profit rose 31 per cent to nearly £2bn, slightly higher than the £1.9bn analysts had predicted. On the back of the results, Barclays [...]
Exclusive: Home REIT investors push for sweeping tenant clear-out in rescue plan March 17, 2023 Home REIT investors are pushing for a clear-out of its tenant base as part of rescue plans drawn up by the firm vying to become its new investment manager, City A.M. has learned.