Exclusive – Fintech tsar Charlotte Crosswell: ‘Our sector is not a fair and inclusive place’ December 16, 2020 As CEO of Innovate Finance, Charlotte Crosswell is Britain’s leading champion of innovative technologies in banking and finance. On behalf of the the not-for-profit group, which was founded in 2014 and supported by the City of London, she works closely with the Bank of England and the Treasury to support fintech solutions and pushes the [...]
Teneo boss steps down after drunken misconduct allegations June 29, 2021 The boss of PR firm Teneo has today resigned as chairman and chief executive after claims of drunken misconduct at a star-studded fundraising concert. Declan Kelly, who founded the comms firm back in 2011, today issued a statement confirming he was stepping down with immediate effect. He had already been stripped of his role on [...]
Teneo boss loses charity job after drunken antics at Prince Harry’s J-Lo concert June 25, 2021 The head of PR behemoth Teneo has stepped down from the board of a charity following allegations of drunken misconduct at a star-studded fundraising concert. Declan Kelly, chairman and chief executive of Teneo, has lost his board seat at campaign group Global Citizen after an alcohol-fuelled incident during the concert in May. He has also [...]
Three-quarters of new FRC panel members being ex-Big Four causes interest concerns May 5, 2021 The majority of individuals recently recruited to the FRC’s advisory panel have at some point worked for a Big Four firm, raising concerns about their objectivity when it comes to making recommendations that are in the public interest. The Financial Reporting Council (FRC) recently announced 19 new appointments to its advisory panel, a body established [...]
Bank of England paper says banker bonus cap can reduce excessive risk-taking August 14, 2020 The European Union’s cap on banker bonuses introduced after the financial crisis a decade ago can help to curb excessive risk-taking, a Bank of England study showed today. Britain had unsuccessfully opposed the cap, but bankers in London have been nurturing hopes that it could be discarded now that the country has left the EU [...]
Former bosses of Finablr and NMC Health face fraud accusations August 23, 2020 The former chief executives of Finablr and NMC Health are among a group of 17 people who are claimed to have embezzled millions of UAE dirhams from the firms, the Sunday Telegraph reported today. According to a report prepared for billionaire tycoon Bavaguthu Shetty, who founded the companies, brothers Prasanth and Promoth Manghat, who led [...]
HSBC receives second Bank of England warning over ‘non-financial risks’ November 7, 2019 HSBC has received a second warning from the Bank of England over its lack of progress tackling so-called non-financial risks, according to people familiar with the matter. Read more: ‘Not acceptable’: Profit sinks at HSBC Samir Assaf, chief of global banking and markets at the lender, told other executives on a call this week that [...]
Banking on the future: The boss of the Association of Foreign Banks speaks to CityA.M. December 12, 2019 Among the many services that the Association of Foreign Banks (AFB) provides to its global members is a guide on how to handle allegations of workplace harassment. Overseas banks with an office in the UK can pay their trade body a small fee for a 26-page report that highlights case studies of misconduct. It even [...]
Nissan crisis: Chief resigns after year of scandal and financial turmoil September 9, 2019 The crisis at Japanese automotive giant Nissan deepened today, after chief executive Hiroto Saikawa was asked to quit by the company’s board. In a sometimes heated late night press conference in Japan, board members confirmed that Saikawa, who had already expressed a desire to leave the top job, would step down. Read more: Nissan chief [...]
Three lessons law firms can learn from rivals’ collapses amid coronavirus April 30, 2020 Law firm collapses are a lot like bank runs. Confidence in the institution crumbles, causing partners to rush for the exits – taking their capital and clients with them. Partner departures reduce the firm’s revenue, profit and capital, leading to further partner exits in a destructive feedback loop. Once firms enter this death spiral it [...]