Boris Johnson’s former advisor Gerard Lyons misses Bank of England governor shortlist September 7, 2019 The former economic advisor to Prime Minister Boris Johnson has failed to make the final shortlist to become the Bank of England’s next governor. Gerard Lyons had been the favourite to take over from Mark Carney due to his personal relationship with Johnson, but the Treasury have deemed him unsuitable for the role, according to [...]
Three in 10 FTSE 100 companies cut executive pensions as investor pressure mounts August 28, 2019 Three in 10 FTSE 100 companies have pledged to cut their executives’ pension payments in response to pressure from shareholders, as new data reveals that investor rebellions are on the rise. Research published today by the Investment Association shows that 30 companies on the index have made significant changes to executive pensions during this year’s [...]
HSBC urges peace amid Hong Kong clashes August 22, 2019 HSBC and Standard Chartered have weighed into the turmoil in Hong Kong today after calling for a peaceful resolution following several months of mass demonstrations. Both banking giants have taken out newspaper adverts in Hong Kong to urge an end to the violent clashes between police and protesters, which were sparked earlier this summer by [...]
Citigroup and BNP Paribas named in case against Huawei finance boss August 21, 2019 Citigroup and BNP Paribas have been dragged into an ongoing US court case against the chief financial officer of Chinese tech firm Huawei. The banks have been named in documents published by a Canadian court as part of extradition proceedings against Meng Wanzhou, who is currently under house arrest in the country. Read more: US [...]
ECB tells banks in Britain to speed up Brexit preparations August 14, 2019 Banks have been urged to speed up their Brexit preparations by the European Central Bank (ECB), which warned yesterday that London-based firms are falling behind on potential plans to move jobs. The Eurozone’s top banking watchdog has called on firms to step up their contingency plans as the UK nears Downing Street’s 31 October deadline [...]
Standard Chartered eyes growth in private banking with hiring spree August 14, 2019 Standard Chartered is set to embark on a recruitment spree in Asia as part of a plan to grow its private banking assets to roughly $100bn (£82bn). Over the next two to three years the lender is set to hire 30-40 private bankers every year to bulk up its private bank assets by 50 per [...]
Government proposals to fix the NHS pension crisis still miss the mark August 14, 2019 It has been an unfortunate theme over recent years that public services have to reach crisis point before the government is stirred to take action. And here we have the mother of all crises (that is, the NHS crisis) made worse by a desperately confusing pensions system. When a tax rule is effectively stopping doctors [...]
City Moves for 14 August – Who’s switching jobs at N26, Ferrexpo and Avonhurst? August 14, 2019 Today’s City Moves includes N26, Ferrexpo and Avonhurst. N26 N26 has appointed Thomas Grosse as chief banking officer. The newly introduced role is another step towards realising N26’s ambition to be the first truly global and fully digital retail bank. Thomas will oversee the set-up of regulated N26 banks and bank partnerships within the N26 [...]
City Moves for 9 August – Who’s switching jobs at Assurant, OSTC and Media Chain? August 9, 2019 Today’s City Moves includes Assurant, OSTC and Media Chain. Assurant Global provider of housing and lifestyle solutions Assurant has announced the appointment of Christian Formby as its new president, Europe, subject to receipt of regulatory approval. Formby will have responsibility for developing and executing strategic priorities for Assurant’s European operations to drive profitable growth in [...]
Ashtead slashes pension entitlements for top execs August 4, 2019 FTSE 100 plant hire firm Ashtead has axed pension entitlements worth up to 40 per cent of salary for its senior executives as pressure grows on UK public companies to cut excessive pension packages. Ashtead has cut pension perks for its senior staff from up to 40 per cent of salary to a maximum 15 [...]