Lloyds hires Barclays exec to lead debt capital markets division August 23, 2021 Barclays exec Miray Muminoglu has been appointed as the new head of Lloyds Bank’s financial institutions debt capital markets and securitised products group. Muminoglu, who currently works as managing director, head of term funding within Barclays’ group treasury unit, will join Lloyds Bank in London this November, reported Financial News. Muminoglu has over 30 years [...]
Supreme Court Google ruling sends shockwaves through legal community November 10, 2021 London’s legal community has been left reeling by the Supreme Court’s decision to vote down a £3bn lawsuit against Google. The action led by former Which? director Richard Lloyd, supported by the campaign group Google You Owe Us, fought to bring a “representative action” against Google for “illegally” collecting Safari browsing data through “clandestine tracking” [...]
Sainsbury’s and M&S walk into shareholder storm over minimum living wage versus bumper bonuses July 1, 2022 Supermarket giant Sainsbury’s will be put under pressure next week to pay all staff and contracted workers the national living wage, as activists mobilise in the first shareholder resolution of its kind. Responsible investment campaign group ShareAction is driving the experimental motion at the supermarket giant’s annual general meeting on Thursday 7 July. Legal & [...]
Ed Warner: When risk in sport is a smart choice June 29, 2023 This week columnist Ed Warner looks at risk in sport and how sometimes, such as in Bazball in cricket, it can be the smartest choice. A team of sub-10 second sprinters can be beaten to 4x100m relay gold by a quartet who have never broken that magic barrier. The trick is risk management in the [...]
New ‘purpose-built’ $1bn UK clearing bank launches in London November 30, 2021 London gets its second new clearing bank in 250 years today, as The Bank of London launches in the city to approve and process cross-border payments. Founded by Anthony Watson, a former chief information officer at both Nike and Barclays, The Bank of London is taking on the four banking giants HSBC, Lloyds Banking Group, [...]
UK Finance chair Bob Wigley: We need to create ‘reasons for banks to be in London’ July 4, 2022 Bob Wigley, a seasoned City veteran, knows a thing or two about banking. He has chaired UK Finance, the British banking sector’s representative body, since its creation in 2017 by condensing several lobby groups into one. He was also instrumental in setting up TheCityUK, spent over a decade with investment banking giant Merrill Lynch and [...]
Scandal-beset Credit Suisse to present early strategy update November 1, 2021 Credit Suisse will provide an update, earlier than expected, on the group’s strategy review this Thursday, following a series of high-profile scandals which has left the Swiss lender reeling. The review into the banking giant’s culture and risk management, promised by chairman Antonio Horta-Osorio, will follow the bank’s third-quarter results at an investor event in London. [...]
UK firms bank on London’s status as top financial centre September 13, 2021 More than two thirds of the UK’s financial firms believe that London will retain its status as one of the world’s leading financial centres after Brexit. When Britain completed its exit from the EU in December last year, it divorced from its biggest single export customer, casting doubts over its status as a leading global [...]
Lloyd’s losses set to swell to £2bn as surge in business interruption claims squeezes bottom line August 24, 2021 Insurance market Lloyd’s is set to swing to a £2bn loss, triggered by a surge in claims on business interruption policies, according to fresh analysis. Research from Insurance DataLab shows the London market nursed losses that were £1.6bn higher than 2019’s figure last year. Lloyd’s abysmal performance last year was driven by a poor performance [...]
As the City readies itself for the future, firms rethink their office downsize January 25, 2022 Moments after Boris Johnson announced the end of Plan B Covid-19 restrictions the order went out to civil servants to lead by example – and head back to the office. The edict will have reflected a desire to get people back into the capital and breathe new life into the economy, not least the hospitality [...]