So it’s goodbye to the brainy Andrew McNally, who is leaving the private bank Berenberg after 12 years and only six months after being promoted to become its UK head.
In an internal memo, Berenberg’s partners announced McNally’s plans with the comment: “We look forward to an ongoing strong relationship with Andy during his future endeavours. We built up a strong presence in the UK with 200 professionals and will continue to grow.”
McNally, who is being coy about his future, commented; “It has been a privilege to be part of such a strong and growing team, especially against a backdrop of rapid change in the industry and challenging markets.”
■ The City’s social conscience was on trial last night, as the latest debate in the City of London Festival’s Justice, Money, Power series took place at the bowler hat venue in Paternoster Square. In the context of the question “Can the City be socially useful?”, the Square Mile found itself charged with short-termism and greed, although our very own managing editor Marc Sidwell gave an impassioned defence, citing its wealth creation and sizeable tax take. The debate continued in a local drinking hole for some time afterwards, living up to its billing by one panellist as a “rowdy and expansive” affair.