Will Jane Fraser’s bold plan to overhaul Citigroup work? January 15, 2024 Citigroup, the US’ third-largest bank by assets, is eyeing a rebound in 2024 with a major restructuring under Scottish chief executive Jane Fraser.
UK banks could face major losses over FCA motor finance review January 15, 2024 UK banks could be on the hook for billions in compensation, according to analysts, after the City watchdog announced a review into unfair costs on discretionary car finance commissions.
City job vacancies dropped nearly 40 per cent in 2023 as firms reverse post-pandemic overhiring January 15, 2024 Job openings and jobseekers in the City's financial services sector have fallen back to pre-pandemic levels, according to new data, as firms respond to high costs and overhiring.
Goldman: Private equity will have to go ‘back to the future’ in new rate environment January 14, 2024 In the new world, Nachmann said a lot of the returns will come from "sourcing really good opportunities" and making "operational improvements".
Wells Fargo warns over interest rate cuts despite boost in profits January 12, 2024 Wells Fargo said it had topped profit expectations for the fourth-quarter of the year today but warned that predicted interest rate cuts could dampen profits in the year ahead.
JP Morgan and Bank of America profits shrink as US banks pay for SVB failure January 12, 2024 JP Morgan’s profits shrank in the final three months of the year as the lender paid out $2.9bn for the rescue of smaller regional banks in the US.
Metro Bank: Troubled lender’s CFO to leave after turbulent 12 months January 12, 2024 James Hopkinson has been the bank's CFO and executive director since September 2022 after serving in a similar role at ClearBank.
Consumers urged to consider switching as nearly £400bn languishes in low-interest accounts January 11, 2024 Britons are keeping nearly £400bn in current and savings accounts earning just one per cent interest or less, according to new research, as savers are urged to shop around for the best deals.
UK government rejects calls for banks to pre-fund multibillion-pound deposit guarantee scheme January 11, 2024 The government has confirmed that it does not want British banks to imminently pay billions into a deposit insurance guarantee scheme designed to reduce the burden on taxpayers if lenders fail.
Mortgage rates are falling — how low could they go in 2024? January 11, 2024 More than 30 British lenders have slashed their home loan prices in the last two weeks as 2024 kicks off with a mortgage price war.