Artorius lures three wealth managers away from troubled UBS in major City coup August 2, 2022 City A.M. understands that Square Mile firm Artorius Wealth has bolstered its client team with the appointment of three senior UBS wealth managers, James Goddard, Helena Pratt and Max Di Lieto. James Goddard spent nearly two decades in wealth management across Citi, Barclays and UBS, and focused the last five years on partnering with business owners [...]
UK’s FCA to create 100 jobs through launch of new Leeds offices August 2, 2022 The UK’s financial watchdog today set out plans to hire 100 new staff at its newly opening Leeds office as it looks to bolster its headcount this year and meet the demands of an expanding regulatory remit. The UK’s Financial Conduct Authority (FCA) announced it has signed a lease for premises on 6 Queen Street, [...]
Virgin Money reports jump in accounts as lender braces for cost of living crunch August 2, 2022 Virgin Money boss David Duffy said the lender was braced to support customers through a cost of living crunch today as the high street lender reported a jump in digital personal and business accounts in the third quarter of the year.
London markets lose early gains despite UK banks’ best efforts August 1, 2022 A bumper crop of results from Britain’s largest lender and Asia-focused HSBC initially boosted London markets today, before an afternoon collapse. The capital’s premier FTSE 100 index dropped 0.13 per cent to 7,413.42 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 0.22 per [...]
HSBC hits back at Ping An calls to carve out Asia business August 1, 2022 HSBC today hit back at intense pressure from its biggest shareholder to spin out its Asia business. The chief of Britain’s largest lender, Noel Quinn, said HSBC’s “strength as a well connected, global institution is the main reason our wholesale clients choose to bank with us”. “We are determined to capitalise on the advantages our [...]
UK financial watchdog cracks down on marketing of ‘high-risk’ financial products August 1, 2022 The UK’s financial watchdog has vowed to crack down on those using “unclear” and “misleading” information to sell risky investments after bringing in tough new rules around the marketing of high-risk financial products. The Financial Conduct Authority’s (FCA’s) “stronger” rules require firms to use clearer and more prominent risk warnings, and ban companies from [...]
UK launches register of overseas property owners in clampdown on ‘corrupt elites’ August 1, 2022 Individuals that own UK properties via chains of “secretive” shell companies will from today be forced to reveal their true identities, after the UK government launched a new register of UK property owners today. The first-of-its-kind register will require those seeking to buy or own UK property via offshore entities to list the identities of [...]
MPs urge Liverpool FC to cut ties with Standard Chartered over support for Hong Kong security law July 31, 2022 MPs have urged Liverpool football club to break its sponsorship deal with Standard Chartered over the the bank’s past support for a draconian national security law in Hong Kong. In a letter to Billy Hogan, the football team’s CEO, MPs and peers from the All-Party Parliamentary Group on Hong Kong highlighted that following mounting authoritarianism [...]
NatWest shock profits lift London’s FTSE 100 July 29, 2022 London markets were boosted by investors piling into NatWest after it announced it will hand back £2.1bn to investors. The capital’s premier FTSE 100 index climbed 0.39 per cent to 7,374.25 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 1.32 per cent to [...]
Standard Chartered announces fresh £410m share buyback programme on profit surge July 29, 2022 Asia-focused British bank Standard Chartered today announced a fresh $500m (£410m) share buyback programme. Higher interest rates boosted the lender’s bottom line, with pre-profits climbing eight per cent to $2.77bn (£2.3bn) in the six months to June. In the second quarter alone, profits surged 12 per cent to $1.3bn (£1.1bn), above analysts’ expectations, sending its [...]