HSBC considers leaving Canary Wharf HQ September 29, 2022 HSBC is considering leaving its iconic Canary Wharf headquarters when its lease expires in early-2027. The bank is carrying out a review of “the best future location in London” for its global headquarters, according to an internal memo seen by Financial News. HSBC’s options include either renovating its current building or moving to another London [...]
City Of London Corporation elects business veteran Nicholas Lyons as 694th Lord Mayor September 29, 2022 The City of London has elected Nicholas Lyons as its 694th Lord Mayor. The father-of-four and veteran business leader was announced as the new head of the Square Mile today, taking over the year-long role from Vincent Keaveny. Lyons, who has worked in the City for more than 40-years, pledged to represent financial and professional [...]
Ex Bank of England governor Mark Carney: Government ‘undermining’ financial institutions September 29, 2022 Sir Mark Carney, the former Bank of England Governor, has said the government’s mini-budget tax cuts are “working at some cross-purposes” with monetary policy. The economic accused Liz Truss and Kwasi Kwarteng of “undercutting” financial institutions, after last week’s mini-budget sent markets into turmoil, and the pound plummeting. Speaking to the BBC, his comments came [...]
Government has a second chance – it can’t fluff its lines yet again September 28, 2022 The UK Economy: Apocalypse Now? Black Wednesday, Mark 2? Not quite. But if social media’s hot takes on the state of the UK economy are wide of the mark, the pressure on Kwasi Kwarteng and the Bank to restore credibility is now immense. The good news is that will not be as difficult as some [...]
Amigo shareholders rebel over chief’s £600k paypacket September 28, 2022 Beleaguered lender Amigo Loans faced a rebellion from shareholders today as nearly half of its investors voted against a proposed £600,000 pay packet for its chief executive.
Banks need WhatsApp alternative fast to dodge hefty fines, warns former FCA official September 28, 2022 Banks and brokerages need to roll out new messaging platforms fast to “crack down” on the use of Whatsapp by staff, a former City regulator warned today, after US regulators slapped a group of Wall Street giants with $1.8bn worth of fines.
JPMorgan set to double UK headcount of digital bank Chase September 28, 2022 JPMorgan is planning to double the headcount of its British digital bank Chase in the next two years as it looks to guzzle up market share from the UK’s fintech lenders.
Ex Bank of England deputy governor: Impact of cuts from mini-budget may spell end for NHS September 28, 2022 A former deputy governor of the Bank of England has warned the NHS faces an existential threat as a result of government tax cuts and fiscal plans. Sir Charlie Bean, who is also a member of the Office for Budget Responsibility, said the government has lost confidence of markets and “the thing about credulity is [...]
Citi swoops in for Credit Suisse veteran Jens Welter September 28, 2022 A top executive has quit his job at beleaguered bank Credit Suisse for Citigroup just nine months after being made co-head of global banking. Jens Welter ended his 27-year career with the Swiss bank where he became a top adviser, and will join Citi as the new co-head of European investment banking. He will also [...]
TP Icap under pressure to sell off high-margin Parameta data division September 27, 2022 FTSE 250 finance firm TP Icap is facing pressure from some of its biggest shareholders to break itself up by selling off its high margin data division. Several of the firm’s most important institutional investors have begun talks about pressing TP Icap into exploring a formal sale of its Parameta analytics business, Sky News reported. [...]