Barclays prepares to name Anna Cross as first female chief financial officer February 21, 2022 Barclays is reportedly lining up Anna Cross as its next chief financial officer, in a positive step for gender diversity in top banking roles
Morses Club shares tumble 63 per cent as ex-boss dumps £200,000 of shares before profit warning February 21, 2022 The boss of one the UK’s top doorstep lenders dumped around £200,000 of his stake in the firm just before it sounded the alarm on profits to investors today. Paul Smith, chief of Morses Club, a high-cost consumer credit provider, ditched more than half of his stake in the firm last Thursday. Smith unexpectedly left [...]
U.S. plans to sever ties with Russian banks if Ukraine is invaded February 21, 2022 The US has lined up a package of sanctions to slap on Russian financial institutions in the event of an attack on Ukraine, including barring US financial firms from processing transactions for major Russian banks.
City watchdog FCA looking to hire hundreds of new staff to get grip on consumer credit market February 21, 2022 The financial services watchdog is recruiting for a number of senior roles in a push to expand its oversight and supervision of the City’s credit space. The Financial Conduct Authority, based in Stratford, is looking for a lead supervisor for credit and debt as well as a director for consumer finance. In the publicly available [...]
More banker bonuses on the way this week February 21, 2022 Big banker bonuses are back on the table amid a robust rebound in lenders’ profits, annual results are expected to reveal this week. The City is expecting Barclays, which publishes finals on Wednesday, to register a £8.1bn profit haul, up sharply from £3.1bn in 2020 when the pandemic sent the banking sector spiralling. Investors will [...]
Credit Suisse hides mobsters, drug traffickers and money launderers’ riches, leak reveals February 20, 2022 Swiss lender Credit Suisse allowed drug traffickers, money launderers and mobsters to hide their money offshore, according to documents leaked yesterday. The trove of documents reveal Credit Suisse kept accounts for a billionaire who ordered the murder of his Lebanese pop star partner and a Hong Kong stock exchange boss jailed for bribery. The leak [...]
JP Morgan under fire for dubious $1.3bn Nigeria oil deal February 20, 2022 A bitter legal dispute between the Nigerian state and banking giant JP Morgan is due to be heard in the UK's High Court this week.
Canary Wharf rolls out flexible offices after pandemic shakes up work habits February 19, 2022 London landlord the Canary Wharf Group is planning to roll out a flexible office service for clients, as the city continues to adapt to the pandemic shakeup to work patterns.
Saturday sitdown: Whistle king Simon Topman on surviving two world wars and a global pandemic February 19, 2022 With businesses around the world managing the Covid pandemic and each facing their own set of challenges, City A.M. caught up with Simon Topman, managing director of 150-year-old ACME Whistles, to blow the whistle on how this pandemic has differed from two world wars and other global disasters. Since inventing and making the first ever [...]
Weekend chat: Traditional methods to tackle £750m fraud tsunami is like taking a knife into a gunfight February 19, 2022 From scam phone calls, text messages and emails, fake websites, falsified documents and fake insurance claims, fraud has become big business – and a big problem. In the first half of 2021, criminals stole a total more than £753m million through fraud, an increase of 30 percent compared to the first half of 2020, according [...]