Deutsche Bank taps US general counsel to lead white collar crime unit May 18, 2021 Deutsche Bank has tapped its US general counsel to become global head of anti-financial crime and group anti-money laundering officer, the lender said today. In a memo to employees seen by Reuters, the German banking giant said Joe Salama would head up its efforts to crack down on white collar crime. Deutsche Bank has come [...]
JP Morgan Chase: Potential successors to Jamie Dimon move up as Pinto becomes sole president May 18, 2021 In a reshuffling of its top ranks, JP Morgan Chase has raised up two potential successors to chief executive Jamie Dimon while co-chief operating officer Gordon Smith will step down from his roles at the end of 2021. The two possible earmarked successors, Marianne Lake and Jennifer Piepszak, will take new roles as Daniel Pinto [...]
Frost: City of London needs to ‘get on and do its own thing’ post-Brexit May 18, 2021 Lord David Frost has said City of London firms need to “get on and do its own thing” post-Brexit as he signals that equivalence is unlikely. Boris Johnson’s UK-EU relations minister also told a House of Lords committee today that Brussels will continue to take decisions on equivalence that are “in their interest”. UK financial [...]
Brexit post-mortem for the City: London’s ‘Golden Age’ is over, warns NatWest chair Howard Davies May 18, 2021 The City of London’s will remain a global financial centre but may not see the ‘golden age’ again, according to NatWest bank chairman Howard Davies. “Almost five years after the Brexit referendum, and five months after Britain’s exit from the European Union, the future of London as a global financial centre seems secure,” the City [...]
Uncertain times, strong performance May 18, 2021 | Sponsored Watch Alex Crooke, Fund Manager of The Bankers Investment Trust, in the Trust TV studio as he looks back on an extraordinary year for global markets and discusses the particular challenges he faced. Alex will also outline his views on the optimal global asset allocation, the outlook for dividends in 2021 and beyond, his approach [...]
Santander UK customers hit by technical problems May 15, 2021 Santander customers in the UK are currently unable to withdraw money from the Spanish bank’s cash machines or access online services due to a technical problem. The lender, which has around 14m customers in Britain, said that the issue was affecting branch, telephone, online app and card services. “We’re aware of a technical issue affecting [...]
Sanjeev Gupta pulls funding for troubled Wyelands Bank May 14, 2021 Sanjeev Gupta’s Wyelands Bank is set to be sold or would-up after its accounts revealed that repayments on 80 per cent of its loan book were overdue. The move, reported by The Times, came after the Bank of England ordered Wyelands to repay £194m to its retail depositors in March. The bank said yesterday that [...]
Brexit transfers: Barclays, Goldman Sachs and Morgan Stanley move senior City dealmakers to the EU May 14, 2021 Investment giants Morgan Stanley, Goldman Sachs and Barclays have started to move a range of senior bankers from their offices in Canary Wharf and the City to financial hubs across the EU. Ongoing uncertainty over the UK’s access to the EU’s financial services market, combined with pandemic damage and pressure from local regulators, has led [...]
Too late for UK-EU ‘fish for finance deal, say City of London Corporation May 13, 2021 It is too late for the UK to strike a “fish for finance deal” with Brussels to ensure the City gets renewed access to the EU, according to a top City of London Corporation official. Nick Collier, managing director of the City of London Corporation in Brussels, said at a Best for Britain event today [...]
City lobby pays off: New finserv compensation pot for consumers slashed by more than £200m May 13, 2021 The amount of money banks and other financial institutions will have to pay into an insurance pot to protect customers should one of them fail has been slashed from an earlier estimate, after they protested about the high levels. The Financial Services Compensation Scheme (FSCS) reduced the total levy by £206m from its January forecast. [...]