UK to start talks with Switzerland on post-Brexit financial services deal January 27, 2021 Chancellor Rishi Sunak will today start formal talks with his Swiss counterpart in a bid to broker a new post-Brexit financial services agreement for the UK. The Treasury said the talks would see the two sides try to deliver “a comprehensive mutual recognition agreement that would reduce costs and barriers for UK firms accessing the Swiss [...]
Exclusive: Sadiq Khan to bang the drum for City of London at World Economic Forum January 27, 2021 Exclusive: Sadiq Khan to bang drum for EU-City deal at World Economic Forum
Difficult headlines shouldn’t scare firms off admitting they’ve got work to do on equality January 27, 2021 When it comes to equality in business, it’s fair to say that very few companies are truly where they want to be yet – being honest about this is uncomfortable but important. In November 2014 we first published our gender pay gap, and four years ago we published our ethnicity pay gap. While I was [...]
Goldman Sachs boss hit with $10m pay cut due to 1MDB scandal January 27, 2021 Goldman Sachs boss David Solomon took a $10m pay cut last year due to the bank’s role in Malaysia’s 1MDB scandal. Soloman’s pay was reduced 36 per cent, from $27.5m in 2019 down to £17.5m last year, the investment bank said. It had previously confirmed that Soloman’s pay would be cut, along with finance chief [...]
Barclays boss Jes Staley: working from home ‘not sustainable’ as collaboration and culture take a hit January 26, 2021 Barclays boss Jes Staley says working from home 'not sustainable' as collaboration and culture take a hit
HSBC boss stands by bank’s support for Hong Kong’s freedom of speech crackdown January 26, 2021 HSBC’s chief executive has today stood by statements made by himself and another senior executive in support of Hong Kong’s draconian national security laws that clamp down on freedom of speech. Noel Quinn told MPs today that laws were needed to “stablise” the region last year and said there was no situation in which he [...]
‘Robots will take our jobs’: Eigen boss Lewis Liu on the future of the City worker January 26, 2021 It’s very rare a chief executive will say their work will lead to mass job cuts, not least one of an artificial intelligence firm. But Eigen Technologies’ Lewis Liu is not like your everyday boss. He is surprisingly frank in an industry that does an impressive job of spinning mass job cuts. “I’m not going [...]
Ex-EU commissioner says Brussels will not do City of London ‘any favours’ post-Brexit January 26, 2021 The UK’s former financial services commissioner to the EU has warned the City of London that Brussels is trying to overturn its status as a leading global financial centre. Lord Jonathan Hill, who also served as a minister under David Cameron, said the EU would “not do us any favours” and that it was certain [...]
UBS cautious on economic outlook despite 137 per cent jump in profit January 26, 2021 The world’s largest wealth manager has reported a net income of $1.71bn in the fourth-quarter of 2020, a 137 per cent leap on the previous year. The Swiss bank praised its own performance in a results statement released this morning but warned of the challenges facing the world in the economic recovery from Covid-19. All [...]
Top official warns of ‘disturbing’ amount of Russian money laundering in UK January 25, 2021 One of the UK’s top officials in monitoring economic crime has today warned about the “disturbing” prevalence of Russian money laundering in London, claiming up to half of all money laundered from the country is done through the UK. Graeme Biggar, director general of the National Economic Crime Centre, told MPs today that it was [...]