Schroders profit drops amid weak investor sentiment August 1, 2019 Schroders suffered a 14 per cent profit drop despite a rise in assets under management as it warned investors that it sees “headwinds across the industry”. Read more: Janus Henderson struggles to shake client jitters as outflows mount up The figures Profit before tax fell 14 per cent year on year to £319.3m for the [...]
Standard Chartered hikes profits despite US-China trade war impact August 1, 2019 Standard Chartered boosted profits in the first six months of 2019, but warned of the impact of the US-China trade war on global market sentiment. Read more: MPs turn up the heat on Standard Chartered boss in pension pay row The figures Underlying profit before tax increased 11 per cent year on year to $2.6bn [...]
Barclays boosts first-half profit 82 per cent to £3bn August 1, 2019 Barclays today posted first-half profit before tax of £3bn, an 82 per cent increase on the same period last year. Total income fell one per cent to £10.8bn. Return on tangible equity was 9.4 per cent, down from 11.6 per cent in the first half of 2018. The bank said it was targeting return of [...]
Mark Carney on climate change: Capitalism is part of the solution July 31, 2019 Bank of England governor Mark Carney has swung to the defence of capitalism over its role in tackling climate change, saying that the financial system is “part of the solution” in dealing with current environmental challenges. The head of Britain’s central bank said last night that “capitalism is part of the solution and part of [...]
Janus Henderson struggles to shake client jitters as outflows pass $17bn July 31, 2019 Janus Henderson has posted its seventh consecutive quarter of outflows as the asset management firm’s woes continue. Read more: Janus Henderson outflows spark declining profits The London-headquartered company reported net withdrawals of $9.8bn (£8bn) in the three months to the end of June, taking its outflow for the half-year to more than $17bn – close [...]
Credit Suisse back on track as second quarter profit soars July 31, 2019 Credit Suisse today said it is on track to meet its full-year targets after posting its strongest quarterly results in four years. The bank reported pre-tax profit of 1.3bn Swiss francs (£1.1bn) in the second quarter, up 24 per cent on the previous year. Net profit attributed to shareholders soared 45 per cent to 937m [...]
JP Morgan starts European audit review July 30, 2019 JP Morgan Chase has reportedly launched a review into its current relationship with auditors for its major European arm. The Wall Street giant has kicked off a process to look at the role currently held by PricewaterhouseCoopers (PwC) as the accountant of JPMorgan Securities. Read more: Metro Bank finance director steps down to take new [...]
Lawsuit opened over Capital One data breach which hit 100m customers July 30, 2019 A class action lawsuit has been filed in the US over a data breach at Capital One bank that saw about 100m US customers have their personal information stolen by a hacker. Read more: Equifax fined up to $700m for massive data breach Roughly 140,000 social security numbers and 80,000 linked bank details were stolen, [...]
Embattled asset manager Gam appoints Blackrock director as CEO July 30, 2019 Troubled Swiss asset management firm Gam has appointed Blackrock director Peter Sanderson as its new chief executive. Sanderson has served as head of financial services consulting for Europe, the Middle East and Africa since 2012. Read more: Activist investor pressures scandal-hit Gam over compensation Interim chief executive David Jacob, who took on the role after [...]
Metro Bank finance director steps down to take new role at Revolut July 29, 2019 Metro Bank’s finance director is leaving the embattled lender to take on a new role at fast-growing financial technology group Revolut. David Maclean is joining the digital firm after stepping down from his role at Metro Bank, which has suffered a torrid six months in the wake of a major accountancy error. Read more: What [...]