Shawbrook has turned down an £825m takeover offer March 7, 2017 Challenger bank Shawbrook revealed today that it had rejected an £825m takeover bid by a private equity consortium. Shawbrook announced that Pollen Street Capital and BC Partners had paired up to offer 330p per share after the bank's board rejected an initial offer of 307p per share, but the board said: "Taking into account the [...]
It’s a thumbs up from the City: Over half of bankers think the Senior Managers’ Regime was a good idea March 6, 2017 Bankers have given their blessing to a recently introduced set of rules designed to increase personal accountability, the next tranche of which is due to take effect tomorrow. Over half (55 per cent) of nearly 200 senior finance execs polled by Duff & Phelps think the Senior Managers' and Certification Regime, which first came into force last [...]
A new breed of Boris bikes could soon be available at your local uni, as Santander launches crowdfunding competition March 6, 2017 Uni students could soon be zipping around campus on their own versions of Boris bikes, as Santander is launching a competition to help institutions set up their own schemes. Santander Cycles University Competition will give two universities the opportunity to get their hands on funding for a cycle scheme, while the other universities which take part will receive [...]
Deutsche Bank shares fall following restructuring revelation and fresh legal case fears March 6, 2017 Deutsche Bank shares fell over six per cent in early trading this morning after yesterday confirming plans to launch a €8bn (£6.9bn) rights issue and reports it is facing new legal action over foreign exchange trading practices. Shares in lender opened at €17.90, down from Friday's of €19.14. They have subsequently bounced back regained some lost ground, trading [...]
Monzo and Revolut cardholders can’t use their cards and might not for the rest of the day due to supplier issues March 6, 2017 Monzo cardholders are unable to use the digital challenger bank to make payments or send money and might not be able to for the rest of the day. In a notification sent to customers, the startup said there have been issues since just before 10 am on Sunday morning due to one of its suppliers [...]
JP Morgan Cazenove holds off challenge of Numis Securities as most popular City stockbroker March 6, 2017 Stockbroker Numis has closed the gap between it and JP Morgan Cazenove as the most popular broker for FTSE-listed companies. The US bank, which took over the blue-blooded Cazenove broker in 2009, retained its top position with 192 clients, according to figures from Adviser Rankings. Meanwhile, Numis acts as stockbroker for 189 companies, a gain [...]
University of Barclays: Lender to launch the UK’s first degree-level apprenticeship in banking later this year March 6, 2017 Barclays will launch a degree-level apprenticeship in banking later this year, the UK's first such offering. The programme will allow participants to study for a degree, or equivalent qualification, should they choose and will let them specialise in a range of areas of banking, including corporate, investment and retail. "We want people of all ages and [...]
Starter for three: Cambridge & Counties Bank announces record growth in deposits, lending and customer acquisition March 5, 2017 Cambridge & Counties Bank today revealed it had boosted its deposits, lending and customer acquisition by record levels in 2016. The figures The challenger bank, which launched in 2012 and is jointly owned by University of Cambridge college Trinity Hall and the Cambridgeshire Local Government Pension Fund, revealed profits before tax had leapt to £18.1m for the year ending [...]
Fresh batch of bankers to be brought within landmark accountability scheme on Tuesday March 5, 2017 Even more bankers are to be brought within the remit of the Senior Managers' and Certification Regime on Tuesday, one year after the first tranche of rules came into force. Under the Certification Regime, which is designed to increase levels of personal accountability in the financial sector, banks are required to identify any workers who could [...]
More than half a dozen fintech firms hit by outage March 5, 2017 More than half a dozen fintech startups were knocked offline on Sunday by issues with the card processing firm they use, leaving customers unable to make card payments. Digital challenger bank Monzo and Revolut, which offers real-time interbank rate exchange when travelling abroad as well as a full bank account, alerted customers early on Sunday [...]