Perella Weinberg partners take home slice of £16m profit September 12, 2018 Bankers at M&A advisory firm Perella Weinberg took home a slice of £16m profit last year. Operating profit for last year was £16.4m, almost double the £8.4m reported in 2016, and was divided between eight partners working for the investment bank in the City. Read more: Profits bounce back at Galliford Try but bypass woes loom The highest paid [...]
Perella Weinberg partners take home slice of £16m profit September 12, 2018 Bankers at M&A advisory firm Perella Weinberg took home a slice of £16m profit last year. Operating profit for last year was £16.4m, almost double the £8.4m reported in 2016, and was divided between eight partners working for the investment bank in the City. Read more: Profits bounce back at Galliford Try but bypass woes loom The highest paid [...]
JP Morgan boss Jamie Dimon: ‘I could beat Trump… because I’m as tough as he is, I’m smarter than he is’ September 12, 2018 The chief executive of bank JP Morgan today claimed he could beat US President Donald Trump in an election. "I think I could beat Trump… because I'm as tough as he is, I'm smarter than he is," he said. Dimon, 62, who has previously ruled out a presidential run, said today that as a rich [...]
JP Morgan boss Jamie Dimon: ‘I could beat Trump… because I’m as tough as he is, I’m smarter than he is’ September 12, 2018 The chief executive of bank JP Morgan today claimed he could beat US President Donald Trump in an election. "I think I could beat Trump… because I'm as tough as he is, I'm smarter than he is," he said. Dimon, 62, who has previously ruled out a presidential run, said today that as a rich [...]
RBS warns of peer-to-peer lending and shadow banking risks September 12, 2018 Risks to the financial system are being pushed out of the regulated banking sector to less regulated areas, according to the chair of Royal Bank of Scotland (RBS). Sir Howard Davies highlighted peer-to-peer lenders and the shadow banking system as areas where systemic risks could build up in a speech today. Read more: RBS chief [...]
Gap between UK and US bankers’ bonuses widening as EU rules bite September 12, 2018 The gap between bankers’ bonuses in the UK and US is widening due to EU rules on bonus caps. Bankers in the UK have seen their bonus pool shrink nine per cent over the last three years, falling to the same level it was in 2008 at $19.6bn (£15bn). Read more: Hammond: BoE boss Carney [...]
Barclays takes on HSBC as it opens up mobile app to rival bank accounts September 12, 2018 Barclays is taking on HSBC as it opens up its app to rival banks accounts, it announced today. The high street bank will be the first to let customers bring current accounts from other providers into its mobile banking platform using Open Banking technology. The ability to aggregate accounts is already offered by HSBC's Connected Money, which uses so-called screen-scraping to access accounts at competitor [...]
Calling the shots: Celebs hit the phones in 9/11 tribute to traders September 11, 2018 It was the day the trading floor took on an extra edge of excitement. Alongside the dealers, movers and shakers earlier today, the desks of BGC featured personalities from the world of sport, showbiz and royalty, who tried their hand at making money, but this time for charity. In its annual tribute to more than [...]
JPMorgan to set up “significant” wealth management business in Luxembourg September 11, 2018 JPMorgan has announced plans to establish a wealth management business in Luxembourg as part of a corporate restructuring. The company will also merge its Luxembourg bank with its London-based bank into one legal entity – to be completed early next year, the US bank has announced. It described the restructuring plan as “long-planned”. Read more: [...]
A decade on, hubris is the lesson to learn from the tragedy of Lehman Brothers September 11, 2018 A decade ago this week, the demise of Lehman Brothers marked the height of the financial crisis. At the time, I was an economist at one of the UK’s largest financial institutions, which gave me abundant insights into the psychological biases at play, both in that institution and in the companies that it supported. Many [...]