Bank of England rate-setter warns Trump’s tariffs will damage growth November 27, 2024 “Whether you are an economic historian, an economic theorist or a data-driven economist, the impact is clear in terms of its direction," she said.
FCA ‘strengthens’ internal whistleblowing policy after backlash November 27, 2024 The Financial Conduct Authority (FCA) has said it will look to strengthen its internal whistleblowing policy after intense criticism over its handling of complaints from former staff. The City regulator said today it will clearly lay out how its chair and other non-executives can internally share information about whistleblowers in order to protect their confidentiality [...]
Nationwide banks £2.3bn gain from Virgin Money takeover as profit tumbles November 27, 2024 Nationwide has bagged a £2.3bn gain from its acquisition of Virgin Money, setting up a windfall for members of Britain’s biggest building society.
Complaints about banks’ handling of fraud hit record high November 27, 2024 Official complaints about banks' handling of fraud have hit a quarterly record as the sector comes under new rules to reimburse scam victims.
UK proposes earlier banker bonuses in bid to boost competition November 26, 2024 UK regulators have officially laid out plans for the country’s top bankers to get their bonuses years earlier in a bid to boost competition with rival jurisdictions. The Bank of England’s Prudential Regulation Authority (PRA) and City watchdog the Financial Conduct Authority (FCA) published proposals on Tuesday to reduce the bonus deferral period for most [...]
Monzo names new finance chief in hint at listing plans November 26, 2024 Monzo has appointed former Nubank executive Tom Oldham to be its chief financial officer as the digital challenger bank hinted at its IPO ambitions.
Canaccord Genuity launches strategic review of UK wealth arm November 26, 2024 Investment bank Canaccord Genuity has reportedly launched a strategic review of its UK wealth management business amid a barrage of consolidation in the sector.
Co-op Bank unveils £90m dividend ahead of Coventry sale November 26, 2024 The Co-operative Bank is to pay out £90m to investors after reporting lending growth in the third quarter, ahead of a £780m tie-up with Coventry Building Society.
HSBC poaches Citi veteran to lead Innovation Banking November 21, 2024 HSBC has poached Citigroup veteran Emily Turner to be chief executive of its Innovation Banking arm, formerly known as Silicon Valley Bank UK. Turner is due to join the bank in February, subject to regulatory approval, succeeding Erin Platts – who will join investment firm Octopus Ventures in the new year. A 13-year veteran of [...]
‘FCA is not fit for purpose’: Motor finance lender bosses lash out November 20, 2024 Motor finance lender executives criticised the FCA performance of this sector, telling members of the Lords that the regulator is "not fit for purpose"