Dead cash: Over £230bn in millions of UK life insurance policies at risk of going unclaimed November 11, 2021 Over £230bn worth of life insurance policies is at risk of going unclaimed in the UK, according to new data shared with City A.M. this morning. Millions of widows and widowers or child beneficiaries could be missing out on billions in life insurance payouts, as nearly one fifth (18 per cent) of Brits had not told their [...]
What everyone warned for is now a fact: Supply chain woes are slowing UK economic growth November 11, 2021 The ONS said this morning that UK economic growth slowed sharply between July and September. The official figures show this is largely due to the ongoing supply chain problems. The economy expanded by 1.3 per cent between July and September, down from growth of 5.5 per cent in the previous three months. The ONS said [...]
Investors must buckle up as inflation-triggered volatility is set to shake markets, warns City insider November 10, 2021 Investors must avoid complacency and buckle up as inflation-triggered volatility is set to shake markets until the end of 2021, an asset management veteran warns today. The warning from Nigel Green, chief executive and founder of deVere Group, a large asset management and fintech firm, comes as Chinese stocks plummeted to almost their lowest level in [...]
Tsunami of resignations in war for talent hampers businesses’ growth across UK November 10, 2021 Fierce competition for talented new hires is forcing business leaders across the UK to compromise on the quality of their recruitment, while almost half saying they are not confident in being able to attract the right talent to fulfil their businesses growth potential. A wave of resignations, by professionals joining another company or making a [...]
City Moves: Who’s switching jobs in the Square Mile today? November 10, 2021 Deloitte Deloitte has posted a new partner to its financial advisory practice, who is set to head real estate mergers and acquisitions (M&A) for the sector. Bringing 17 years experience in M&A and principal investments to the position, Abhishek Jaiswal joins the Big Four firm from Bank of America where he was a lead real [...]
How financial services must respond to the Chancellor’s challenge to the sector at COP26 November 8, 2021 | Sponsored The major surprise announcement for the UK’s financial sector at COP26 came this week in the form of a pledge by the Chancellor, Rishi Sunak, for the UK to become the ‘world’s first net zero aligned financial centre.’ This very bold ambition, which we see as a natural leadership step for the UK to take [...]
City law pay war intensifies: Ropes & Gray raises new lawyer salaries to eye-watering £147k November 5, 2021 Ropes & Gray has hiked the salaries of newly qualified lawyers in London by 13 per cent, as the bidding war for legal talent intensifies. Freshly qualified lawyers at the London offices of the US law firm will now take home £147,000 – with their bonus added on top – marking a neat step up [...]
City Moves: Who’s switching jobs in the Square Mile today? November 5, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Growthdeck Private equity firm Growthdeck has added the former chief investment officer at Schroders & Co to its advisory board. Bringing 25 years experience to the position, Kieron Launder has worked with a string of top financial [...]
Stephenson Harwood raises newly qualified lawyer salaries to £90,000 November 4, 2021 Stephenson Harwood have raised salaries for newly qualified solicitors by 20 per cent to £90,000, as City law firms fight to attract and retain legal talent in an increasingly competitive market. While newly qualified lawyers enjoy a jump up from £75,000, staff across different levels will receive bumpers, ranging from 8-17 per cent, to their [...]
Inflation to peak at five per cent, warns Bank of England November 4, 2021 The Bank of England will persistently miss its inflation target over the next two years, according to fresh forecasts published by the Old Lady today. Officials on Threadneedle Street expect the rate of price rises to peak at five per cent in April next year and stay above its two per cent target in two [...]
