City Moves: Who’s switching jobs in the Square Mile this week? August 18, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. London First completes leadership shuffle Business lobby organisation London First has strengthened its leadership team this week as it channels its focus on the capital’s return to growth, emerging from the pandemic. Former director of corporate [...]
Majority of employees opt for flexible working over a pay rise August 18, 2021 A new study has revealed that the vast majority of people would choose to work flexibly over an immediate pay rise and full-time return to the office. Nearly three quarters (72 per cent) of workers would prefer flexible working over going back to the office full time even if they were handed a 10 per [...]
FCA warns equity crowdfunding CEOs of consumers making ‘high-risk’ investments August 18, 2021 The Financial Conduct Authority (FCA) has written to the CEOs of equity crowdfunding platforms, to warn them that consumers are still making “inappropriate high-risk” investments despite the current marketing restrictions, as first reported in P2P Finance News. The FCA said crowdfunding firms should “promote investment opportunities appropriately so that consumers can understand the risks these [...]
Sturdy returns: World’s largest wealth fund swells by $111bn in just six months August 18, 2021 The world’s largest sovereign wealth fund has pulled in $111bn in the first six months of this year, some 0.28 per cent higher than the fund’s benchmark index. The $1.4 trillion Norwegian fund, Norges Bank Investment Management, posted a 9.4 per cent return on investments in its half-year financials, as the value of its equities [...]
Citi re-hires Obama aide Nathan Sheets as global chief economist August 18, 2021 Citi has re-hired Nathan Sheets as global chief economist, seven years after his departure from the bank to work under former President Obama. Sheets will return to Citi to oversee the global economics team in New York and lead research across all areas of economics. He is set to replace Catherine Mann, who left in [...]
AJ Bell boosts management and appoints fourth woman to board August 18, 2021 Investment giant AJ Bell has shaken up its management to reflect its growth plans, adding two new leadership roles and the fourth woman to a board that has previously received criticism for its lack of progress on gender diversity. The investment platform, whose total assets under administration swelled to £70.4bn in the second quarter, today announced [...]
HMRC releases excuses for not paying minimum wage: ‘I only pay them when they are actually serving someone’ August 17, 2021 The taxman has revealed the most absurd excuses it has received from businesses explaining why they are not paying staff the national minimum wage. Some of the excuses included one business owner justifying not paying their staff the national minimum wage due to their workers often being “on standby when there are no customers in [...]
Exclusive: Brexit and Covid spark UK workforce rethink as war on talent heats up August 17, 2021 Nearly half of British business leaders fear losing the UK’s best talent abroad following the pandemic and Brexit, according to new research shared exclusively with City A.M. this morning. The complexity of the decisions facing leadership as they define the next era of the workplace is illustrated in the research’s findings. For a starter, 29 [...]
Worst kept secret confirmed as Crozier moves to head up BT August 17, 2021 Adam Crozier has been confirmed as the new chairman of BT following the retirement of Jan du Plessis. It has been known for some time that Crozier would be taking up the post after The Sunday Times revealed that he had beaten off three other candidates for the post earlier this month. Crozier is an [...]
Digital banks pull ahead of high street rivals in battle for consumers’ wallets August 17, 2021 Digital banks are pulling ahead of their traditional high street rivals in the battle to deliver strong customer services, according to findings from the competition watchdog. The Competition and Markets Authority found that Monzo, Starling Bank and First Direct are the top banks for customer service in Britain. The CMA conducted a survey of 1,000 [...]
