EU banking rules could ‘choke investment’ from booming City Banking The European Union threatens derailing its economic growth through changes to banking regulation after London beefed up its lending capacity following a Brexit boom. The 27-state bloc is set to bring in new legislation which will effectively ban non-EU banks from providing core banking services – such as lending and taking deposits – without establishing [...]
Budget whiplash: How bank shares were hit by the Treasury’s ‘hokey cokey’ leaking Banking Last week the House of Commons speaker reprimanded the Treasury for what he called a “hokey cokey” Budget. “Can I just say it isn’t normal for a Budget to be put in the press,” Sir Lindsay Hoyle said in his dressing down of ministers. “One minute it’s in, next minute it’s out.” Few sectors have [...]
Exclusive: Tandem to name ex-Vanquis chief as new boss Fintech Digital lender Tandem will this week name the former boss of specialist lender Vanquis and Sainsbury’s retail banking arm as its new chief executive, City AM can reveal. The fintech challenger is set to appoint Neil Chandler, who will replace outgoing chief Alex Mollart. Chandler has most recently served at the helm of digital Banking-as-a-Service [...]
Peel Hunt: Bonuses scrapped for third year running June 18, 2025 Peel Hunt has scrapped bonuses for its top executives for a third year running as losses at the investment bank continued. Chief executive Steven Fine took home a pay packet of £465,000 for the year to 31 March, 2025, while chief financial and operating officer Sunil Dhall received £316,000, according to its latest annual report. [...]
HSBC UK to slash bonuses for staff not turning up to office May 21, 2025 HSBC has told its UK-based retail workers that failing to show up to the office could see their bonuses slashed. Europe’s biggest bank informed staff in the retail and domestic commercial arm that if they are not following the firm’s three-day minimum requirement to work in office they could be paid less as a result. [...]
Mark Kleinman: Bonfire of the regulators just beginning February 13, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column. This week, he tackles churn at the regulators, bankers’ bonuses and dilemmas at Deliveroo. Bonfire of the regulators is just beginning For Marcus Bokkerink, read Abby Thomas? The chief executive of the Financial Ombudsman Service last [...]
JPMorgan follows Goldman Sachs in scrapping EU bonus cap for London staff June 19, 2024 Wall Street giant JPMorgan Chase has become the latest bank to scrap an EU-imposed cap on its UK staff's bonuses, after rival Goldman Sachs made the same move last month.
Barclays opens door to bigger bonuses as it eyes investment bank rebound May 9, 2024 Barclays shareholders have waved through a proposal paving the way for it to award bigger bonuses to its top UK bankers as the lender reiterated confidence in its dealmaking arm.