Deutsche Bank boss: A ‘wave’ of European bank mergers is coming December 4, 2024 The chief executive of Deutsche Bank has predicted a “wave” of European bank mergers while playing down speculation he could make a bid for domestic rival Commerzbank. Speaking at the Financial Times’ Global Banking Summit on Wednesday, Christian Sewing said consolidation in the sector will accelerate and could be supported further by changes to regulation. [...]
Barclays, Natwest and Revolut: Top bankers chew the fat at City summit December 3, 2024 Executives, investors and even royalty turned out for the first day of Financial Times’ annual Global Banking Summit in London on Tuesday.
Natwest boss says government could exit stake in first half of 2025 December 3, 2024 The chief executive of Natwest has said the bank could return to full private ownership in the first half of 2025, a move that would draw a line under the government’s bailouts of lenders during the financial crisis. Speaking at the Financial Times’ Global Banking Summit on Tuesday, Paul Thwaite said he was “delighted with [...]
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.
Zempler Bank begins layoffs after announcing jump in profit November 27, 2024 The boss of challenger bank Zempler privately told staff he would lay off around five per cent of its workforce on Monday, just as the company publicly announced a jump in profit in its latest financial year, City AM can reveal. In an email to staff, seen by City AM, the digital bank’s chief executive, [...]
FCA fines Macquarie Bank for fictitious trades after ‘serious failings’ November 26, 2024 Macquarie Bank’s London branch has been slapped with a £13m fine for “serious failings” which allowed one of its employees to record 400 fictitious trades. The Financial Conduct Authority (FCA) penalised the firm based on activity between June 2020 and February 2022. Trader Travis Klein, based on Macquarie Bank Limited’s (MBL) London metals and bulks [...]
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.
Square Mile and Me: Megan McDonald on leading investment bank Daiwa Capital November 21, 2024 Daiwa Capital Markets Europe CEO Megan McDonald tells us how she went from selling mangoes in South Africa to the City C-suite.
Monzo warns customers their accounts may not be as secure as possible November 13, 2024 Online challenger bank Monzo has issued a warning to customers that their accounts may not be as secure as possible. The bank has urged customers to upgrade their phone’s operating system by 31 October, 2025, when it will stop sending updates to its app on systems older than iOS 16 and Android 9. Monzo added [...]
Motor finance: City watchdog considers deadline extension November 13, 2024 The Financial Conduct Authority (FCA) said firms are likely to receive a "high volume" of complaints following the Court of Appeal's judgement last month.