Barclays to up junior bankers’ base pay to $100,000, following Wall Street rivals June 30, 2021 UK bank Barclays is expected to increase base pay for junior bankers to $100,000 amid an exodus of young workers. The pay hike would bring the company’s rates in line with those announced by JPMorgan this week. In April, Bank of America also increased junior banker salaries by up to $25,000. While the changes are expected [...]
UK banks’ profits slashed by more than half June 28, 2021 Big UK banks’ profits have slid by more than half over the last year, according to a ranking of the world’s largest lenders published today. UK lenders included in The Banker’s top 1,000 World Banks 2021 experienced a 53 per cent drop in profits. Losses were attributed to the severe damage the pandemic has inflicted [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 23, 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. Barclays Corporate Banking appoints new head of real estate Barclays has appointed a new head of real estate for corporate banking this week, following the retirement of the former-lead. Jason Constable, [...]
JPMorgan, Barclays, Citi and Nomura among banks cleared for €800bn EU bond sale June 18, 2021 Nomura, Unicredit, Credit Agricole, JPMorgan, Citibank, Barclays, Bank of America and Deutsche Bank have been cleared to take part in the EU’s next syndicated debt sale. The proceeds will form the basis for the European Commission’s €800-billion Covid recovery fund, a Commission source told Reuters this afternoon. The Commission is reportedly still assessing whether two [...]
Ex-Barclays CEO Antony Jenkins’ BlackRock-backed fintech firm raises $187m June 16, 2021 Ex-Barclays CEO Antony Jenkins' BlackRock-backed fintech firm raises $187m
Rishi Sunak promises to protect the City from Brussels’ financial services bid June 8, 2021 Rishi Sunak, the Chancellor, promised that the City will remain “competitive and dynamic” even in the face of Brussels’ bid to unseat it from its crown, in a private call with banks. Sunak described the financial services industry as a “crown jewel” and, according to reports, said the country will fight to protect it. The [...]
Amanda Staveley’s appeal refused in Barclays ‘lifeline loan’ case June 7, 2021 Businesswoman Amanda Staveley’s appeal to overturn a court’s verdict against her in her case against Barclays has been refused, a court filing seen by Reuters today showed. A London High Court judge in February found Barclays guilty of “serious deceit” over how the British bank negotiated a lifeline with Amanda Staveley during the 2008 financial [...]
Former Barclays boss in line for £200m windfall as Blackrock takes 10x stake June 5, 2021 Former Barclays boss Antony Jenkins is said to be on the brink of a deal that will see his personal wealth surge by £200m as Blackrock funds close in on his new fintech venture. Jenkins, who was ousted as chief executive of Barclays in 2015, is close to selling a stake in 10x Future Technologies [...]
Metro Bank bolsters UK call centre operations with new Bristol branch June 4, 2021 Metro Bank has launched a new customer call centre above its Bristol store this week, another bank bolstering its call centre operations in the UK. Delayed slightly due to Covid-19, the opening of the new centre, called AMAZE Direct, has created over 100 jobs. The challenger bank’s shares lifted 2.2 per cent this morning, taking [...]
Exclusive: Meet the former UBS and JPMorgan heavyweights shaking up private banking May 28, 2021 As the economy is slowly switching into recovery gear, activity in the City and beyond is starting to pick up again. That is also the case for Vestrata, a relatively new fintech player that is taking the wealth management and private banking space by storm by bring machine learning and automated risk metrics into the [...]