Weathering the storm: City expects minimal Brexit impact on jobs February 5, 2019 The number of City jobs expected to move overseas in the event of a hard Brexit has fallen to just 2,000 – according to the latest survey of financial institutions. A Reuters study also suggests that investment banks are planning to increase their London headcount. In September, the Reuters survey showed that 5,766 jobs would [...]
Two Barclays employees killed in Italian avalanche February 5, 2019 Barclays confirmed today that two of its employees were killed in an avalanche in the Italian Alps on Sunday. Matt Ziegler, 43, an in-house lawyer at Barclays, and Katherine Clarke, 39, a director in Barclays private bank and overseas service, were among four people killed in the avalanche on Sunday. A spokesperson said in a [...]
Revealed: The 10 fintech startups in Barclays’ 2019 Techstars accelerator February 1, 2019 It's that time of year again: Barclays has unveiled the 10 startups that have made the cut for its annual fintech accelerator programme, powered by venture capital giant Techstars. Now in its sixth year, the 13-week programme puts the young companies through an intensive training course with access to mentorship from Barclays and industry experts, and [...]
Barclays fraud allegations implicate Qatar, says trial judge January 31, 2019 The jury in the trial of four former Barclays executives charged with conspiracy to commit fraud have been told that Qatari entities would be implicated if the prosecution’s case proves correct. Justice Robert Jay warned of the potential repercussions of the case, in which the ex-bank bosses stand accused of making secret payments to Qatar [...]
Barclays gets go-ahead to shift £160bn of assets to Dublin amid Brexit uncertainty January 30, 2019 Barclays has been given the green light to transfer £160bn of assets to its Irish business as the bank “cannot wait any longer” to implement its no-deal Brexit strategy amid ongoing political uncertainty. A High Court judgement revealed that the bank is pushing forward with its Brexit contingency plan to transfer all of its European [...]
Barclays boss feared payments to Qataris could be seen as a ‘bung’ January 30, 2019 A Barclays boss feared that fees paid by the bank to Qatari investors might be see as a “bung”, a court was told today. Richard Boath, one of four former Barclays executives charged with conspiracy to commit fraud, told investigators two advisory services agreements (ASAs) that form the crux of the Serious Fraud Office’s (SFO) [...]
Should we be worried about the rise of the Bank of Mum and Dad mortgage? January 30, 2019 In the years leading up to the financial crisis, it was relatively easy for wannabe homeowners to get loans for the full value of a property – otherwise known as a 100 per cent loan-to-value mortgage. Of course, we know the problems caused by these mammoth loans, and since then, affordability criteria have become stricter [...]
Ex-Barclays executives ‘made secret Qatar payments to avoid government bailout’, court told January 23, 2019 The ex-boss of Barclays and three former executives were accused today of committing fraud to avoid a government bailout at the height of the financial crisis. The case, filed by the Serious Fraud Office (SFO), says senior Barclays employees made secret payments to Qatar in exchange for substantial investment in the bank, in order to avoid [...]
This is the year for businesses to find their purpose in life January 22, 2019 One year ago, BlackRock chief executive Larry Fink called on businesses to define their societal purpose, sending a message to the corporate world that working towards profit alone was no longer good enough. Last week, Fink’s push towards purpose was in the papers again, when a hacker concocted an elaborate hoax in the form of [...]
London fintech Marketinvoice lands £56m in funding from Barclays and Santander January 21, 2019 London-based fintech business lender Marketinvoice has today closed a £56m round made up of equity and debt funding, led by Barclays and Santander's venture arm Innoventures. The series B-stage equity funding, which amounted to £26m, also received significant participation from European venture capital firm Northzone, which has previously backed the likes of Spotify, Trustpilot and fellow fintech lender Zopa. [...]