HSBC, Goldman Sachs and Barclays are among the banks being investigated for gold price rigging February 24, 2015 The US is looking into whether the world's biggest banks have rigged the prices of precious metals such as gold, silver and platinum. The Department of Justice (DoJ) and Commodities and Futures Trading Commission (CFTC) have launched the investigation following of a series of scandals in which banks altered benchmark rates to make [...]
Winton Capital Management poaches former Barclays chair Sir David Walker February 23, 2015 Winton Capital Management, the $28bn (£18.1bn) hedge fund led by Cambridge physicist David Harding, yesterday split its chief executive and chairman roles by appointing outgoing Barclays chair Sir David Walker. Walker, who will step down from Barclays in April after three years, will take up the chairman’s role in July and chair his first Winton [...]
Bonuses down despite strong year for Britain’s biggest banks February 19, 2015 Payouts for top bankers have taken a tumble so far this year, according to industry data seen by City A.M., as the bonus cap combined with investor and political pressure takes its toll. Preliminary data from pay benchmarking site Emolument.com shows bonuses for front office staff falling precipitously this year compared with last year’s pay [...]
UK tech sector set to grow four times faster than GDP this year, and strong leadership is crucial February 10, 2015 Britain's technology sector is set to grow four times faster than GDP this year, according to a survey by Barclays. By asking owners and chief executives of technology firms across the country, the bank found that on average, businesses expected a growth of 11 per cent over the course of 2015. By comparison, [...]
How to become a banker: Barclays launches apprentice scheme just for people over 50 February 8, 2015 A couple of generations ago, many people would have been planning retirement by the time they reached their 50s. But now that we are living longer, we also have to work longer to support ourselves. In some cases, that means starting on a new career path late in life. Barclays is about to [...]
Boris Bike sponsorship deal: Santander reportedly in line to beat Coca-Cola as Barclays replacement February 5, 2015 Santander UK is reportedly on the cusp of signing a £50m deal which would see it replace Barclays as the main sponsor of London's Boris Bike scheme. The deal would see Santander UK pay up to £7.5m annually for seven years, putting its red-and-white branding in the place of the blue hues currently offered by Barclays. [...]
Barclays, HSBC, Standard Chartered, Lloyds and RBS credit ratings slashed as states promise no more bailouts February 3, 2015 Britain’s biggest banks saw their credit ratings chopped back last night by Standard and Poor’s, as the agency believes the government is serious in its promise to let bad banks fail. While ratings are normally cut when a firm performs poorly, in this case the move reflects the shift in risk from the taxpayer and [...]
Barclays picks Jonathan Moulds to ring fence the bank January 14, 2015 Barclays hired former Bank of America Merrill Lynch executive Jonathan Moulds yesterday to split the bank up to fit incoming ring fence law. Implementing the rules which split the investment banking arm from the retail banking and payments systems represents a major challenge for the new chief operating officer. Domestic rivals such as Lloyds [...]
Barclays appoints former Bank of America executive as chief operating officer January 14, 2015 Barclays has called upon a former senior executive at Bank of America Merrill Lynch to step into the role of chief operating officer. Jonathan Moulds will join the British bank in February in a role that has remained vacantsince Jerry del Missier walked away amid an interest-rate rigging scandal in 2012. Antony Jenkins, Barclays [...]
Bob Diamond ditches Barclays Wealth as his charity’s bankers January 4, 2015 Former Barclays boss Bob Diamond has hired State Street as the banker for his charitable foundation, its annual report shows. The Diamond Family Foundation used to use Barclays Wealth as its bankers, alongside PwC as its auditors. But its latest financial report shows that Diamond’s charitable unit picked US bank State Street instead for the [...]