Former Barclays chiefs Sir David Walker and Martin Taylor clash in Bank of England ringfence row June 3, 2015 A pair of big City beasts clashed yesterday over the incoming ringfence, designed to split retail from investment banking, one of the key structural reforms being introduced after the financial crisis. To make matters more juicy, they are both former bosses of Barclays. Sir David Walker, chairman from 2012, in the wake of the Libor [...]
Fifa crisis: UK banks HSBC, Barclays, and Standard Chartered get drawn into corruption scandal June 1, 2015 Three of Britain’s leading banks are conducting investigations into whether they cleared payments related to the ongoing Fifa corruption scandal. HSBC, Barclays, and Standard Chartered are all understood to have launched internal probes, after the FBI arrested current former Fifa executives and associates. Barclays and HSBC yesterday declined to comment. Standard Chartered said [...]
Fifa crisis: Barclays, HSBC and Standard Chartered to launch internal review following FBI investigation May 31, 2015 Barclays, HSBC and Standard Chartered are all believed to have launched internal investigations into their role in the Fifa corruption scandal that has engulfed world football this week. The British banks were all named in the US Department of Justice's (DOJ) lawsuit against 14 people – including nine Fifa officials – for racketeering, wire fraud and [...]
RBS joins Barclays in search for new corporate brokers May 28, 2015 Two of Britain’s biggest banks are both now searching for new corporate brokers, City A.M. understands, in a shake up of the sector’s relationships with the investing marketplace. UBS and Morgan Stanley are RBS’ current corporate brokers. UBS, it is understood, is highly unlikely to repitch for the role because of existing privatisation work it [...]
Banks in scramble for Barclays’ coveted broking ticket as Deutsche and Credit Suisse invited to re-pitch May 27, 2015 Barclays, the international London-based bank led by Antony Jenkins, has decided to put its broking mandate up for review after four years. The group is currently served by Deutsche and Credit Suisse as joint brokers. A source close to the bank, which is valued at around £45bn, said yesterday the decision to look for new [...]
The banks which pay the biggest bonuses: Goldman Sachs, Morgan Stanley, Bank of America, JP Morgan and Citi May 27, 2015 US banks are paying their London staff a higher bonus on average than their UK counterparts. Goldman Sachs, Morgan Stanley, Bank of America, JP Morgan and Citi took the top five spots of a new survey by salary benchmarking website Emolument, while British-based banks HSBC and Barclays came eighth and 11th respectively. While there's no official data on banker [...]
Banks clobbered by $6bn forex-rigging fine but share prices rise as penalties less severe than expected May 20, 2015 Six of the world’s biggest banks were punished with a mega $5.7bn (£3.7bn) fine by financial watchdogs yesterday after foreign currency traders were found to have rigged prices to rip off customers. Barclays, Royal Bank of Scotland, Swiss giant UBS and three US banks – JP Morgan Chase, Citi and Bank of America – [...]
Barclays and RBS share prices are rising on the back of the forex fine May 20, 2015 The share prices of British banks Barclays and Royal Bank of Scotland are on the rise following the US attorney general's announcement of a multi-billion fine for their involvement in the forex rigging scandal. The $5.6bn fine is a record-breaker, and brings the total paid to settle the forex scandal by the five banks [...]
US officials hand down multi-billion forex-rigging fine to UBS, JPMorgan, RBS, Citicorp and Barclays May 20, 2015 US officials have confirmed the multi-billion-dollar bill being paid by five of the world's biggest banks for their involvement in the forex-rigging scandal. JPMorgan Chase, Royal Bank of Scotland, Citicorp and Barclays will plead guilty to US criminal charges, paying a total of $5.6bn to settle the allegations that date back to 2007. UBS is [...]
Forex-rigging scandal: Barclays given largest fine in FCA history May 20, 2015 Barclays has been fined £284.4m by the Financial Conduct Authority (FCA) for failing to control business practices in its London foreign exchange operations. The bank's "inadequate and ineffective" control over its forex floor led to the biggest fine ever handed out by the FCA. Last year the bank opted out of a mass settlement in [...]