Barclays appoints former Rothschild veteran Nigel Higgins as next chairman November 1, 2018 Barclays has confirmed that Rothschild deputy chairman Nigel Higgins has been lined up as the replacement to current group chairman John McFarlane, following a six month search process. The switch-over, which was revealed by Sky News earlier this evening, is scheduled to take place after the bank's annual general meeting in May 2019. However Higgins [...]
We must turn the page on the public perceptions of finance November 1, 2018 A company needs to stand for something more than making money. Sustainability matters more than profit. The mission should be a lasting contribution to society that finds a balance between all stakeholders. Those aren’t the words of a pious left-wing hand-wringer but of John McFarlane, chairman of Barclays, in an anthology of writing published this week [...]
Serious Fraud Office chief steps back from Barclays case over conflicts October 28, 2018 The new director of the Serious Fraud Office (SFO) Lisa Osofsky has recused herself from the prosecution of four former Barclays bankers over potential conflicts of interest. The fraud office said she had delegated responsibility for the case to the SFO’s general counsel Alun Milford to “avoid any potential conflict” thrown up by previous private [...]
SFO loses bid to reinstate charges against Barclays over 2008 Qatar deal October 26, 2018 The Serious Fraud Office (SFO) lost its bid today to reinstate charges against Barclays over a Qatar loan it made at the height of the financial crisis. The High Court today ruled against the SFO's appeal of an earlier court ruling in favour of the bank. Barclays will now face no regulatory sanctions over the 2008 [...]
Standard Chartered opposes animal testing as it tightens environmental policies October 25, 2018 Standard Chartered will no longer finance clients who test cosmetic products on animals, it said today as it announced a raft of tightened environmental and social policies. The emerging markets-focused bank will also avoid financing plantation or livestock ranches that degrade High Carbon Stock forests, peatlands or legally protected areas, or operations that grow, process [...]
Jes Staley seeks to brush off Bramson challenge but Barclays still faces the headwinds October 24, 2018 Barclays CEO Jes Staley struck a bullish tone yesterday, insisting his investment banking division was on the up. Third quarter profits jumped to £1.5bn, up from £1.1bn a year ago. If this puts a spring in Staley's step, there are plenty of items in his in-tray to pull him back down to earth – not [...]
Barclays prepares for hard Brexit as Irish expansion gathers pace October 24, 2018 The chief executive of Barclays said the bank is fully prepared for a hard Brexit as its Irish expansion plans gather pace. Jes Staley said it would be business as usual for customers after Britain leaves the EU on March 29. The bank will use its Irish subsidiary as a central European hub to guard [...]
Serious Fraud Office presses for criminal charges to be reinstated against Barclays October 22, 2018 The Serious Fraud Office (SFO) is pressing to get criminal charges reinstated against Barclays related to its capital raising arrangements at the height of the financial crisis. The high street bank and four former executives were charged with conspiracy to commit fraud and the provision of unlawful financial assistance in 2017, connected to a deal [...]
Industry heavyweights from Barclays, RBS and Coutts back new personal investment robo-adviser Pia October 22, 2018 Big-name former executives from institutions such as Barclays, HSBC and Coutts are behind a new startup aiming to help consumers navigate the world of investing. Pia, an online "personal investment assistant" scheduled to begin its launch in summer, counts advisory board members such as T Rowe Price Global Investment Services' former chief executive Todd Ruppert, [...]
London Stock Exchange dividends jump amid banking and mining growth October 22, 2018 Shareholders were graced with a bumper third quarter of dividends this year, as a weakened pound and a strong showing from financial and mining firms bolstered payouts. UK dividends climbed 4.1 per cent in the last three months, hitting an all-time third-quarter high of £32.3bn. Underlying payouts, which exclude special dividends, reached £31.6bn, a rise [...]