Barclays sets aside another £750m for forex probes as profits jump and costs fall March 3, 2015 The figures Barclays' full-year adjusted pre-tax profits soared 12 per cent to £5.5bn, well ahead of the £5.3bn analysts expected for 2014. An additional £750m has been set aside for forex settlements, bringing the total to £1.25bn. Chief executive Anthony Jenkins said the bank expected to "make significant progress in this area" in 2015. A further £200m provision has also been made for [...]
Barclays Investment Bank poaches Goldman Sachs man Phil Shelley February 26, 2015 Barclays has poached Phil Shelley from Goldman Sachs to work in its investment arm in a senior UK banking role. In his job as managing director at Goldman, Shelley worked on IPOs last year including Saga and Virgin Active. He was also previously a joint-head of corporate broking at UBS. However, it is thought his [...]
Barclays launches mobile payment via Twitter name using Pingit mobile payment app February 25, 2015 Anyone in the UK can now send or receive money via Twitter, after Barclays announced a new partnership between with the social network. Using just a person’s Twitter handle, users can send or receive money with Barclays’ Pingit mobile payment app in a banking first in the UK. Pingit users can already make payments using [...]
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 [...]