Tale of two cities: London leaps ahead in global finance but domestic growth stalls Economics The City of London has cemented its dominance in international finance ten years on from the Brexit vote but faced sobering domestic growth that failed to match the momentum. The capital sees more international activity conducted than the next eight largest financial centres in Europe combined, according to a new report by New Financial. The [...]
Financial services contributed a tenth of UK economic output in 2025 Economics The financial services sector contributed over a tenth of the UK’s economic output in the last year as the industry’s productivity outpaced average momentum. The industry provided a £290bn boost to the UK’s real GDP – a macroeconomic measure that adjusts the value of economic output for inflation – in 2025 marking around 11 per [...]
Monzo and Revolut take banking battle to the playground Opinion Banks are turning their attention to the younger generation and in this week’s column Samuel Norman takes a look at the money to be made with Gen Alpha. The Tooth Fairy is losing her magic touch. After centuries of cultural dominance in the under-the-pillow money market, the primary dealer of calcium-for-cash faces a hostile takeover. [...]
Firms must move faster to prepare for T+1 April 23, 2025 Two thirds of the global investment industry is now preparing for the UK’s transition to a shorter settlement window, but more firms should act now to avoid a last minute scramble, says Chris Elms A new survey of financial firms reveals that almost two thirds of the global investment industry is now actively preparing for [...]
Reeves told to improve investment incentives by industry bosses February 19, 2025 Rachel Reeves has been told by top global financial firms she needs to ease investment taxes, sources told Reuters. In a meeting with executives from JPMorgan, BlackRock, Goldman Sachs, Morgan Stanley, Citi, Fidelity, Schroders and abrdn on Wednesday, Reeves was told to improve tax incentives for UK consumers. The latest summit in Reeves’ bid for [...]
Wealthiest adults do not financially plan for marriage February 13, 2025 Only one in five of the UK’s wealthiest adults discuss financial planning ahead of marriage, according to fresh research. Among a survey of 500 UK adults, who have at least £1.5 million in investable assets or total assets of £15 million, 93 per cent agreed planning for unexpected life events, such as divorce, was crucial [...]
Financial advisers are getting old. What happens when they retire? July 23, 2024 With the average age of a financial adviser rapidly approaching 60, the industry is preparing for a reckoning as they frantically attempt to replace those departing.