Rishi Sunak promises to protect the City from Brussels’ financial services bid June 8, 2021 Rishi Sunak, the Chancellor, promised that the City will remain “competitive and dynamic” even in the face of Brussels’ bid to unseat it from its crown, in a private call with banks. Sunak described the financial services industry as a “crown jewel” and, according to reports, said the country will fight to protect it. The [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 2, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Brown Advisory expands London office with senior hires Investment management firm Brown Advisory has bolstered its London office this week with two senior hires as its collection of assets hits $15bn. [...]
BoE policymaker urges regulators to probe $10bn Archegos collapse May 26, 2021 A Bank of England’s policymaker has urged that financial regulators today should have a cross-border inquiry into how the collapse of US investment fund Archegos cost banks more than $10bn. Anil Kashyap, a BoE financial policy committee member, also warned that new European Union bank capital rules could have “tragic” outcomes if abused. Archegos collapse [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 19, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Ex Co-op CEO joins Boomin’s board Property site Boomin has bagged itself a retail veteran this week, who is set to join the board as a non-executive director at its next [...]
Senior Credit Suisse bankers flee to Barclays, Goldman and Citi after Archegos disaster May 19, 2021 About a dozen managing directors at Credit Suisse have recently left the banking giant or are in the process of doing so, with most of them poached by rivals including Barclays, Goldman Sachs and Citibank. Moreover, a range of senior bankers are expected to announce their departure in the coming weeks, with several others also [...]
Brexit transfers: Barclays, Goldman Sachs and Morgan Stanley move senior City dealmakers to the EU May 14, 2021 Investment giants Morgan Stanley, Goldman Sachs and Barclays have started to move a range of senior bankers from their offices in Canary Wharf and the City to financial hubs across the EU. Ongoing uncertainty over the UK’s access to the EU’s financial services market, combined with pandemic damage and pressure from local regulators, has led [...]
Goldman Sachs director quits after making millions from Dogecoin May 12, 2021 A London-based Goldman Sachs banker has reportedly quit after making millions from investing in Dogecoin. The meme cryptocurrency has surpassed growth of any other digital currency this year, boosting its price by more than 10,000 per cent. Aziz McMahon, head of emerging market sales at the US investment bank, resigned after benefiting from the cryptocurrency’s [...]
Goldman Sachs smashes profit expectations as global M&A and SPAC boom pushes fees higher April 14, 2021 Goldman Sachs smashes profit expectations on global M&A and SPAC boom
Goldman Sachs to open Birmingham office later this year April 13, 2021 Goldman Sachs plans to open an office in Birmingham, with the investment bank hoping to have the new office up and running by the third quarter of 2021. The Birmingham office will initially be a shared space in the city centre, ahead of plans to move to a new and yet to be determined Birmingham [...]
God vs Goldman Sachs: Justin Welby slams ‘unethical’ work practices April 8, 2021 The Archbishop of Canterbury has this morning slammed Goldman Sachs over its treatment of junior staff after it emerged that some employees had been working an average of 100 hours a week. Since its “inhumane” workplace practices were made public last month, the Wall Street bank has faced severe criticism on several fronts. Speaking to [...]