City Moves: Who’s switching jobs in the Square Mile this week? April 7, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Tharsus adds former CEO of Dyson to its board Robotics company Tharsus has appointed former Dyson CEO to its board as a non-executive director this week. Martin McCourt, whose career spans four decades, [...]
HSBC poised to sell French retail network to US private equity subsidiary March 17, 2021 HSBC is poised to sell its French retail network to a subsidiary of US private equity firm Cerberus. Yesterday HSBC France chief executive Jean Beunardeau told employees the firm had decided to progress discussions with the subsidiary, though “discussions are still ongoing and are expected to be for some weeks,” the Financial Times reported. Beunardeau [...]
Diversity blow: UK banks lost 10,000 women in 2020 March 12, 2021 The number of women at the UK’s five biggest lenders shrank by three per cent during 2020, according to new Bloomberg data. Men saw a decline of around 2.1 per cent as banks pushed ahead with long-planned cuts and navigated the Covid-19 crisis. At NatWest, roles filled by women fell by nine per cent compared [...]
HSBC concedes to investor pressure over climate change March 11, 2021 HSBC has given in to investor pressure by tabling plans to phase out its financing of coal power by 2040, staving off backlash over the bank not being aligned with its climate ‘ambitions’. The bankin giant said today it will retire from funding both coal-fired power and thermal coal mining across the EU by 2030, and [...]
City Moves: Who is switching jobs in the Square Mile this week? March 10, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. New strategy director joins Wates Construction Wates Construction Group has appointed a new strategy and integration director for its recently formed group of businesses Wates Integrated Construction Services (WICS). Joining the London office, [...]
HSBC launches £15bn lending fund for British SMEs March 10, 2021 HSBC has today launched a new £15bn fund to help UK SMEs through the economic recovery. The fund, which includes over £10bn of regionally focussed allocations, seeks to move away from the “traditional” London focus and drive growth in regions across the country. “The past 12 months have highlighted the challenges many small businesses face. [...]
Coming or going? Aviva the latest to cut office space as rival bosses say ‘remote working can’t last’ March 4, 2021 Aviva the latest to cut office space as rival bosses say 'remote working can't last'
HSBC to cut jobs in London-based equities team February 26, 2021 HSBC plans to cut jobs in its London-based equities division, in a further shake up to the UK office. In the last two days, the holdings company informed staff of its plans to make cuts to the London equities team, Financial News first reported. The job cuts are part of HSBC’s ongoing restructuring work, first [...]
HSBC results: Shift to Asia, office space slashed, dividend returns February 23, 2021 HSBC today said it plans to nearly halve its office space globally as part of a radical overhaul that will see the lender shift its focus to Asia. The bank will pump roughly $6bn (£4.3bn) into the region over the next five years, focusing mainly on its wealth management business in greater China as well [...]
HSBC to move top brass out of Canary Wharf in ‘pivot to Asia’ February 22, 2021 HSBC will accelerate plans to increase its presence in Asia, as the bank prepares to shift some of its senior executives from London to Hong Kong, according to reports. Chief executive Noel Quinn is expected to begin marketing HSBC’s “pivot to Asia” when he announces the bank’s 2020 earnings tomorrow. Under the plans, a raft [...]