Swiss banker who paid for strip clubs on expenses sentenced to almost four years for fraud April 14, 2022 A banker who has been jailed for fraud put strip club visits and holidays on expenses, a court was told. Former banker of the year in Switzerland, Pierin Vincenz, will spend almost four years in jail, after he was sentenced at the culmination of a high-profile case in the country. The ex chief executive of [...]
Exclusive: Unicorn Bank of London announces new deputy chief executive April 14, 2022 A new deputy chief executive has been appointed by the Bank of London, the second clearing bank to launch in the UK within the last 250 years. Tom Wood has joined the technology-based company which landed with a bang last year, being valued at £1.1bn. The first pre-revenue bank to reach unicorn status upon entering [...]
Exclusive: Cynergy Bank’s new London property director is former head of Lloyds’ capital team March 28, 2022 The former head of Lloyds’ property team in the capital has been unveiled as the new London director of Cynergy Bank. Mitesh Hathi will head the bank’s expanded team of 19, with more than £1.1bn on its balance sheet. They will will focus on small and medium sized firms in the capitals’s £2m-20m bracket, in [...]
Law firms match investment banks in handing out UK’s highest graduate salaries February 21, 2022 The City of London’s law firms are now the UK’s highest paying graduate employers, according to new figures from High Fliers, which show UK law firms have now matched investment banks in offering graduates average salaries of £50,000 a year. The graduate salaries paid out by Britain’s major law firms are now on par with [...]
Abrdn forced to delay £1.5bn Interactive Investor takeover due to global paper shortages February 6, 2022 Edinburgh headquartered asset manager Abrdn has been forced to delay a shareholder ballot on its plans to launch a £1.5bn takeover of online investment platform Interactive Investor, because of an international paper shortage. Abrdn had hoped to let shareholders vote on its plans to takeover Interactive Investor ahead of its results. However, the Scottish asset [...]
New data reveals the top 10 dealmakers of 2021 February 6, 2022 New data, shared with City A.M. has revealed the UK’s top dealmakers of 2021. The figures come on the back of a record year for mergers & acquisitions, which saw the completion of more than $5 trillion worth of deals. JP Morgan’s James Robinson ranked as the UK’s top investment banker, after topping MergerLink’s charts [...]
BNP Paribas London executive keeps job despite naming Asian colleague ‘Hu She’ January 30, 2022 All eyes are on BNP Paribas this weekend as a senior lawyer manages to keep his job after it was revealed that he referred to an Asian colleague as “Hu She”. In a disciplinary inquiry at the French bank last year, Benedict Foster, head of legal for debt and equity at BNP’s London office, was [...]
Banks say FCA is hindering innovation: Watchdog not responding quick enough to tech trends January 28, 2022 Two thirds of all UK banks and financial institutions think the City regulator, the FCA, is not responding quickly enough to new trends, thereby hindering innovation within the sector. When quizzed about the roadblocks they face, more than half said they have been held back from trialling new technologies due to a lack of formal [...]
Exclusive: ‘Keep a cool head in hairy markets but avoid being an ostrich’, says City grandee and fund chief Andrew Bell January 20, 2022 Witan Investment Trust is a well-know name in the City’s investment space. It can trace its history back to 1909 when it was set up to manage the investment affairs of Sir Alexander Henderson, who later became the first Lord Faringdon. Today it holds over £2.2bn on behalf of more than 28,000 shareholders, using a [...]
Financial watchdog introduces rules for greater consumer protection to ‘drive a change in culture’ December 7, 2021 The Financial Conduct Authority (FCA) launched a consultation this morning to ensure a higher and more consistent standard of consumer protection for users of financial services and help to stop harm before it happens.