Steel mogul Lakshmi Mittal leaves UK for Switzerland and Dubai November 23, 2025 Lakshmi Mittal, the steel mogul who was one of Britain’s richest people, has now left the country and become a resident in Switzerland for tax purposes, it has been reported. Mittal has long been one of the billionaires rumoured to be leaving the UK in response to Rachel Reeves’ tax plans. In March this year, [...]
Nearly half UK fintech founders consider shifting business overseas November 17, 2025 Rachel Reeves’ mission to garner favour with the fintech industry has faltered with founders blasting the government’s approach to the sector as they weigh a move overseas. The Chancellor has attempted to ramp up the UK’s status as a competitive hub in the global fintech ecosystem, but founders have said they are yet to feel [...]
Could this be the clearest sign yet that the rich are leaving Britain? October 30, 2025 It’s hard to know quite how many of the super-rich are leaving London. Some say departure numbers are well into four figures so far this year – others that the estimates are overstated. We can’t get a precise number, but one thing is for sure: it’s happening. The anecdotal evidence of high net worth folk [...]
HSBC UK beefs up wealth arm with ‘generational’ bet September 26, 2025 HSBC UK is making a “generational” play to beef up its wealth arm as the banking juggernaut eyes global dominance in the field. The FTSE 100 titan will launch a new Wealth Academy this autumn, the bank’s managing director of wealth Christopher Dean told City AM, in partnership with the London Business School. The bank’s [...]
Rachel Reeves told to ‘get out of the way’ ahead of Autumn Budget August 13, 2025 Chancellor Rachel Reeves has been told to “let businesses get on with it and get out of the way” ahead of delivering her second Autumn Budget in the coming months. A group of 1,500 private business leaders surveyed by KPMG said the Chancellor should focus on promoting higher wages and lower costs for companies. They [...]
Brits are gloomy – and not just about the weather August 5, 2025 Writers often agonise over how a column performs. I can see how many people read the online version of the Editor’s Letter and while our analytics don’t yet tell me what people make of my opinions they often spark a lively debate on LinkedIn. That can be satisfying, but that’s a self-selecting crowd of people [...]
How are the super-rich handling 2025’s wild market ride? July 31, 2025 Markets have had a wild ride in 2025. From whipsawing tech stocks to near-daily US tariff rule changes, the turmoil across a host of asset classes has proved tricky to navigate. Few are better equipped to ride out the storm than Britain’s super-rich, who have armies of advisers and wealth managers pouring over the data [...]
Goldman Sachs boss: London finance lead ‘fragile’ July 23, 2025 London’s position as a global financial centre is at risk from years of anti-business policies that are pushing talent and capital abroad, the boss of Goldman Sachs has warned. David Solomon highlighted a damaging combination of Brexit, the UK’s tax burden, constrictive regulation, and the recent decision to abolish the non-dom regime have all harmed [...]
Brits back tax incentive plan to stop wealthy investors fleeing UK July 22, 2025 Two thirds of Britons support offering rich investors tax incentives to stop them leaving the UK, according to a new report, as the government has been urged to design a special scheme to boost UK growth. In a new paper by Onward and the Adam Smith Institute, around 67 per cent of the British public [...]
Wealth tax would be a ‘dangerous road to go down’, BNP investment chief warns July 21, 2025 The chief investment officer at BNP Paribas Wealth Management has become the latest senior banker to warn over plans to introduce a wealth tax in the UK, describing the move a “dangerous road to go down.” In an interview with City AM, Edmund Shing said the move was likely to discourage entrepreneurs from starting a [...]