Former Lloyd’s DEI leader left Beazley over non-financial misconduct allegations Insurance A former chief risk officer at cyber insurance giant Beazley left the FTSE 100 business following allegations of non-financial misconduct. City AM understands that Rob Anarfi, who had been at Beazley since 2012, left the FTSE 100 business early last year following allegations of non-financial misconduct. Anarfi was also chair of the Lloyd’s of London [...]
Wall Street bankers’ bonuses leapfrog City in ‘less impressive’ year Banking Wall Street bankers have leapfrogged ahead of the City as the industry’s swelling bonus pot proved “far less impressive” than prior expectations. In the US, the average bonus scored was $154,344 (£114,00) in 2025, marking a 5.85 per cent uplift from the year prior. This also topped the industry average growth of 4.4 per cent. [...]
Good news at last? Financial services sector rebounds at fastest rate this century Business Britain’s financial services sector rebounded in the first three months of this year powered by the fastest single-quarter recovery since 1996, a closely watched survey found. According to the CBI’s industry-wide survey, sentiment among financial firms improved for the first time in nearly two years, as an uptick in profitability was aided by the uncertainty [...]
Revolut profit booms after poaching record customers from high street banks March 24, 2026 Revolut revealed a major boom in its bottom line on Tuesday morning after the fintech giant poached a record amount of customers from its high street rivals. The $75bn digital banking titan posted a 57 per cent surge in group-wide profit to £1.7bn. It came as retail customers expanded by a record 16m as the [...]
Revolut is now a bank. Raise a glass to this stellar British success story March 11, 2026 It has been a painfully long wait for Revolut. But at last, the patience of Europe’s most valuable fintech has paid off. Its British banking licence has arrived. This is the final step in Revolut’s decade-long journey to become a fully-fledged bank. That means it is no longer – by any yardstick – a startup. [...]
Revolut lands full UK banking licence after four-year wait March 11, 2026 Revolut has landed its full UK banking licence following a four-year wait for the permit. The $75bn fintech juggernaut has been in the mobilisation stage for over 18 months after being granted approval for the licence last July. The final green light from the banking watchdog hands the digital bank permission to formally start lending [...]
Meet Reeves’ outsider tasked with steering the City to growth March 3, 2026 The City has rolled out the red carpet for the banking watchdog’s new chief after Katharine Braddick, a seasoned veteran of the financial trenches, was named on Friday as the successor to Sam Woods. For a cool £314,000 a year, she’s set to take on the brief of steering the UK’s banking sector. Chancellor Rachel [...]
Basel 3.1: New rules will make UK banking more resilient January 20, 2026 The implementation of Basel rules in the UK, published today,marks a major step forward for the banking sector, writes David Bailey.
Metro Bank handed capital boost from banking watchdog December 19, 2025 High street lender Metro Bank is set for a major capital boost after a reclassification from the banking watchdog. The FTSE 250 firm said on Friday it has received confirmation from the Prudential Regulation Authority (PRA) that it would be listed as a transfer firm under the newly introduced MREL regime from 2026. Introduced in [...]
Crypto firms face clamp down from Treasury and watchdog December 15, 2025 Cryptocurrencies will face regulation like any other financial products under new laws announced by the Treasury. Firms that offer crypto products will fall under the Financial Conduct Authority’s jurisdiction as part of new rules requiring digital assets providers to meet a set of standards from the City watchdog. The Labour government said the new legislation, which comes into [...]