HSBC set to axe UK wealth jobs as AI takes hold Banking HSBC is putting a raft of roles in its UK wealth division on the chopping block following a push to slash costs with artificial intelligence. Europe’s biggest lender is consulting on changes to its wealth management operations that would lead to a shake-up for hundreds of relationship managers and financial advisers across the UK. The [...]
Monument Bank boss: Wealthy Brits in ‘fear’ ahead of punishing Budget Banking Wealthy Brits are in a state of “fear” ahead of the forthcoming Budget, according to a London bank chief, as economic turmoil and speculation of more punishing tax raids ramp up. Ian Rand, the boss of Monument Bank, said affluent Brits were raising concerns over “certainty” and “getting things wrong” when attempting to protect their [...]
HSBC kicks off $1bn share buyback after profit smashes forecast Banking HSBC has resumed its share buyback programme after profit soared past expectations in the second quarter of 2026. The FTSE 100 bank – whose market cap of £274bn makes it the London Stock Exchange’s most valuable company – posted $10.1bn (£7.5bn) in pre-tax profit for the last three months, surging past an internal forecast of [...]
Banks woo the wealthy to ace stable income streams June 17, 2026 As the great and the good prepare to gather at Wimbledon, banks are serving up glamorous treatment to woo the wealthy. In this week’s column Samuel Norman looks at the players looking to call game, set, match. If you want the Centre Court treatment from your bank, you’re going to need to arrive with a [...]
Barclays pays £180m for loss-making UK fintech Gohenry June 12, 2026 Barclays has snapped up the UK arm of money management app Gohenry in a bid to “turbocharge” its ambitions for youth banking and the mass affluent market. The blue-chip lender revealed on Friday it had bought the fintech firm from its parent company, Acorns, for an undisclosed sum in a deal that is expected to [...]
Revolut bags watchdog approval to beef up UK wealth offering May 14, 2026 Revolut has received the regulatory green light to bulk up its wealth management offering, marking one of its first major expansions in the UK after bagging its banking licence. The $75bn juggernaut’s trading arm has secured a Variation of Permissions from the City watchdog, which allows the firm to broadened the scope of regulated activities [...]
Arbuthnot chief: High street banks’ push into wealth is no threat March 30, 2026 One of London’s oldest private banking institutions has sounded off on the influx of the British banking giants looking to grab a slice of the wealth management pie. Andrew Salmon, the boss of Arbuthnot Latham, told City AM that when big bank rivals attempt to go “stratospheric” with their thresholds, it would benefit from its [...]
AI-fuelled plumbing boom is luring in private equity March 3, 2026 AI has made trades like plumbing alluring not just to jobseekers, but private equity investors, writes Susannah Streeter.
St James’s Place offers up rewards of its turnaround to shareholders February 25, 2026 St James’s Place roused shareholder spirits on Wednesday as the leading UK wealth manager reported funds under management hitting record highs coupled with rising payouts. Funds under management jumped 16 per cent to £220bn, up from £190.2bn the prior year. Gross inflows reached £21.9bn, a 19 per cent increase from £18.4bn, while net inflows increased [...]
Reeves’ VCT changes ‘could put start up funding at risk’ January 12, 2026 Chancellor Rachel Reeves’ shake-up of venture capital tax rules could leave UK start-ups facing a shortfall of millions in funding, a leading investment platform has warned. According to Wealth Club, the chancellor’s changes to venture capital trust tax relief in last year’s Autumn Budget could see British start-ups and scale-ups face a funding deficit of [...]