CEO of Close Brothers asset management arm to step down November 18, 2021 Martin Andrew, the CEO of Close Brothers’ asset management arm, today announced he will step down from his role after thirteen years at the helm, to “pursue the next stage of his career.” Commenting on his departure, Andrew said: “It has been a privilege to lead CBAM and serve our clients over many years and [...]
It’s happened: Global M&A hits all-time record of $5 trillion in 2021 November 18, 2021 Dealmaking has reached new heights this year, as the momentum seen each quarter continued unabated and propelled the global M&A market to a new all-time record of $5 trillion in deals – with still one month to go. As of yesterday, global transactions have topped $5 trillion so far this year – already 40 per [...]
FinnCap confirms its record £32m revenue on ‘exceptionally busy’ M&A market November 18, 2021 Shares in FinnCap closed 1.4 per cent higher today, after the AIM-listed tech and life sciences small cap broker confirmed the first half bumper revenue hike it had teased last month. Earnings jumped 55 per cent to a record £32m, and the firm stuck to the full-year revenue guidance it upgraded in October to between [...]
Investec boosts guidance after profit more than doubles and sheds 15 per cent of Ninety One November 18, 2021 Investec today said its recovery continued in the first half of its new financial year, as profit more than doubled from the same period a year earlier. The FTSE 250 firm said this rebound was driven by a strong earnings recovery on increased client activity across the business and lower funding costs. As a result [...]
British Patient Capital enjoys VC bumper year and boosts startup portfolio by almost a third November 18, 2021 British Patient Capital (BPC), the venture capital subsidiary of UK government-owned British Business Bank (BBB), today announced it committed almost £300m to investing in the growth of British startups in the year to March 2021. During the pandemic-defined year, its underlying portfolio of companies increased by almost a third from 503 to 676, with three [...]
City broker Numis reports itself to FCA over THG memo that went a step too far November 17, 2021 AIM-listed investment bank Numis has apologised and handed itself in to the City watchdog, after one of its employees circulated a bold memo suggesting that ecommerce group THG had “irregularities in accounting”. Numis, a bookrunner on THG’s IPO just over a year ago, has found itself in a sticky situation after the memo to hundreds [...]
The most popular source of investment ideas for Gen Y and Z? Social media November 17, 2021 A new survey has confirmed the trends we saw during the pandemic, when retail investing became part of the zeitgeist due to a combination of social isolation, boredom, spare cash and rapidly innovating fintechs. Over half (56 per cent) of 18-34 year olds in the UK who invest attribute their strategy to ideas published on [...]
UK advertising watchdog probes crypto meme coin Floki’s marketing ‘assault’ on London transport November 17, 2021 The Advertising Standards Authority (ASA) has bowed to calls for an investigation into an ad campaign for a digital token named after Elon Musk’s new dog, Floki, after hundreds of adverts for the cryptocurrency appeared across the capital’s transport network. A spokesperson for the ASA told City AM that the watchdog is currently investigating the [...]
FCA unveils plans to ban debt advice firms charging referral fees November 17, 2021 Debt packager firms will be banned from chasing commission to refer those in financial distress on to other providers of debt solutions, under new plans unveiled by the UK’s financial watchdog today. The ban concerns debt advice firms that rely on income from referral fees paid by the other firms that they recommend – a [...]
Darktrace backer Balderton unveils new early-stage $600m fund November 17, 2021 Balderton Capital, one of Europe’s most active venture capital firms, this morning announced it has raised its eighth fund focused on early-stage startups in Europe. At $600m, it’s the largest fund for investing in early-stage startups that the Kings Cross-headquartered firm has raised since it began placing its bets on Europe’s fledgling businesses in 2000. [...]