Chief executive of Jack Ma’s Ant Group steps down March 12, 2021 Simon Hu has reportedly resigned as chief executive of Ant Group after just over a year in the role. Hu resigned for personal reasons according to Bloomberg, and he will be replaced by Ant Group chairman Eric Jing with immediate effect. He joined Alibaba in 2005 before moving to Ant in 2018 as President and [...]
How millennial savings app Plum could lure a new generation of DIY investors March 12, 2021 The reason Victor Trokoudes started Plum may be a familiar story to some millennials. His dad started nagging him about putting money away after he realised he hadn’t been doing much about his savings despite working as a trader in the City. He started building Plum in 2016 with co-founder Alex Michael before its launch [...]
Natwest winds down online lending platform Esme March 12, 2021 Natwest’s foray into the fintech world has come to an abrupt end with the closure of its standalone SME lending platform Esme Loans. Esme launched in 2017 offering loans between £5,000 and £150,000 for small business customers. The terms were usually between between one and five years and backed by personal guarantees. Now the platform [...]
Global chief executives say UK market is more attractive after Brexit March 12, 2021 Britain is a more attractive investment proposition than it was before Brexit according to a survey of 5,000 business leaders across the globe. The UK has overtaken India as the fourth most attractive growth target to bosses, behind the US, China and Germany. PwC’s annual survey of global chief executives shows 11 per cent of [...]
Credit Suisse execs ‘overruled’ risk managers on Greensill loan March 11, 2021 Senior Credit Suisse executives reportedly approved a $160m loan to beleaguered finance firm Greensill Capital despite concerns raised by the bank’s risk managers. London-based risk managers at the Swiss bank rejected the loan before chief risk and compliance officer Lara Warner signed off on the loan in October, according to the Financial Times. “There is [...]
Government looks at widening review into financial markets March 11, 2021 The government is planning to widen its review into financial markets as it looks to boost London’s prospects after Brexit. John Glen, economic secretary to the Treasury, said the government is reviewing financial rules to include regulations on market structure, transparency rules and commodities. It comes just a week after Lord Hill’s review into stock [...]
Shareholder management platform Shaparency announces capital raise amid expansion March 11, 2021 Shareholder management platform Shaparency which claims to democratise business access has secured another capital raise amid its rapid expansion. While a number of companies switched to digital fairly seamlessly for the day-to-day business during the first lockdown, shareholder engagement was largely neglected. Globally just 15 per cent of corporate boards use digital platforms in AGM [...]
Atom Bank valuation set to halve after latest fundraising round March 11, 2021 The valuation of digital lender Atom Bank could halve as it closes its latest fundraising round. Atom announced its £40m fundraising last month claiming it would put it “on the path to profitability in the near term”. But the challenger bank is now close to concluding a round at 60p-a-share, just under half the price [...]
ESG demand pushes Gresham House assets higher March 11, 2021 Gresham House has reported stellar growth over the past year as interest in ESG pushed its assets under management higher. The asset manager reported a 42 per cent rise in AUM to £4bn over the year with organic growth of £1bn across housing, forestry and sustainable infrastructure. It was largely driven by £437m of positive [...]
Monzo co-founder Gary Dolman joins Tickr as chairman March 11, 2021 Sustainable investing app Tickr has enjoyed meteoric growth during the pandemic, closed a £2.5m funding round and will now welcome one of Monzo’s founders to its board. Founded in 2018 by Tom McGillyCuddy and Matt Latham after stints at Barclays and Wellington Management, the pair wanted to demystify sustainable investing. The Tickr app only offers [...]
