JP Morgan and Morgan Stanley call for transition period to protect banks post-Brexit October 20, 2016 Two senior staffers of major investment banks have today called on the UK to secure a transition period for industry post-Brexit. Speaking at a British Bankers' Association conference, Sir Win Bischoff, chairman of JP Morgan Securities, remarked it would be "advantageous to have a transition period beyond the two-year period" the UK would have before it [...]
French ambassador says London’s financial crown is now fair game for Paris October 20, 2016 France might not be totally thrilled about Brexit but that's not going to stop Paris swooping in on London's financial crown, bankers were warned today. Speaking at a British Bankers' Association conference, her Excellency Sylvie Bermann, French ambassador to the United Kingdom of Great Britain and Northern Ireland, noted France "didn't want the UK to leave because we [...]
Politics of Brexit at odds with banks’ business needs, banking conference told October 20, 2016 The politics of Brexit is doing little to help banks keep calm and carry on, several key figures have said today. Speaking at the British Bankers' Association's (BBA) International Banking Conference, Lord Mandelson, Labour politician and now chairman at advisory group Global Counsel, remarked that banks need some sort of certainty on what government was planning for [...]
Bank of England head of future technologies: Technology can be cure, not cause, of risk October 20, 2016 Technology shouldn't be feared as being the bringer of risk to financial institutions, a key member of Bank of England staff has said today. "We recognise that new technologies can actually reduce risk," said Will Lovell, head of the future technologies division at the Bank of England, while participating in a panel at a British [...]
Brexit more benefit to US than Europe, says Deutsche Bank’s chief economist October 20, 2016 The US has more to gain from the EU taking a hard stance in the Brexit negotiations than the European capitals do, the chief economist of a major international bank has said today. Speaking at a British Bankers' Association (BBA) conference, David Folkerts-Landau, group chief economist and global head of research at Deutsche Bank, warned that, should other [...]
Mark Garnier joins Philip Hammond in reassuring the City it’s still important in the Brexit negotiations October 20, 2016 Mark Garnier, parliamentary under secretary of state for international trade, has today reiterated reassurances from other politicians that the financial services sector is important to government as it gears up for Brexit negotiations. Garnier told the audience at a British Bankers' Association (BBA) conference that "government fully appreciates the implication" concepts such as a hard Brexit could have for the industry, adding: [...]
BBA chief calls for clarity for banks on Brexit to prevent “worst case scenario” planning October 20, 2016 The head of a leading City trade group has called on government to provide more clarity on its Brexit thinking for the sake of the future of the banking sector. Speaking at the British Bankers' Association's International Banking Conference, chief executive Anthony Browne said "banks need as much clarity as possible" so they could carry out plans [...]
One in four caught out by current account fraud October 19, 2016 Around a quarter of Brits have fallen victim to a fraud involving their current account, research out today has found. Price comparison site USwitch also discovered that victims were parted with an average of £828, while one in five of those affected are still out of pocket following their bank's investigation. Meanwhile, over half (59 per cent) of [...]
Leavers and Remainers launch group to untangle Brexit’s mixed messages October 19, 2016 A new group uniting Bremainers and Brexiteers to create clear, neutral, evidence-based research on the issues stemming from the Referendum result launches today. The Financial Services Negotiation Forum, or FSNForum for short, has already earmarked equivalence, euro-clearing, access to talent and market liquidity as research priorities. Anthony Belchambers, chairman of the honorary advisory council of the FSNForum, told City [...]
