Quilter shareholders set for bumper payday as bosses announce £328m capital return March 9, 2022 The boss of Wealth management giant Quilter hailed 2021 an “important” year for the the firm as it reported a boost in profits and unveiled a £328m capital return to shareholders following a share buy back programme.
Exclusive: Top UK, German and Belgian retail bosses planning to launch more embedded finance schemes March 9, 2022 More than 50 per cent of top European business leaders are looking to launch more embedded finance schemes, a survey has revealed. An independent poll of 753 bosses in retail and eCommerce companies spanning the UK, Germany and Belgium, indicated most would back such initiatives – which integrate financial services in non-financial companies. The survey, [...]
Network International sees 900 per cent profit surge under new CEO March 9, 2022 Network International saw profit surge more than 900 per cent last year, under a new Mastercard veteran CEO, as its new business momentum hits record levels. Profit rocketed to $56.5m in the year to 31 December, from just $5.5m in 2020, according to the payments firm’s latest financial results today. Network pulled in 17 new [...]
Legal & General reports boom in profits as it feels post-pandemic lift March 9, 2022 Asset management giant Legal & General reported a surge in profits and hiked its dividend payouts today as it felt the lift of a post-pandemic boom across its divisions.
Prudential enjoys bump in new business profit as it cuts off loss-making US operations March 9, 2022 Life insurance and financial services company Prudential enjoyed a bump to new business profit last year, as the pandemic-era drive to get one’s affairs in order rolls on. New business profit lifted 15 per cent to $2.5bn in the year to 31 December, up from $2.2bn in 2020. The London-headquartered company’s gross premiums for 2021 [...]
Revenue growth drives 888’s ‘record year’ March 9, 2022 Betting and gaming giant 888 has said 2021 was a “record year” for the company, as revenue surged to $980.1m. In the year ended 31 December, the group’s gross profit went up 15 per cent to $647m, while profit before tax rocketed from $26.7m to $81.3m, bringing with it a 500 per cent increase in [...]
Money transfer fintech launches in London to take on Wise and PayPal March 9, 2022 A new money transfer fintech firm is looking to snap up market share from Wise and PayPal as it launches in London today with a fresh $4.5m round of funding.
City Moves: Who’s switching jobs in the Square Mile this week? March 9, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. BTIG BTIG has bolstered its equities division with a new managing director in its London office. Pavi Sidhu, who has previously held roles across equities and global portfolio trading at HSBC, brings over two decades’ experience to the [...]
We have weakened the very systems of international law we need to restore peace in Ukraine March 9, 2022 In the global and regional corridors of power, Russia’s place – as the successor to the Soviet Union – has made international diplomacy appear impotent. There has been continued human rights abuses abroad and on its own soil, and under Vladimir Putin’s leadership, there has been an almost total disregard for national sovereignty over the [...]
As government debt jumps to fund defence spending, our economy will pay the price March 9, 2022 Sanctions will clearly hit the Russian economy very hard. But economic prospects for the West are not exactly rosy. Twice in the 1970s and again in the early 90s, there were rapid spikes in oil prices; each instance was followed by economic recessions. The deep recession following 2008 was, of course, due to financial causes [...]
