By: Samuel Norman

Senior City Reporter Samuel is a Senior City Reporter covering banking and fintech as well as stories on capital markets and economics. He also leads on City AM's morning liveblog from 7am everyday. He has previously written for the Daily Mail and The i Paper and worked for Sky News as an election stringer. He enjoys writing in-depth analysis of major blue-chip firms and start-ups and also industry trends. He can be contacted at samuel.norman@cityam.com and posts on LinkedIn and X at x.com/samnormanwrites.

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Average Brit would need lifetime of earnings to become wealthy

October 8, 2025

The average British worker would need to save more than a lifetime’s worth of earnings to become wealthy, fresh analysis has revealed. The ever-widening wealth gap means it would take £1.3m – around 52 years’ worth of average earnings – to jump from the middle to the top of wealth distribution. This is over a [...]
FCA orders lenders to pay £11bn in motor finance compensation

October 7, 2025

The Financial Conduct Authority (FCA) has announced that it expects lenders to make 14.2 million payouts to individuals affected by unfair motor finance agreements, totalling around £11bn in compensation. The FCA estimates people would receive around £700 per agreement, on average. It has also been calculated that around 85 per cent of eligible consumers would [...]
Revolut boss abandons UK residency in favour of UAE

October 7, 2025

The boss of London-born fintech juggernaut Revolut has abandoned his main residency in the UK in favour of the United Arab Emirates. Nik Storonsky’s updated residency was posted in fresh Companies House filings on the fintech chief’s family company on Tuesday. The move comes mere weeks after Revolut pumped £3bn into the UK as it [...]
Lloyds: FTSE 100 giant’s slow wealth progress sparks takeover talk

October 7, 2025

Lloyds’ “slow” progress in wealth management has sparked talks of a potential takeover as the banking titan looks to beef up its offering for high net worth individuals. The FTSE 100 giant exited the area in 2013 as part of a simplification drive after the financial crisis, with the reduction of its stake in St [...]
FTSE 100 Live: House prices fall; Shell eyes earnings boost; B&M takes hit

October 7, 2025

Good morning from the City AM liveblog team. Last week, PM Keir Starmer appeared to leave Labour conference on a high — seeing off threats to his leadership and resetting relations with members. But back in London, things are not quite as rosy. As we report today, UK dealmakers’ faith in the economy has slumped [...]
Lazy Brits are refusing to switch bank accounts. And I would know

October 7, 2025

Despite knowing the benefits of switching, too many Brits refuse to switch bank accounts. And I'm part of the problem, writes Samuel Norman.
Autumn Budget: Why are banks in Rachel Reeves’ tax crosshairs?

October 7, 2025

The “pass the parcel” of Budget speculation has fallen back into the lap of the banking industry with the nation’s top lenders finding themselves as a potential subject of a November cash grab. Fresh reports have indicated Rachel Reeves is actively considering a raid on Britain’s banking giants – even as she continues to make [...]
Regulators target motor finance CMCs amid redress costs concern

October 6, 2025

The Financial Conduct Authority is teaming up with a fleet of regulators to crackdown on misleading claims firms in the motor finance saga – even as the sector’s displeasure on the redress scheme rumbles on. The City watchdog will join the Solicitors Regulation Authority (SRA), Information Commissioner’s Office and the Advertising Standards Authority to tackle [...]
Ex-head of British Army to lead Santander’s defence lending

October 6, 2025

The former head of the British Army is set to lead Santander’s bid to bolster its defence lending as the industry experiences soaring demand with nations upping spending. General Sir Patrick Sanders was the chief of the general staff from 2022 to 2024 in the British Army and is set to join the Spanish-headquartered bank [...]
Construction sector hit by waning activity ahead of Budget

October 6, 2025

Business activity expectations in the construction industry have fallen to the lowest since the end of 2022 as companies remained glum on future outlook ahead of the Autumn Budget. The latest Purchasing Managers Index (PMI) from S&P Global showed construction output showed the industry hit its highest level for three months at 46.2 – though [...]

Santander: Fans to spend thousands watching World Cup from Britain

Santander: Fans to spend thousands watching World Cup from Britain

Inside City’s latest Irish pub: London’s poshest Guinness served here

By: Samuel Norman

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