City Moves for 30 January – who’s switching jobs at Wesleyan, Horizon and Winckworth Sherwood? January 30, 2019 Who’s on the move today? Wesleyan Wesleyan, the specialist financial services provider – provides specialist financial advice and solutions to doctors, dentists, lawyers and teachers – has appointed Mario Mazzocchi as its new chief operating officer (COO). Mario previously spent 15 years with Lloyds Banking Group, most recently as COO for the Insurance and Wealth [...]
Manufacturers worry post-Brexit border delays could hit their businesses January 7, 2019 More than three quarters of British manufacturers say border delays post-Brexit would be a risk to their business, according to a survey released today. The survey by insurer AIG and manufacturing association EEF showed 76 per cent thought delays at the border posed a risk to their business. “While companies are naturally optimistic by their [...]
EU ‘no deal’ prep means City avoids cliff-edge fears December 19, 2018 The EU has stepped up its “essential and urgent” contingency plans in the event of a no-deal Brexit and offered long-awaited clarity to the financial services sector over clearing. The European Commission has started to implement its no-deal preparations given the “continued uncertainty” surrounding a Theresa May’s effort to get a Brexit deal through parliament, [...]
Multiple ‘dashboards’ to give savers access to pensions data, first planned for next year December 3, 2018 The government has confirmed it will introduce multiple so-called pension dashboards, with the first hoped to come into effect next year, giving savers the ability to access access their pension information for several schemes at once on their smartphone. Publishing a consultation on the measure this morning, however, the government could not confirm state pensions would be included. But pensions [...]
Insurance giant makes a £4.3bn bet on the future of Brexit Britain, Uni-leaving doesn’t make sense, and Macron’s not one to mince words September 21, 2018 The news that US insurance giant Marsh and McLennan has swooped on British rival Jardine Lloyd Thompson in a shock £4.3bn move sparked a lot of City chatter about the future of the sector. Will other US firms look to snap up UK rivals as they eye expansion? As one Lloyd’s veteran put it [...]
Insurance giant makes a £4.3bn bet on the future of Brexit Britain, Uni-leaving doesn’t make sense, and Macron’s not one to mince words September 21, 2018 The news that US insurance giant Marsh and McLennan has swooped on British rival Jardine Lloyd Thompson in a shock £4.3bn move sparked a lot of City chatter about the future of the sector. Will other US firms look to snap up UK rivals as they eye expansion? As one Lloyd’s veteran put it [...]
Exclusive: The government is working on a social care insurance scheme following last year’s ‘dementia tax’ row July 25, 2018 The government is working on a new plan to address the escalating cost of social care, as it tries to shrug off the spectre of its proposed “dementia tax” – a policy that provoked a furore during the Conservatives’ disastrous 2017 General Election campaign. City A.M. understands that a set of proposals are being readied [...]
City writes to chancellor asking for shake up of tax system June 18, 2018 Some of the City’s leading associations will call on the government to review the tax burden imposed on entrepreneurs and the broader finance industry. A letter is being readied by groups including the City of London Corporation, UK Finance, TheCityUK, the Investment Association and the Association of British Insurers, which will be handed to chancellor [...]
Bank of England boss lowers Brexit job loss estimate as he strikes tone of optimism over financial services deal April 19, 2018 One of the Bank of England’s top officials has cut his forecast for the number of job losses the City will endure as a result of Brexit. Deputy governor Sam Woods reiterated his forecast that one-to-two per cent of bank and insurance jobs would move out of London, equivalent to around 5,000-10,000 people. But, speaking [...]
From vicars to City titans: Goldman Sachs, Shell and Barclays among names behind £550m Lloyds legal battle | City A.M. April 4, 2018 Today City A.M. reveals the varied and surprising names behind a massive £550m legal battle with Lloyds over its takeover of HBOS at the height of the financial crisis – and the cast includes major institutions, aristocrats, vicars and politicians. The groups, which includes institutions such as Goldman Sachs, Nomura Asset Management and pension funds [...]