City Moves for 9 December – Who’s switching jobs at Duff & Phelps, Ironveld and Nomura? December 9, 2019 Today’s City Moves includes Duff & Phelps, Ironveld and Nomura Duff & Phelps Global advisory firm Duff & Phelps has announced the appointment of Marcus Morton as managing director in the firm’s valuations advisory services practice in London. Marcus will focus specifically on the financial services sector. He has over 25 years of experience in [...]
Boris Johnson says leaked document ‘wrong’ about Irish Sea customs checks December 8, 2019 Boris Johnson has rejected claims that his Brexit deal would cause new customs checks on goods travelling between Great Britain and Northern Ireland, but conceded they would apply to products bound for the Republic of Ireland. The PM’s Brexit deal would see Northern Ireland remain in the UK’s customs territory but abide by EU rules [...]
Watchdogs propose tougher rules to limit banking services glitches December 5, 2019 UK regulators have proposed new rules to make banks and payment firms more resilient to major problems in the wake of TSB’s IT meltdown. MPs called for regulatory changes in October after repeated technological failures by lenders such as TSB, Visa, Barclays and RBS. Read more: TSB IT meltdown blamed on data centre test failure [...]
Daily Mail owner takes profit hit as it revamps portfolio in digital shift December 5, 2019 The Daily Mail’s parent company has reported a sharp fall in pre-tax profit for the full year, days after it snapped up the i newspaper for £50m. Daily Mail and General Trust (DMGT) posted a 21 per cent drop in pre-tax profit to £145m in the year to the end of September, while revenue slipped [...]
Metro Bank CEO Craig Donaldson to step down December 4, 2019 Metro Bank’s chief executive Craig Donaldson revealed this evening that he will step down at the end of the year, bidding farewell to the troubled lender after a torrid 12 months. After a decade-long stint running the challenger bank, Donaldson has become the latest in a string of senior figures to announce his departure. Donaldson’s [...]
Big Four client numbers fall but FTSE 100 stranglehold remains December 2, 2019 The number of clients audited by the Big Four accountancy firms has fallen but they retain an iron grip on the FTSE 100, figures published today show. Figures from Adviser Rankings for the quarter to 6 November showed the number of stock market clients audited by PwC (353), KPMG (312) and Deloitte (225) all fell [...]
Ranked: Britain’s best and worst bank accounts November 30, 2019 Brits now enjoy a larger choice of bank accounts than ever before, with rival offerings from time-honoured high street stalwarts to exciting new fintech upstarts. But if the choice at times seems overwhelming, a new league table has revealed which banks score highly for customer service and communication – and which leave a lot to [...]
Black Friday spending has beaten 2018’s outlay, says Barclaycard November 29, 2019 Black Friday spending has risen 12.5 per cent on 2018’s total, Barclaycard said today. Spending was higher as of 10am this morning and “sustained” that high level throughout the day. The bank said the number of transactions then reached a “new peak” between 1pm and 2pm on Black Friday. Read more: Black Friday outages: Natwest [...]
Premier hit by outflows ahead of merger with Miton November 28, 2019 Premier swung to net outflows in a “difficult year” as it finalised its merger with Miton, with Brexit uncertainty weighing on the asset manager. In its last results before the merger takes effect, Premier revealed that its assets under management (AUM) slipped from £6.9bn to £6.6bn for the year ending 30 September. Read more: Rathbone [...]
Barclays and Santander to cut chief executive pension perks November 28, 2019 Barclays, Santander and Lloyds Banking Group have all slashed pension allowances for their bosses after an outcry from MPs and investors. Barclays chief executive Jes Staley is set to receive a cash lump sum of £396,000 instead of a pension this year, which is equivalent to 34 per cent of his salary. From next year, [...]