City Moves for 18 October – Who’s switching jobs at RSM, Black Isle and Octopus? October 18, 2019 Today’s City Moves includes RSM, Black Isle and Octopus RSM Leading audit, tax and consulting firm RSM has appointed Neil Griggs as an audit partner in its financial services team. Neil joins RSM from BDO, prior to which he worked at both Big Four and boutique firms. He has 20 years of financial dervices experience [...]
PM Johnson scrambles to save Brexit deal ahead of key Saturday vote October 17, 2019 The stage is set for a dramatic showdown in parliament this weekend, after a last-minute Brexit deal put the ball in Westminster’s court. Boris Johnson claimed a victory yesterday morning with “a great new deal that takes back control” agreed just minutes before he left London for the European Council in Brussels. The Prime Minister [...]
Boris inches closer to new Brexit deal October 17, 2019 A Brexit breakthrough was in touching distance last night, but critical issues remain unresolved both in Brussels and Westminster ahead of tonight’s European Council. Boris Johnson held his third meeting in three days with the Democratic Unionist Party (DUP) yesterday as he sought the support of the Conservative party’s informal partners. DUP leader Arlene Foster [...]
Relocations rise ahead of Brexit but London will stay ‘dominant’, report finds October 16, 2019 More than 330 financial firms have relocated parts of their business ahead of Britain’s imminent departure from the EU, a new report has found. Hundreds of banks and financial services companies have moved staff or set up new entities in the EU, rising by 23 per cent since a previous report in March. Read more: [...]
Banks struggle with PPI claims after deadline surge October 16, 2019 Customers who lodged complaints over the mis-selling of payment protection insurance (PPI) may have to wait until next summer for a final response. Read more: PPI costs account for over half of all conduct and litigation in UK banks Britain’s competition watchdog has said it is challenging banks to deal with complaints as quickly as [...]
Brexit deal talks falter as deadline looms October 16, 2019 Brexit talks appear to have faltered this morning, with EU negotiators saying remaining issues cannot be solved at a technical issue. Bloomberg is reporting that Brussels has all but ruled out a deal at this stage, and has said “a new mandate from London is required”. However a Downing Street source played down this as [...]
Brexit secretary: New political declaration drafted October 16, 2019 Brexit secretary Steve Barclay has this morning confirmed a new political declaration with the EU has been submitted, as the UK government attempts to secure an 11th-hour deal. Speaking this morning before the Brexit committee, Barclay said changes to the Irish backstop meant it necessarily followed that “there would be changes to political declaration”. The Cabinet [...]
Telegraph group suffers profit slump as ‘structural decline’ outweighs subscriber growth October 15, 2019 The Telegraph has suffered a huge decline in pre-tax profit for the year, as a rise in subscriber numbers failed to counteract a “structural decline” in print revenue. Telegraph Media Group (TMG) posted pre-tax profit of just £900,000 in 2018, a fall of 94 per cent on the previous year. Revenue also slipped three per [...]
Eleventh hour Brexit proposals to be tabled by UK October 15, 2019 UK negotiators are poised to table new proposals in a last-ditch bid to secure a Brexit deal. According to Irish broadcaster RTE, the latest set of proposals – which are being put forward after the supposed deadline for a deal has passed – follow a 90 minute meeting between Prime Minister Boris Johnson and DUP [...]
Delving inside FinTech innovator Prepaid Financial Services October 15, 2019 “Our core strength is achieving consistent profitability,” Valerie Moran, Head of Operations & Client Relations. It’s late on a Wednesday night in the City. PFS’ owners have reached the end of a selfie queue at a private bank after Valerie Moran was invited to deliver a keynote speech on a hot topic – Diversity and [...]