Barclays boss Jes Staley says Bramson board bid ‘doesn’t make sense’ due to £500m ‘short’ position April 10, 2019 Barclays boss Jes Staley has said activist investor Ed Bramson’s board bid “just doesn’t make sense” as he effectively holds a £500m short position against the bank. Speaking on CNBC, Staley delivered another comprehensive rejection of the US-based investor’s efforts to win a seat on the board. Read more: Activist investor Ed Bramson ramps up [...]
City Moves for 10 April 2019 – Who’s switching jobs at Actis, Funding Options and Feast It? April 10, 2019 Today's City Moves includes Actis, Funding Options and Feast It. Actis Actis, a global growth markets investor, has announced the appointment of Susan Wilkins as chief financial officer. Susan will be based in London and report to Torbjorn Caesar, senior partner of Actis. Susan will join the Actis executive committee. Susan was the chief financial officer and [...]
Barclays to restructure 460 UK jobs and cut more than 50 roles April 9, 2019 Barclays is set to carry out a restructuring plan that will slash around 54 roles and impact at least 400 more across the UK. A Barclays spokesperson said while the bank will relocate a number of operations and technology roles, it is not reducing the overall number of jobs overall, except in a few cases of duplication, and will remain [...]
HSBC banker killed in Alps snowboarding accident April 9, 2019 A British banker has been killed in a snowboarding accident in the Alps. HSBC contractor and artificial intelligence (AI) entrepreneur Stuart Thurlow, 50, was killed in the French ski resort of Avoriaz on Friday while boarding off piste. According to his Linkedin profile, Thurlow was a senior project manager at HSBC who had been working [...]
Societe Generale to cut 1,600 jobs following review of investment banking unit April 9, 2019 French bank Societe Generale has revealed plans to cut 1,600 jobs, mostly from its investment banking division, in a bid to boost profits. The bank said around 750 of those jobs would be lost in France, while bankers in London and New York could also be made redundant, according to reports. Read more: Societe Generale [...]
String of banks appointed as Travelex-owner Finablr weighs London float April 9, 2019 Payments company Finablr said today it was examining a London initial public offering (IPO) and had engaged a raft of top banks to act as underwriters and advisers. The United Arab Emirates-based company, which processed $114.5bn (£87.6bn) of payments in 2018, published a registration documents today and said it was weighing a $200m IPO. Read [...]
Santander and Barclays face lawsuits over film financing schemes April 8, 2019 Santander and Barclays are facing lawsuits from investors in failed film financing schemes. Santander could be sued for the role of legacy bank Alliance & Leicester’s role in part-funding the Imagine film financing scheme while Barclays is beng targeted over a similar scheme known as Timeless Releasing. Read more: HSBC sued for £150m in relation [...]
Activist investor Ed Bramson hits back at Barclays and ramps up pursuit for seat on the board April 8, 2019 Activist investor Ed Bramson has launched another attack on Barclays’ investment bank as he urged shareholders to give him a seat on the board. Bramson, whose investment vehicle Sherborne Investors holds a 5.5 per cent stake, issued a plea to shareholders ahead of a crunch vote on his bid to become a director next month. [...]
Jury discharged in trial of senior Barclays executives accused of financial crisis fraud April 8, 2019 The jury in the trial of four former senior Barclays executive accused of fraud for their part in a financial crisis-era emergency fundraising was discharged today. The high-profile case marks the first time senior bankers have faced court in a case related to the 2008-09 financial crash. In October the High Court quashed an attempt by [...]
Barclays plugs $6m into London financial tech startup Simudyne April 8, 2019 Financial simulation technology firm Simudyne will today announce the close of a $6m (£4.6m) series A funding round, led by Barclays. Early Snap and Lyft investor Graphene Ventures also joined the round, alongside Gauss Ventures which has previously backed digital banks Revolut and Tandem. The round raises Simudyne’s total amount of investment to date to [...]