Female fintech leaders highlighted as sector faces continued lack of gender diversity February 28, 2019 Senior figures at major banking and professional services firms including HSBC, Barclays, Schroders and Monzo have been recognised on a list of women excelling in Fintech. A total of 35 women including HSBC head of digital innovation Diana Biggs, Starling Bank founder Anne Boden and Monzo chief technology officer Meri Williams were highlighted on Innovate [...]
Customers locked out of Barclays app as banking giant suffers IT outage February 28, 2019 Barclays customers were locked out of the bank's mobile banking app this morning after it suffered an IT outage. Read more: Barclays suffers online banking outage The latest glitch follows an outage earlier this month which left customers unable to access the mobile banking app or online services for hours. In a statement posted on Twitter this morning the [...]
Co-operative Bank returns to operating profit for first time in five years but heavy IT costs leads to overall loss February 28, 2019 The Co-operative Bank returned to operating profit last year for the first time since 2013 but heavy IT costs and PPI payments led to the bank to widen overall losses. The bank said the return to profit was a “key milestone” as it continues to recovery from a restructuring in 2017 but warned of challenges [...]
Ex-Barclays director says controversial deal with Qatar helped it win work in the Middle East February 27, 2019 A former Barclays executive told a court today that the bank’s two controversial £322m services agreements with Qatar at the time of its £12bn financial crisis fundraisings subsequently helped it win work in the Middle East. Former Barclays director Glenn Leighton said projects he had worked on in Bahrain and Kuwait were landed with the [...]
City Moves for 27 February – who’s switching jobs at JP Morgan, Exiger and Arkle Finance? February 26, 2019 Who’s on the move today? JP Morgan JP Morgan Asset Management has hired Jennifer Wu as global head of sustainable investing. She joins from Blackrock, where she was a member of its sustainable investing team. She will also lead JP Morgan’s sustainable investing leadership team, a global team of senior leaders focused on sharing best [...]
Barclays banker says she knew nothing of £322m services deal with Qatar February 26, 2019 Evidence from a former vice-chairman of Barclays Capital was read to a London court today, revealing she was not aware of two services agreements the bank struck with Qatar in 2008. Gay Huey Evans, who is currently deputy chairman of the Financial Reporting Council, said Barclays’ former executive chairman of investment banking Roger Jenkins was [...]
Barclays and Bank of Ireland sued over film finance tax evasion scheme February 26, 2019 Barclays and Bank of Ireland are being sued as part of a £180m lawsuit brought by investors in a film finance scheme the pair were involved in. Investors in the Eclipse film financing scheme lost out after tax authorities ruled the vehicle, which purported to invest in Disney films, was actually a tax avoidance scheme. [...]
Ex-Barclays Bank chairman Sir Gerry Grimstone to chair Investcorp and Aberdeen Standards joint venture February 26, 2019 Former Barclays Bank chairman Sir Gerry Grimstone has been appointed chairman of Investcorp and Aberdeen Standard’s gulf infrastructure investment joint venture. Grimstone, who stepped down from his role at Barclays investment arm on Friday, is rejoining Standard Life Aberdeen after resigning as chairman in January this year. Read more: Chairman of Barclays' investment banking arm [...]
Barclays rallies as shareholders promised more February 25, 2019 In a bear trend since 2007, Barclays has won over the market with this update, at least temporarily. These numbers from Barclays (LSE:BARC) have been well received on the basis of "jam tomorrow", as the high street bank continues to suffer from litigation and conduct fines, whilst growing strongly excluding these charges. The increase to [...]
Ed Bramson’s Barclays board bid suffers double blow as investment banking unit outperforms European rivals February 22, 2019 Barclays executives doubled down on efforts to scupper activist investor Ed Bramson’s bid to join the board yesterday, armed with better-than-expected results in its investment banking unit. In a further blow for Bramson, who has called for Barclays to scale back its investment bank, one of his key allies in the City, Aviva, said his [...]