Barclays prepares for hard Brexit as Irish expansion gathers pace October 24, 2018 The chief executive of Barclays said the bank is fully prepared for a hard Brexit as its Irish expansion plans gather pace. Jes Staley said it would be business as usual for customers after Britain leaves the EU on March 29. The bank will use its Irish subsidiary as a central European hub to guard [...]
St James’s Place shares slump despite £100bn funds under management October 23, 2018 Shares in wealth manager St James's Place slumped this morning despite the revelation that the company had hit a record breaking £100bn in funds under management. The firm announced that assets under management rose to £100.6bn, up 11 per cent since the beginning of the year, however shares slipped 4.6 per cent on news of slower quarterly growth. [...]
Serious Fraud Office presses for criminal charges to be reinstated against Barclays October 22, 2018 The Serious Fraud Office (SFO) is pressing to get criminal charges reinstated against Barclays related to its capital raising arrangements at the height of the financial crisis. The high street bank and four former executives were charged with conspiracy to commit fraud and the provision of unlawful financial assistance in 2017, connected to a deal [...]
Industry heavyweights from Barclays, RBS and Coutts back new personal investment robo-adviser Pia October 22, 2018 Big-name former executives from institutions such as Barclays, HSBC and Coutts are behind a new startup aiming to help consumers navigate the world of investing. Pia, an online "personal investment assistant" scheduled to begin its launch in summer, counts advisory board members such as T Rowe Price Global Investment Services' former chief executive Todd Ruppert, [...]
London Stock Exchange dividends jump amid banking and mining growth October 22, 2018 Shareholders were graced with a bumper third quarter of dividends this year, as a weakened pound and a strong showing from financial and mining firms bolstered payouts. UK dividends climbed 4.1 per cent in the last three months, hitting an all-time third-quarter high of £32.3bn. Underlying payouts, which exclude special dividends, reached £31.6bn, a rise [...]
RBS set to reveal third quarter dividend policy after making first payment following financial crisis October 21, 2018 Investors in the Royal Bank of Scotland will be eager find out whether the bank will announce another dividend this week, as UK lenders reveal their third quarter results. The bank, which last year returned to profit for the first time since the 2008 financial crisis, recently paid its first dividend in 10 years. Read [...]
Gatwick Airport publishes proposals to use emergency runway October 18, 2018 Gatwick Airport has published controversial plans to use its standby runway to increase capacity in a move that has been branded as "subterfuge" by campaigners. The plans mean the airport's standby or emergency runway will effectively operate as a second runway, which Gatwick has called for to increase its constrained capacity. The airport lost out [...]
Ex-Barclays wealth management boss says all banks will use artificial intelligence in next five years October 18, 2018 All banks will use artificial intelligence (AI) in the next five years, according to former Barclays wealth management boss Akshaya Bhargava, as institutions prepare for the $30 trillion (£28 trillion) "great wealth transfer" from baby boomers to millennials. Bhargava, who set up AI fintech platform Bridgeweave after leaving the British bank two years ago, said financial [...]
City Moves for 18 October – who’s switching jobs at TSB, Yapster and Barclays? October 18, 2018 Today’s City Moves cover TSB, Yapster and Barclays. TSB TSB has appointed Niv Subramanian as customer solutions director for its small and medium enterprise (SME) banking leadership team. Niv brings a combination of experience across strategic, commercial and operational roles in retail, commercial and corporate banking, with a keen focus on transforming the SME banking [...]
Brexit: 23 answers to investors’ questions October 16, 2018 The UK’s scheduled departure from the EU is fast approaching. Many observers are hopeful for an orderly withdrawal. But plenty of potential pitfalls between now and Brexit-day which could result in a chaotic divorce. The only near-certainty at present is that the UK will cease to be a full member of the EU on 29 [...]