Thought millennials went crazy for avocados? Meet Generation Z September 15, 2017 If you thought Generation Y were a bunch of avocado-obsessed health-freaks, you ain’t seen nothing yet: it turns out Generation Z, their even younger counterparts, eat 226 per cent more avocados than their predecessors. Research by Barclays reveals today’s students are shunning traditional university pursuits – drinking, smoking, etc – in favour of quitting smoking [...]
Toscafund launches €300m fund to invest in unlisted financial and business services companies September 13, 2017 Multi-asset manager Toscafund has launched a new €300m private investment fund, to invest in financial and business services companies around Europe. To head the team, Toscafund has hired Fabrizio Cesario and George Koulouris – both formerly of private equity firm Anacap Financial Partners, a financial services specialist. Read more: Au revoir: Barclays completes sale of [...]
Bitcoin and Ethereum slide after JPMorgan Chase boss slams cryptocurrencies as “fraud” September 13, 2017 JPMorgan Chase chief executive Jamie Dimon slammed cryptocurrencies as a “fraud” last night, pushing the already slipping value of Bitcoin down another notch. Bitcoin was down almost four per cent today at $3,985.03 (£2,994.49), while Ethereum dropped 4.81 per cent to $279.55. Dimon said he would fire an employee who traded in cryptocurrencies for being [...]
Dress-down Friday? Dress-down every day. The City of London is becoming more casual, with bowler hats out and designer stubble in September 8, 2017 Goodbye bowler hats, brollies and polished black shoes – hello dress-down Fridays, jazzy colours and designer stubble. Dress codes appear to be falling out of fashion in the City of London. Around two-thirds of financial services employees will be allowed to travel into work in casualwear for dress-down Friday today, the results of a new [...]
Brevan Howard London fund chief resigns September 7, 2017 One of Brevan Howard’s top London fund chiefs resigned last week, City A.M. has learned. Rajesh Amin has quit his position as head of investment at the Brevan Howard Liquid Portfolio Strategies Fund. Bin Ren, who worked alongside Amin at Brevan, will step up as his replacement. In 2015, the pair moved from Decura, a [...]
Former BoE deputy governor Charlotte Hogg appointed as chief executive of Visa Europe September 7, 2017 Charlotte Hogg, who was forced to resign as the deputy governor at the Bank of England (BoE) earlier this year, has been appointed the chief executive of Visa Europe. Hogg left the BoE in March after a four-year career there following criticism over her failure to declare the potential conflict of interest of her brother’s [...]
Barclays and Lloyds in £10bn borrowing boost from Bank of England term funding scheme stimulus | City A.M. September 7, 2017 Barclays and Lloyds Bank borrowed more than £10bn from the Bank of England’s term funding scheme in the second quarter of this year, ahead of the removal of the lending stimulus early next year. Barclays borrowed £6bn between April and June, while Lloyds drew on £4.5bn, according to the Bank of England’s latest data, published [...]
Brevan Howard US fixed income head jumps ship and heads to Barclays September 6, 2017 A top trader from Brevan Howard’s New York office has left the renowned hedge fund to head up Barclays' macro trading team. The exit comes after City A.M. revealed last week that Brevan Howard’s chief operating officer had resigned and the fund was considering headcount reductions in New York and Israel. Michael Lublinsky will start [...]
London ranked the most prosperous spot in the UK, but its growth is slowing against other regions September 5, 2017 London has held its position as the UK’s top spot for prosperity, but growth in the capital is lagging against a backdrop of fluctuating economic conditions and Brexit negotiations, new research suggests. Barclays Wealth & Investments’ annual UK prosperity map, which will be published today, found London’s growth was slowing across a range of indicators [...]
Charter Court Financial Services is set to announce plans for £500m float in London | City A.M. September 3, 2017 Buy-to-let mortgage lender Charter Court Financial Services is expected to reveal a £500m initial public offering (IPO) on the London Stock Market, according to reports. The owner of Exact and Precise mortgage brands could announce plans for a float as soon as this week with a market value of about £500m, Mark Kleinman at Sky [...]