Barclays boss Jes Staley spills the beans on Dodd-Frank, Brexit and robots February 23, 2017 Barclays boss Jes Staley was in a chatty mood today – perhaps unsurprising given his bank just announced it had nearly tripled its yearly profits. However, it wasn't just bottom lines and capital ratios the banking chief executive spoke about, as he shared his words of wisdom on a slew of other issues weighing on the [...]
Tandem chief executive to retire with the bank due to launch within months February 23, 2017 Peter Herbert is to step down as chief executive of digital bank Tandem with the challenger due to finally launch inside the next few months. Herbert will retire in the next few weeks, with deputy chief executive and co-founder Ricky Knox stepping up to replace him. Banking veteran Herbert only joined the start-up 15 months [...]
Incentive awards at Barclays inched down in 2016 despite bumper profits February 23, 2017 Barclays revealed today that its incentive pay pool shrank in 2016, despite revealing its pre-tax profits had almost trebled. The banking giant shelled out £1.5bn in incentive payments for the year, down one per cent on 2015. However, the lender's headcount also plummeted during the year, as part of its large-scale restructuring scheme. While the [...]
This is how City analysts reacted to Barclays’ results February 23, 2017 Another day, another big bank reports its numbers – this time, it's Barclays' turn. Shares in the the lender went up by more than three per cent after it reported pre-tax profits almost tripled last year, growing by a massive 182 per cent to hit £3.2bn – but the bank still missed expectations. Here's how [...]
These are the UK banks with the happiest and saddest customers February 23, 2017 TSB has the happiest customers of the UK's high street banks, according to new research based on tweets. Emotion analytics company Adoreboard looked at more than 67,000 tweets by bank customers over a six-month period, and used mathematical algorithms to detect emotions such as joy, trust, rage and anger expressed by social media users. Unsurprisingly, the researchers [...]
Barclays’ 2016 pre-tax profits almost treble at £3.2bn, as it eyes an early close for non-core February 23, 2017 Barclays revealed this morning that its profits had shot up during 2016, and announced it would close down its non-core unit earlier than planned. The figures The banking giant reported a profit before tax of £3.2bn, up 182 per cent from £1.1bn in 2015. However, the figure missed the analysts' consensus, which had predicted profits before tax [...]
As Lloyds posts its highest profit in a decade, have British banks got over the financial crisis? February 23, 2017 Fahad Kamal, senior market strategist at Kleinwort Hambros, says Yes. In the latest stress tests conducted by the European Banking Authority, only two of the 51 banks tested – neither British – would fall below the minimum capital level required in an “adverse” scenario. Admittedly, some UK banks still have a hangover from the pre-crisis [...]
Formula One: MEP hits back at governing body claims of malicious intent February 22, 2017 The MEP championing change in Formula One has hit back at claims by the sport's governing body that her cause is “inaccurately informed or made maliciously”. In an open letter Anneliese Dodds highlighted a conflict of interest in Formula One's regulator, the FIA, allegedly profiting from signing off on the sale of Formula One to Liberty Media. One [...]
What really goes on inside Barclays’ global business division… February 22, 2017 Have 120 seconds free? Take a look behind the scenes at Barclays' UK corporate, consumer and investment bank. Discover why a 250-year relationship is so vital for this operation:
The UK’s big banks need to keep a close watch on risks February 22, 2017 Less than a week ago, analysts were predicting that the UK’s banks could be about to turn a corner. Mega-fines appeared to be tailing off, signalling an end to the failings of the past. It was no secret that fresh challenges lay ahead for the sector, notably the costs of ringfencing and IT legacy issues, but [...]