City Moves for 18 November 2016 | Who’s switching jobs November 18, 2016 Lee Baron Lee Baron, a specialist in property management, has appointed Steven Room as head of residential development. With over 30 years’ experience in the property sector, Steven has worked directly with a range of housebuilder, developers, landlords, investors and property managers at firms such as Kinleigh Folkard & Haywards, County Estate Management, Haywards, The [...]
JP Morgan to pay $264m to settle Chinese hiring claims November 17, 2016 JP Morgan is to pay $264m (£212.2m) to settle claims it hired relatives of key Chinese decision makers to win work. The US authorities allege that JP Morgan's Asian subsidiary set up a client referral scheme, distinct from the lender's own hiring processes, to give unfair preference to would-be hires referred by client executives and influential government officials [...]
The Brexit bill? Chancellor Philip Hammond expected to announce £100bn black hole in Autumn Statement November 17, 2016 Chancellor Philip Hammond is expected to reveal a £100bn black hole in government finances in next week’s Autumn Statement. The estimated figure, built up cumulatively over the next five years, has been linked to the UK’s Brexit vote, because of the deterioration in forecasts since March. Read more: Public borrowing could overrun by £100bn over [...]
Two thirds of business leaders think technology will create more value in the future than people November 17, 2016 Feeling a little undervalued and overlooked at work? Well, look away now. Some new research from Korn Ferry is unlikely to make you feel much better. A study of 800 global business leaders found that over two thirds think technology will create greater value in the future than people will. Ouch. And 44 per cent [...]
Brexit looks like a footnote compared to Trump win, says Barclays boss Jes Staley November 16, 2016 The impact of June's Brexit vote is overshadowed by Donald Trump's recent triumph in the US race for the White House, the boss of Barclays said today. Trump's surprise victory last week did little to rock the markets in the immediate aftermath, but the new president-elect is still yet to flesh out the details of his policies. [...]
London, this is Scotland calling… November 16, 2016 To paraphrase the comedy legend, Billy Connolly: "Never trust a man who, when left alone with a tea cosy, doesn't try it out for size." He had a point. And this same sense of innovation is not lost on Scotland's financial sector. Over the decades major multinationals have tried Scotland out for size, and found it a perfect fit for their [...]
Google just promised everyone in the UK free digital skills training November 15, 2016 The boss of Google has promised every single person in the UK free digital skills training. In a speech in London today, Sundar Pichai will say: “No matter where you live, no matter where you’re from, no matter what your job is – you deserve access to all the information, education, and opportunity the web has [...]
Marsh chief exec reveals details of its £295m purchase of Bluefin from Axa November 14, 2016 US insurance broking giant Marsh said that the Brexit vote had no bearing on its £295m purchase of UK small business specialist Bluefin. The deal, announced earlier today, means that Bluefin’s 1,500 staff across 45 offices will move from the Axa umbrella to the subsidiary of Marsh & McLennan Companies. Speaking to City A.M., Marsh chief exec Mark [...]
Most fintech employees don’t value diversity in the workplace November 14, 2016 Fintech might be shaking up the financial industry with disruptive innovation, but new research suggests it hasn’t been so ahead of the crowd on diversity in the workplace. In fact fintech employees place the lowest value on diversity in the workplace of all financial services workers, according to recruitment firm Astbury Marsden. The survey of [...]
British entrepreneurs enjoyed a five-year high in opportunities ahead of the EU referendum November 14, 2016 Britain enjoyed a five-year high in opportunities for entrepreneurs leading up to the EU referendum in June, but that progress is at risk of being set back by current uncertainty. According to Barclays' Entrepreneurs Index, overall UK entrepreneurial performance is at an all-time high – up 10 per cent since 2011 and showing strong progress [...]