Risk and reward: Adam French, co-founder of Scalable Capital, left Goldman to develop an algorithm for matching retail investors with the right ETFs December 5, 2016 For two years, Adam French knew he was leaving Goldman Sachs. “The day I quit was quite liberating – it’s just not that easy to step away from a Goldman job,” says the former trader, and chief executive and co-founder of digital investment management firm Scalable Capital. There was no “eureka moment”, he adds – [...]
New Builds: 600 new homes are set to be built on a site the size of three football pitches in south London December 2, 2016 The Quarry, Bexley A quarrying site that hasn’t been used in 40 years is set to be home to 600 new properties. The first new homes – 80 per cent of which will be modern family houses hoping to attract upsizers – will go on sale in the new year. There will also be a [...]
Four facts about Fintech Connect 2016 you need to know December 2, 2016 Are you a fintech pro? Then you'll know 2016 has been a year that keeps on giving where events are concerned. If you’re going to Fintech Connect Live this week, you’re sure of a big surprise: it promises to be bigger than ever. Why? Because every second you’re there, £634 will be made in fintech in the [...]
City Moves for 2 December 2016 | Who’s switching jobs December 2, 2016 Crowe Clark Whitehill National audit, tax and advisory firm Crowe Clark Whitehill has appointed Jim Gee as head of forensic and counter-fraud services. With more than 25 years’ experience, Jim has worked with clients all over the world in key sectors including healthcare, natural resources and insurance. He joins the firm from PKF Littlejohn. Jim was [...]
Barclays teams up with Creative England on new tech accelerator December 1, 2016 Barclays is teaming up with non-profit entrepreneurial support group Creative England on a new accelerator. The programme is aimed at companies working to apply the likes of gamification, the Internet of Things, and 3D modelling to other sectors that may not be seen as traditionally digital, like healthcare or tourism. The moves comes amid growing [...]
RBS on renewed drive to cut costs and shed assets after Bank of England stress test flop November 30, 2016 The Royal Bank of Scotland will now renew efforts to slash costs and shed assets, as it tries to bolster its balance sheet after flunking the Bank of England's most recent stress test. The worst performer of the seven lenders tested, RBS will now be monitored by the Bank's prudential regulation authority and has had to [...]
RBS shares opened lower after it was the worst performer in Bank of England stress tests November 30, 2016 Royal Bank of Scotland (RBS) became one of the biggest fallers on the FTSE 100 this morning, with shares opening 2.3 per cent lower at 192.5p, after it was revealed as the worst performer in the Bank of England's stress tests. Having dipped almost three per cent yesterday, shares in RBS fell further this morning after [...]
This is how UK banks have responded to the Bank of England stress test results November 30, 2016 The results of the Bank of England's latest stress tests on the UK's major lenders are out – and Royal Bank of Scotland has been handed the wooden spoon. RBS failed on all measures, while Barclays and Standard Chartered both missed out on one measure. The other banks being tested were Santander UK, Lloyds Banking Group, [...]
The results are out: Here’s how your bank would do if 2008 repeated itself November 30, 2016 Royal Bank of Scotland has failed all of the Bank of England's stress test measures, the worst performer among the UK's major lenders. RBS will now have to draw up a new capital plan, and the Bank's prudential regulation authority (PRA) will monitor its progress. RBS finance chief Ewen Stevenson said: "We are committed to creating a stronger, [...]
Oil prices edge up ahead of Opec meeting November 30, 2016 It's all getting very nervy ahead of a meeting of the Organisation of the Petroleum Exporting Countries' (Opec) later today. Members of the producer cartel will try to seal a deal on an output cut to clamp down on oversupply after oil prices have more than halved since 2014. And oil markets reflected the edginess – they inched [...]