Barclays sets aside £800m for Forex as profits fall 26 per cent April 29, 2015 Barclays has put aside £800m to cover potential costs mainly resulting from legal action over alleged foreign exchange manipulation. The figures The bank made the announcement as part of its first quarter results, which revealed a 26 per cent drop in statutory profits, which came in at £1.34bn. The drop was mainly down to one-off [...]
Who’s the fastest City London Marathon runner? Capco star Andy Greenleaf steals a march on Mark Carney April 28, 2015 Who is the fastest runner in the City of London? The Capitalist has challenged City runners to beat the banker by submitting their Virgin Money London Marathon race times and we've already seen some pretty impressive times come in. Fit as a proverbial fiddle, Bank of England governor Mark Carney was commended for completing [...]
Why would Bob Diamond want to buy a bank in Rwanda anyway? April 28, 2015 So Bob Diamond's Atlas Mara is eyeing a second bank in Rwanda. The former Barclays boss's pet project is reportedly in talks to buy a 45 per cent stake in Banque Populaire du Rwanda (BPR) – a snip at $22.m (£14.7m). That's after its acquisition of BRD Commercial Bank, another Rwandan lender it bought last [...]
Bank holiday cancelled: RBS branches stay open on Monday April 27, 2015 Bank holidays could soon be a relic of a bygone age of short opening hours and inconvenient service, as RBS plans to open dozens of branches this Monday. As internet and mobile banking have taken off, branch use has plummeted, prompting banks to try to make access to their expensive high street sites more convenient. [...]
London Marathon 2015: City gents set a better rate than Bank governor Mark Carney April 27, 2015 In the race for success in the City, business leaders were spotted donning their Sunday best high-tech lycra at the weekend, to pit their footsies against each other in the fiercest battle of the year so far – the Virgin Money London Marathon 2015. From firing-line to finish, top-dog in the pack of City wolves [...]
Bob Diamond firm Atlas Mara eyes up Banque Populaire du Rwanda as Africa expansion continues April 27, 2015 Bob Diamond’s firm Atlas Mara is in talks to buy a second Rwandan bank, as part of his plan to shake up lending across Africa. If the deal goes ahead, Atlas Mara will acquire a 45 per cent stake in Banque Populaire du Rwanda (BPR), on an investment of $22.5m (£14.7m). BPR has 191 branches [...]
City Moves for 28 April 2015 | Who’s switching jobs April 27, 2015 Saffery Champness Liz Hazell has been appointed head of the accountancy firm’s not-for-profit group. She has more than 20 years’ experience working in the sector and, before joining Saffery Champness last year, Hazell was head of charities at PwC. Freshfields Bruckhaus Deringer The law firm has announced that Jennifer Bethlehem and Piers Prichard Jones have [...]
London Marathon 2015: After Mark Carney thrashed Barclays boss Antony Jenkins, how well does your race time compare? April 27, 2015 Mark Carney beat Antony Jenkins in the high-finance battle at the London Marathon yesterday. The Bank of England’s 50-year-old governor produced a mercurial run, beating Jenkins, the 53-year old Barclays chief executive, by an hour and a half. Carney’s time of 03:31:22 was faster than the men’s average of 04:04:30, and far faster than the [...]
City triumphs in marathon April 27, 2015 CITY titans including Goldman Sachs’ co-head of UK investment banking Anthony Gutman, Barclays’ group chief executive Antony Jenkins and Virgin Money boss Jayne-Anne Gadhia traded their suits for vests yesterday for the London Marathon. Gadhia, who finished in six hours and 23 minutes, raising £56,125 for Cancer Research, told City A.M.: “I’m elated. I’m delighted [...]
ETF sector toasts 15 years since its London launch April 26, 2015 THE FIRST ever UK exchange traded fund (ETFs) launched 15 years ago today, a milestone moment for an industry which can boast a near 5,000 per cent revenue rise in 10 years. London’s ETF market generated turnover of £185.4bn last year, up from £3.9bn in 2004, according to figures from the London Stock Exchange. “The [...]