Moneysupermarket.com expects 10 per cent growth in revenues for first half of 2016 July 14, 2016 Price comparison website Moneysupermarket.com said it expects to report solid results for the six months to 30 June, with revenues set to rise by 10 per cent. The online firm is expecting revenue to hit £157.6m for the first half, £142.1m of which will come from the main Moneysupermarket website. Consumer advice site Moneysavingexpert, which was bought [...]
City Moves for 14 July 2016 | Who’s switching jobs July 14, 2016 Funding Circle Lending platform Funding Circle has appointed Jeremy Bennett as its new global chief financial officer. Jeremy has more than three decades of experience within financial services, working for Credit Suisse, before becoming CEO of Nomura in Europe, Middle East and Africa and CEO of Nomura International. During the financial crisis, he acted [...]
Austin Reed’s creditors set to shed large sums after high street retailer’s collapse July 10, 2016 Austin Reed's creditors face big losses due to the collapse of the high street store, accounts from the administrators have revealed. Documents filed in Companies House by the administrators for Austin Reed, Alix Partners, show the company's unsecured creditors will be given £600,000 between them after the collapse of the chain. Read more: Austin Reed employees found out [...]
Unintended consequences: Tinkering with Solvency II July 8, 2016 Tinkering with things is in the nature of regulators. Inevitably, however, well-intentioned tinkering often delivers unintended consequences. Today, the unintended consequences of tinkering are emerging in London’s international specialty insurance market, notably following Solvency II, which specifies the amount of capital that insurance companies must hold to reduce the risk of insolvency. While the impact of the EU referendum [...]
Credit Suisse boss Tidjane Thiam blames Brexit vote on poor British education and calls for higher taxes to fund UK schools July 3, 2016 Credit Suisse boss Tidjane Thiam has blamed the UK's decision to leave the EU on a lack of investment in British education. Speaking at a business conference in southern France on Sunday, Thiam recalled a visit to a school in Tower Hamlets where he found out that around half of the children only ate once a day. [...]
City Moves for 1 July 2016 | Who’s switching jobs July 1, 2016 UniCredit UniCredit, Italy's biggest bank by assets, has appointed Jean Pierre Mustier as CEO. Jean Pierre began his career at Societe Generale where he held various positions from 1987 to 2009. In 2003, he was appointed head of Societe Generale’s corporate and investment banking division and member of the bank’s executive committee. From 2011 to [...]
Trading suspended in Barclays and RBS as European bank shares crash June 27, 2016 Trading in bank shares was temporarily suspended on multiple occasions today as the value of European lenders tumbled in response to the vote to leave the EU. Financial giants Barclays and Royal Bank of Scotland (RBS) both fell more than 18 per cent by lunchtime as markets increasingly turned on stocks perceived to be most at risk from prolonged uncertainty [...]
I’m a migrant and entrepreneur: We all deserve better than Brexit June 23, 2016 I’m a Polish migrant and a successful entrepreneur, and I proudly call London home. Having lived in Krakow, Dublin and New York, it was London’s dynamic intersection of cultures from all over the world (and the EU in particular) that made me want to put down roots here. But sadly that dynamism has started to ebb away [...]
City Moves for 22 June 2016 | Who’s switching jobs June 22, 2016 Blackwell’s Independent bookseller Blackwell’s has confirmed the appointment of its head of operations, Kate Stilborn, to the company’s board in the newly created role of customer service & operations director. Kate, who has been with Blackwell’s for 23 years, will oversee its commitment to delivering excellence in customer service across multiple channels, including online, and [...]
These are the seven fintech startups being backed by Mastercard June 21, 2016 Mastercard is backing seven fintech startups hoping to change the way we use money and disrupt the finance world. London startups Revolut and Everledger are among the tech firms chosen for Mastercard's six month Start Path programme from among more than 500 applications from 60 countries. The startups, from as far afield as Israel and Argentina and announced at London [...]