Challenger banks: Moody’s says smaller lenders are poised to compete with Britain’s big banks for a share of the UK mortgage market February 25, 2016 British challenger banks are poised to compete with larger lenders for a share of the mortgage market, Moody’s Investors Service has said. In a new report out today, Moody’s said challengers are likely to use securitisation to compete for a bigger share of the UK mortgage market. “Increasing competition in the mortgage market driven by [...]
Former Sainsbury’s boss Justin King is confirmed to headline Norwood Investec Annual Private Equity charity dinner February 22, 2016 Investment barons across the City are already looking forward to Jewish charity Norwood’s annual private equity dinner in June, as ex-Sainsbury’s boss Justin King has just been named the headline act. King, who left his chief exec position at the supermarket in 2014, will be the guest speaker at the dinner, this year sponsored by [...]
Lloyds Banking Group could pay out more than £2bn in dividends to shareholders despite fears of higher costs related to PPI claims February 21, 2016 Lloyds Banking Group is reportedly getting ready to pay out more than £2bn in dividends to shareholders, despite fears of further costs related to the mis-selling of loan insurance. The Sunday Times reported today that Lloyds chief executive Antonio Horta-Osorio is attempting to convince regulators that the bailed-out bank has enough capital to afford the [...]
City Moves for 17 February 2016 | Who’s switching jobs February 17, 2016 Investec Investec Securities has announced the appointment of Andrew Whitney to its research team to cover the pharmaceuticals sector. Andrew joins from EY, where he was a senior manager in the corporate finance strategy team, conducting strategy projects and deal diligence in the life sciences and healthcare sectors. He has extensive experience in pharmaceuticals research, [...]
Bank chiefs warn of more pain to come as cost cutting expected to be ramped up February 17, 2016 Britain's bank bosses have warned that cost cutting measures will have to be ramped up as stunted revenues and low interest rates continue to take their toll on the sector. A survey of UK bank chiefs by PwC found that almost 70 per cent said they expect to implement a cost cutting scheme in the next [...]
Standard Chartered share price: Investec analysts downgrade bank stock after just two days following share price rally February 16, 2016 Investec has downgraded Standard Chartered to a “hold” rating just two days after upgrading the lender to a buy, after shares in the Asia-facing bank rallied by more than 17 per cent in just two working days. Standard Chartered has struggled since the start of the year, with shares tumbling by over 20 per cent. [...]
Banking experts hit back at claims from Sir John Vickers that the Bank of England is not forcing lenders to hold enough money in capital buffers February 15, 2016 Banking experts have questioned Sir John Vickers’s claims that the Bank of England is not doing enough to shore up the British banking industry, saying more capital requirements for lenders would hurt the real economy. Vickers, who led the Independent Commission on Banking (ICB), told the BBC this morning that the Bank “might want to [...]
Greed is not so good: Britain’s bankers are more stressed than ever February 15, 2016 It might be time to feel sorry for Britain's bankers. Apparently turning into social pariahs after the financial crisis has taken its toll on their mental health. Demand for insurance to protect revenues against the cost of paying staff who are too stressed to work has surged, according to data from financial services group Willis [...]
People, planet and profit: How to build sustainability into your business February 1, 2016 Every business wants to be sustainable – this is, by definition, about being set up to succeed over the long term. For a business to be truly sustainable, it is important to balance three priorities: people, planet and profit. We all rely on people and natural resources, and we’re looking to achieve a profit. If [...]
City Moves for 27 January 2016 | Who’s switching jobs January 27, 2016 Indigo Planning Indigo Planning has appointed of Julie White as associate. Julie joins the consultancy firm with more than 15 years’ national and regional industry experience. Much of Julie’s work has focused on delivering residential and mixed-use proposals for private developers, as well as major retail projects for a national supermarket operator. She also has experience [...]