Equivalence can’t trump passporting, warns boss of bank trade body October 5, 2016 Many of the alternatives to passporting would not allow the financial sector to continue business as usual, the chief executive of the British Bankers' Association has warned. Writing in his monthly newsletter, Anthony Browne noted that the passporting rules have "been a key factor in enabling the UK to grow as the financial capital of Europe". [...]
City Moves for 5 October 2016 | Who’s switching jobs October 5, 2016 Investec Wealth & Investment Investec Wealth & Investment (“IW&I”) has appointed Louise Hall as head of the firm’s London office. She takes over from David Bulteel, who is becoming head of IW&I’s international division. Louise Hall joined IW&I as a graduate trainee in 1989 and has led the firm’s specialist charities and not-for-profit division since [...]
Manchester United’s £630m squad named the most expensive in football history, costing £90m more than rivals Manchester City October 4, 2016 Manchester United's current squad is the most expensive in history after a record-breaking summer spending spree took its total cost to €718m (£628m), according to research from the CIES Football Observatory. The academic group based in Switzerland found that no club has ever invested more in its roster than United who ploughed €185m into the team [...]
City Moves for 30 September 2016 | Who’s switching jobs September 30, 2016 KPMG KPMG has appointed Paul Martin as UK head of retail. Paul will succeed David McCorquodale who has led KPMG’s retail practice in the UK since November 2012 and will be retiring at the end of April 2017 after 32 years with the firm. Paul is managing director of KPMG Boxwood and was formerly managing director of Planet Retail, [...]
Consumer confidence hits pre-referendum levels, but could inflation knock the UK economy off course? September 29, 2016 Brits are feeling just as optimistic about the state of the UK economy as they were before the referendum, a leading indicator has revealed. GfK’s consumer confidence barometer, out today, has bounced back to levels last seen in May and June, before the UK’s historic vote to leave the EU sent the index crashing at [...]
City Moves for 29 September 2016 | Who’s switching jobs September 29, 2016 Smith & Williamson Jim Clark and Philip Marsden, both of Marsden Clark Corporate Finance, have joined Smith & Williamson's corporate finance team. Jim is appointed as a director and Philip Marsden as a consultant, based at Smith & Williamson’s Moorgate office in London. Jim and Philip have over 50 years of transaction experience between them. [...]
On Her Majesty’s secret servers: GCHQ taps startups to fight cyber attacks September 23, 2016 Britain’s spooks are tapping startup geeks to help fight the growing battle against cyber threats, opening the insular intelligence agency to innovation and kickstarting ambitious plans for Britain to become a world leader in cyber security. GCHQ will begin the hunt for under the radar startups working on cutting edge technology to fight cyber crime, in a landmark partnership [...]
It’s eight years since the Lehman Brothers collapse. What’s changed? September 15, 2016 Eight years ago today US banking giant Lehman Brothers filed for bankruptcy. This was an unprecedented event in the modern financial world and it sent shock waves through global markets. We're still recovering from some of them. The bank's collapse has now entered the vocabulary as a term for when an industry has a potentially catastrophic moment. It is used again. And again. And again. And again (maybe it [...]
Shadow MPC calls on Mark Carney to wait before pulling the trigger on another rate cut September 14, 2016 City economists have told Mark Carney to keep interest rates glued at their record low when the Bank of England meets today. City A.M.’s Shadow monetary policy committee (MPC) voted eight-to-one in favour of holding rates at 0.25 per cent, as experts said the governor and his fellow rate-setters should wait for more signs of [...]
We need to change perceptions of apprenticeships – especially for entry into professional jobs September 14, 2016 Barely weeks after the drama of A-level results, new university students can probably be forgiven for not interrupting the bacchanalia of Freshers’ Week to think too hard about their future careers. Yet the first term of university and independence can be a tumultuous time, and many bright young students will likely find themselves rethinking their [...]