Investment Association and KPMG team up to warn asset managers on threats of cyber breaches May 1, 2018 The Investment Association is teaming up with big four auditor KPMG to launch a report into cyber resilience for asset management as it launches a key conference in the City today. The trade body for asset managers will bring together law enforcement experts and government agencies to launch the joint report, titled “Building Cyber Resilience [...]
Global markets tumble as US bond yields unnerve investors April 25, 2018 Global equity markets have tumbled amid worries that growing US treasury yields will increase interest rates and drive up borrowing costs. The American treasury yields hit their highest level in nearly four years, brushing just over three per cent yesterday, due in part to rising inflation and worries over a more assertive Federal Reserve. Read [...]
Lloyd’s of London launches Brussels hiring spree as new EU base takes shape April 24, 2018 Lloyd’s of London today kicked off a search for new staff in Brussels as it prepares for Britain’s exit from the EU. The iconic London insurance market rolled out plans last year to established a new European headquarters in Belgium to mitigate the fall-out from Brexit. Lloyd’s is advertising vacancies for frontline underwriters as well [...]
Goldman Sachs hires new head of digital assets to explore cryptocurrencies such as bitcoin (BTC) April 23, 2018 Goldman Sachs has hired a new head of digital assets as the investment bank considers how to answer burgeoning client demand for cryptocurrencies such as bitcoin. Justin Schmidt will be vice president and head of digital asset markets based at the Wall Street giant, the bank confirmed today. He was formerly senior vice president at [...]
London Stock Exchange Group appoints Goldman Sachs veteran David Schwimmer as its new chief executive April 13, 2018 The London Stock Exchange Group (LSE) has appointed David Schwimmer, a longtime Goldman Sachs banker, as its new chief executive. Schwimmer will join the group on 1 August, succeeding Xavier Rolet, who left amid a bitter public row with an investor to oust the group’s chairman, which was sparked by the announcement in November 2017 [...]
Goldman Sachs boss Blankfein on Brexit: ‘I would have thought there would have been a worse outcome by now’ April 12, 2018 Goldman Sachs chief executive Lloyd Blankfein said that he is surprised that Brexit has not had a more negative effect on the UK economy. In an interview with Politico in Brussels today, Blankfein said that he was surprised at how little effect Brexit has had at this stage. “I am wrong because I would have [...]
Financial services bosses back the City to remain Europe’s hub after Brexit April 9, 2018 The vast majority of global financial services bosses believe London will remain at the pinnacle of the European industry after Brexit in spite of widespread fears that leaving the EU will dent the UK economy, according to a survey of bosses at big firms. Some 88 per cent of the more than 100 senior leaders [...]
From vicars to City titans: Goldman Sachs, Shell and Barclays among names behind £550m Lloyds legal battle | City A.M. April 4, 2018 Today City A.M. reveals the varied and surprising names behind a massive £550m legal battle with Lloyds over its takeover of HBOS at the height of the financial crisis – and the cast includes major institutions, aristocrats, vicars and politicians. The groups, which includes institutions such as Goldman Sachs, Nomura Asset Management and pension funds [...]
Aviva boss Mark Wilson paid £4.3m last year after bonus bump March 27, 2018 The chief executive of insurer Aviva was paid £4.3m last year, with nearly £2m of that coming as a bonus after a strong year. Chief executive Mark Wilson received £1.028m as a basic salary, a £1.945m bonus, £966,000 in long-term share incentives and £288,000 in pension payments. His total remuneration actually dipped from last year [...]
Clifford Chance breaks ranks with magic circle to include partners in its gender pay gap figures March 27, 2018 Clifford Chance has included its partner pay in its gender pay gap report, the first magic circle law firm to do so. The firm revealed today that it had a mean hourly pay gap of 66.3 per cent, falling to 27.3 per cent in its partnership ranks, 27.7 per cent among its business services staff [...]