Banks need to make Brexit job decions in the first half of 2017, says Citi’s European chief January 24, 2017 Citigroup’s European boss has said his bank, and others, will make decisions on Brexit-motivated job moves in the first half of this year. James Cowles, Citi's chief executive for Europe, Middle East and Africa, said his firm’s issue is with its broker-dealer business, which is currently headquartered in the UK. “We come into this actually from [...]
HSBC to close another 62 branches this year January 24, 2017 HSBC is set to close another 62 branches across the UK this year, the banking giant announced today. This takes the total number of branches closing this year to 117. The move marks the end of "HSBC's branch restructuring programme", Antonio Simoes, chief executive of the banking giant, said. “We now feel we have the right branch network that [...]
Shares in Fever-Tree are sparkling as City analysts say the company has more room to grow January 24, 2017 Shares in posh tonic maker Fever-Tree shot up more than seven per cent in morning trading as the company's chief executive Tim Warrillow told City A.M. the brand is still “very early on” in its growth. The figures In a trading update the brand said its full-year like-for-like sales were expected to rise 75 per cent from the previous year, [...]
City Moves for 23 January 2017 – who’s switching jobs? January 23, 2017 Today's City Moves are dominated by lawyers and bankers. While Andrew Oldland has joined Michelmores LLP, Lloyds Bank has appointed Stephen Quinn to head its global financial sponsors team. Take a look at these movers and shakers: Michelmores LLP Barrister, Queen’s Counsel and part-time judge Andrew Oldland has been appointed as senior partner at Michelmores LLP. He will be [...]
The five beauty tech startups joining L’Oreal and Founders Factory’s incubator January 22, 2017 Five startups hoping to disrupt the multi-billion pound world of beauty have been chosen by L'Oreal and Founders Factory, the London tech incubator from LastMinute.com entrepreneurs Brent Hoberman and Henry Lane Fox. Preemadonna, a startup creating a nailbot that can print designs onto nails via a mobile phone, and InistU, an online skincare company, are among the five [...]
British Land’s share price falls as occupancy rates dip January 19, 2017 British Land's share price fell today after it said that its occupancy rates have fallen, with tenants signing up for shorter leases. In its third quarter trading update, the commercial property giant reported a 97 per cent occupancy rate, with an average lease length of eight years. However, this compared to an occupancy rate of 98 [...]
Goldman Sachs’ veteran Michelle Pinggera to retire from bank January 19, 2017 Goldman Sachs' international chief of staff is to step down after 28 years at the Wall Street titan. Michelle Pinggera, who also has some responsibility for overseeing the bank's Brexit plans, is due to leave the investment giant at the end of March, around the same time the Prime Minister will trigger Article 50. In a [...]
City Moves for 19 January 2017 | Who’s switching jobs January 19, 2017 GFT Technologies Christian Ball has been appointed head of retail across the Atlantic region at GFT, a provider of business, technology and design consulting to global banks. Christian brings extensive experience with him to spearhead GFT’s retail banking team and is joining the firm from Meniga, one of the top-performing fintech companies in Europe. In the [...]
London tech startup SuperAwesome is considering an IPO January 18, 2017 A London tech startup specialising in helping brands such as Lego, Mattel, and Peppa Pig maker eOne comply with rules on advertising to kids online is considering an IPO. SuperAwesome is exploring a potential listing on the London Stock Exchange this year, City A.M. understands, and has engaged with several City institutions at the early stages of exploring going public, but has [...]
Business rates block foreign investment into UK retail January 18, 2017 Sky-high property taxes are making foreign companies think twice about expanding in the UK. Business rates have increased markedly since they were introduced in 1990, and have now become a barrier to foreign investment, according to a new report. A paper from shopping centre owner Intu and shopping centre representative group Revo has recommended business rates [...]