Former London Stock Exchange chief Xavier Rolet close to City return with hedge fund CQS November 17, 2018 Former London Stock Exchange (LSE) chief executive Xavier Rolet is in advanced talks to become a co-chief executive at leading hedge fund manager CQS. The Frenchman left his job at the LSE Group in contentious circumstances last year, after being asked to step down by the board a year earlier than planned in a bid to end [...]
Brexit: These are the MPs who have submitted no confidence letters to the 1922 Committee November 16, 2018 The number of MPs who have admitted to sending no confidence letters in Prime Minister Theresa May surpassed more than 20 today as the threat of a no confidence vote grows. A total of 48 letters must be sent to Sir Graham Brady, chair of the influential backbench 1922 Committee in order to trigger such a [...]
No confidence vote in Theresa May set to go ahead as Conservative MPs send letters to 1922 Committee November 16, 2018 A confidence vote in the Prime Minister is now reportedly likely, as the number of no confidence letters submitted by Conservatives have reached the limit required to trigger a vote. The forty-eight letters required to force a confidence vote are now with the chairman of the 1922 Committee, according to Brexit Central, which cited an anonymous [...]
Editor’s Notes: Nobody has a clue what’s going to happen November 16, 2018 Westminster has entered a period of chaos, marked by the usual signs of political turmoil: marquees outside parliament for camera crews, protesters desperately trying to get in shot and MPs from all sides of the debate milling around trying to get on the air. In the City, frantic movements in sterling and a sizeable hit [...]
Morgan Stanley banker drops out of RBS finance chief race November 15, 2018 Morgan Stanley investment banker William Chalmers has pulled out of the race to take the chief financial officer job at the Royal Bank of Scotland. Chalmers had been in the running to replace Ewen Stevenson as the bank’s CFO, but has now withdrawn from the race, it is understood. Sky News reported Chalmers had come [...]
Brexit live blog: Prime Minister Theresa May defies rebels, saying she will carry on in ‘national interest’ November 15, 2018 Welcome to City A.M.’s live blog – we’re keeping an eye on the breaking Brexit News today. Refresh the page occasionally for updates. 10:29pm – City A.M.: May’s ‘Not out’ Things have stayed quiet for some time now, and despite the occasional rumble, it looks like we’ll have to wait until tomorrow to hear more. Looking [...]
Max Verstappen’s rivalry with Esteban Ocon dates back almost a decade and their latest spat could be the first of many in Formula One November 15, 2018 When Max Verstappen shoved Esteban Ocon on Sunday in the weighing area at the Brazilian Grand Prix, fans were given a glimpse of what could be Formula One’s next big rivalry. The pair came to blows after the race because Verstappen was furious at being denied victory by a collision with Ocon, who was attempting [...]
The City wants to cheer May over the line November 14, 2018 The Outline Political Declaration on the Future Relationship was published alongside the legalistic 585-page Draft Withdrawal Agreement and while everyone picks over the latter, the former has put a modest spring in the step of City groups. In the Political Declaration, a mere seven pages, the UK and EU set out their commitments to “preserving [...]
Fintech startup Revolut is in talks to raise $500m from Softbank November 12, 2018 British fintech startup Revolut is raising a $500m (£389m) series D round from the likes of Japanese mega-investor Softbank, in order to fuel its aggressive expansion plans. Several sources have told City A.M. that the deal is set to close early next year, as Revolut tries to launch its banking app in the US, one of [...]
CYBG axes deal with former Barclays boss following Virgin Money merger November 12, 2018 The new owner of Virgin Money has cancelled the bank’s partnership with a technology company run by former Barclays chief executive Antony Jenkins. CYBG, which also owns Clydesdale and Yorkshire Bank, axed the deal following its £1.7bn takeover of Virgin Money in September, Sky News reported. Virgin Money had hired Jenkin's fintech start up 10X [...]