After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]
Financial services have prospered inside the EU: Brexit would only see the City shrink June 21, 2016 How we vote on Thursday will have an impact on the whole country, but on Britain’s financial services industry in particular. There will, of course, be an immediate reaction in the markets. But Thursday’s decision will also help determine the future size and shape of our financial sector. Financial services are important because they are Britain’s single [...]
EU referendum: Voting Remain could create another 75,000 jobs in London, according to Confederation of British Industry June 21, 2016 There is the potential to create more than 75,000 jobs in London if the UK votes to remain in the EU, according to new research. Analysis of figures from the Treasury by the Confederation of British Industry (CBI) found that staying in the EU and deepening economic ties with other member states could lead to the creation of 75,430 [...]
Prudentials pulls back from the UK open annuity market June 20, 2016 Prudential will no longer offer annuities on the open market and only make them available to existing customers, stoking concerns it will hit individuals' ability to shop around for the best deal. The insurer said it'd stopped accepting applications for conventional annuities from non-existing customers though financial advisors on 17 June. It cited reduced demand [...]
City Moves for 20 June 2016 | Who’s switching jobs June 20, 2016 Burford Capital Burford Capital, a global finance firm focused on law, has expanded its team in London. Leeor Cohen has been appointed vice president. Most recently a director in the leveraged finance business at Bank of America Merrill Lynch, Leeor joins Burford’s global investment team with a broad range of experience as a lawyer, investment [...]
As the Bank of England launches an accelerator, will fintech transform central banking as much as other financial services? June 20, 2016 Nick Bouch, financial services data leader at PwC, says Yes. The rapidly changing tech landscape raises a challenge to central banks to keep pace with the sophistication of the economic activity they govern. With the rise of blockchain, cloud, mobile and robotics, economic activity is shifting at an ever increasing pace from physical to digital. [...]
City Moves for 17 June 2016 | Who’s switching jobs June 17, 2016 PwC Andrew Kail has been appointed as leader of PwC’s UK financial services practice, succeeding Kevin Burrowes who is joining PwC’s executive board as head of clients & markets. Andrew has over 25 years of experience with PwC, having operated in a variety of financial services roles, most recently as head of the FS Assurance [...]
New EU audit reforms of Public Interest Entities could open up £10bn market for advisers, according to new research June 17, 2016 New EU audit reforms affecting Public Interest Entities (PIEs) that come into effect today could open up a £10bn market for advisers, according to new research from accountancy and business advisory firm BDO. PIEs will be required to tender their statutory audit at least every decade, while mandatory audit rotation will be enforced every 20 years. The directive [...]
The FCA’s new broom must act fast to revive confidence in the regulator June 16, 2016 Tonight Mansion House once again acts as host to the great and good of the City’s financial services fraternity. Amid inevitable chatter about the EU referendum vote and darkening global economic clouds, attention will turn to the imminent changing of the guard at the Financial Conduct Authority. Almost a year has passed since its first [...]
Why Avant’s Al Goldstein is excited about partnering with big banks June 16, 2016 Despite being just four years’ old, Avant Credit is one of the largest marketplace lenders in the alternative finance industry. The US firm has been operating in the UK since 2013, and has issued over half a million loans to consumers, totalling more than $3bn in originations. Avant isn’t a P2P lender – it uses [...]