Banking
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Weekend reads: What to expect now for home prices, stocks and bonds
This week Freddie Mac said the average interest rate on a 30-year mortgage loan in the U.S. had climbed to…
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Societe Generale names investment bank boss Krupa as next CEO
Societe Generale has chosen investment bank boss Slawomir Krupa as its next chief executive as Frédéric Oudéa prepares to step down…
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Biden administration announces new sanctions on Russia after annexation of four Ukrainian regions
The Biden administration on Friday rolled out new U.S. sanctions against Russia, with American officials describing them as “swift and…
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Trading Places: Morgan Stanley’s new Europe dealmaking chief, Credit Suisse’s senior hires, JPMorgan’s ECM shake-up
It’s been a pretty busy week for movers and shakers in the City. Here’s the shifts you need to know…
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Barclays suffers $361m fine from US regulators over trading blunder
B arclays has been fined $361 million (£327.3 million) by US regulators after it breached a limit on the sale…
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City bankers take gongs at annual awards for Black British businesses
The City’s top Black professionals and rising stars were honoured at a celebration of business talent on 29 September. In…
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Apple stock may not be a ‘safe haven’ for much longer, Bank of America warns in downgrade
Apple Inc. has beaten the broader technology industry this year, but a Bank of America analyst isn’t sure that the…
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Bank of England intervenes to buy bonds amid pound chaos: ‘It looks pretty ugly’
The Bank of England will intervene in the market chaos engulfing the pound, with a plan to purchase long-dated UK…
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Q&A with Pinnacle boss Ian Macoun: Fear and greed drive markets. They are gripped by fear at the moment
Australia-based Pinnacle Investment Management was founded by Ian Macoun in 2006, after he spent a period working in the country’s…
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JPMorgan installs Mangla as ECM chief as Millman moves to chair role
JPMorgan shook up the senior ranks of its equity capital markets business, naming a new sole head of the unit…
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Plum becomes latest fintech to move into crypto with Bitpanda deal
Plum has become the latest fintech to dip its toes into digital assets, with plans to offer European customers crypto…
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Rothschild & Co hires JPMorgan’s Swiss dealmaking chief Bossart
Rothschild & Co has hired JPMorgan’s head of Switzerland to lead its investment banking unit in the country. Nick Bossart…
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Bank of Ireland fined more than 100m euro over tracker mortgage breaches
B ank of Ireland has been fined more than 100m euro by the Central Bank for regulatory breaches affecting tracker…
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Energy, Finance and Telecoms Corporations Test Their Cyber Mettle
Corporations in energy, finance and telecommunications got together last week to square off on their cyber-defense skills, a match that…
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Tandem Bank chief executive Susie Aliker steps down after 18 months in the top job
Challenger bank Tandem is to get a new chief executive, after current boss Susie Aliker handed in her resignation just…
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Citigroup hires Credit Suisse’s Jens Welter to co-head European investment bank
Citigroup has tapped one of Credit Suisse’s top dealmakers to co-head its investment banking unit in Europe, as the Swiss…
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Credit Suisse names new investment bank leaders after Welter quits for Citigroup
Credit Suisse has named two new leaders of its European investment bank after 27-year veteran Jens Welter quit to join…
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Kwarteng tells bankers to expect Big Bang 2.0 despite market volatility
Chancellor Kwasi Kwarteng told leading bankers he was committed to fiscal discipline in a 28 September meeting, as the pound continued…
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Wall Street pays $1.8bn in fines after traders use banned messaging apps
Eleven of the world’s largest banks and brokerages will collectively pay $1.8bn in fines to resolve regulatory investigations over their…
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Stuart Kirk slams coal divestments as ‘immoral’ in latest spat with ex-employer HSBC AM
HSBC Asset Management’s former responsible investing boss Stuart Kirk, who quit in July amid controversial comments he made on climate…
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NASA’s successful DART asteroid collision lifts space stocks
The successful collision of a NASA spacecraft with an asteroid lifted space sector stocks before market open Tuesday. The vending-machine…
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Jupiter’s new chief plans restructure to revive struggling asset manager
The incoming chief executive of Jupiter Asset Management has told staff that the FTSE 250-listed group will undergo a restructuring…
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Boutique Qatalyst Partners pays London dealmakers £1.3m after bumper year
A boutique investment bank specialising in big-ticket technology deals paid a handful of London-based dealmakers an average of £1.3m last…
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Ex-Credit Suisse chair António Horta-Osório joins PE firm Cerberus Capital Management
Former Credit Suisse chair Sir António Horta-Osório has joined Cerberus Capital Management as a senior adviser in Europe, adding to…
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Goldman Sachs’ European ECM and leveraged finance team hit hardest by layoffs
Goldman Sachs’ equity capital markets and leveraged finance teams bore the brunt of its latest cut-backs in its European investment…
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Freetrade turns to crypto for European growth, plans to break even in 2024
Freetrade has set its sights on cryptocurrencies as part of a push into Europe, as the well-known trading app plans…
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FTX wins auction to acquire bankrupt crypto firm Voyager with $1.42bn bid
FTX has won an auction to acquire bankrupt cryptocurrency lender Voyager Digital with a bid valued at $1.42bn. The valuation comprises $1.31bn…
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Crédit Agricole subsidiaries to settle alleged US sanctions breaches
Two subsidiaries of French bank Crédit Agricole’s corporate and investment banking arm have agreed to pay more than $1.12m in civil penalties…
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HSBC trims UK investment bankers as layoffs pick up pace
HSBC has trimmed front-line staff from its investment bank in the UK, as a dealmaking slump this year is set…
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Credit Suisse set to roll out new retention bonuses for UK dealmakers
Credit Suisse is set to extend retention bonuses to a select band of senior dealmakers in London in a bid…
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Banker bonus cap scrapped as Kwarteng reveals ‘growth plan’
Chancellor Kwasi Kwarteng has confirmed the government will scrap the cap on banker bonuses. “A strong UK economy has always…
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Goldman to cut poor performers in annual cull
In a return to pre-pandemic practice of hiving off low-performing staffers from the bank, Goldman Sachs is set for a…
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JPMorgan’s Daniel Pinto says banks need to be ‘very careful’ about cutting dealmaker jobs
The head of JPMorgan’s investment bank said banks need to be “very careful” about making deep cuts to dealmakers, even…
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Barclays CEO Venkat sees trading boom fading next year
Barclays’ chief executive warned that the boom in trading revenue that has helped banks offset a slump in dealmaking fees…
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FTX and Binance lead bids for bankrupt crypto lender Voyager
Crypto exchanges FTX and Binance have made the leading bids for the assets of bankrupt crypto lender Voyager Digital, according…
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Top Nomura banker Steven Ashley steps down to run digital assets unit
Steven Ashley, Nomura’s most senior banker in the City, is stepping down from his role as head of its wholesale…
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Citigroup’s European healthcare deals chief Anthony Hartley set to depart
Citigroup’s head of healthcare investment banking in Europe is stepping down from the bank after six years in the role.…
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Kraken CEO Jesse Powell steps down
Jesse Powell, an early bitcoin backer and co-founder of the cryptocurrency exchange Kraken, plans to step down from his role…
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US court orders Tether Holdings to prove sufficient reserves to back stablecoin
A judge for the Southern District of New York ordered the issuer of the largest stablecoin to produce financial records…
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Credit Suisse draws up plans to split investment bank in three
Credit Suisse could split its struggling investment bank into three parts, a move that would involve thousands of job cuts…
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Jupiter’s new boss axes up to 80 roles in overhaul of asset manager
Jupiter Asset Management’s incoming chief executive is poised to unveil a wave of job cuts as he readies to take the…
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JPMorgan boss Jamie Dimon calls bitcoin and other crypto tokens ‘decentralised Ponzi schemes’
Jamie Dimon hasn’t relented in his rhetoric against cryptocurrencies, calling bitcoin and other digital tokens little more than “decentralised Ponzi schemes”…
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HSBC AM to phase out coal investments
HSBC’s fund arm said it will phase thermal coal companies out of its portfolios in a toughening of its stance on climate…
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Wells Fargo bolsters M&A team in Europe and Asia with three senior hires
Wells Fargo has hired a trio of senior dealmakers to bolster its M&A team in Europe and Asia. The US…
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Binance poaches Kraken compliance boss as crypto readies for regulation
Binance, the world’s largest cryptocurrency exchange by spot-trading volume, has snatched up the former chief compliance officer from rival Kraken,…
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Trading Places: HSBC, Credit Suisse, Jupiter plan cuts, Kirkland scores two London partners
After a bumper year for banks in 2021, it looks like it’s job cuts time again. HSBC is trimming UK bankers…
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JPMorgan’s Dimon and Citi’s Fraser get ready for Capitol Hill battle over banks’ capital buffers
JPMorgan CEO to focus on beneficial role of banks, but will sound off on how inflation is hurting consumers and…
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Citi sets new Black employee target at 3% for UK
Citigroup is aiming to increase its proportion of Black employees in the UK to 3% over the next three years, as…
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Boss of jewellery firm Astrid & Miyu inspired by ‘magical’ shopping on trips
C onnie Nam spent a lot of her childhood travelling: “I grew up in the US and South Korea, and…
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Fintech Files: Carson Block on shorting crypto, and did Ethereum’s ‘Merge’ matter?
Short-seller and hedge-fund founder Carson Block made a name for himself more than a decade ago sniffing out suspicious companies…
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