C&E Industry News Filter
- Finance
Damning Archegos report slams ‘lackadaisical’ attitude to risk at Credit Suisse
Credit Suisse’s $5.5bn loss from the collapse of family office Archegos Capital was down to a “fundamental failure of management”…
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Lazard CEO Jacobs set for 12 star dealmaker hires amid record second quarter
Lazard is continuing to hire senior dealmakers amid an M&A boom that has pushed the independent investment bank to a record…
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Monzo faces FCA scrutiny over financial crime controls
Monzo has warned for the second consecutive year that there is “material uncertainty” over whether it can turn a profit…
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Trading Places: Credit Suisse nabs Goldman risk boss; Barclays’ overhaul rages on
As Credit Suisse continues to reel from scandal, the bank tapped a Goldman Sachs executive as its next chief risk…
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Freshfields profit per partner gains to almost £2m in wake of Magic Circle pandemic boom
Freshfields Bruckhaus Deringer has become the latest major law firm to report a jump in revenue and profit as the City’s legal sector…
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Bank of America hires Goldman’s Malhotra in leverage finance leadership role
Bank of America re-hired a senior Goldman Sachs dealmaker to lead its leveraged finance origination business in Europe. Uday Malhotra…
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BNP Paribas equities trading revenues double as push continues
BNP Paribas’ ongoing push into equities trading led to a record quarter for the unit, but its investment bank revenues still…
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Robinhood suffers stock price dip after hyped IPO
Robinhood, the trading app synonymous with hot stocks, got a cold reception from investors in its own stock-market debut. The investing…
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Barclays unveils new M&A leaders in Europe as shake-up continues
Barclays named new leaders of its European mergers and acquisitions team in Europe, the latest shake-up at the UK lender’s…
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Barclays dealmakers post record quarter despite sharp fall in fixed income trading
Barclays investment bankers posted a record quarter despite a 40% slump in fixed income trading revenues as fees surged during…
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Jupiter’s Bonham Carter on why he’s sceptical about Spacs
City fund management veteran Edward Bonham Carter has called into question the investor benefits of so-called special purpose acquisition companies,…
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Robinhood prices IPO at bottom of range on tepid demand
Robinhood priced its initial public offering at $38 a share, at the low end of expectations, after the popular trading…
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View: Why quashing Tom Hayes’ Libor conviction could spell a new era for the City
Tom Hayes stands within a whisker of rewriting his role in one of the biggest scandals to grip financial markets…
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Q&A: Inside EToro’s Spac plans
The Spac boom might be fading away, but trading platform EToro has high hopes that going public through a blank-cheque…
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Morgan Stanley hikes junior banker salaries to $100,000
Morgan Stanley has raised base salaries for entry-level bankers to $100,000, leaving Goldman Sachs as the last remaining Wall Street bank…
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Schroders appoints Dame Elizabeth Corley as new chair
Schroders has appointed Dame Elizabeth Corley to succeed Michael Dobson as chair of the £700bn asset manager. The firm announced that…
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Ex-Lanistar staff allege bullying, sexism, and a ‘loser’s table’ for missing targets
Staff at celebrity-promoted fintech startup Lanistar were routinely sexually harassed and bullied over the past year, according to the accounts…
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Hire ‘poor, hungry kids’ instead of ‘entitled’ grads to solve banker talent crisis, Xavier Rolet says
Investment banks should hire “poor, hungry” graduates if they want to stave off a crisis among junior bankers, which are rebelling…
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Can Robinhood thread the needle for a winning IPO?
Initial public offerings can be a little bit like politics: a decent outcome may be when everyone is only a…
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Abrdn boss on why flexible working is here to stay: ‘We’ve proved remote work on a large scale can be effective’
The City is slowly stirring back to life, with the lifting of Covid restrictions in England on 19 July prompting…
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FCA looks to force companies to explain board-level diversity
The City watchdog has launched a consultation on changes to its listing rules which would require companies to publish “comply…
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Deutsche Bank doubles M&A fees as it sidesteps fixed income trading slump
Deutsche Bank dodged the second quarter fixed income trading slump, with revenues shrinking by 11% as fees from mergers and…
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Credit Suisse set to issue report on Archegos errors
Credit Suisse is likely to publish an investigation as soon as Thursday into the breakdown that led to massive losses from…
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Barclays names new capital markets leaders in latest shake-up
Barclays promoted a swathe of senior capital markets bankers as the UK lender continues to reshape the top of its…
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Credit Suisse hires Goldman Sachs executive Wildermuth as new chief risk officer
Credit Suisse has tapped a Goldman Sachs executive as its next chief risk officer as the Swiss bank continues to…
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The collapse of Archegos shows how important it is to understand data
Extreme liquidity, combined with high levels of market volatility and high-tech valuations, can make a lethal cocktail. The collapse of…
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FCA puts size limit on UK Spacs as investors are in line for greater protections
Investors must be allowed to exit a special purpose acquisition company early if it wants to benefit from a smoother regulatory…
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Revealed: The best-performing ESG funds you’ve never heard of
Asset managers are scrambling to launch funds to tap into growing investor demand for sustainable investments. At the same time,…
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Bankers now face compliance crackdown over Covid rule breaches
Compliance rules have always been a headache for City workers. During the pandemic, they are becoming a nightmare. Texts about…
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These banks now pay 20-somethings starting salaries of $100,000 or more
The world’s largest investment banks have hiked junior banker pay to six figures over the course of the past month…
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Tether executives facing federal criminal probe; reports
Executives at Tether International, the company that issues the digital currency tether , are facing a federal criminal probe into…
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JPMorgan names UBS’s Novak as head of shareholder engagement in Europe
JPMorgan has hired a senior dealmaker to lead its activism defence team in Europe, poaching from UBS for the role.…
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Starling Bank makes first acquisition with £50m deal for mortgage lender
Starling Bank agreed to acquire a buy-to-let specialist mortgage lender in a £50m deal, marking the fintech firm’s first acquisition…
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$30bn merger between Aon and Willis Towers Watson axed
Aon and Willis Towers Watson said they have agreed to terminate their roughly $30bn deal and end litigation with the Justice Department, which alleged…
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The restructuring hiring rush is on, despite a flat market
An injection of private equity cash into the restructuring market via new spin-offs from Deloitte and KPMG has stoked frantic hiring…
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SFO’s boss in spotlight as fraud hunters ask: ‘When are they going to do something?’
Some in the City are wondering how sharp the SFO’s teeth are anymore as the UK agency tasked with investigating…
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Credit Suisse settles spying case with former executive Iqbal Khan
Credit Suisse has reached a settlement with former international wealth management head Iqbal Khan and private investigators over a spying…
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Meet the latest IPO fad: Grills
The searing market for newly public companies has a new obsession: grills. Two leading sellers of outdoor grills and grilling…
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FCA staff receiving stress-related counselling triples in ‘challenging’ pandemic year
The numbers of Financial Conduct Authority staff receiving counselling for “work or external stress” tripled during the first year of a…
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Slaughter and May boosts first-year lawyer salaries to £100,000
Magic Circle law firm Slaughter and May has bumped salaries for its first year lawyers to £100,000. Salaries for newly…
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Can Spacs conquer the world of wealth management?
While the boom in special purpose acquisition companies may well be tailing off slightly, market watchers are still waiting for…
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Stanhope Capital taps Goldman’s Shelley for CFO role
Stanhope Capital Group, the London-based wealth manager and advisory firm, has named Goldman Sachs’ Chris Shelley as its chief financial…
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Barclays hires SocGen veteran Meyer as European dealmaker hiring spree continues
Barclays has hired a 23-year veteran from Societe Generale for a senior investment banking job in Europe as the UK…
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Goldman loses European dealmaker as boutiques circle prestige banks
Goldman Sachs executive director Benjamin Rouach is set to join boutique advisory firm Fenchurch, Financial News has learned. Rouach will start…
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The FCA planned to double its Scottish workforce by now. Here’s why it missed its target
Headcount in the Financial Conduct Authority’s Scottish office jumped by only 18% in the two years after the watchdog’s 2019…
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View: Is Brussels taking dirty money seriously?
Preventing and combating money laundering and terrorist financing has been on the EU’s agenda for more than 30 years. The…
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Barclays hires Hengster to lead German unit as shake-up continues
Barclays has hired a dealmaker as chief executive for its German operation as the UK lender continues to shake up…
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JPMorgan re-hires Bennetts lead directory advisory services group in Europe
JPMorgan re-hired a senior banker to lead its director advisory services unit in Europe, a division that helps source directors…
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Martin Gilbert-backed AssetCo takes stake in thematic ETF firm
The deals company set up by former Standard Life Aberdeen co-chief executive Martin Gilbert has acquired a 63% stake in…
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Starling Bank trims losses as Covid schemes supercharge lending
Starling Bank has trimmed its losses as the business shifted to recognise lending as its main source of income thanks…
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