Barclays: Bank to cut 450 jobs as union brands move ‘unnecessary and unjustified’ September 12, 2023 British bank Barclays has told staff it is planning to cut around 450 jobs across the business, trade union Unite has said. Mid- to senior-level staff at the business’s head office are likely to be affected, the PA news agency understands. Unite, which represents staff members at the bank, said it was an “unnecessary and [...]
Metro Bank share price falls after plans to reduce capital charge rebuffed by watchdog September 12, 2023 Metro Bank shares plummeted after the lender announced that plans to reform its calculation of capital requirements have been rebuffed by the banking watchdog.
Newly merged Cavendish launches in London as bank bosses face ‘really tough’ conditions September 12, 2023 Newly merged investment bank Cavendish has launched to the market today after the completion of a tie up between City firms Cenkos Securities and FinnCap, in the latest in a wave of consolidation in the mid-market banking sector. The deal brings together two of the City’s mid-market banks and brokers amid a torrid time for [...]
Tipping point? City grandees say Square Mile could be set for Big Bang 2.0 September 12, 2023 Canada is at an "inflection point," with nearly two thirds of financial services leaders warning that the City's star will wane without intervention.
Kroo kicks off £70m fundraise as it targets profitability September 11, 2023 Digital bank Kroo is looking to raise a fresh round of cash from investors as it targets a swing to profit in the coming months, the firm announced today.
Societe Generale and Brookfield team up to create €10bn fund as private debt boom continues September 11, 2023 The fund, which hopes to reach its €10bn target over the next four years, will launch with €2.5bn of seed funding at inception.
Planned rule changes for SME lending a ‘dramatic backward step’, challenger banks warn September 11, 2023 Richard Davies, chief executive of SME-focused challenger bank Allica, told City PM that the changes would be a "dramatic backward step".
New Natwest chair faces questions over work done for firm involved in 1MBD scandal September 10, 2023 Natwest's new chair Rick Haythonthwaite has attracted attention over his work for Geneva-based oil firm Petrosaudi.
Zopa raises £75m debt as fintech bank eyes public markets debut September 8, 2023 Fintech lender Zopa Bank has raised a fresh £75m round of debt financing today to boost its coffers ahead of a much-anticipated float on the public markets. The London-based bank, which has been open about its ambitions for an IPO in recent months, said today it had raised £75m of tier-two capital through a ten-year [...]
Industry bodies back London as European clearing hub as concerns raised with EU’s regulations September 7, 2023 Leading users of derivatives markets in the European Union called on the bloc on Thursday to scrap a plan that would force them to shift euro derivatives clearing from London to the EU.
