Ex-Barclays chief Staley to receive £22m bonus windfall November 3, 2021 Former Barclays chief Jes Staley who quit this week to fight the findings of a report into his relationship with convicted sex offender Jeffrey Epstein is in line receive bonuses of up to £22m. The American banker could receive around 11m shares in the bank he headed for six years if it hits performance goals [...]
Quilter announces £1bn net inflows as wealth management ahead of reorganisation November 3, 2021 Quilter, a British wealth management company, has today announced robust third quarter results with net inflows of £1bn, ten times that of the same period last year. Following the quarterly results for the three months ended 30 September 2021, Quilter’s year-to-date net inflows stand at £3bn, almost triple that of £1.1bn in 2020. Quilter’s assets under [...]
TP ICAP reports energy trades revenue boost amid energy price volatility November 2, 2021 TP ICAP, the world’s largest interdealer broker, has reported a 16 per cent rise in revenue in energy and commodities in the third quarter, as volatile energy prices have increasing trading opportunities. Global broking revenue at TP ICAP also increased by 2 per cent over the latest quarter, but both areas saw a decline in [...]
Standard Chartered pre-tax profits rise 44 per cent November 2, 2021 Standard Chartered pre-tax profits have risen 44 per cent, according to the latest quarterly results announced today. Profit before tax at the British bank rose to $1.08bn, surpassing previous expectations but the bank warned investors to expect an “uneven” economic recovery and its outlook for earnings growth for 2021 remained flat. Chief executive at Standard [...]
Questions for Barclays board remain even after CEO departure November 1, 2021 The board is disappointed at this outcome,” said Barclays statement to markets yesterday morning. As understatements go, it’s up there with Spike Milligan’s “I told you I was ill” epitaph. That Jes Staley has left the firm is not, necessarily, a surprise. It has been rumoured that he was ready to give up the gig [...]
Ex-Barclays banker banned for life after Euribor rigging November 1, 2021 A former Barclays banker, convicted for rigging a benchmark rate, has been handed a lifetime-ban by the Financial Conduct Authority (FCA) from working in the finance sector again. In 2019 Colin Bermingham was found guilty of manipulating the Euribor benchmark by a majority verdict of a jury, and sentenced to five years in prison. In a [...]
Starling Bank chief swats away suitors in fresh book chapter November 1, 2021 The chief of digital bank Starling Bank has swatted away speculation that the lender is up for sale in a new chapter of her book. Anne Boden, founder and chief executive of the fintech, said in an updated version of her book Banking On It: “Starling is not for sale and I very much want [...]
Jes Staley leaves Barclays: CEO exits bank after shock report on Epstein links November 1, 2021 Embattled Barclays chief Jes Staley has left his post over his ties with with late convicted sex offender Jeffrey Epstein. Staley will leave his role as chief executive of the bank with immediate effect after a probe into his links with Epstein suggested he mischaracterised the relationship to his employer and UK regulators. The bank’s [...]
Scandal-beset Credit Suisse to present early strategy update November 1, 2021 Credit Suisse will provide an update, earlier than expected, on the group’s strategy review this Thursday, following a series of high-profile scandals which has left the Swiss lender reeling. The review into the banking giant’s culture and risk management, promised by chairman Antonio Horta-Osorio, will follow the bank’s third-quarter results at an investor event in London. [...]
NatWest books £300m in legal fees to deal with money laundering fallout October 29, 2021 NatWest has set aside nearly £300m in legal fees to deal with the fallout of admitting it allowed money laundering to take place in the bank. The bank announced in its third quarter results that it booked a £294m litigation and conduct charge during the period. NatWest recently became the first British bank to admit [...]
