UK banks bolster debt collection teams ahead of first Covid loan repayments July 6, 2021 The UK’s leading banks are bolstering their debt collection teams as the first repayments of emergency Covid loans fall due. Britain’s four largest banks have hired over 750 workers in their debt collection units in an effort to manage a wave of potential defaults. NatWest has taken on 150 extra staff to handle chasing Covid [...]
Covid-19, one year later: Capital markets entering uncharted waters July 6, 2021 | City Talk CFA Institute conducted a survey of its global membership to analyse the effects of the current economic crisis caused by the Covid-19 epidemic on financial markets and the investment industry. The survey was run worldwide from 8 to 28 March 2021. Now we are releasing the survey report: COVID-19, ONE YEAR LATER. This research constitutes the second iteration [...]
Private equity firm Bridgepoint confirms plans to float on London Stock Exchange July 6, 2021 Private equity firm Bridgepoint have confirmed plans to raise £300m through an impending float. The firm dangled the prospect of an IPO last month but have confirmed the move in an announcement to markets this morning. The buyout group, which has around £27.4bn of assets under management across equity and debt funds, says it seeks [...]
Bank of England to cut staff air travel amid green push July 5, 2021 The Bank of England is considering permanently cutting staff air travel as part of efforts to ramp up its climate change targets and “practise what we preach”. Sarah Breeden, the Bank’s executive director for financial stability and risk and lead on climate change issues, said the Bank was having an “active debate” over how to [...]
Bank of America staff in UK to head back to work – if they’re jabbed July 5, 2021 Bank of America have become the latest financial institution to push staff back to the office in the UK, with employees told they can return to their desk when restrictions here are lifted. There is a catch, however: staff must have had one Covid-19 jab. Read more: Work from home guidance to be dropped in [...]
Transforming private equity with data analytics July 5, 2021 | City Talk Krekar Kawani CA, Founder of Touchstone Advisory, examines how private equity firms are leveraging game changing advancements in data analytics to their advantage. Data has been an integral part of human culture since the beginning of time. Humans going back as far as 40,000 years have been recorded using sequential markings by etching notches on [...]
One-in-four UK financial services workers want to work from home full-time, says new survey July 5, 2021 Almost one-in-four of the UK’s financial services workforce wants to work at home permanently post-pandemic, according to a new survey from Accenture. The survey found 24 per cent of the country’s 1m financial services workers “would prefer to work entirely from home once a full return to office is possible”, while 69 per cent said [...]
Citigroup boosts base pay for junior bankers July 3, 2021 Junior investment bankers at American bank Citigroup are set to receive a pay boost, the firm announced on Friday. In a memo distributed to staff yesterday, the bank said analysts, associates and programme vice-presidents working in the Wall Street firm’s banking, capital markets and advisory arm would receive the pay fillip from 1 July. The [...]
Credit Suisse to pay out further $750m to Greensill fund investors July 2, 2021 Credit Suisse will pay out a further $750m (£545.9m) to backers of its Greensill-linked supply chain finance funds, its asset management arm announced today. Thus far, the lender has clawed back $6.1bn of the $10bn of its funding supported by collapsed supply chain finance firm Greensill Capital, up $200m on its previous update. The new [...]
UK Bribery Act 10 years on: Have City firms improved their anti-corruption conduct? July 1, 2021 Today it is ten years ago that the UK Bribery Act 2010 came into force, on 1 July 2011. What has changed? The law presented itself as a radical and comprehensive overhaul of UK anti-bribery and corruption law, while its introduction was spearheaded by the Ministry of Justice and Serious Fraud Office (SFO), looking to [...]
