London drives increase in number of new UK startups January 14, 2019 London entrepreneurs defied political and economic gloom last year with a jump in the number of registered startups. More than 216,000 new businesses were registered in the greater London area last year, a 6.45 per cent increase on 2017. Across the UK as a whole, the number of new companies registered last year rose by [...]
London venture capital firm Beringea heads up north with £9m fintech injection January 13, 2019 London-based venture capital firm Beringea has expanded its UK presence with an office based in Manchester, the firm will announce today. It has also led a £9m fundraising round in Mancunian fintech firm Accesspay, which it said was one of the region’s largest fintech rounds to date. Based in the northern city centre's St Peter's [...]
Rathbones Brothers inflows up after Speirs & Jeffrey acquisition January 10, 2019 Funds under management at Rathbone Brothers investment management were up 13.9 per cent per cent last year after being boosted by the acquisition of wealth manager Speirs & Jeffrey. Funds hit £38.5bn at the end of December last year, up from £33.8bn the previous year, including £6.4bn of funds related to the acquisition. However, in the [...]
Revolut rival digital bank N26 lands $300m funding round, becoming Europe’s most valuable fintech startup January 10, 2019 Digital banking startup N26 has closed the biggest funding round in European fintech in recent years, valuing the Monzo and Revolut challenger at $2.7bn (£2.1bn). The Berlin-based fintech, which offers a current account and debit card through its mobile banking app, has raised $300m in a series D round led by US venture capital firm Insight Venture Partners. [...]
EU banking watchdog calls for fresh cryptoassets regulation January 10, 2019 New rules may be needed to stop existing regulation on cryptocurrencies and digital assets from getting too diverse across the European Union, the bloc's banking watchdog said yesterday. Cryptoassets such as bitcoin, ether and tokens created in initial coin offerings (ICOs) typically fall outside of the scope of EU financial legislation, which makes it hard to [...]
Outflows from UK funds hit highest level since the EU referendum January 10, 2019 Outflows from UK funds in November hit the highest level since the EU referendum. Net retail sales were negative, with outflows totalling £2.1bn – the most since the 2016 Brexit vote – as investor caution increased due to international trade tensions, Brexit and market volatility, according to the latest figures from the Investment Association. Fixed income [...]
Behavioural science at work: The logic of being illogical January 10, 2019 In real life, imagine if everyone we met was like Jordan Belfort from The Wolf of Wall Street. Unlike for TV, it wouldn’t make for very interesting watching. Why? Because in the real world, we are all united by our differences, as well as our similarities. In an age of personalisation, understanding how individuals react [...]
City Moves for Thursday 10 January: Who’s switching jobs at Newton Investment Management, Kirkland & Ellis and KPMG? January 10, 2019 Newton Investment Management Newton Investment Management (Newton IM), part of BNY Mellon Investment Management (BNY Mellon IM), announced the appointment of Jin Philips as head of strategic relationships EMEA. In this role, Jin will be responsible for directing Newton IM’s sales strategy across UK institutional and charity channels and EMEA-partnered distribution relationships. Jin will report [...]
