Morgan Stanley: Ted Pick wins race to replace long-time chief James Gorman at Wall Street bank October 26, 2023 Morgan Stanley’s Ted Pick won the race to succeed long-time CEO James Gorman and promised to stick to the blue chip Wall Street firm’s strategy as it navigates a deal-making slump and uncertain economic outlook. The investment bank said Gorman, who has held the top job since 2010 and steered the bank in the aftermath of the [...]
Standard Chartered share price dives as slowing Chinese economy and real estate crisis drag on performance October 26, 2023 China's growing real estate crisis ensured that Standard Chartered performed worse than expected in the third quarter.
How can we make a success of change management in our ever – changing world? October 26, 2023 Our world is being continually reshaped by shifting economic realities, rapid technological advances, evolving customer expectations and the transition to more sustainable business models. So, it is clear that if we are to drive greater creativity and innovation within our organisations, we need to be highly effective at embracing, managing, and exploiting the force of [...]
Former bookie Mark Blandford launches new lending project targeting UK SMEs October 26, 2023 Mark Blandford, founder of online gambling firm Sportingbet, has launched a new venture targeting small and medium sized businesses in the UK, Morning Wire can reveal.
Fierce mortgage competition to weigh on banks’ margins, warn brokers October 25, 2023 Mortgage profitability is a key focus for investors as lenders have significantly reduced rates in recent months.
Former Natwest boss considering legal action over payoff decision: reports October 25, 2023 Natwest is widely expected to cancel £5.2m of long-term share options that Rose had accrued during her leadership.
Aldermore ditches bid for Co-op Bank October 25, 2023 The challenger bank’s bid for Co-op was reportedly derailed by a leadership shake-up at FirstRand, its South African parent company.
Santander: Bank cuts UK mortgage lending by more than £10bn October 25, 2023 Santander's UK division saw healthy pre-tax profit in the first nine months of 2023 but has slashed UK mortgage lending amid higher interest rates.
Lloyds rides out end of interest rate spike with bumper profit October 25, 2023 Increasing competition was not enough to stop Lloyds from performing above expectations in the third quarter as the bank continued to benefit from a relatively benign credit environment. In the three months to September, pretax profit hit £1.9bn, more than triple the same period last year and slightly ahead of analyst expectations. Net interest income [...]
Deutsche Bank guides to top end of guidance despite interest rate woes October 25, 2023 Investment bank revenue slumped at German giant Deutsche Bank but profits still beat expectations