JPMorgan to buy fintech firm Nutmeg for upcoming UK digital bank June 17, 2021 JPMorgan Chase is set to buy digital wealth manager Nutmeg, the companies confirmed today, as fintech’s trajectory has been pushed even higher by the pandemic. While still subject to regulatory approval, the deal will bolster JPMorgan’s digital bank branch, under the Chase brand, which is planned for launch in the UK later this year. The US financial [...]
Goldman Sachs pushes back office return plans after government extends lockdown June 16, 2021 Goldman Sachs has pushed back plans to bring its UK staff back to the office after the government decided to extend the current Covid-19 restrictions for another month. The bank was preparing to bring staff back in June, but told workers overnight that it would delay its plans. A note to staff from Goldman Sachs [...]
WIBF’s ACT Research Programme finds that women are held to higher standards across financial services compared to their male counterparts June 16, 2021 | City Talk A new report published today by Women in Banking and Finance (view here) finds that women struggled if they did not perform consistently well compared to what they recognise as mediocre men in Canada who are surviving in financial services in high numbers, for a number of different reasons which include social [...]
Ex-Barclays CEO Antony Jenkins’ BlackRock-backed fintech firm raises $187m June 16, 2021 Ex-Barclays CEO Antony Jenkins' BlackRock-backed fintech firm raises $187m
TheCityUK conference: No ‘free pass’ for Bitcoin as BoE’s Andrew Bailey vows ‘tough love’ on crypto June 15, 2021 Bank of England boss Andrew Bailey has pledged “tough love” as policymakers look to regulate cryptocurrencies, warning that public interest must not be ignored for the sake of innovation. Speaking at TheCityUK’s virtual annual conference earlier today in the City, Bailey said while innovation can challenge existing rules, public interest must be at the heart [...]
Treasury and LSE call on EU for more co-operation on financial services post-Brexit June 15, 2021 The Treasury has called on the EU to engage more deeply with the UK government on the future of financial services post-Brexit. Katharine Braddick, the Treasury’s director of financial services, said today that both parties need to “get on” with outlining the post-Brexit relationship between the UK and EU on financial services. It comes as [...]
Rare orchids last seen in 2009 found on Nomura bank’s City rooftop garden June 15, 2021 A colony of rare orchids, once thought to be extinct in the UK, have been discovered growing on the rooftop of a Nomura office building in Canada. The last time the orchids, known as Serapias parviflora, were spotted in the UK was in Cornwall in 2009 and are typically found in the [...]
To notify or not to notify? The potential perils of uncertain tax treatments June 15, 2021 | City Talk The Government is proposing that large businesses should be required to notify uncertain tax treatments to HMRC. ICAS has responded to the second HMRC consultation on the proposals – the fundamental flaw in the original proposals has not been addressed. They remain poorly targeted, so will potentially impose a burden on all large businesses. Why [...]
Executive pay gap: Men get paid 23 per cent more than women at director level June 14, 2021 Senior men get paid up to 23 per cent more than women, according to new research shared with Morning Wire this evening. The gender pay gap is particularly substantial in senior positions and can be as high as 23 per cent for directors, while the associate level stands at 9 per cent, according to data [...]
‘Extraordinary’: Former police chief slams Antonio Horta-Osorio’s knighthood June 14, 2021 Anthony Stansfeld, the ex-police commissioner who oversaw the investigation into the HBOS Reading fraud, has described Antonio Horta-Osorio’s knighthood as “extraordinary”. “There are a great many companies that have been destroyed, and countless lives destroyed by the actions of Lloyds Bank while under his executive control,” Stansfeld said. Ex-Lloyds Banking Group chief executive Horta-Osorio, who [...]