Revolut founder’s wealth set to balloon amid talks of share award at $500bn valuation Fintech The billionaire founder of Revolut is set to see his wealth balloon following reports of a pay package that would land him a major stock windfall if the fintech reaches a $500bn valuation. The digital bank, which is currently undergoing a secondary share sale seeking to value the firm at $115bn, is in discussions to [...]
HSBC kicks off $1bn share buyback after profit smashes forecast Banking HSBC has resumed its share buyback programme after profit soared past expectations in the second quarter of 2026. The FTSE 100 bank – whose market cap of £274bn makes it the London Stock Exchange’s most valuable company – posted $10.1bn (£7.5bn) in pre-tax profit for the last three months, surging past an internal forecast of [...]
Banks woo the wealthy to ace stable income streams Banking As the great and the good prepare to gather at Wimbledon, banks are serving up glamorous treatment to woo the wealthy. In this week’s column Samuel Norman looks at the players looking to call game, set, match. If you want the Centre Court treatment from your bank, you’re going to need to arrive with a [...]
Barclays pays £180m for loss-making UK fintech Gohenry June 12, 2026 Barclays has snapped up the UK arm of money management app Gohenry in a bid to “turbocharge” its ambitions for youth banking and the mass affluent market. The blue-chip lender revealed on Friday it had bought the fintech firm from its parent company, Acorns, for an undisclosed sum in a deal that is expected to [...]
Moneybox profit slides as wealth manager bets on ‘high levels of automation’ May 27, 2026 Moneybox saw its profit slide by nearly a quarter in the last year as the wealth manager invested “heavily” in new technology and bet on “high levels of automation”. The London-based fintech notched its third consecutive year of profitability but faced a 23 per cent drop in its pre-tax takings at £14.9m by the end [...]
The Square Mile gets its fourth City Minister – could it soon get its fifth? May 20, 2026 Four City minsters later, in this week’s column Samuel Norman takes a look at the blow to the Square Mile from the latest reshuffle. Also on the agenda: Revolut’s plans for the high net worth faces off with ambitions of incumbents. “Look for the girl with the sun in her eyes…” So goes the lyrics [...]
Revolut bags watchdog approval to beef up UK wealth offering May 14, 2026 Revolut has received the regulatory green light to bulk up its wealth management offering, marking one of its first major expansions in the UK after bagging its banking licence. The $75bn juggernaut’s trading arm has secured a Variation of Permissions from the City watchdog, which allows the firm to broadened the scope of regulated activities [...]
How HSBC and Standard Chartered are riding high on Asia’s wealth February 26, 2026 London’s banking giants are circling the UK’s wealth management pie. But two other top lenders could be carving out a feast 6,000 miles away. HSBC and Standard Chartered posted hefty bumps to their wealth divisions, driven by a strategic focus on Asia and the Middle East. In financial results shared on Wednesday, HSBC revealed bank-wide [...]
Autumn Budget: Wealth tax would drive £100bn out of UK economy October 16, 2025 Rachel Reeves is facing renewed calls to rule out any form of wealth tax in the Autumn Budget with concerns such a move would drive £100bn out of the UK economy. The Chancellor confirmed on Wednesday higher taxes on the nation’s wealthiest would be a “part of the story” in the Budget. But fresh research [...]
Average Brit would need lifetime of earnings to become wealthy October 8, 2025 The average British worker would need to save more than a lifetime’s worth of earnings to become wealthy, fresh analysis has revealed. The ever-widening wealth gap means it would take £1.3m – around 52 years’ worth of average earnings – to jump from the middle to the top of wealth distribution. This is over a [...]