Revealed: Natwest banked company used by MFS founder to ‘siphon off’ funds Banking Natwest provided banking services to a company allegedly used by the founder of collapsed property lender MFS to divert investors’ cash and “siphon off” funds, Morning Wire can reveal. The bank held the day-to-day account for Twinwin, a company that was allegedly used by Market Financial Solutions founder Paresh Raja to generate fees from clients’ [...]
St James’s Place suffers £1bn hit to flows as investors look to dodge pension tax Investing St James’s Place took a £1bn hit to net inflows in the first half of the year as investors pulled cash from its funds to dodge market volatility and a looming pension tax bill. Net inflows declined from £3.8bn to £2.7bn in the first half of the year, in line with analyst expectations. The group [...]
Hogan Lovells Cadwalader looks to tap transatlantic dealmaking boom following merger Legal Global law firm Hogan Lovells Cadwalader is looking to grab more of the private capital market from rivals and tap into a boom in transatlantic dealmaking following the City firm’s merger with the oldest legal practice on Wall Street. UK managing partner Penny Angell told Morning Wire the merger creates “a stronger bench” for the combined companies [...]
Exclusive: Top FTSE executive recruiter goes bust after AI platform launch July 4, 2026 A City-based boutique recruitment consultancy which has won executive-level talent for a host of FTSE firms has plunged into insolvency after pumping investment into an AI platform, Morning Wire can reveal. Savannah Group, which has recruited directors and executives for the likes of Starbucks, hospitality giant Fullers, Burger King, Aston Martin, and global cruise titan [...]
FCA lays out ‘landmark’ crypto clampdown June 30, 2026 The City watchdog has unveiled a “landmark” clampdown on the cryptocurrency market that will force companies to win approval from the regulator in order to deal with British customers. The Financial Conduct Authority (FCA) set out rules on Tuesday that will subject companies to higher levels of regulatory scrutiny from October 2027. Under current rules, [...]
House of Lords lashes out at Labour for ‘eliminating’ its oversight of financial watchdogs June 18, 2026 An influential group of peers have hit out at the government for ditching the Lords’ oversight of financial watchdogs as part of legislation passed in the King’s Speech. Writing in her capacity as chair of the Lords’ Financial Services Regulation Committee, Baroness Noakes said the government had “eliminated” an “integral” part of the regulatory system. [...]
‘Under pressure’: Gen Z fail to save as financial responsibilities mount June 15, 2026 Young Brits are failing to place any money into their savings as they continue to face increasing financial pressures. Nearly half of Gen Z, those aged between 14 and 29, have not allocated any money to their savings in the past year, according to research from Young Enterprise and HSBC UK, as they find themselves [...]
P&O Ferries to be probed over possible audit failings June 10, 2026 The Financial Reporting Council (FRC) has opened a probe into the conduct of an accountant at P&O Ferries over the accuracy of information they provided to auditors. The FRC said it has opened the investigation to assess the financial information provided to the auditor of P&O Ferries Holdings Limited and its subsidiaries between December 2020 [...]
Ministers back SNP probe as Sturgeon refuses to apologise for Murrell May 31, 2026 Two top government ministers have backed an inquiry into the SNP after its former chief executive Peter Murrell admitted to embezzling over £400,000 from the party. Shadow home secretary Chris Philp told the BBC’s Sunday With Laura Kuenssberg that there “should definitely be an inquiry because trust in politics has been fundamentally undermined by the [...]
UK finance workers weigh quitting over back-to-office mandates May 19, 2026 Financial services workers are weighing quitting their roles if their companies mandate office attendance amid a deepening feud between managers and employees. Nearly six in ten employees in the finance sector said requirements around their office presence is making them more likely to leave their role, according to new research from City recruiter Morgan McKinley. [...]