FCA: Motor finance redress scheme must keep market afloat June 5, 2025 The Financial Conduct Authority has pledged any redress scheme it may implement on the motor finance industry must keep the market afloat. The watchdog said ensuring the integrity of the motor finance market, so it works well for future consumers, would be crucial framework for a redress scheme. The Supreme Court is expected to give [...]
Monzo: The rockstar fintech setting the City abuzz June 3, 2025 Monzo has dominated City chatter in recent months with its hotly anticipated IPO, and now the fintech unicorn’s latest financial results indicate the talk is only going to get louder. The UK fintech veteran broke another milestone in the last 12 months after topping £1bn in annual revenue. Behind the surge in takings was a [...]
HSBC accelerates private credit pivot with $4bn injection June 2, 2025 Europe’s biggest lender has continued its pivot into private credit funds with a $4bn investment into its asset management arm. HSBC has used its asset management business to spearhead a transition into the booming $1.6tn private credit market. The firm said it will invest the new cash into its alternative credit funds, with the goal [...]
Nationwide posts bumper year after stamp duty rush May 29, 2025 Nationwide Building Society bolstered its takings in the 12 months to March 31 2025, after a rush to beat the stamp duty deadline led to a surge in first-time buyers. The firm said it served more first-time buyers than any other lender in the UK, with 120,000 purchasing their first home. This was a significant leap from [...]
Close Brothers slapped with a downgrade after rocky third-quarter May 26, 2025 Close Brothers was handed a downgrade by Peel Hunt analysts on Friday after its third-quarter update did little to calm investor nerves. The bank said fees and expenses were still at an “elevated level” in the recent quarter as net expenses jumped to £13.9m. This was up from £11.6m in the same period last year. [...]
Mark Kleinman: Bonfire of the regulators just beginning February 13, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly CityAM column. This week, he tackles churn at the regulators, bankers’ bonuses and dilemmas at Deliveroo. Bonfire of the regulators is just beginning For Marcus Bokkerink, read Abby Thomas? The chief executive of the Financial Ombudsman Service last [...]
New HSBC boss continues leadership reshuffle with more executives to depart December 5, 2024 HSBC has announced the departure of several senior executives in the latest leadership reshuffle overseen by its new chief executive. Georges Elhedery, who succeeded Noel Quinn in September, said the changes will help Europe’s biggest bank “better focus on the businesses where we have clear competitive advantage”. They are part of a sweeping restructuring of [...]
How the Light Gets In founder: Bankers! Of course they need philosophy May 9, 2024 Philosopher Hilary Lawson on why you should spend your May bank holiday at Britain's first festival of ‘ideas’