Close Brothers to increase hiring and acquisitions after hit to market-facing businesses November 16, 2023 Close Brothers has said "unfavourable market conditions" will hit its asset management and market-making divisions in the first quarter of the 2024 financial year, with the merchant banking group planning to hire more staff and make acquisitions to drive growth.
Investec’s UK business sees 41 per cent surge in profit, announces record dividend November 16, 2023 Investec announced in April that its wealth and management division would combine with Rathbones in a £839m tie-up.
Sexism in the City: London investment and insurance firms still struggling with gender pay gap, MPs told November 15, 2023 The financial sector continues to struggle with a gender pay gap and lack of female representation at senior levels, trade body representatives have told MPs
Regulators call out big banks for ‘suddenly closing or suspending’ charity accounts November 15, 2023 Charities are being unfairly "debanked", according to regulators, who have called on high street lenders to improve their "substandard" services for the sector.
UBS boss says bank is in ‘second phase’ of Credit Suisse merger that will ‘not change anything’ November 15, 2023 Ermotti is set to announce a strategy for the merged banks in February but is battling high costs as he winds down Credit Suisse’s unprofitable businesses while fully integrating its key Swiss banking unit.
Should firms be worried about Nigel Farage’s hope for a ‘debanking’ class action? November 15, 2023 Complaints about bank account closures have surged this year, according to the latest figures from the Financial Ombudsman.
Star investor Terry Smith’s payday falls to seven-year low of £31m as fund assets fall November 14, 2023 Billionaire Terry Smith has taken home his smallest pay package in seven years after his Fundsmith investment management firm saw a dip in profit and clients pulled out money.
Deutsche Bank appoints company veteran to head UK and Ireland following Numis deal November 14, 2023 Deutsche Bank has chosen long-serving Vathany Vijayaratna to become chief executive of its UK and Ireland division effective immediately, subject to regulatory approval.
Wise sees 280 per cent boost in profit from high interest rates November 14, 2023 Wise has reported a 280 per cent increase in profit as high interest rates continue to boost the foreign exchange fintech's income.
Insolvencies jump 18 per cent in October as high rates squeeze firms November 14, 2023 The number of firms going bust in England and Wales has jumped yet again as the higher-for-longer interest rate environment continues to put pressure on businesses and consumers.
