Tag Archives: financial services

Who are Vitality? Founded in 1997, the Vitality brand offers life, health and auto insurance policies, as well as investment products. Vitality is based in London with offices in Bournemouth, Croydon and Stockport. It is a subsidiary of the multinational financial services organization Discovery Limited, which operates in 30 countries …

The EU and UK have imposed additional export controls and sanctions on Russia and Belarus linked to the Russian invasion of Ukraine. Below is a summary of the main developments in recent days since our last blog post on EU and UK developments. [here]. This is a rapidly developing area …

For three and a half centuries, elite patrons, from monarchs to descendants, conducted their financial affairs behind its imposing columned facade. Britain’s oldest bank, Child & Co – based at 1 Fleet Street in central London since 1673 – is said to have even inspired Charles Dickens as a model …

[author: Javier Gutierrez] Operational resilience – the ability of financial institutions to remain efficient despite the impact of business interruptions – has shaped the plans of senior financial services executives in the UK for more than three years. The UK Prudential Regulatory Authority (PRA) regulations in this area – SS1/21 …

Thursday, February 10, 2022 11:36 a.m. The iconic Lloyd’s of London building, the beating heart of London’s centuries-old insurance market. Lloyd’s of London could leave London. A pandemic-caused hit to office traffic has left him considering a move to another location. The company said AM City she has recently considered …

Nigel Farage has told GB News viewers that forecasts of Brexit disaster have once again failed after another massive vote of confidence in the UK. It comes after a report by EY found that 90% of major global financial services said they would look to move to the UK or …

As Britain settles into the post-Brexit era, it would be wrong to judge Britain’s world-class financial sector and the strength and creativity of the economy by appearances. Covid and working from home have left the normally crowded lanes of the City of London and the crowded squares among the towers …

Rand spent 12 years in the British Army before moving to banking in 2000. He started his career at JPMorgan before joining Barclays, where he worked for 12 years. Rand left the bank at the end of 2020. He will succeed as CEO of Monument to Mintoo Bhandari, former managing …

The United Kingdom officially left the European Union on January 1, 2021 after a final trade agreement signed between the two parties. It follows several months of tense and often bitter negotiations. But, following the historic Brexit referendum in June 2016, several predictions had been made suggesting that tens of …

The fastest wage gains since the 2008 global financial crisis are creating opportunities and hurdles across the UK economy, leaving workers wondering how much they will ultimately benefit. Underlying wages, corrected for distortions caused by lockdowns and the holiday schedule, are rising 4.5%, according to Bank of England policy maker …

The US has overtaken the EU as the main destination for UK financial services exports after trade with the bloc fell last year following Brexit. Financial services exports to the EU fell 6.6% to £ 24.7 billion in 2020, according to a report by TheCityUK, the industry lobby group, across …

To print this article, simply register or connect to Mondaq.com. The consensus view on COP26 appears to be that the conference simultaneously achieved much more than expected and less than needed to save an environmental disaster. The same goes for the evolution of ESG provisions in loan agreements, with surprising …

At first glance, Brexit did not cause serious damage to the City of London. After a negotiation process where his concerns were either secondary or entirely ignored, the split did not cause a sudden exodus of institutions and jobs. Early predictions that cutting London-based banks off European markets would cost …

Bad ideas don’t die. They just hibernate. This is the lesson of the revival of the idea that regulators should have a specific objective to consider the competitiveness of the UK financial services industry internationally when setting rules. This dud was put to bed after the financial crisis when the …

In his last words, Shakespeare’s Henry IV tells his son, the future Henry V, that he must distract the barons before they threaten his reign. “Therefore, my Harry, may this be your course for dazed minds occupied with foreign quarrels.” Like the Plantagenet warlords, Tory leaders need foreign bickering lest …

Rishi Sunak will cut the bank profit tax surtax in next week’s budget by more than 60% in a bid to keep the City of London competitive globally in the wake of Brexit. Chancellor to reduce surtax from 8% to 3% from April 2023, according to people with knowledge of …

A woman who was the victim of another Facebook scam that cost her £ 130 has warned others to “be careful”. Merseyside Police have confirmed they are investigating an allegation of fraud in St Helens after two women were targeted by crooks over the weekend. The reported incidents follow a …

“It’s going to be sad because I feel the momentum has just started. [The firm] is a great place right now, and thinking about some of the dramas I’ve been through and how great the team is feeling, it’s a shame, ”said Brady AFR. “It’s because of the uncertainty of …

This article is an on-site version of our The Week Ahead newsletter. Sign up here to receive the newsletter directly to your inbox every Sunday Hello and welcome to the working week. We’re all a lot more aware of the need to take care of ourselves these days – a …

WhatsApp Facebook Twitter E-mail Messenger The Mayor of the City of London, Alderman William Russell, visited Kuwait from October 6 to 8. The Lord Mayor is an international ambassador for the UK’s financial and professional services industry. The UK is the world’s largest exporter of financial services, valued at £ …

From Bond to Banksy, the success of “Brand Britain” abroad is deeply linked to the dynamism of our creative industries and yet we are witnessing an unprecedented war for talent since the 1990s. The creative sector contributes around £ 112bn to the economy each year, or £ 306m per day, …

The launch in September follows the launch of its digital offering by Goldman Sachs in the UK in 2018. JPMorgan Chase is the second US bank in just three years to aggressively launch a new digital banking offering in the saturated UK market. Chase’s September launch follows Goldman Sachs’ UK …

LONDON, October 6 (Reuters) – British ships have transported more than 3 million enslaved Africans across the Atlantic Ocean. Lloyd’s of London has insured many of these ships, the people chained below deck sometimes classified as “perishable goods”, alongside cattle, by market insurers. Lloyd’s involvement in the transatlantic slave trade …

Big UK banks narrowed their gender pay gaps slightly last year, according to a Reuters analysis, although industry watchers say they still have a long way to go. Several insurers have backed down. UK companies with more than 250 employees have been required to publish the difference between the wages …

Two in three British financial workers from black and minority ethnic backgrounds have faced discrimination in the workplace, according to an industry survey revealing gaps in the City of London’s diversity program. The results of the restart. – a network of seasoned professionals from some of the city’s biggest companies, …

October 2, 2021 ASK BRITONS what’s really going on in the City of London and you will be greeted with a blank stare. Trading the yen and yuan, structuring derivatives, and providing global financial plumbing are all sources of money, but they hardly fit into the public imagination. The exception …

The Productive Finance Working Group is led by industry, co-chaired by the Governor of the Bank, the Managing Director of FCA and the Economic Secretary of HM Treasury. Well managed, investments in such assets have the potential to generate better returns for investors, including those saving for retirement in defined …

IInvestment bankers are rarely compared to football stars. But when West Midlands Mayor Andy Street officially welcomed Goldman Sachs to Birmingham this month, he compared his arrival to one of the big transfers of the summer. “I hope this is not inappropriate,” he said, addressing a crowd of Goldman employees …

Innovation, an open business environment and a wide range of highly skilled talent have put the City of London ahead of the financial services industry in Europe. London ranks as the second best financial center in the world, while its closest rival on the continent is Paris, which finished only …

Updates on UK business and economy Sign up for myFT Daily Digest to be the first to know about UK business and business news. City Minister John Glen has pledged that Britain’s financial services sector will benefit from “competitive tax rates” as he paves the way for a budget cut …

(Reuters) – America’s biggest banking lobby groups banded together on Friday to make another push to kill a bank account reporting bill being drafted as part of Congress’ reconciliation program. In a letter to US House Speaker Nancy Pelosi and Parliamentary Minority Leader Kevin McCarthy, lobby groups said the proposal …

(Image by Dirk Wouters from Pixabay) Zurich Insurance UK recently adopted low-code practices and integrated business and IT teams to foster a sustainable DevOps culture across the business. UK Head of DevOps Barrington Clarke explains that by using this agile approach, the insurance provider is able to respond to business …

BOC UK’s internal customer database did not include any references to Sudan in the name or address fields of two customers despite knowing their location. OFAC (Office of Foreign Assets Control of the US Treasury) announced a $ 2.3 million settlement with the British unit of the Bank of China …

J Sainsbury, Britain’s second-largest supermarket chain, is in advanced talks to sell its banking arm almost a year after the division launched an auction. Sky News has learned that the grocer is close to making a deal to sell Sainsbury’s Bank to Centerbridge Partners, a US-based private equity firm. Talks …

Extinction Rebellion activists protest in London LONDON (Reuters) – Climate change activists climbed outside the City of London seat of government on Sunday as they began two weeks of protests focused on the capital’s financial district. Around 200 protesters from the Extinction Rebellion group targeted the medieval Guildhall, home of …

According to a Home Office and Home Office report from December 2020, money laundering is a “fundamental threat to the country’s future security, resilience and prosperity”, costing the UK economy around £ 37 billion a year. An important finding of the report was the increased risk of money laundering, due …

Image credit: FintechOS London-based FintechOS is a technology provider for banks, insurers and other financial services companies. He has raised $ 10million (around € 8.5million) in his $ 60million (around € 51million) Series B round of funding. The capital was invested by IFC, a member of the World Bank Group. …

London FinTech and digital banking Revolution introduces daily interest on savings vaults for standard plan users with no fees or minimum balance requirements, the company said in a press release emailed to PYMNTS on Friday, July 23. Revolut’s head of savings and lifestyle, Marsel Nikaj, said the Savings Vault product …

By Anna Irrera (Reuters) – Square Inc, the company run by Twitter Inc CEO Jack Dorsey, is launching banking services for small businesses, as it continues to expand beyond payment processing. Square Banking will offer small businesses savings and chequing accounts, as well as its existing loan offering which has …

The UK hoped to reach an agreement on the role of the UK financial sector in Europe, which would allow mutual recognition of financial services rules between London and Brussels. But despite a “memorandum of understanding” provisionally concluded in March of this year allowing for engagement on financial sector issues, …

summary The COVID-19 pandemic has accelerated the two related trends of financial institutions moving their IT infrastructure to the cloud and selling their own data centers in order to rent only the reduced space and power they need. These transactions can be complex and there are key recurring legal characteristics. …

Almost a quarter of the UK’s financial services workforce wants to work from home permanently after the pandemic, according to a new survey from Accenture. The survey found that 24% of the nation’s 1 million financial services workers “would prefer to work entirely from home once a full return to …

Large-scale global tax reforms are paying off and at first glance Ireland has the most to lose due to the economy’s heavy reliance on US multinationals. On Thursday, 130 countries approved a framework agreement from the Organization for Economic Co-operation and Development (OECD), which brings together 38 rich countries, to …

Read more: Global Director of BAE Systems on the Five Trends Shaping the Evolution of Insurance Fraud So, in keeping with that old saying about honey and vinegar, Harris first addressed what insurance companies tend to do well in this area. “Sharing data is a key aspect,” he said, “and …

The world’s major economies have signed a plan to force multinational companies to pay a global minimum tax rate of at least 15 percent following intense negotiations in Paris at the OECD. The historic agreement between 130 countries will ensure that the biggest companies, including Big Tech, pay at least …

‘Pioneering reforms’ to support the safe adoption of crypto assets and stablecoins are also under consideration Britain is preparing to move forward in financial services on its own after failing to strike a Brexit deal with the European Union, Chancellor Rishi Sunak said today. In his first speech from Mansion …

LONDON (BLOOMBERG) – Britain’s Financial Conduct Authority has issued a warning to consumers against Binance Markets, banning one of the world’s largest cryptocurrency exchanges from undertaking any regulated activity in the country. Binance has until Wednesday evening (June 30) to confirm that it has removed all financial ads and promotions, …

The European Union should allow its banks to continue to clear derivatives in euros in London and avoid being “protectionist” in the financial markets, said Tuesday the managing director of the London Stock Exchange, David Schwimmer. Britain’s total departure from the EU has largely severed the City of London’s ties …

The UK has become the early adopter of Open Banking, with its clear functionality and broad mandate for cool features, such as bulk payments and variable recurring payments, according to new data released by the Open Bank company. Yapily. The UK has been followed by countries such as Ireland and …

A UK government task force is set to recommend sweeping regulatory reforms for the City of London and fast-growing sectors of the economy as ministers seek to free UK businesses from European bureaucracy. Prime Minister Boris Johnson created the group, led by former Conservative Party leader Iain Duncan Smith, with …

Goldman Sachs has told its staff in the United States that it must disclose its Covid-19 vaccination status before an expected return to the office next week. The investment bank, of which 6,000 UK workers were separately told they had the option to complete their status anonymously to give the …

Davies Group purchased contact center and professional services consulting firm SKWeston and Company as part of its expansion in North America. SKWeston and Company is based in Maryland, USA. The deal will see the company renamed Davies Group and will be part of the company’s existing consulting and technology business, …

The UK remains one of the world’s largest financial centers, but the Brexit effect is starting to take a hit, a new report suggests. The UK is still the largest financial center in Europe and the second in the world, according to a new financial analysis. Its overall score of …

Boris Johnson has called for a partnership between the government and the UK financial services industry in a post-Brexit and post-Covid economy, amid signs of improving relations between the two sides. Ties between the city and number 10 have been strained for years, first in the wake of the global …

Digital transformation has changed the way financial companies work, but how is it changing the customer experience (CX)? While the answer may not be straightforward, there has been a palpable shift from “one size fits all” products and a renaissance of flexible, transparent and engaging alternatives. Indeed, instead of being …

Brexit: expert qualifies financial sanctions as “politically embarrassing” And despite the catastrophic predictions of opponents, just six months after the UK freed itself from EU rules and regulations, the mood in the Square Mile is now “increasingly optimistic”, according to the draft. CityUnited. The think tank is committed to promoting …

[London] – Hagens Berman UK, the London firm of world-renowned US law firm Hagens Berman Sobol Shapiro LLP, announces the latest developments in its class action lawsuit on behalf of UK Mercedes drivers affected by emissions fraud. Hagens Berman UK has successfully secured substantial litigation funding from Harbor as well …

Cheshire banks closed at their fastest pace in a decade before the pandemic – and closings are expected to continue. The number of bank branches opened in Cheshire fell 11% in the year through March 2020, from around 140 to around 125. It was the biggest year-over-year decline since the …

FILE PHOTO: Signage is seen in the lobby of Deutsche Bank’s U.S. headquarters in New York, U.S. July 8, 2019. [Photo/Agencies] Lender pledges to serve UK clients despite sending 100 top jobs overseas Germany’s largest lender, Deutsche Bank, is shifting 100 corporate banker jobs – from the City of London …

In some ways, the capital has avoided the worst impacts of Covid, but even more job losses seem to be on the cards towards the end of the year. Employment levels in London may not return to pre-pandemic levels for two years despite a strong overall recovery in the capital’s …

India’s largest steel producer plans to buy Liberty Steel in Britain as well as factories elsewhere, two people familiar with the matter told Reuters as potential buyers surrounded Sanjeev’s global commodity empire Gupta. JSW’s interest, which extends to factories including the Adhunik steelworks in Gupta in eastern India, could mark …

TSX: GWO WINNIPEG, MB, May 21, 2021 / PRNewswire / – Great-West Lifeco Inc. (“Lifeco”) has been notified of an unsolicited mini-takeover bid by Obatan LLC made to residents of the UK, to purchase up to 50,000 common shares of Lifeco and up to 50,000 non-cumulative first preferred shares, Series …

Ebay will begin offering loans to businesses that sell through its UK marketplace, pitting the e-commerce group against mass-market banks and its former subsidiary PayPal. “We believe this is an area for innovation and that there is a lot of unmet demand for better service for online businesses,” eBay UK …

Wayne Brown, former senior advisor at EY and Kearney, has joined Alvarez & Marsal as senior manager in their Leeds office. “We are delighted to be able to add Wayne’s expertise to our team,” said Tom Johannessen, Managing Director of Alvarez & Marsal, of the arrival of Brown, who brings …

Banking Expo open launches its rewards program to celebrate the significant advancements of open banking in the global financial services industry. Equifax is the launch partner of the program. The ceremony will take place in London, UK on July 15, and the program is now open for registration. The registration …

A new solution will be announced at the BIBA 2021 conference LONDON, May 10, 2021 / PRNewswire / – In a development adapted to the theme of the BIBA 2021 conference – Build resilience – LexisNexis® Risk Solutions, the data, analytics and technology provider, launches Broker intelligence, a comprehensive data …

UK: Financial Services Act 2021 – Amendments to PDMR notifications May 10, 2021 Bryan Cave Leighton Paisner LLP To print this article, simply register or connect to Mondaq.com. summary The Financial Services Act 2021 (the “Act”) received Royal Assent and is now law. What does this mean for issuers? PDMR …

The forecast for UK corporate borrowing has been wiped out as the economy rebounds faster than expected after the Covid-19 pandemic. Banks are expected to lend £ 19bn to UK businesses this year, up 4% year on year, but down from the £ 26bn forecast in February. Read more: Public …

Comedian and talk show host Hasan Minhaj brought a laugh to members of Congress on Capitol Hill on Tuesday as he described the dire repercussions facing the 45 million people nationwide who are in student loan debt. “This problem is putting millions of Americans aside. People are pushing back marriage, …

Wasatch Consultants, an employee-owned investment manager, has released its Q3 2020 Wasatch Micro Cap Value Fund letter to investors – a copy of which can be found downloaded here. The fund returned 11.62% for the third quarter of 2020, above its benchmark Russel Microcap which returned 3.69%. You can take …

KENILWORTH, New Jersey – (COMMERCIAL THREAD) – Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced that Organon Finance 1 LLC plans to offer, subject to market conditions, Euro denominated senior covered bonds due 2028, dollar denominated secured notes due 2028 and senior unsecured …