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- Finance
Trading Places: HSBC bolsters green team, Citi’s European push continues, Nutmeg boss leaves
HSBC promoted one of its top investment bankers to lead a new team of dealmakers tackling sustainable finance — a key…
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FCA strikes cancelled as Unite says union recognition back on the table
Financial Conduct Authority staff have called off planned strike action, as Unite claims that union recognition is back “on the table”.…
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Klarna valuation to be chopped to $6.5bn in fresh fundraise
Klarna is nearing a deal to raise new money at a valuation of around $6.5bn, according to people familiar with…
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Money laundering watchdog pushes for crypto information-sharing rules
Most countries lack “travel rule” laws that could help prevent the illicit use of cryptocurrency by criminals and terrorists, a…
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EU crypto rules to force tether, USD coin to hold more reserves in ‘Wild West’ market
A landmark agreement for Europe to regulate cryptocurrency markets across the continent is set to bring stablecoins such as tether and…
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Hedge fund adviser Patrick Ghali on crypto, ESG and why clients are dumping ‘any exposure to China’
Patrick Ghali, co-founder of hedge fund advisory Sussex Partners, talks with Financial News about how his clients are adapting to…
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Johnson ‘impatient’ at pace of post-Brexit Solvency II rules: report
The Bank of England and Boris Johnson are on a collision course over the future of Solvency II reforms, according…
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Leon Black rebuffed in Apollo conspiracy claim
A federal judge dismissed a case brought by former Apollo Global Management chief executive Leon Black alleging that his former partner and…
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UBS in $25m SEC settlement over complex options products
UBS agreed to pay $25m to settle fraud charges from the Securities and Exchange Commission over a complex options-trading strategy…
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Jupiter’s CEO choice draws criticism from former board member
Jupiter’s decision to appoint Matthew Beesley as its next chief executive is unlikely to “fix” the problem of its plummeting…
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Missing ‘CryptoQueen’ added to FBI’s Most Wanted list
Ruja Ignatova, the self-styled “CryptoQueen” and founder of the OneCoin crypto project, has been added to the FBI’s 10 Most…
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Nutmeg CEO steps down after JPMorgan takeover: ‘I am now taking some time out’
The boss of the UK’s largest digital wealth manager Nutmeg has stepped down following the firm’s buyout by JPMorgan. A…
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Revolut appoints new US chief to lead expansion
Revolut has appointed a new chief executive in the US as it looks to expand its operations across the Atlantic.…
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Research Affiliates CEO calls crypto a ‘Ponzi scheme,’ questions ‘substance’ of blockchain
The chief executive of California-based asset manager Research Affiliates has called cryptocurrencies a “Ponzi scheme”, claiming bitcoin and the blockchain…
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Regulators in New York eye further crypto guidance
The head of the New York State Department of Financial Services said she wants the regulator to continue to be…
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MPs call for tougher action on bankers, lawyers ‘enabling’ Putin
MPs have called for a tougher crackdown on City firms that support Russia’s regime amid continuing aggression against Ukraine. London’s…
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Credit Suisse bolsters compliance, plans cost cuts from technology for turnaround
Credit Suisse has hired 22 senior compliance professionals this year and bolstered headcount in the division as it looks to…
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FCA probes Wise boss Kristo Kärmann after tax default
The Financial Conduct Authority has launched an investigation into Wise co-founder and CEOn Kristo Kärmann over his deliberate default on tax bills,…
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Three Arrows Capital falls into liquidation as crypto winter bites
Cryptocurrency-focused hedge fund Three Arrows Capital has gone bust, becoming one of the most prominent victims yet of the so-called…
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Celsius’ crypto faithful have a plan to avoid bankruptcy
An internal storm is brewing at crypto lender Celsius over its potential plans to file for bankruptcy, with some involved in…
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State Street, Ninety One CEOs: Defunding polluters is not the path to net zero
Ron O’Hanley is chief executive of State Street and Hendrik du Toit is chief executive of NinetyOne Today, more investors and…
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The Fintech Files: Will Celsius customers hit HODL?
Customers of the beleaguered crypto lender Celsius have had withdrawals frozen for more than two weeks – now, some involved in…
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How threat of recession could push workers back — or end office life as we know it
The threat of recession amid a shrinking economy may force a return to the office for employees. Or the end…
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‘Just buy somebody’: Private markets push will fail without deals, says LCM boss
The chief executive of Brookfield-backed alternatives firm LCM Partners says asset managers pushing into private markets will fail without making acquisitions,…
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Investment bank fees fall by $24bn as deal boom loses steam
Dealmaking fees at top investment banks slumped by as much as 56% during the first half of 2022, as recessionary fears and…
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JPMorgan leaves the LME nickel crisis behind
US investment bank JPMorgan no longer has exposure to nickel. A drop in the price of the metal at the…
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Plunging bitcoin hits crypto miners
The plummeting price of bitcoin could force crypto miners to sell the tokens to fund operations, further pressuring the digital…
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Apollo’s bid for Boots fails as Walgreens abandons £5bn sale
The blockbuster sale of UK chemist Boots has reportedly been abandoned amid uncertainty in the debt markets. Walgreens Boots Alliance,…
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FTX boss Sam Bankman-Fried dismisses reports of Robinhood acquisition
Sam Bankman-Fried, chief executive at crypto exchange FTX, said the company is not having any active mergers and acquisitions conversations…
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EY to pay $100m settlement fine over audit employees cheating CPA exams
WASHINGTON — Ernst & Young agreed to pay a record $100m fine and to admit that some of its auditors…
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Goldman Sachs, Wells Fargo up shareholder dividends after Fed gives green light
The largest US banks said they would increase payouts to shareholders after the Federal Reserve said the banks are able…
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Corporate governance and audit reform – watered down or pragmatic?
Jim Oulton and Tim Shepherd are partners in the litigation and dispute resolution department of Mayer Brown International where they…
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Jupiter CEO Andrew Formica to step down
Jupiter Fund Management has announced that Andrew Formica will step down as chief executive of the FTSE 250-listed asset manager…
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Crypto lobbyist donated £500k to Conservatives before UK’s ‘crypto hub’ move
The Conservative Party received a £500,000 donation from a British crypto investor two months before the government pledged to make…
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Treasury response to regulatory proposals for the buy now pay sector — here’s what you need to know
Simon Lovegrove, global director of financial services knowledge, innovation and product; Matthew Gregory is counsel at Norton Rose Fulbright LLP The…
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Credit Suisse fined $2m over money laundering linked to cocaine trafficking
Credit Suisse and a former employee were found guilty 27 June in a Swiss federal criminal court of helping a Bulgarian crime…
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Three Arrows hedge fund has defaulted on $675m crypto loan, broker Voyager Digital says
Crypto broker Voyager Digital said that hedge fund Three Arrows Capital had defaulted, failing to make loan payments tied to large bets in…
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HSBC names top dealmaker Alexi Chan to lead new sustainable finance team
HSBC has promoted one of its top investment bankers to lead a new team of dealmakers tackling sustainable finance —…
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Why hedge funds are shorting tether
Short sellers have been ramping up their bets against tether, the world’s largest stablecoin, amid a broad market selloff that…
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Citigroup hires Deutsche Bank veteran Patrick Frowein in senior dealmaking role
Citigroup has hired Deutsche Bank’s former head of investment banking coverage in Europe into a key role, as the US…
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Black bankers in senior ranks at Goldman, JPMorgan show ‘snail’s pace’ of diversity drives
Wall Street banks are making slow and patchy progress on improving diversity, latest figures show. Banks are providing new clarity on…
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SocGen accuses Clifford Chance of negligence in £384m gold bullion dispute
Societe Generale has accused Clifford Chance of negligence over its work for the bank in a dispute over £384m-worth of…
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Nomura hikes junior pay for a second time, matching Wall Street rivals
Japanese bank Nomura has hiked junior banker salaries for a second time within a year, matching Wall Street rivals amid…
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Big Four breakup plans pushes partner pay into the spotlight
As EY continues to discuss a landmark separation of its audit and consulting businesses, the issue of pay has shot…
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How Robinhood fought for survival when meme stocks exploded
Robinhood struggled to handle huge volumes of stock trading and sparred with its principal customer, market maker Citadel Securities, during the…
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Martin Gilbert: The City must cherish its older workers
Martin Gilbert, the co-founder and former CEO of Aberdeen Asset Management, is chair of AssetCo and Revolut Paul McCartney headlining…
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Hackers steal $100m in cryptocurrency
Hackers have stolen roughly $100m in cryptocurrency from a blockchain bridge, technology company Harmony said 23 June. Harmony, which hosts the Horizon…
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Revolut enters buy-now-pay-later fray with offering to rival Klarna
Revolut has gone toe-to-toe with Klarna and other lending giants as it rolls out its first buy-now-pay-later product across Europe.…
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Trading Places: Perella poaches Klaassen, Barclays backs Vohra, TP ICAP takes Fields
This week was a big one for ESG leaders, as Financial News unveiled our inaugural list of the Fifty Most…
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EY breakup faces tough questions on partner pay and bear market
EY’s leaders, trying to persuade partners to split up the firm, said windfalls would be spread evenly, but a bear market…
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