best financial news
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JPMorgan nears $200m settlement over failure to monitor traders’ chats
JPMorgan is nearing a deal to pay a $200m fine and admit that it failed to properly monitor employees’ messages,…
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Hector Sants: The FCA must simplify, not confuse, with its new consumer duty
Sir Hector Sants was chief executive of the Financial Services Authority and head of compliance at Barclays. He is currently chair…
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Moelis & Co hires dealmaker James Nichols to bolster London team
Independent investment bank Moelis & Co has bolstered its London operation with a managing director covering the business services sector.…
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BlackRock tells US boards to target 30% diversity
BlackRock has set out new expectations for boardroom diversity at US companies. The $9.5tn asset manager detailed its 2022 voting guidelines…
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Credit Suisse just named 208 MDs — here are the names
Credit Suisse has named 78 managing directors within its investment bank, as firms have increased their promotion numbers amid a…
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Investors warn of diluted protection clauses amid growth of PE funds
Limited partners in private-equity funds typically demand strong provisions in commitment agreements to ensure key fund professionals devote substantial or…
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JPMorgan hands investment bank boss Daniel Pinto a $25m retention package
JPMorgan has handed Daniel Pinto, the chief executive of its corporate and investment bank, stock awards worth around $25m in…
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Anchorage Capital returns $7.4bn to clients as it shutters flagship hedge fund
Anchorage Capital Group, one of the biggest hedge-fund investors in distressed debt, is closing its flagship fund after 18 years…
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GAM and ex-star manager who ran Greensill fund fined £9m over conflicts of interest
The City watchdog has fined Swiss asset manager GAM £9.1m and its former star manager Tim Haywood £230,037 for “conflicts of interest…
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Top execs at PGIM, Citi, JPMorgan and more on how inflation will shape markets in 2022
The Federal Reserve has paved the way for multiple rate hikes. The Bank of England has upped its benchmark to 0.25%…
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New Zealand cheers Canada’s loss in dairy dispute and calls for ‘significant reform’
Breadcrumb Trail Links News FP Economy Canada has repeatedly broken its promise to let foreign cheese and butter flow more…
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Hedge funds scour Reddit a year after GameStop: ‘It’s the tip of the iceberg of generational change’
It has been a year since the start of the GameStop saga, where a group of armchair traders on Reddit goosed the stock…
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Top Credit Suisse investor backs board to ‘revitalise’ bank after Horta-Osório exit
A major Credit Suisse shareholder said he hopes the Swiss bank will be “revitalised” following another shake-up of its board…
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TPG readies for IPO in New York
Private equity giant TPG has filed plans to go public in New York. The Texas-based buyout shop has submitted paperwork…
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Citi, Oliver Wyman and more top execs on the ‘black swans’ of 2022
It has been a wild year. Few could have predicted the impact Covid-19 would have — and is continuing to have.…
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BNP Paribas AM boss: How technology and sustainability will transform investing in 2022
Sandro Pierri is the CEO of BNP Paribas Asset Management The asset management industry has good fundamentals, but faces increasing…
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Traders push back against pre-pandemic work regime: ‘There is a risk in draining staff’
Traders at firms who are pushing for a return to pre-pandemic working arrangements fear their company’s inflexibility will leave them…
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BNP Paribas agrees to $16.3bn sale of Bank of the West to BMO Financial Group
BNP Paribas said on 20 December that it has agreed to sell Bank of the West to Bank of Montreal’s BMO Financial…
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LSE suggests special market for private companies
The London Stock Exchange Group is seeking to blur the line between public and private companies, part of a plan to attract…
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Citi dealmakers drive 78% surge in revenue as fixed-income sales slip
Citigroup’s dealmakers helped offset a slide in fixed income revenue in 2021, as investment banking fees surged to record highs.…
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How KPMG’s tough week unfolded at Carillion tribunal
A tribunal against KPMG and six of its former staff kicked off on 10 January. The Financial Reporting Council levelled the…
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JPMorgan brokerage unit fined $200m after failure to monitor WhatsApp, other messaging apps
The brokerage arm of JPMorgan on 17 December agreed to pay $200m in fines and admit that it failed to…
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The rich could face higher taxes, more regulation: DWS CIO Stefan Kreuzkamp’s prediction for 2022
Stefan Kreuzkamp is chief investment officer at DWS Being cautious about 2022 doesn’t necessarily imply waiting for a ‘black swan’.…
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US lawmakers pushing for light-touch crypto rules also own digital assets
Senators Pat Toomey and Cynthia Lummis sit on the powerful Senate Banking Committee and have been advocates for a light…
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Crypto, Elon Musk and neobanks: Best of the Fintech Files 2021
2021 was a wild year for the City and Wall Street, but was even wilder in the world of financial…
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The FCA has had a brutal 2021. Here’s why next year will be ‘daunting’ too
Between dealing with Brexit, Covid-19, executive departures, and cultural transformation, the Financial Conduct Authority has been pulled in a myriad…
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Stop paying bank CEOs to ruin the planet — link bonuses to net-zero goals
The penny still has not dropped. Our current pay structures – even with tweaks for climate factors – are rewarding…
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Meet IMCO, the new private equity firm with $6bn and UK targets on its ‘to-do list’
Armed with tens of billions of dollars, a handful of Canadian fund managers play a pivotal role in the world…
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Cryptos and NFTs: A 2021 rollercoaster in charts
Cryptocurrencies made their way onto the main stage in 2021, catching the eyes of banks and institutions as well as retail investors.…
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Chinese stocks cut $600 billion from US markets this year, and are just getting started
Chinese stocks that trade in the US have always been a double-edged sword for investors, but Americans now face a…
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Crypto, Brexit and ‘expensive mistakes’: The most-read stories of 2021
This may have been the second year of the worst global pandemic in memory, but as far as news goes,…
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Sexism, stagflation and stock markets: The best opinions of 2021
Financial News is proud to host some of the best columnists in the business, gracing our comment pages each and…
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The supply chain crisis is just getting started — here’s how it will play out
James H. Gellert is chairman and CEO of RapidRatings, a financial health data and analytics company. Those expecting a quick end…
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The biggest job moves of 2021: Staley exits Barclays, Fraser takes Citi reins and Orcel to UniCredit
This year saw some big houses change leadership. Here’s a quick roundup of some of the highest-profile people moves of…
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Woodford’s dividends dry up as former fund house posts annual loss
Having taken millions in dividends from his eponymous fund empire before its collapse, former star stock picker Neil Woodford has…
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New Year Honours 2022: KPMG, Deloitte execs make the list
Senior leaders at KPMG and Deloitte are among the City figures recognised by the government in the New Year Honours…
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Private equity firms funded tech deals with record $402bn
Private equity firms had a blockbuster year for deal-making, largely driven by technology investments. As of mid-December, private-equity firms had…
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Why painters and plumbers chatting about crypto worries R3’s boss
Cryptocurrencies are too risky for non-professional investors to handle, the boss of blockchain firm R3 said, pushing for regulators to…
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River & Mercantile CEO warns of ‘larger drawdowns than we’re accustomed to’, even if markets rise
James Barham, chief executive of advisory and asset management firm River & Mercantile Group, warned about potential hurdles for investors for…
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How a PE billionaire’s crypto bets helped double his firm’s assets to more than $90bn
While the nation was in lockdown mode in the spring of 2020, the nation’s most successful private equity software investor…
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Private equity investor set to exit stake in one of UK’s largest adviser platforms
The private equity owners behind one of the UK’s largest investment platforms for financial advisers is preparing to sell at…
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Inside the FCA’s recruitment drive after a year of morale crisis
The Financial Conduct Authority is hoping to bolster its workforce by kicking off a renewed drive to turn more staff into…
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BlackRock’s Larry Fink wants to save the world while making money
Few private citizens wield more power in America today than Larry Fink, the chief executive of BlackRock Inc. In pushing companies to embrace…
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Coinbase boss Brian Armstrong is the buyer behind LA’s priciest domestic property sale
Coinbase chief executive officer Brian Armstrong is the buyer of a $133m Los Angeles estate, according to people familiar with…
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Startups keep on beating a path to growth despite the likes of Theranos
The verdict in the criminal trial of Elizabeth Holmes completes a chapter in the tangled tale of Theranos. Meanwhile, the…
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Lawyers for Ghislaine Maxwell request new trial
Lawyers representing convicted sex-trafficker Ghislaine Maxwell asked a federal judge on 5 January to grant the British socialite a new trial…
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Citi to sack unjabbed workers as Wall Street cracks down on Covid
Citigroup is set to lay off US employees who do not get a Covid-19 vaccine by the end of the…
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Pep talk for central bankers: don’t fear the return of the bond vigilantes
Breadcrumb Trail Links FP Economy March is too soon: The Bank of Canada should use its flexibility to support the recovery as…
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TP ICAP offers European clients crypto-linked ETP
Interdealer broker, TP ICAP said it has begun to offer its European clients crypto-linked exchange-traded products (ETP), with first trades…
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Evan Fraser: B.C. storms a reminder that our food supply system leaves us ‘nine meals from anarchy’
Breadcrumb Trail Links News FP Economy Commodities Agriculture Canada needs to update its food system to become more resilient in…
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