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Omicron spoils bankers’ Christmas as UBS, JPMorgan rip up plans
Travel bans, cancelled parties and virtual festive gatherings — City firms are ripping up their Christmas plans in the wake of…
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What’s next for Libor – 2021 marks the end for the world’s most important number
The end of 2021 will mark the end of Libor… well, kind of. After years of discussion and regulatory guidance,…
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Numis hires trio from Barclays, Nomura and Fevertree for private deals team
City investment bank Numis has hired another three bankers for its team of dealmakers targeting high-growth companies raising funds away…
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View: Financial regulators stand powerless against wilful self-delusion and disregard of market realities
As a former securities fraud prosecutor, I often wonder, based on recent events, whether fraud is needed anymore to pitch worthless…
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Jury in Satoshi Nakamoto case reject claims of partnership to create bitcoin
A Florida jury rejected claims that Craig Wright and David Kleiman formed a partnership to launch bitcoin, ending a high-profile…
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FCA may face ‘expensive’ crypto court battle with deep-pocketed firms
The City’s watchdog could soon face a costly court challenge over its temporary regulation of cryptoasset activity, as the number of firms…
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Finance is bad at diversity. Here’s why private equity is even worse
It’s no secret that the finance industry lags other sectors when it comes to hiring and retaining diverse employees. And…
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Morgan Stanley banker pay swells to pre-crisis highs as deal revenue smashes records
Morgan Stanley shelled out more for its investment bankers than at the height of the pre-crisis boom as its dealmakers hauled…
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Crypto sell-off extended as Fed casts a shadow over digital assets
The Federal Reserve is casting a shadow over cryptocurrencies. Like stocks, cryptocurrencies have extended a selloff to start the year…
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BofA trading revenue misses target in sign markets frenzy fading
Bank of America’s trading revenue missed estimates in a sign the market frenzy that helped propel bank sales last year…
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Private equity deals under SEC scrutiny for more disclosure
A regulatory proposal by the Securities and Exchange Commission to make some companies disclose more financial information could throw cold…
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Hector Sants: Why we need to teach our children about finance
Sir Hector Sants was formally chief executive of the Financial Services Authority and head of compliance at Barclays. He is currently…
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Citi may cut some clients over climate concerns, CEO Fraser says
Citigroup chief executive Jane Fraser, speaking at The Wall Street Journal’s CEO Council Summit on 7 December, said the bank will…
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Visa launches crypto consultancy to help banks tackle bitcoin
Visa is launching a cryptocurrency advisory practice, a move it says will help banks and merchants embrace growing client demand…
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City investment bank Numis targets more EU and US deals in wake of Brexit
City investment bank Numis is set to launch a post-Brexit office with around 15 staff, as the traditionally UK-focused firm guns…
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FCA boss Nikhil Rathi ‘alive’ to risk of staff leaving amid pay overhaul
Financial Conduct Authority chief executive Nikhil Rathi has defended his ambitious project to overhaul the regulator’s culture in front of…
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Carlyle exec complains of firms’ ‘fatigue’ over ESG: ‘We’ve been running in 1,000 different directions’
Financial services firms have “framework fatigue” as confusion reigns over which reporting standards to use when measuring ESG performance. “One…
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Former LSE boss Xavier Rolet calls for global digital currency
Global exchanges should be working to provide a safe and regulated alternative to private cryptocurrencies, the former boss of the…
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UniCredit chief Andrea Orcel plans to unveil new strategy as restructuring nears end
ROME — UniCredit Chief Executive Andrea Orcel is set to move away from an era of restructuring at the Italian…
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All you need to know about Bain’s offer for LV= as vote looms
All eyes are on private equity giant Bain Capital and its takeover target LV= this week. Bain Capital’s £530m offer…
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Norton Rose Fulbright appoints Farmida Bi as global chair
Norton Rose Fulbright has announced London capital markets partner Farmida Bi will be its next global chair. Bi has been…
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KPMG, Deloitte and Freshfields axe Christmas parties as Omicron spreads
City firms including KPMG, Deloitte and Freshfields Bruckhaus Deringer have cancelled Christmas parties in the wake of the government’s announcement…
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Olivia Colman, Naomie Harris and Simon Pegg hit the phones for ICAP charity drive
1 of 7 The top stars of British film and television popped into ICAP’s offices on 9 December in support…
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Why inflation is here to stay: ‘Transitory does not mean one, two or even 12 months’
“Transitory” is a word that has rarely left the inflation conversation over the past six months. In the US, however,…
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Citi, HSBC join big banks in sending staff home amid Omicron caution
The final weeks of 2021 will see the City and Canary Wharf return to being ghost towns, as major investment…
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UK watchdogs tell bankers to link bonuses with risk after Archegos
UK financial regulators are demanding that banks bolster their risk management functions in the wake of the collapse of Archegos…
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Credit Suisse hires new wealth management chief, shakes up board leadership
Credit Suisse has hired a new chief executive of its wealth management division in a flurry of new board appointments…
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FCA turns to external lawyers to help with staffing crisis
The UK’s Financial Conduct Authority is recruiting private law firms and headhunters to help process applications, amid almost twice its…
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EU eyes three-year extension to post-Brexit clearing deal
The European Union plans to extend a temporary deal allowing UK clearing houses can remain open to EU banks for another three years.…
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Housing starts slow in Canada amid record shortage of homes for sale
Breadcrumb Trail Links Real Estate News FP Economy The December pullback could add to concerns about soaring home prices Housing…
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Covid is widening the gap between rich and poor countries
J Barry Eichengreen is professor of economics at the University of California, Berkeley, and a former senior policy adviser at…
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Barclays just promoted 85 to managing director — here are the names
Barclays just promoted 85 to managing director within its corporate and investment bank as firms work harder to retain talent…
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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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FCA threatened with staff strike: ‘We may have no alternative’
Workplace union Unite is threatening to organise a walkout of staff at the Financial Conduct Authority to protest planned changes to…
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Gibson Dunn swoops on Sidley Austin for London private equity trio
Gibson Dunn & Crutcher has hit up rival US law firm Sidley Austin for a three-partner private equity team in…
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JPMorgan orders unvaccinated staff in New York to work from home
JPMorgan told unvaccinated employees in New York that they must work from home starting on 14 December. The bank had…
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Talent wars and bumper deals — law firm leaders on their 2022 challenges
Coronavirus aside, 2021 was a stellar year for the UK legal market, with booming transactional markets driving record revenue and…
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SEC pushes for tighter rules on insider trading with 120-day delay before execs can sell stock
WASHINGTON — Wall Street’s regulator is putting forward tighter rules on how and when corporate insiders can sell their companies’…
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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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Don Lindsay: How to seize Canada’s clean growth opportunity
Breadcrumb Trail Links Renewables News FP Energy FP Economy Commodities The ambition Canada has shown on the climate file is…
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Bankers quit to freelance in revolt against burnout: ‘I can go to dinner with my girlfriend on Saturday night’
For the past six months, Naomi Roba has spent up to four hours a day training at a running camp…
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Forcing regulators to promote growth could threaten financial stability, MPs told
Experts warned MPs that asking regulators to promote growth and international competitiveness as well as financial stability opens the door…
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Trading Places: Citi, Barclays name MDs, Credit Suisse hires wealth boss
It’s been a big week for promotions in the City as banks make their year-end appointments of new managing directors…
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Robey Warshaw hikes partner pay to £30m as profits rebound
Robey Warshaw, the boutique that has advised some of the biggest UK takeovers alongside larger rivals, hiked pay for its top dealmakers…
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City vacancies up 40% on pre-pandemic levels as job switchers cash in on salary hikes
Now might be the best time since the beginning of the pandemic to snag a job in the City, with…
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‘Five-day rule’ hints it could be a tough year for markets
Jim O’Neill, a former chair of Goldman Sachs Asset Management and a former UK Treasury minister, is a member of…
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HSBC hands Guyett sole charge of investment bank as Elhedery takes six-month sabbatical
Greg Guyett will take sole charge of HSBC’s investment bank for six months as his co-head Georges Elhedery steps back for…
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JPMorgan’s investment bank pay swells to record $13bn as dealmaking surges
Pay within JPMorgan’s corporate and investment bank swelled to new highs as dealmakers hauled in record fees in 2021. The US…
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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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Standard Chartered fined £45m for ‘failing to be open and cooperative’ with the banking watchdog
The Prudential Regulation Authority slapped Standard Chartered with a £45.55m fine for regulatory reporting issues and for “failing to be…
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