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FCA aims to bolster graduate scheme amid staff departure fears over pay revamp
The Financial Conduct Authority says it expects to “significantly increase” its graduate intake in the coming year, despite an overhaul to…
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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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Banks can’t wait for perfection on ESG standards
Tracey McDermott is group head of conduct, financial crime and compliance at Standard Chartered, chair of the Net-Zero Banking Alliance, and former…
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Venture capitalists are unmoved as regulators try to tame wild unicorns
The wranglers at the Securities and Exchange Commission are trying to tame wild unicorns, but they are both fantastic and…
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BlackRock’s Larry Fink says profit drives his climate concern
Larry Fink’s efforts to get companies to adopt climate-friendly policies have led some to call him an activist. The BlackRock chairman and chief…
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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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Private equity investors are set for a new wave of regulation
Private-equity investors think the industry is going to be subject to increased government regulation, a prospect some view with mixed…
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HSBC clients must publish coal exit strategy by 2023, or face losing finance
HSBC’s clients must publish a plan to exit coal by the end of 2023, or the bank could cut their financing. “If no…
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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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Zopa co-founders speak out against fintech’s peer-to-peer exit
The original founders of peer-to-peer lending pioneer Zopa spoke out against the firm’s decision to exit the industry, arguing that the…
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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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Bank mergers risk delays as Biden administration shows its hand
Democratic members of the Federal Deposit Insurance Corporation are pushing to review regulations around big-bank mergers, showing the Biden administration’s wider…
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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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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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Why private equity is piling into the $176bn video game market
Millions of parents across the globe will be hoping to put a smile on their children’s face this Christmas by…
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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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Bitcoin firm NYDIG raises $1bn in blockbuster funding round
New York-based bitcoin firm NYDIG said on 14 December that it had raised $1bn at a valuation of more than $7bn,…
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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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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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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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Reddit prepares for stock market listing
Reddit said it has confidentially filed paperwork with the US Securities and Exchange Commission for an initial public offering, an…
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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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KPMG disciplinary date set over misconduct complaint involving Carillion, Regenersis audits
A disciplinary hearing has been set for KPMG and some of its former and current staff over allegations they provided…
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Clifford Chance chooses Charles Adams as its new global managing partner
Magic Circle law firm Clifford Chance elected Charles Adams as its next managing partner, commencing a four-year term on 1 May…
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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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EY’s Chris Woolard: ‘There’s a risk of a major cyber outage causing significant disruption in markets’
Chris Woolard is a partner and Emeia lead for financial services regulation at EY. He is also chair of the…
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JPMorgan rehires Marc Hussey to lead Irish operations as 30-year veteran Carin Bryans retires
JPMorgan has rehired a senior banker to lead its business in Ireland as its current chief prepares to step down…
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HSBC hires Nomura’s Chris Fincken for ongoing UK dealmaker expansion
HSBC has hired another senior dealmaker to bolster its investment bank in the City, part of an ongoing expansion of…
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Barclays set to join bank bonus race with 25% payout
Barclays is set to hike bonus payments by more than 25% in its corporate and investment bank, as firms battle…
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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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HSBC fined £64m for failings in its anti-money laundering processes
The City watchdog has fined HSBC £63.9m for “serious weaknesses” in its anti-money laundering processes. The Financial Conduct Authority said in…
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Bank of England set for more powers over clearing and settlement
The Bank of England is set to get more powers to regulate clearing and settlement houses under plans announced by the…
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Crypto traders don’t pay much attention to Wall Street advice — maybe they should
Bitcoin proponents talk about the cryptocurrency hitting $1m or even its total value reaching $300tn. The most enthusiastic “apes” claim to…
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Kempen’s UK boss on the future of fiduciary management amid regulatory disruption
This year has been a landmark one for fiduciary managers — the firms offer advice and investment management for pension…
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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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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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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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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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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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‘Bloated’ asset managers face ‘year of reckoning’ amid desperate acquisition spree
Asset managers are suffering from “bloat” due to booming pandemic markets, and face a year of “reckoning” as economic stimulus…
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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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Inside the FCA’s wild year: ‘I have never worked in such an unhappy place’
The Financial Conduct Authority has had a rough year. Talk of a morale crisis, an outcry over proposed changes to pay, and staff…
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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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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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Alantra adds four senior dealmakers to launch new team
Mid-market investment bank Alantra has recruiter four senior dealmakers for a new team covering the maritime sector as it continues…
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