Sally Hickey

London

Senior Reporter at FTAdviser

Acting asset management reporter @FT. "Soft Southerner”. If you want a view, look out of the window. [email protected]

Articles

UK neobanks may struggle to withstand global downturn

1 week ago | thebanker.com | Sally Hickey

When Jamie Dimon speaks, most bankers listen. The chief executive of JPMorgan Chase warned last week that the US economy was facing “considerable turbulence” as Trump’s on-again-off-again tariffs caused markets to whipsaw. While many banks benefited from this in the short-term — as a result of soaring trading profits — Dimon said a wider fallout could lead to management teams pulling financial guidance and earnings estimates for US blue-chip companies falling in the coming weeks.
Industry awaits Supreme Court’s motor finance judgment

2 weeks ago | thebanker.com | Sally Hickey

UK banks are preparing for the judgment on whether car dealers had an ethical and legal obligation to act in consumers’ best interestsThe Supreme Court’s judgment is expected in July © BloombergOver the past three days the Supreme Court has heard a case that could have a critical impact on the financial health of banks in the UK.
FCA says Court of Appeal went ‘too far’ in motor finance case

3 weeks ago | thebanker.com | Sally Hickey

UK watchdog has sided with banks on the first day of the Supreme Court case © REUTERSThe Financial Conduct Authority has told the Supreme Court that the Court of Appeal went “too far” when it ruled against motor finance lenders and brokers last year.
HSBC redundancies shock industry

3 weeks ago | thebanker.com | Sally Hickey

HSBC surprised the industry last week as news broke that it had fired investment bankers on the same day they were due to hear their bonus figures, and reportedly gave no bonuses to many it laid off. The bankers were made redundant as part of new chief executive Georges Elhedery’s plans to separate the bank into four divisions and introduce an east-west geographical split to streamline operations.
UK fintech investors sharpen focus on likely ‘winners’

4 weeks ago | ft.com | Sally Hickey

The UK economy has been the subject of much negative coverage in the past few years, but it continues to punch above its weight when it...
Lloyds warned over treatment of underperforming staff

4 weeks ago | thebanker.com | Sally Hickey

Lloyds Banking Group has been warned by unions over changes to its performance management guidance. Under plans that came into effect on Monday, Lloyds employees’ performance reviews may no longer be paused during sickness absences, leading unions Accord and Unite to warn that the changes introduce “significant risks” to mental and physical health. “We’re concerned that the new approach to structured support and formal plans . . . could result in inconsistency and unfair treatment.
Industry warns FCA to take care in loosening mortgage rules

1 month ago | thebanker.com | Sally Hickey

The Financial Conduct Authority should be cautious in its move to loosen mortgage regulations, experts have warned, after it announced plans to boost home ownership in the UK. Last week, the City watchdog said it will launch a consultation proposing ideas to simplify stress testing for mortgage applicants, and in the meantime reminded lenders of the “flexibility” in its mortgage lending rules.
FCA throws out ‘name and shame’ proposal after strong backlash

1 month ago | thebanker.com | Sally Hickey

The Financial Conduct Authority has ditched its controversial “name and shame” proposal after sustained industry criticism. The proposal — first floated early last year — to publicly identify some companies placed under active investigation by the regulator before any verdict had been reached drew criticism from city executives and MPs, including the then-chancellor Jeremy Hunt.
FCA tells UK banks to be ready for motor finance redress scheme

1 month ago | thebanker.com | Sally Hickey

The Financial Conduct Authority has instructed banks to be ready for a redress scheme if the Supreme Court upholds a case next month against motor finance lenders allegedly mis-selling car finance. The UK regulator said if the case is upheld it will confirm within six weeks whether it is proposing a redress scheme, which would require banks to determine whether or not customers have lost out and offer them appropriate compensation as a result.
UK challenger banks’ SME lending returns to growth

1 month ago | thebanker.com | Sally Hickey

Challenger and specialist banks’ lending to small and medium-sized enterprises returned to growth last year as businesses began to recover from the twin shocks of the Covid-19 pandemic and resulting inflationary squeeze. Gross lending to SMEs from non-big five banks rose 8 per cent year on year to £37.3bn in 2024, according to a report by the British Business Bank.