Sam Birchall

United Kingdom

Staff Finance Writer at Raconteur

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Articles

Worked to death: inside the banking sector’s toxic culture - Raconteur

4 days ago | raconteur.net | Sam Birchall

The investment banking industry has long been criticised for its gruelling hours and toxic work culture. A 2021 survey from first-year analysts at Goldman Sachs described “inhumane” conditions and persistent abuse during their time working for the US branch of the bank. On average, analysts said they were working 95 hours a week and were frequently sworn or shouted at.
Does your company need an executive security budget?

2 weeks ago | raconteur.net | Sam Birchall

The business world was left shaken after a chilling attempt to abduct the daughter and grandchild of a crypto executive in broad daylight in the centre of Paris earlier this month. Just four months earlier, David Balland, co-founder of the crypto firm, Ledger, and his partner were kidnapped and held for ransom. And, in a separate incident late last year, Brian Thompson, CEO of UnitedHealth’s insurance division, was fatally shot while walking alone to a corporate event in midtown Manhattan.
Confessions of an inside trader: ‘market uncertainty is a breeding ground for rule-breaking’ - Raconteur

1 month ago | raconteur.net | Sam Birchall

As a young hedge fund analyst in New York City, Tom Hardin made a series of poor decisions that led him into the world of insider trading. “I didn’t wake up one day intending to commit a crime. I was a 20-something analyst trying to prove myself in a high-stakes, high-pressure industry,” he says. Like many in finance, Hardin was chasing “performance, reputation and the illusion of success”. Slowly, he started making compromised decisions, cutting corners in ways he convinced himself were harmless.
Former Oracle CFO on how to survive a recession

1 month ago | raconteur.net | Sam Birchall

When Jeff Epstein was vice-president and CFO at Oracle during the 2008 financial crisis, his team had $10bn (£7.8bn) in cash but were not immune to the market collapse. The experience taught him how to make critical decisions so the business could survive – and fundamentally shaped his perspective on how finance leaders should navigate risk and uncertainty.
Three-minute explainer on... shadow banking

1 month ago | raconteur.net | Sam Birchall

Financial institutions that operate outside the traditional banking system but perform similar functions, such as lending money or facilitating investments, are rather ominously known as shadow banks. Politicians and economists have warned that shadow banking, when left to its own devices, has the potential to trigger a financial collapse. Last year, the Bank of England’s governor, Andrew Bailey, sounded the alarm on the risky nature of shadow banking.
Is the ONS still fit for business purpose?

1 month ago | raconteur.net | Sam Birchall

The collection of official statistics in the UK dates back hundreds of years but until the second world war broke out, there was no central department to manage all of this data. To aid the war effort, the British government created an independent agency that could coordinate economic data, monitor evacuation schemes and better understand the impact of air raids. It helped, among other things, to find the most efficient ways to produce weapons, allocate troops and transport supplies.
Why finance needs more unconventional leaders

1 month ago | raconteur.net | Sam Birchall

Finance functions could benefit from more outsiders at the top table. Unconventional leaders often bring diverse or unique cultural, educational or industry-based experience that can help challenge groupthink, drive innovation and improve decision-making. Finance teams are often victims of stereotyping. Most people entering the profession are qualified accountants or auditors. But the industry is crying out for fresh talent, as capable finance leaders are in high demand and short supply.
‘Choose the path of least resistance’: Qualtrics’ CFO on how to scale a global company - Raconteur

1 month ago | raconteur.net | Sam Birchall

Rachita Sundar never expected to build a career in finance. After earning a degree in electrical engineering, she began her career as a software developer at Wipro Technologies in 2003. Tasked with interviewing clients to understand how they’d use the systems her team was building, Sundar soon found herself more interested in their business operations than her company’s software products – a realisation that led her back to college to pursue an MBA in finance.
Three-minute explainer on… the vibecession

1 month ago | raconteur.net | Sam Birchall

Even before Trump’s tariffs sent shockwaves through global markets, a feeling of economic pessimism has been rife. Three-quarters of UK citizens (77%) think the economy is in a bad state at the moment, according to a recent YouGov poll. This sense of unease is spilling into buying habits, with consumer confidence plummeting. But there is a disconnect between people’s negative perceptions about the economy and the latest, relatively promising macroeconomic data.
In the eye of the tariff storm, CFOs tackle rising costs and uncertainty

1 month ago | raconteur.net | Sam Birchall

Little more than 12 hours after President Trump’s tariffs took effect, he paused them for 90 days. This may have triggered a surge among the battered global stock markets but the latest rebound looks more like brief respite than a long-term turning point. Many analysts caution against reading too much into the bounce. Kate Leaman, chief market analyst at Avatrade, warns that this is likely a temporary surge, rather than a lasting recovery.