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Feb 21, 2025 | 
news.bloomberglaw.com | William Shaw |Aisha Gani |Harry Wilson
The bosses of the UK’s biggest banks are for the most part enjoying bumper pay days, with some looking forward to even bigger maximum awards as the country lifts its cap on variable remuneration. Chief executives at Barclays Plc, HSBC Holdings Plc, NatWest Group Plc, Lloyds Banking Group Plc and Standard Chartered Plc took home a combined £37 million ($46.8 million) in 2024, up a third on £28 million the previous year. That number covers all remuneration, including salaries and bonuses.
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Feb 21, 2025 | 
news.bloomberglaw.com | William Shaw |Aisha Gani |Harry Wilson
The bosses of the UK’s biggest banks are for the most part enjoying bumper pay days, with some looking forward to even bigger maximum awards as the country lifts its cap on variable remuneration. Chief executives at Barclays Plc, HSBC Holdings Plc, NatWest Group Plc, Lloyds Banking Group Plc and Standard Chartered Plc took home a combined £37 million ($46.8 million) in 2024, up a third on £28 million the previous year. That number covers all remuneration, including salaries and bonuses.
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Feb 14, 2025 | 
news.bloombergtax.com | Upmanyu Trivedi |William Shaw
Hedge fund Altana Wealth Ltd. took trade secrets from a soured joint venture deal with an investment firm and misused them to set up its own lucrative fund, according to a London court ruling. Altana was sued by Illiquidx Ltd. after attempts to set up a joint venture to invest in Venezuela’s debt failed in 2019.
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Jan 22, 2025 | 
japantimes.co.jp | Taiga Uranaka |William Shaw
Mizuho Financial Group is aiming for a net income of ¥1 trillion ($6.4 billion) over the next three to four years, according to the bank’s chief executive officer. Masahiro Kihara said on Wednesday that domestic corporate banking, asset and wealth management, as well as global and corporate and investment banking, would all contribute to growth.
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Jan 9, 2025 | 
financialpost.com | William Shaw
Global banks are expected to cut as many as 200,000 jobs in the next three to five years as artificial intelligence (AI) encroaches on tasks currently carried out by human workers, according to Bloomberg Intelligence (BI). Back office, middle office and operations are likely to be most at risk, Tomasz Noetzel, the BI senior analyst who wrote the report, said in a message. Customer services could see changes as bots manage client functions, while know-your-customer duties would also be vulnerable.
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Nov 28, 2024 | 
news.bloomberglaw.com | William Shaw |Jonathan Browning
The UK financial regulator said it will soften its plan to “name and shame” companies it’s investigating, giving firms 10 days to object before probes are made public. The Financial Conduct Authority said on Thursday it will also consider whether announcing investigations sooner could “seriously disrupt public confidence” in the financial system or market. Only a small number of extra investigations will be publicized each year, it added.
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Nov 28, 2024 | 
finance.yahoo.com | William Shaw |Jonathan Browning
(Bloomberg) — The UK financial regulator said it will soften its plan to “name and shame” companies it’s investigating, giving firms 10 days to object before probes are made public. The Financial Conduct Authority said on Thursday it will also consider whether announcing investigations sooner could “seriously disrupt public confidence” in the financial system or market. Only a small number of extra investigations will be publicized each year, it added.
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Nov 18, 2024 | 
bnnbloomberg.ca | William Shaw |Loukia Gyftopoulou
(Bloomberg) -- Wellington Management is eliminating dozens of jobs just weeks after the firm started a voluntary redundancy program for a group of employees. Staff were notified in a companywide email Monday that the Boston-based asset manager will now cut about 1.5% of its 3,000 workers, according to a person familiar with the matter. The reductions will be across departments but won’t affect portfolio managers, the person said, asking not to be identified because the matter is private.
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Nov 17, 2024 | 
finance.yahoo.com | William Shaw |Nao Sano |Takahiko Hyuga
(Bloomberg) -- Some clients of Nomura Holdings Inc. are restarting business with the Japanese brokerage after it took steps to address concerns arising from a regulatory probe into market manipulation, according to people with knowledge of the matter. The country’s megabanks have resumed trading activities with Japan’s biggest securities firm, the people said, asking not to be named because the information is confidential.
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Nov 17, 2024 | 
news.bloomberglaw.com | William Shaw |Nao Sano |Takahiko Hyuga
Some clients of Nomura Holdings Inc. are restarting business with the Japanese brokerage after it took steps to address concerns arising from a regulatory probe into market manipulation, according to people with knowledge of the matter. The country’s megabanks have resumed trading activities with Japan’s biggest securities firm, the people said, asking not to be named because the information is confidential.
