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Metro Bank reaches 500,000 accounts

22nd April 2015
Metro Bank, the UK’s first new high street bank in more than 100 years, has reached its half millionth customer milestone as the bank announces its quarter one financial statement to 31 March 2015. The bank saw a 56% increase in accounts opened, to achieve the 500,000. Deposits increased to £3.4 billion (€4.7 billion) - […]
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Online art market grows 68% to $2.64 billion

22nd April 2015
Recent research from specialist insurer Hiscox has revealed increased confidence in buying art online. According to the Hiscox Online Art Trade Report 2015, the value of the online art market has risen from $1.57 billion (€1.46 billion) in 2013 to an estimated $2.64 billion (€2.45 billion) in 2014. Based on these figures, online art buying […]
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VCT aggregate dividends reach all-time high

20th April 2015
With this month marking the 20th anniversary since Venture Capital Trusts (VCTs) were created, figures from the Association of Investment Companies (AIC) show that the level of aggregate dividends is at its highest annual level since VCTs were established. The VCT sector paid out aggregate dividends of £240.3 million (€334 million) over the year to […]
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Investor sentiment for UK government bonds falls

20th April 2015
April has seen the largest fall in sentiment towards UK government bonds, according to the monthly Lloyds Bank Private Banking Investor Sentiment Index. Net investor sentiment for the asset class declined five percentage points (-5pp) from last month to 16%. UK corporate bonds has also seen a decline in sentiment amongst surveyed investors to 14%, […]
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FCA fines Bank of New York Mellon £126 million

16th April 2015
The Financial Conduct Authority (FCA) has fined The Bank of New York Mellon London Branch and The Bank of New York Mellon International Limited £126 million (€175 million) for failing to comply with the FCA Client Assets Sourcebook (Custody Rules, or CASS), which applies to safe custody assets and to client money. Georgina Philippou, acting […]
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UK companies severely undervalued, new report claims

14th April 2015
A joint report from Brand Finance with the Chartered Institute of Management Accountants (CIMA) shows that companies have more than $1.58 trillion (€1.5 trillion) of assets unaccounted for, and calls for valuation of the UK’s ‘intangible assets’ and a debate about policy change. Unveiled at this morning’s The Value of UK plc event, hosted by […]
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Salaries drop for female accountants

14th April 2015
The gender pay gap for ICAEW Chartered Accountants working in business has widened, with women over 45 seeing the biggest drop in salaries from last year, according to the latest salary survey from ICAEW and Stott & May. According to ICAEW figures, male chartered accountants in business earn an average salary of £100,900 (€140,000) compared […]
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UK’s wealthy pensioners in part-time work

13th April 2015
Almost a million wealthy retirees in the UK plan to work part-time rather than raid their pension pots, despite new freedoms allowing them to do so from April 6, according to a report from RetireEasy.co.uk, the independent, free financial planning tool for those in or nearing retirement. Offering unprecedented insight into the finances of the […]
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Momentum builds for strategic M&A

13th April 2015
Megadeals valued over $5 billion (€4.7 billion) are up this quarter compared with Q1 last year, with 18 deals this year compared to 14 last year, accounting for 4% of all deals, according to the latest M&A Insights report by Allen & Overy. The $3-5 billion (€2.8-4.7 billion) range accounted for 12% of deals, with […]
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BIL Suisse in outsourcing contract with BPO Centre

10th April 2015
Banque Internationale à Luxembourg Suisse SA (BIL Suisse) has entered into a contract with B-Source, Avaloq’s Swiss BPO centre, to outsource its banking processes. The bank chose B-Source’s comprehensive and pre-configured business process outsourcing (BPO) solution based on the Avaloq Banking Suite. B-Source and BIL Suisse have signed a contract for the provision of BPO […]
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JPMorgan Chase invests in Brazil

10th April 2015
JPMorgan Chase & Co. and Omidyar Network announced a $10 million (€9.3 million) combined investment in FIRST, a private equity fund focused on serving the needs of low-income and underserved populations in Brazil, in mid-March. The fund will make investments in high-growth companies in sectors providing essential products and services to low-income households, such as […]
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Q1 decline for US IPOs

10th April 2015
After a particularly strong close for the US IPO markets in 2014, the first quarter of 2015 took a sharp turn with only 38 deals, which raised a total of $5.62 billion (€5.2 billion), according to EY’s Global IPO 2015 Q1 report. While the first quarter is traditionally slow, this is a drop of 46.5% […]
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