LONDON, May 27 (Reuters) – Australian Symon Drake-Brockman
is on the front line of a revolution in European finance.
The former head of global debt markets at Royal Bank of
Scotland now runs Pemberton Asset Management in London’s
genteel Belgravia, several miles from the “Square Mile” City of
London financial district where bankers work.
LONDON, May 22 (Reuters) – A shortage of prime office space
in rival European financial centres may torpedo plans by some of
London’s banks to quit the UK capital if Britain opts out of
European Union membership.
Prime Minister David Cameron has promised to renegotiate
Britain’s relationship with the EU and then hold a vote by the
end of 2017 on whether to stay in the bloc or leave.
LONDON (Reuters) – A shortage of prime office space in rival European financial centres may torpedo plans by some of London’s banks to quit the UK capital if Britain opts out of European Union membership.
Prime Minister David Cameron has promised to renegotiate Britain’s relationship with the EU and then hold a vote by the end of 2017 on whether to stay in the bloc or leave.
LONDON, May 18 (Reuters) – Some asset managers sided with
company managements too often in contentious votes at annual
general meetings last year, according to campaign group
ShareAction which suggested they were not fulfilling stewardship
responsibilities to clients.
But the fund firms defended their positions, saying that –
unlike many investors – they engaged with companies throughout
the year to ensure boards were held to account.
LONDON, May 15 (Reuters) – Blue chip banks could provide a
bigger stimulus to Europe’s flagging economy if they pared back
low-return mortgage lending to pump more firepower into small
business and consumer credit, the chairman of HSBC told
Douglas Flint, boss of Europe’s largest bank, said
policymakers and banks needed to reconsider the “natural
long-term holders” of Europe’s multi-trillion euro mortgage
market and debate the case for encouraging other money managers
to play a bigger role.
LONDON (Reuters) – Being one of the two most important global banks offers benefits to customers and greater resilience, but there is an increasing need to show shareholders that size matters, HSBC’s (HSBA.L: Quote, Profile, Research, Stock Buzz) chairman told Reuters.
Big, complex banks have come under pressure from investors to shrink or break up because the extra costs of managing large institutions, plus a need to hold more capital can outweigh the advantages of scale long considered the holy grail of banking.
LONDON (Reuters) – The ECB’s trillion euro money printing program has put asset managers at the frontline of a possible liquidity crunch, though bringing in new rules to curb investment risk would be wrong for now, a top EU markets supervisor said on Monday.
The European Central Bank has begun a 19-month bond-buying spree, aimed at spurring the economy and helping to push yields in fixed income markets into negative territory in some cases.
LONDON, May 8 (Reuters) – Following a recent sell-off in
German bunds, pension fund managers are resisting making any
major changes to their exposure to European government debt,
confident that demand from the European Central Bank (ECB) will
Around a third of all outstanding euro zone sovereign paper
offered negative yields last month, prompting some investors to
quit trades that have effectively forced them to pay governments
for the privilege of lending to them long-term.
LONDON, April 28 (Reuters) – Alliance Trust has agreed to
revamp its embattled board by appointing two of the three
directors pushed by Elliott Advisors, handing a partial win to
the activist just hours before other investors were due to vote
on the shake-up.
The last-minute compromise marks the end of one of the
highest-profile shareholder rebellions against a British company
and sets the stage for further change at the 127-year old
company led by Katherine Garrett-Cox.
LONDON (Reuters) – HSBC Holdings (HSBA.L: Quote, Profile, Research, Stock Buzz), Europe’s biggest bank, will review whether to move its headquarters out of Britain, potentially dealing a blow to a country trying to balance tighter regulation with the importance of the financial industry to its economy.
The announcement comes less than two weeks before UK elections on May 7 and poses challenges for both the Conservatives seeking to return to government and their main rival, the Labour party.