City

2 months ago

The trouble with bonuses

Over lunch with the Financial Times, John McDonnell fired a warning shot over bankers’ “grotesque” bonuses this weekend, pledging a consultation on ways to limit the size of payouts. “It’s become part of the [City] culture and it is so separate and distinct and isolated from the rest of the real-world economy and that’s why people are offended by it,” said the Shadow Chancellor, who is looking at options ranging…

4 months ago

The next Chancellor but one

Labour will be on an election footing this autumn, with a well thought out strategy ready for financial reform, the Shadow Chancellor told Labour in the City’s summer reception. “Anything can happen,” said John McDonnell, referring to the imminent appointment of a new Prime Minister. He urged financial institutions to work with him to develop plans that will work effectively to reform the economy. The Shadow Chancellor and Jonathan Reynolds,…

1 year ago

Ten years on: banking beyond the crisis

To mark the tenth anniversary of the global financial crisis, Labour in the City launched an anthology of writing on the future of the financial services industry at a reception at London’s Guildhall with Alistair Darling, the former Chancellor of the Exchequer. More than 150 Labour in the City members heard Lord Darling offer his recollections on his role in stabilising the UK economy at the height of the banking…

3 years ago

Transparency: the cornerstone of rebuilding trust in the City

A friend recently asked me for some advice on how to invest a windfall, couched in the following caveat: “I don’t want to place it with a manager. I don’t understand how they justify their fees and seeing as they call their clients ‘muppets’, I’d rather go it alone.” This brief and damning summary of financial services from an average individual shows the scale of the challenge facing the industry….

4 years ago

Angela Eagle visits the City

Angela Eagle, Labour’s Shadow Secretary of State for Business, Innovation and Skills joined Labour in The City for a series of meetings across the Square Mile in December. She spoke at a round table chaired by LiTC, which was attended by major banks, senior representatives from crowd funding, venture capital, Business Angels, as well as accountants and the business startup community. After that Angela visited the RISE business escalator in…