FT Banking Weekly

FT Banking Weekly

www.ft.com/banking-weekly
Financial Times correspondents discuss the latest issues and events in banking


Behind the Money: Missing out on the US small business rescue
Apr 28 • 21 min
Behind the Money is a podcast from the Financial Times that takes listeners inside the business and financial stories of the moment, with reporting from FT journalists around the world. You can find Behind the Money wherever you get your podcasts,…
Behind the Money: Running a small business during a global pandemic
Apr 14 • 20 min
Behind the Money is a podcast from the Financial Times that takes listeners inside the business and financial stories of the moment, with reporting from FT journalists around the world. You can find Behind the Money wherever you get your podcasts,…
Behind the Money: Ford, GM and the corporate dash for cash
Mar 31 • 18 min
Behind the Money is a podcast from the Financial Times that takes listeners inside the business and financial stories of the moment, with reporting from FT journalists around the world. You can find Behind the Money wherever you get your podcasts,…
Introducing Behind the Money: Barclays and the legal fight over a ‘controlling mind’
Mar 17 • 28 min
Behind the Money is a podcast from the Financial Times that takes listeners inside the business and financial stories of the moment with reporting from FT journalists around the world. You can find Behind the Money wherever you get your podcasts,…
Coronavirus and the new oil price war
Mar 10 • 20 min
How are banks dealing with the market chaos caused by coronavirus and the new oil price war? Also, Bob Diamond has appointed his flamboyant former right-hand man at Barclays, Rich Ricci, as chief executive of Panmure Gordon, the lossmaking UK stockbroker…
Coronavirus contingency planning
Mar 3 • 19 min
Matthew Vincent and guests discuss European banks’ readiness to handle a coronavirus epidemic, whether Europe’s investment banks are in full retreat in the US, and Deutsche Bank’s compliance problems in the UK. With special guest Miles Celic, chief…
European banks’ game of thrones
Feb 25 • 17 min
Matthew Vincent and colleagues discuss the hunt for new chief executives among Europe’s top banks and JPMorgan’s plans to launch a digital bank in the UK. With special guest Sir Mike Rake, former CBI president, and former deputy chairman of Barclays.…
HSBC shrinks in the US and Europe
Feb 18 • 23 min
Matthew Vincent and guests discuss what’s behind HSBC’s decision to cut 35,000 jobs in the US and Europe, Jes Staley’s future as boss of Barclays after another regulatory probe, RBS’s new name, and Deutsche Bank’s disappearing compliance contractors. With…
Britain’s Brexit gambit, Thiam ouster
Feb 11 • 22 min
Matthew Vincent and guests discuss revelations about the UK’s opening gambit in seeking a deal on ‘equivalence’ with the EU, Tidjane Thiam’s ouster from Credit Suisse, HSBC’s delay in choosing a permanent chief executive, and challenger bank Starling’s…
Goldman’s tech tie-ups, DBank’s turnaround and bankers’ misconduct
Feb 4 • 19 min
Matthew Vincent and colleagues discuss Goldman Sachs and Amazon - another big tech tie-up for the Wall Street name, Deutsche Bank’s profit targets, and what a case of stealing from a workplace canteen tells us about the current climate for ethics and…
Barclays bonuses, Goldman’s consumer gamble and Amigo’s share plunge
Jan 28 • 21 min
Matthew Vincent and guests discuss the double-digit fall in the 2019 bonus pool for Barclays investment bankers, Goldman Sachs’s shift in focus towards consumers, and UK subprime lender Amigo’s dramatic fall in value. With special guest Dr Monica…
Davos News, Bank of America outlook and JPMorgan’s shift towards Paris
Jan 21 • 13 min
Patrick Jenkins and guests discuss the latest from the World Economic Forum in Davos, the outlook for Bank of America, and JPMorgan Chase’s decision to buy a second office in Paris. With special guest Brian Moynihan, chief executive of Bank of America.…
Barclays under fire on climate
Jan 14 • 14 min
Patrick Jenkins and guests discuss the pressure Barclays has come under to curb fossil fuel financing, a radical plan to overhaul regional banking in Japan, and the latest US bank results. With special guest Christian Wilson from ShareAction.…
HSBC targeted by Hong Kong protesters, SocGen M&A
Jan 7 • 16 min
Patrick Jenkins and guests discuss why protesters in Hong Kong are targeting HSBC, whether Société Générale is in a position to merge with other banks and the challenges facing banking in 2020. With special guest John Garvey, Global Head of Financial…
UK stress tests, racism at JPMorgan and predictions for 2020
Dec 17, 2019 • 19 min
Patrick Jenkins and guests discuss what the latest stress tests tell us about the health of UK banks, racism in US banking after recent revelations about the treatment of black customers at JPMorgan Chase, and predictions for the year ahead. With special…
Bank capital rules, peer-to-peer lenders and Goldman for the masses
Dec 10, 2019 • 17 min
Patrick Jenkins and guests discuss whether regulators are easing up on bank capital rules, tough times for UK peer-to-peer lenders, and why Goldman Sachs is planning to bring wealth management to the masses. With special guest Harald Benink, professor of…
Risks mount in European banks, EBA warns
Dec 3, 2019 • 17 min
Patrick Jenkins and guests discuss the EBA report on mounting risk in the European banking system, Goldman Sachs’ first ever investment day and why the pensions of UK banking CEOs are being cut. With special guest Mario Quagliariello, director of economic…
Outlook for German banks
Nov 26, 2019 • 14 min
Patrick Jenkins and guests discuss the health of German banks in the wake of bearish comments from Moody’s and the Bundesbank, Unicredit’s potential share buyback and why European banks appear to be retrenching in the US. With special guest Magdalena…
Google eyes Citigroup for new banking venture
Nov 19, 2019 • 17 min
Patrick Jenkins and guests discuss Google’s move towards banking that could see it team up with Citigroup, why Australia’s big four are facing difficult times and what’s in the report on TSB’s software failure last year. With special guest Masha Cilliers,…
Germany moves to unblock eurozone banking union
Nov 12, 2019 • 18 min
Patrick Jenkins and guests discuss Germany’s concession that could unblock progress towards a eurozone banking union, investor moves against Deutsche Bank chairman Paul Achkleitner, and what’s behind the recent spate of personnel changes in investment…
Payment fraud, DBank leadership and JPMorgan loans
Nov 5, 2019 • 20 min
Patrick Jenkins and guests discuss push-payment fraud in the UK and who should compensate the victims, why Deutsche Bank is coming under pressure from investors to appoint a new investment banking chief, and why JPMorgan Chase in the US has been selling…
HSBC and UBS restructure, Lloyds slips up
Oct 29, 2019 • 13 min
Patrick Jenkins and guests discuss the latest restructuring plans at HSBC and UBS, and the embarrassing mishandling of wills at Lloyds Bank. With special guest Eric Moore, fund manager at the UK’s Miton Income Fund. Contributors: Patrick Jenkins,…
StanChart pay row, Citigroup on Brexit and Facebook’s Libra
Oct 22, 2019 • 18 min
David Crow and guests discuss Standard Chartered chief Bill Winters’ ‘voluntary’ pay cut after a dispute over his pension allowance, Citigroup’s confidence in the City of London regardless of the outcome of Brexit, and gathering clouds for Facebook’s much…
Barclays trial, climate initiative and Fed regulatory reprieve
Oct 15, 2019 • 15 min
Patrick Jenkins and guests discuss the retrial of former Barclays bankers over the bank’s arrangements with Qatar at the height of the financial crisis, the poor level of support among banks for a climate change initiative backed by Bank of England…
HSBC job cuts, US bank results and Metro Bank chairman departs
Oct 9, 2019 • 16 min
Patrick Jenkins and guests discuss HSBC’s cost-cutting drive, what to expect from next week’s US bank results, and the departure of Vernon Hill from Metro Bank. With special guest Jordi Gual, chairman of Spain’s CaixaBank Contributors: Patrick Jenkins,…
Credit Suisse scandal, Wells Fargo’s new chief and ECB interest rate policy
Oct 1, 2019 • 21 min
David Crow and guests discuss the scandal that has engulfed Credit Suisse, including the apparent suicide of a security consultant involved in a corporate espionage operation for the bank, US bank Wells Fargo’s new chief executive, and the merits of the…
RBS’s new chief, Swiss hiring spat and who advised WeWork?
Sep 24, 2019 • 16 min
Patrick Jenkins and guests discuss RBS as Alison Rose, the first woman to lead one of the UK’s top banks, takes the helm, Iqbal Khan and the hiring spat between Credit Suisse and UBS, and the role of US investment banks in the failed WeWork IPO. With…
Facebook’s Libra, UK digital banks and JPMorgan metals traders charged
Sep 17, 2019 • 18 min
Patrick Jenkins and guests discuss Facebook’s recent talks with the world’s central bankers on its plans for a digital currency, whether the UK’s challenger banks can maintain their astonishing rate of expansion, and a potential scandal at JPMorgan as…
UK PPI scandal, Goldman moves and Eurofi lobbying
Sep 10, 2019 • 22 min
Patrick Jenkins and guests discuss the huge cost of the UK’s PPI mis-selling scandal, the latest personnel changes at Goldman Sachs and growing unease about the role of Eurofi in shaping Europe’s financial sector policy. With special guest Dominic…
UK mortgage market, Indian banks and UBS leadership
Sep 3, 2019 • 16 min
Patrick Jenkins and guests discuss the outlook for the UK mortgage market, the reform of India’s state-owned banks and leadership changes at UBS. With special guest Darren Cook, Mortgage Analytics Manager at Moneyfacts. Contributors: Patrick Jenkins,…
Deutsche Bank overhaul, challenger banks and Citigroup
Jul 30, 2019 • 15 min
Patrick Jenkins and guests discuss how the overhaul at Deutsche Bank is going, catch up with the challenges facing challenger banks and look at why Citigroup is coming under pressure to restructure. With special guest Mark Mullen, chief executive of Atom…
RBS succession, Goldman’s consumer arm and Ukraine’s PrivatBank
Jul 23, 2019 • 18 min
Patrick Jenkins and guests discuss a surprise candidate to succeed Ross McEwan as head of Royal Bank of Scotland, Goldman Sachs’s nascent Marcus brand and Igor Kolomoisky’s bid to reverse the nationalisation of Ukraine’s PrivatBank. With special guest…
Citigroup results, Standard Chartered’s pay revolt and money laundering outlook
Jul 16, 2019 • 18 min
Patrick Jenkins and guests discuss what Citigroup’s results tell us about the US bank earnings season, Standard Chartered chief Bill Winters’ defiant response to investor criticism of his pay packet, and how banks are tackling the problem of money…
Deutsche Bank overhaul, Orcel’s Santander lawsuit and Dublin’s banking ambitions
Jul 9, 2019 • 16 min
Patrick Jenkins and guests discuss Deutsche Bank’s radical overhaul, Andrea Orcel’s lawsuit against Santander and Ireland’s plans to expand Dublin as a financial centre. With special guest Michael D’Arcy, Irish financial services minister. Contributors:…
Insider trading trial, HSBC and Huawei and Credit Suisse tax dispute
Jul 2, 2019 • 21 min
Patrick Jenkins discusses the Financial Conduct Authority’s latest insider trading case and what it tells us about how market abuses are being tackled, why HSBC is on the defensive in China, and why Credit Suisse is suing the UK tax authorities.With…
Lloyds’ offshore banking problem, Facebook’s Libra and US stress tests
Jun 25, 2019 • 12 min
Patrick Jenkins and guests discuss Lloyds Bank and its offshore banking problems, the latest on the regulatory tests facing Facebook’s Libra initiative, and how banks have fared in this year’s US Fed stress tests. Contributors: Patrick Jenkins, financial…
UBS’s ‘Swinegate’, Deutsche’s bad bank and Facebook’s digital currency
Jun 18, 2019 • 18 min
Patrick Jenkins and guests discuss UBS’s cultural faux pas in China, Deutsche Bank’s plan to set up a ‘bad bank’ and Facebook’s bid to shake up the payments world. With special guest Jan Kvarnström, bank restructuring expert. Contributors: Patrick…
Money laundering in Europe, China’s bad debts and why bankers love running
Jun 11, 2019 • 15 min
Patrick Jenkins and guests discuss why new powers given to Europe’s banking watchdog may not be enough to stem the tide of dirty money sweeping through the bloc, a potential bad-debt build up in China’s banking system, and why so many bankers in New York…
Paris special on European banking
Jun 4, 2019 • 25 min
Patrick Jenkins and guests discuss the future of European banking post Brexit on the sidelines of the FT’s first Banking and Finance Conference in Paris, plus the latest on separate initiatives by Facebook and by a group of 13 banks to explore the…
Deutsche Bank cuts, UBS strategy and Lendy goes under
May 28, 2019 • 21 min
Stephen Morris and guests discuss the potential departure of Deutsche Bank’s Garth Ritchie, head of the corporate investment bank, over planned cuts, a strategic rethink at UBS, and the collapse of UK peer-to-peer lender Lendy. Contributors: Stephen…
Barclays and the BoE, forex fines and US non-performing loans
May 21, 2019 • 13 min
Patrick Jenkins and guests discuss Barclays and the Bank of England intervention to attempt to block the Serious Fraud Office investigation into the bank, the latest fines over the manipulation of foreign exchange, and non-performing loans tick up in the…
Metro Bank, Asia’s fintech challengers and Softbank’s stake in Greensill
May 14, 2019 • 15 min
Patrick Jenkins and guests discuss Metro Bank as its shares fall to an all-time low, Hong Kong’s fintech challengers, and why SoftBank’s Vision Fund has invested in UK private finance shadow bank Greensill. With special guest, John Cronin from Goodbody…
Barclays off the hook, Goldman’s Marcus roll-out and UBS revolt
May 7, 2019 • 10 min
Patrick Jenkins and guests discuss the latest stage in the battle between the management at Barclays and activist investor Edward Bramson, delays to the roll-out plan for Goldman Sachs’s Marcus online savings product in Europe, and what’s behind the AGM…
Buffett on banks, Brunei boycott and the failed German bank merger
Apr 30, 2019 • 16 min
Patrick Jenkins and guests discuss Warren Buffett’s views on banks, JP Morgan’s decision to boycott Brunei-owned hotels over the kingdom’s anti-gay laws and why the merger talks between Germany’s Deutsche Bank and Commerzbank failed. Contributors: Patrick…
Barclays bonuses, Nomura’s cutbacks and Revolut’s rethink
Apr 23, 2019 • 15 min
Barclays bonuses, Nomura’s cutbacks and Revolut’s rethink Patrick Jenkins and guests discuss Barclays’s decision to cut bonuses for staff, Nomura’s plan to slash representation in London and the controversial fintech company Revolut’s ‘coming of age’.…
Staley vs Bramson, Goldman’s fixed income fix and RBS’s online bank Bó
Apr 16, 2019 • 18 min
David Crow and guests discuss the battle between Barclays and the activist investor Edward Bramson, Goldman’s quest to find a fix for its fixed income business, and whether RBS’s new online only bank Bó can compete with digital natives like Monzo and…
UniCredit’s plan to bid for Commerzbank, StanChart’s $1bn fine and US regulation
Apr 9, 2019 • 10 min
Patrick Jenkins and guests discuss UniCredit’s potential bid for Commerzbank, Standard Chartered’s $1bn fine to settle its Iran sanctions probe and US deregulation or re-regulation of foreign banks. Contributors: Patrick Jenkins, financial editor, David…
Deutsche-Commerzbank merger, Nordic money laundering and Wells Fargo’s departing CEO
Apr 2, 2019 • 18 min
Patrick Jenkins and guests discuss the latest twists of the Deutsche-Commerzbank merger plan, the spiralling Swedbank money laundering scandal and why Wells Fargo’s chief executive had to go. With special guest Graham Barrow, an independent financial…
Brexit planning, pressure over bankers’ pay and the UK’s trapped mortgagees
Mar 26, 2019 • 17 min
Patrick Jenkins and guests discuss the Brexit-linked relocation of London-based bank staff, why investors in Europe are becoming restive over bankers’ pay and why the UK regulator has intervened to help homeowners trapped by inflexible mortgage…
National champions, German bank merger, WorldPay and women at Goldman
Mar 19, 2019 • 17 min
David Crow and guests discuss what the ECB thinks of the creation of national banking champions, the prospective merger between Deutsche Bank and Commerzbank, Fidelity National Information Services’s $43bn acquisition of Worldpay, and the attempt by…
UBS women, ‘doom loop’ returns and DBank merger options
Mar 12, 2019 • 22 min
Patrick Jenkins and guests discuss UBS’s treatment of its women employees in Switzerland, the return of the banking ‘doom loop’ and the prospects for a merger between Germany’s two biggest banks Deutsche Bank and Commerzbank. With special guest Katie…
Prospects for a German bank merger, JPMorgan revenues and challenger banks
Mar 5, 2019 • 17 min
Patrick Jenkins and guests discuss the prospects for a merger between Germany’s two biggest banks Deutsche Bank and Commerzbank, JPMorgan’s revenue warning and the growing challenges facing the UK’s fintech sector. With special guest Tom Merry of…
Brexit planning, Swedbank probe and Italian bank financing
Feb 26, 2019 • 12 min
Patrick Jenkins and guests discuss the variety of financial contingency plans UK banks have drawn up for Brexit, how Swedbank has become embroiled in the Danske Bank money laundering scandal, and some good news for Italy’s indebted banks. With special…
Brexit concerns, BoA’s Europe moves, Citi’s tech plans and London property investment
Feb 19, 2019 • 16 min
David Crow and guests discuss how banks are preparing for Brexit, including Bank of America’s costly European restructuring, Citigroup’s property investment in London, as well as the bank’s plans to replace some of its staff with AI and its long term…
Deutsche Bank’s funding round, M&A in US banking and Lloyds’s wealth management move
Feb 12, 2019 • 17 min
Patrick Jenkins and guests discuss what Deutsche Bank’s latest funding round says about the broader bank financing market, the BB&T and SunTrust merger in the US and whether it heralds a new phase of M&A in US banking, and why Lloyds in the UK is hiring…
Dry January in the bond and IPO markets, Australia’s bank inquiry and wealth managers
Feb 5, 2019 • 12 min
Patrick Jenkins and guests discuss why the bond and IPO markets went quiet at the start of the year, the results of Australia’s inquiry into industry misconduct and the bear market in wealth management. Contributors: Patrick Jenkins, financial editor,…
Metro Bank’s bleak prospects, Davos predictions and former Barclays chief on trial
Jan 29, 2019 • 18 min
Patrick Jenkins and guests discuss Metro Bank’s prospects after a sharp fall in its shares following the disclosure that it had misreported its risk weighting, predictions from Davos and the trial of former Barclays chief executive John Varley and three…
US bankers pay, UBS results, Davos curtainraiser and MarketInvoice
Jan 22, 2019 • 21 min
Patrick Jenkins and guests discuss whether US bankers pay is too high, UBS’s disappointing results, highlights from Davos and the decision by two high street banks to invest in UK-based lender MarketInvoice. Contributors: Patrick Jenkins, financial…
Wells Fargo, US bank results and UK Open Banking one year on
Jan 15, 2019 • 13 min
Patrick Jenkins and guests discuss whether US bank Wells Fargo has been able to put a series of scandals behind it, US bank results and the UK’s Open Banking regime one year on. With special guest Tim Sloan, chief executive of Wells Fargo. Contributors:…
Contactless payments, Barclays battles and predictions for 2019
Jan 8, 2019 • 18 min
Patrick Jenkins and guests discuss the rise of contactless payments in the US, Edward Bramson’s battle to shake things up at Barclays and predictions for global banks and the financial services industry in 2019. With special guest Ronit Ghose, Global…
Goldman Sachs, Credit Suisse and European banks in 2018
Dec 18, 2018 • 11 min
Patrick Jenkins and guests discuss the latest allegations against Goldman Sachs in relation to the 1MDB scandal in Malaysia, Credit Suisse’s advice to customers to think about moving money out of the UK, and the FT’s review of European banks in 2018…
Credit Suisse share buyback, Amazon Web Services and HSBC’s Huawei connection
Dec 11, 2018 • 13 min
Patrick Jenkins and guests discuss Credit Suisse as it prepares for a share buyback, Amazon Web Services’s expanding offering for banks, and HSBC’s Huawei connection. Contributors: Patrick Jenkins, financial editor, David Crow, banking editor, Caroline…
Brexit, UK stress tests and UniCredit’s expensive bond deal
Dec 4, 2018 • 12 min
Patrick Jenkins and guests discuss last week’s bank stress tests and UniCredit’s decision to pay a heavy price tag to issue a new $3bn bond, and John Glen, City minister, talks about why he thinks Theresa May’s Brexit deal will be good for the UK…
Goldman’s 1MDB woes, StanChart share buyback and Bob Diamond’s investment strategy
Nov 27, 2018 • 11 min
Patrick Jenkins and guests discuss Goldman Sachs and the 1MDB scandal as Malaysian prime minister-in-waiting Anwar Ibrahim lashes out at the US bank, Standard Chartered’s secret project to buy back an estimated $1bn-plus of its shares and former Barclays…
SocGen’s $1.3bn fine, TSB’s new chief and Danske Bank whistleblower speaks out
Nov 20, 2018 • 14 min
Patrick Jenkins and guests discuss French bank Société Générale’s $1.3bn fine for US sanctions violations, the task facing TSB’s new chief executive Debbie Crosbie and the first public testimony of the British man who exposed the Danske Bank money…
Goldman Sachs, banking sector “returners” and the averted collapse of Carige
Nov 13, 2018 • 17 min
Patrick Jenkins and guests discuss the latest developments in Goldman Sachs’ brewing 1MDB scandal, how to get women back into banking and what the banking industry’s rescue of troubled lender Carige says about the broader Italian market. With special…
Barclays’ new chairman, EBA stress tests and trouble at Goldman Sachs
Nov 6, 2018 • 13 min
Patrick Jenkins and guests discuss Barclays’ new chairman, the latest European Banking Association stress tests and trouble at Goldman Sachs as two of its former bankers are criminally charged with helping to loot the Malaysian state investment fund 1MDB,…
Auditing cryptocurrencies, Brexit blues and ‘naughty’ banks in the US
Oct 30, 2018 • 20 min
David Crow and guests discuss a push by top accountancy firms to offer services to those with a foothold in the cryptocurrencies sector, a derivatives deal in Europe, Brexit blues at RBS, the search for a European investment banking champion and the US’s…
Bramson’s Barclays test, the future of CYBG and US online banking
Oct 23, 2018 • 18 min
David Crow and guests discuss Barclays as it tries to defend itself against activist investor David Bramson, the future of CYBG after it completed its £1.7bn takeover of Virgin Money, and the growing competition in the US online banking market.…
BofA loses market share, RBS rebuilds trust and Barclays launches US digital service
Oct 16, 2018 • 16 min
Patrick Jenkins and guests discuss Bank of America’s struggling M&A franchise, the Royal Bank of Scotland’s recovery ten years after it was bailed out by the British government, and Barclays’ decision to get into online banking in the US. Contrubutors:…
ECB warns on UK’s ‘back-to-back’ facility, bank stability, and coding lessons at JPMorgan
Oct 9, 2018 • 18 min
Patrick Jenkins and guests discuss the European Central Bank’s warning about the continued use of ‘back-to-back’ booking models for trades and loans after Brexit, an academic’s view of the risks to bank stability ten years after the financial crisis, and…
Andrea Orcel moves to Santander, Paris wins post-Brexit business and Tesco Bank fined
Oct 2, 2018 • 16 min
Patrick Jenkins and guests discuss Andrea Orcel’s move from UBS to Santander, France’s success in luring banks to set up their post-Brexit trading businesses in Paris, and why Tesco Bank received a £16m fine over its handling of a 2016 cyber attack. With…
Innovation at Mastercard, HSBC’s ‘persistent failure’ memo and more on the Danske scandal
Sep 25, 2018 • 18 min
Mastercard CFO Martina Hund-Mejean on the commercial opportunities in data analysis; a leaked memo by HSBC executives claims that its investment banking strategy has “utterly failed”; and yet more news about the money-laundering scandal at Danske Bank.…
Credit Suisse censured, Deutsche Bank’s post-Brexit plans and Goldman Sachs reshuffles
Sep 18, 2018 • 18 min
Patrick Jenkins and colleagues discuss the Swiss regulator’s action against Credit Suisse for breach of money-laundering rules, Deutsche Bank’s move to shrink its London assets post-Brexit and changes at the top of Goldman Sachs. With special guest Lara…
Scandal at ING, diversity in banking and financial crisis winners
Sep 11, 2018 • 19 min
Patrick Jenkins and guests discuss the latest European money laundering scandal, this time at the Dutch bank ING, the FT’s latest survey on women in banking, and who are the big winners from the financial crisis a decade on. With special guest Daniel…
TSB’s tech travails, Danske scandal and changing German attitudes
Sep 4, 2018 • 20 min
Patrick Jenkins and guests discuss the departure of Paul Pester as chief executive of TSB after a disastrous IT upgrade, Danske Bank’s money laundering scandal and changing German government attitudes towards banks. See acast.com/privacy for privacy and…
City Brexit concerns, RBS’s Stevenson and UBS’s Q2 results
Jul 24, 2018 • 15 min
Mounting concern in the City over the a potential no-deal Brexit; an interview with outgoing RBS finance director Ewen Stevenson, and a look at UBS’s second-quarter results. Patrick Jenkins is joined by George Parker, Nicholas Megaw and Ben McLannahan.…
New rules for Tencent and Alipay, Deutsche Bank profits and Blankfein bows out
Jul 17, 2018 • 12 min
Patrick Jenkins and guests discuss new rules that bring to a close the era of free money for China’s online payment giants Tencent and Alipay, Deutsche Bank’s improved earnings and change at the top of Goldman Sachs Check out our subscriber offer at…
Messy Brexit talks, the allure of Paris and a scandal at Danske Bank
Jul 10, 2018 • 17 min
Patrick Jenkins and guests discuss the UK government’s failure so far to come up with a coherent policy on Brexit for the financial services industry, how France’s president Emmanuel Macron is taking advantage of the disarray to lure more banks to Paris,…
FCA chairman on data, regulation and Brexit, Monzo losses and Rothschild battle
Jul 3, 2018 • 16 min
Patrick Jenkins and colleagues discuss Charles Randell’s priorities as he takes up his role as chairman of the UK Financial Conduct Authority, whether challenger bank Monzo can stem its losses, and the battle that has riven the Rothschild banking dynasty.…
EBA warns on Brexit planning, Commerzbank’s AI pilot and BofA’s Paris move
Jun 26, 2018 • 15 min
Patrick Jenkins and guests discuss a warning from the European Banking Authority that banks’ plans for a hard Brexit are inadequate, Commerzbank’s latest experiment with artificial intelligence in writing research reports, and Bank of America’s decision…
Australian bank scandals, Adyen listing and CYBG’s Virgin Money deal
Jun 19, 2018 • 14 min
Patrick Jenkins and guests discuss the cartel prosecution involving some of Australia’s top banks, the spectacular valuation of Dutch payment group Adyen at its recent IPO, and CYBG’s takeover of Virgin Money Contribute to our listener survey and enter…
HSBC’s growth strategy, Citi’s jobs warning and TSB’s IT fiasco
Jun 12, 2018 • 14 min
Patrick Jenkins and guests discuss HSBC’s new growth strategy, a jobs warning from Citi, and whether TSB chief Paul Pester can survive the criticism he’s facing over the bank’s bungled switch in IT systems. With special guest Joseph Dickerson, banking…
RBS stake sale, Visa Europe outage and prospects for a UniCredit-SocGen merger
Jun 5, 2018 • 13 min
Patrick Jenkins and guests discuss the timing of the UK government’s sale of its first RBS stake in three years, outage trouble at Visa Europe, and prospects for a merger deal between Italy’s UniCredit and France’s Société Générale See acast.com/privacy…
Italian turmoil, US mergers, Deutsche Bank’s AGM and recruitment trends
May 29, 2018 • 19 min
Martin Arnold and guests discuss Italy’s market turmoil and its impact on the banking sector, the return of ‘animal spirits’ to the US banking sector, Deutsche Bank’s AGM and the latest recruitment trends. See acast.com/privacy for privacy and opt-out…
Barclays clears legal hurdle, Deutsche Bank AGM and fintech challenges
May 22, 2018 • 19 min
Patrick Jenkins and colleagues discuss Barclays’s victory in a Serious Fraud Office case relating to its 2008 Qatar fundraising, growing investor pressure on Deutsche Bank chairman Paul Achleitner to step down and how banks are handling the fintech…
Goldman Sachs’s European consumer arm, RBS’s US settlement and JPMorgan in Asia
May 15, 2018 • 13 min
Patrick Jenkins and guests discuss the rollout of Goldman Sachs’s European consumer operation, RBS’s US mis-selling payout and JPMorgan’s bid to re-enter China’s securities market. With special guest Richard Gnodde, head of Goldman Sachs International.…
Hedge fund bets, CYBG’s approach for Virgin Money and Greek banks
May 8, 2018 • 14 min
Patrick Jenkins and guests discuss Caius Capital’s investment in UniCredit, ValueAct’s investment in Citi, CYBG’s takeover approach for Virgin Money and the latest Greek bank stress test results. With special guest Davide Serra, CEO and founder of…
Deutsche axes global investment bank, TSB outage and regulating the cloud
May 2, 2018 • 13 min
Patrick Jenkins and guests discuss Deutsche Bank’s move to abandon plans to become a leading global investment bank, the reputational damage done by TSB’s outage and what financial regulators can do about the way banks outsource their data storage…
European banks’ Q1 results, the data lessons from Facebook and Africa’s BitPesa
Apr 25, 2018 • 23 min
Patrick Jenkins and guests discuss Q1 results from Santander and UBS and what they mean for rivals, the implications for banks from the Facebook scandal and PSD2 plus a look at BitPesa, the innovative sub-Saharan African payments business. With special…
Santander’s blockchain forex service, Goldman profits and Deutsche Bank review
Apr 17, 2018 • 15 min
Martin Arnold and guests discuss Santander’s innovative blockchain-based foreign exchange service, improved profits at Goldman Sachs and the ECB’s request to Deutsche Bank that it calculate the costs of winding down trading assets on its investment bank.…
Deutsche Bank, Barclays and the Euribor-rigging trial
Apr 10, 2018 • 16 min
Patrick Jenkins and guests discuss the change of leadership at Deutsche Bank, whether Jes Staley can hang on at Barclays See acast.com/privacy for privacy and opt-out information.
Tech threat to banks, class action lawsuit against Goldman and Barclays’ ‘ringfenced’ bank
Apr 3, 2018 • 18 min
Martin Arnold and guests discuss the threat to banks from new tech groups, the class action lawsuit against Goldman Sachs over sexual discrimination and Barclays’ launch of the first British ‘ringfenced’ bank. With special guest Carlo Messina of Italy’s…
Deutsche Bank succession, Brexit optimism and subprime lender Elevate
Mar 27, 2018 • 24 min
Patrick Jenkins and guests discuss the potential change in leadership at Deutsche Bank, three reasons for the City of London to be cheerful about its post-Brexit prospects and a year in the life of the recently floated US subprime lender Elevate. With…
Barclays, bank regulation on pause and PayPal in Asia
Mar 20, 2018 • 19 min
Patrick Jenkins and guests discuss the growing pressure on Barclays to turn round recent poor performance after activist investor Edward Bramson took a significant stake, a change of gear at the Financial Stability Board which is putting new policy…
Goldman Sachs succession, UBS Asia IPO ban and professional standards in British banking
Mar 13, 2018 • 13 min
Patrick Jenkins and guests discuss the succession race at Goldman Sachs, the decision to ban UBS from sponsoring IPOs in Hong Kong for 18 months, and an initiative to improve standards in British banking. With special guest Brendan Barber, deputy chair of…
Spanish bank consolidation, growth in shadow banking and Dodd-Frank reform
Mar 6, 2018 • 15 min
Patrick Jenkins and guests discuss the prospect of further consolidation in the Spanish banking industry, the growth of shadow banking and what to expect from Dodd-Frank reform in the US. With special guest José Ignacio Goirigolzarri, executive chairman…
Deutsche Bank’s mystery shareholder, European recruitment spree and Wolf of Wall Street
Feb 27, 2018 • 21 min
Patrick Jenkins and guests discuss what we know, or rather don’t know, about Deutsche Bank’s biggest shareholder HNA, hopeful signs of a revival in European investment banking, and Ben McLannahan in the US talks to the real ‘Wolf of Wall Street’ Jordan…
HSBC’s Gulliver bows out, Mumbai bank fraud and CommonBond
Feb 20, 2018 • 22 min
Patrick Jenkins and guests discuss Stuart Gulliver’s legacy at HSBC as the bank reports its first revenue gain in six years, a $1.8bn bank fraud at the Punjab National Bank in Mumbai and the education finance market in the US. With special guest David…
Barclays faces new charge, Triodos innovates and outlook for Citizens Bank in the US
Feb 13, 2018 • 25 min
Martin Arnold and guests discuss the latest charges against Barclays, Bevis Watts of the ethically-focused bank Triodos talks about his new UK peer-to-peer lending model and Bruce van Saun, CEO of Citizens Bank talks about financial regulation in the US.…
Brexit and financial regulation, Wells Fargo sanctions and Moody’s forecasts
Feb 6, 2018 • 23 min
Patrick Jenkins and guests discuss Brexit and financial regulation, the Fed’s decision to sanction Wells Fargo directors and Moody’s predictions for the year ahead. With special guests PRA chief Sam Woods and Ana Arsov from Moody’s See acast.com/privacy…
JPMorgan succession, probe into RBS crisis unit and Davos reflections
Jan 30, 2018 • 11 min
Patrick Jenkins and guests discuss Jamie Dimon’s decision to stay on as head of JPMorgan, the probe into RBS’s restructuring unit GRG, and reflections from Davos. See acast.com/privacy for privacy and opt-out information.
Davos news, UBS reorganisation and US bank earnings
Jan 23, 2018 • 16 min
Patrick Jenkins and guests discuss news from the elite gathering in Davos, UBS’s reorganisation and fourth quarter US bank earnings. With special guest Andrei Kostin, chief executive of leading Russian bank VTB See acast.com/privacy for privacy and…
Recruitment, Brexit and the gender pay gap
Jan 16, 2018 • 15 min
Patrick Jenkins and colleagues discuss the rivalry between technology companies and banks over recruiting MBA graduates, recent talks between City of London executives and the Theresa May government on Brexit, and Citigroup’s attempt to address the gender…
US tax cuts, Chinese shadow banking and US consumer lending
Jan 8, 2018 • 26 min
Patrick Jenkins and guests discuss the pros and cons of US tax cuts for domestic and international banks, a crackdown by Chinese regulators on so-called entrusted lending and US Banking Editor Ben McLannahan interviews US Consumer Bankers Association boss…
Deutsche Bank bonuses, Mifid II and wealth management for women
Jan 2, 2018 • 14 min
Patrick Jenkins and guests discuss John Cryan’s signal that ‘normal’ bonuses and pay rises are back at Deutsche Bank, the introduction of Mifid II regulations this week and why weatlh managers are directing greater attention towards female clients. With…
New Basel reforms, Brexit update and Swiss private banking
Dec 12, 2017 • 14 min
Patrick Jenkins and guests discuss the long-awaited compromise deal on Basel reforms, banks’ reaction to the preliminary UK-EU deal on Brexit and the future of Swiss private banking. See acast.com/privacy for privacy and opt-out information.
Deutsche Bank’s asset management arm, Swiss probe of Saudi accounts and bankers pay
Dec 5, 2017 • 12 min
Patrick Jenkins and guests discuss Deutsche Bank’s plans for the flotation of its asset management arm next year, Swiss efforts to assist the Saudi corruption probe and how the issue of bankers pay has resurfaced See acast.com/privacy for privacy and…
UK stress tests, Julius Baer chief’s move to Pictet and US regulatory reform
Nov 28, 2017 • 24 min
Patrick Jenkins and guests discuss the latest UK bank stress test results, Swiss banker Boris Collardi’s switch to Pictet and US financial regulatory reform. With special guests Isabelle Jenkins of PWC and Oliver Ireland of US law firm Morrison &…
EBA moves to Paris, Brexit outlook and Singapore’s fintech festival
Nov 21, 2017 • 17 min
Patrick Jenkins and guests discuss the decision to move the European Banking Agency from London to Paris, the outlook for European banking post-Brexit and Singapore’s attempt to lure fintech. With special guest Miles Celic, head of TheCityUK lobby group.…
Sweden’s mortgage market, Brexit manoeuvres and US bank consolidation
Nov 14, 2017 • 25 min
Patrick Jenkins and guests discuss warning signs for Sweden’s mortgage market and ‘branching back’ as a way of coping with Brexit, with special guest David Parker of consultants Accenture, while Ben McLannahan in the US talks to Tom Michaud, chief…
HSBC, Wall Street’s Brexit worries and sexual abuse in the City
Nov 7, 2017 • 12 min
Patrick Jenkins and guests discuss HSBC’s ‘week of two halves’, a recent visit to Wall Street by Kathryn McGuinness, policy chair of the Corporation of London, and the concerns she found there about Brexit, and a special FT investigation into sexual abuse…
Brexit job moves, Deutsche Bank and Barclays’ disappointing Q3s and Gordon Brown’s book
Oct 31, 2017 • 20 min
Patrick Jenkins and guests discuss how “back-to-back” trading mechanisms could help keep more jobs in the City post-Brexit, why Deutsche Bank and Barclays had such bad investment banking results in the third quarter and the hottest banking revelations…
HSBC forex trial, Commerzbank and Alphasense
Oct 24, 2017 • 20 min
Martin Arnold and guests discuss the trial of ex-HSBC forex trader Mark Johnson and its potential repercussions for the pro bank as it prepares for potential takeover bids, and the impact of AI on the way professional research is done. With special guest…
Credit Suisse, Lloyds’s HBoS fallout and Bank Leumi USA
Oct 18, 2017 • 32 min
Patrick Jenkins and guests discuss the campaign by a Swiss activist hedge fund to break up Credit Suisse, the fallout from HBoS for Lloyds banking group, and Bank Leumi’s growth plans in the US. With special guests David Herro of Harris Associates, Davide…
RBS, eurozone bad loan provisions and the US deposit market
Oct 10, 2017 • 19 min
Patrick Jenkins and guests discuss RBS and the outlook for the bank and the UK economy, new eurozone rules on provisioning for bad loans and the health of the US deposit market. With special guest Ewen Stevenson, financial director of the Royal Bank of…
Deutsche Bank woes, TSB’s IT problem and HSBC leadership changes
Oct 3, 2017 • 10 min
Patrick Jenkins and guests discuss Deutsche Bank’s difficulties as chief executive John Cryan comes under pressure from investors, the delay in the TSB’s latest IT project, and who the new HSBC chairman has picked as his CEO. See acast.com/privacy for…
Goldman Sachs, Brexit and a Japanese digital cash initiative
Sep 26, 2017 • 11 min
Patrick Jenkins and guests discuss Goldman Sachs as it falls down the rankings, the latest thinking on banks and Brexit and a new digital cash initiative in Japan. See acast.com/privacy for privacy and opt-out information.
Dimon on bitcoin, HSBC forex trader trial and the Equifax hack
Sep 19, 2017 • 13 min
Patrick Jenkins and guests discuss the head of JPMorgan Chase’s latest comments on bitcoin, HSBC’s forex trader trial and the Equifax security breach. See acast.com/privacy for privacy and opt-out information.
Goldman’s consumer finance push, Mifid II and Citigroup’s trading warning
Sep 12, 2017 • 14 min
Patrick Jenkins and guests discuss Goldman’s decision to expand its nascent consumer business to the UK, the ructions in research caused by Europe’s looming Mifid II rules and what Citigroup’s warning about a decline in third-quarter trading means for the…
Banks look to the blockchain, Barclays’ website woes and the Wells Fargo scandal
Sep 5, 2017 • 21 min
Martin Arnold and guests discuss how banks are collaborating to bring blockchain technology to financial markets, Barclays’ new error-prone stockbroking website and the latest developments in the Wells Fargo fake accounts scandal. With special guest Lee…
PPI claims to end, insider selling on Wall Street and Lloyds sells London HQ
Aug 29, 2017 • 11 min
Patrick Jenkins and guests discuss the UK regulator’s eye-catching ad to remind people about the PPI claims deadline, Wall Street bankers and how they seem to be selling their own shares and Lloyds Bank’s decision to sell it’s London headquarters. With…
Encrypted messaging, Barclays’s Qatar loan and Indian consumer lending
Aug 22, 2017 • 15 min
Patrick Jenkins and guests discuss an FBI warning over the use of encrypted messaging by financial criminals, the latest revelations about Barclays’s controversial loan to Qatar in 2008 and the rapid changes in consumer lending in India. With special…
Vantiv buys Worldpay, Qatar boycott spreads and US credit card wars
Aug 15, 2017 • 11 min
Caroline Binham and guests discuss the takeover of the UK’s Worldpay by Cincinatti-based Vantiv, the repercussions of the regional boycott of Qatar for banks with Gulf ties, and US credit card incentives. See acast.com/privacy for privacy and opt-out…
EU bail-out rules, RBS money laundering probe and financial crisis fines
Aug 8, 2017 • 16 min
Caroline Binham and guests discuss EU rules on winding down banks, RBS’s Brexit plans and a money laundering probe and how much banks have paid since the financial crisis ten years ago. With special guest Anna Bradshaw of the law firm Peters & Peters. See…
The rising cost of Brexit, HSBC outlook and AI on the trading floor
Aug 1, 2017 • 17 min
Martin Arnold and guests discuss a new study that puts a price on what Brexit will cost Europe’s banks, the outlook for HSBC, and the latest use of artificial intelligence on the investment banking trading floor. With special guest Matthew Austen of…
Bankers’ pay, Brexit moves and UK consumer debt
Jul 25, 2017 • 12 min
Patrick Jenkins and guests discuss the transatlantic pay gap among bank chief executives, Frankfurt’s emergence as the new favourite EU financial centre and a Bank of England warning about consumer debt. With special guest John Roe, head of ISS analytics.…
Washington gridlock, Goldman dress codes and Wall St results
Jul 18, 2017 • 13 min
Patrick Jenkins and guests discuss JP Morgan chief Jamie Dimon’s outburst on Washington gridlock, Goldman Sachs’s new dress code and Wall Street results. See acast.com/privacy for privacy and opt-out information.
The outlook for UK banks, UBS robots and US quarterly earnings
Jul 11, 2017 • 20 min
Patrick Jenkins and guests discuss the outlook for UK banking, UBS’s new robots, and US quarterly bank earnings. With special guest Stephen Jones, chief executive of the trade body, UK Finance. See acast.com/privacy for privacy and opt-out information.
Bids for Worldpay, battles with Banco Popular bondholders, bonanza for US banking investors
Jul 4, 2017 • 18 min
Patrick Jenkins and guests discuss two unsolicited bids for Worldpay, and the legal fight by Banco Popular bondholders against the so-called bail-in, while US banking editor Ben McLannahan talks to Chris Kotowski of Oppenheimer about the results of US…
Italian bank bail-outs, warning from China’s banking regulator and capital demands from the UK central bank
Jun 28, 2017 • 18 min
Patrick Jenkins and guests discuss the Italian bank bail-outs, the warning from China’s banking regulator and the latest capital demands from the UK central bank. Italy appears to have dodged new rules to protect taxpayers from bank bailouts. We talk to…
Global regulation, fraud case against Barclays, deregulation under Trump
Jun 20, 2017 • 22 min
Brooke Masters and guests discuss global regulation and the prospects for consensus as new leaders take over some of the biggest organisations, the fraud case against Barclays and its former top executives and the impact of the Trump administration on…
Santander-Popular deal , troubled bank ‘resolution’ and the FX scandal
Jun 13, 2017 • 15 min
Patrick Jenkins and guests discuss Santander’s acquisition of troubled rival Banco Popular, the broader implications of ‘resolving’ troubled banks in Spain, Italy and beyond, and the foreign exchange trading scandal — will the latest suspects be…
Allied Irish Banks’ IPO, HSBC moves jobs to Birmingham and M&A fees
Jun 6, 2017 • 10 min
Patrick Jenkins and guests discuss the planned IPO of Allied Irish Banks, HSBC’s struggle to move 1,000 jobs from its London headquarters to Birmingham, and M&A fees - do big banks or boutiques make the most money? See acast.com/privacy for privacy and…
Russian banks, UK peer-to-peer lenders and the lure of millennials in the US
May 30, 2017 • 23 min
Martin Arnold and guests discuss Russian disappointment with the Trump presidency, progress in the UK peer-to-peer lending sector, and how a US disruptor bank enjoyed rapid growth by offering free checking accounts to millennials. With special guests…
Distressed eurozone banks, RBS on trial, hiring in Asia and Canadian banks
May 23, 2017 • 14 min
Patrick Jenkins and guests discuss RBS as it attempts to settle with disgruntled shareholders, global banks increase their hiring in Asia and some worrying signs about the health of Canada’s mortgage lenders. See acast.com/privacy for privacy and opt-out…
Lloyds returns to private sector, GIC bails out of UBS and US money transfer market
May 16, 2017 • 16 min
Patrick Jenkins and guests discuss the return of Lloyds to the private sector, the decision by Singapore’s GIC to cut its stake in UBS and consolidation and competition in the US money transfer market. With special guests Sir Win Bischoff, former Lloyds…
Goldman Sachs, Brexit, Wells Fargo and BoE payment reforms
May 9, 2017 • 19 min
Martin Arnold and guests discuss Goldman’s management shake-up, why more banks are warning about the impact of Brexit on their UK operations, a look ahead to Wells Fargo’s investor day and the Bank of England’s plan to modernise its payment systems. With…
European bank results, euro clearing and UK credit card risk
May 2, 2017 • 12 min
Patrick Jenkins and guests discuss European bank results and why they shape up badly against the American banks, EU plans to move euro clearing out of London to continental Europe and credit card risk in the UK, with special guest Chris Wheeler of…
Deutsche Bank breaks Volcker rule, Credit Suisse earnings, a new UK lobby group and China’s UnionPay
Apr 25, 2017 • 12 min
Patrick Jenkins and guests discuss how Deutsche Bank broke the Volcker rule, Credit Suisse’s first quarter earnings, a new banking lobby group in the UK and the attempt by UnionPay, China’s domestic credit card, to penetrate international markets. See…
US bank deregulation, free in-credit banking in the UK and Goldman results
Apr 18, 2017 • 9 min
Caroline Binham and guests discuss the fate of the Volcker rule and bank deregulation in the US, the UK’s free in-credit retail banking model and Goldman Sachs’s disappointing first quarter performance. With special guest Paul Volcker, former Federal…
Barclays chief faces probe, Deutsche revival and US bank earnings
Apr 11, 2017 • 16 min
Christopher Thompson and guests discuss the damage to the reputation of Jes Staley, Barclays chief executive, over his conduct towards a whistleblower, Deutsche Bank’s capital increase and what to expect from this week’s US bank earnings reports. With…
Women in finance, Credit Suisse tax probe and non-US banks in America
Apr 4, 2017 • 18 min
Patrick Jenkins and guests discuss new FT data on women in banking and why so few make it to the top, the sweeping tax probe facing Credit Suisse, and how regulation affects non-US banks in America. With special guest Sally Miller, chief executive of the…
UK stress tests, ‘one-hour contracts’ and Credit Suisse bonuses
Mar 28, 2017 • 15 min
Patrick Jenkins and the Financial Times banking team talk to Simon Brennan, a director at Deloitte, about the Bank of England’s stress tests. The team also discuss Santander’s introduction of ‘one-hour contracts’ and take a look at Credit Suisse as it…
The lure of Frankfurt, investment bank rankings, and ATMs
Mar 21, 2017 • 17 min
Patrick Jenkins and guests discuss signs that Frankfurt is winning the race to win jobs from London ahead of Brexit, the latest investment bank rankings, and the 50th anniversary of the ATM – the only financial innovation of modern times that has actually…
Bank ethics, HSBC’s new chairman and the life of a Wall Street analyst
Mar 20, 2017 • 21 min
Caroline Binham and guests discuss a new survey of bank ethics in the UK, Mark Tucker’s appointment as chairman of HSBC, and how the role of Wall Street bank analyst has changed in the last 25 years. With special guest Dame Colette Bowe of the UK Banking…
Deutsche’s rights issue, holding managers to account and Goldman’s phone crackdown
Mar 7, 2017 • 14 min
Patrick Jenkins and guests discuss Deutsche Bank’s big rights issue, the UK Senior Managers Regime one year on, and Goldman Sachs’s crackdown on free phone calls. With special guest Davide Serra of Algebris Investments. See acast.com/privacy for privacy…
New UK clearing bank, Deutsche Bank pay and US banks’ expatriate workers
Feb 28, 2017 • 14 min
Patrick Jenkins and guests discuss the launch of the first new clearing bank in the UK in 200 years, Deutsche Bank pay and the friction in the US between Trump’s protectionist policies and banks’ desire to employ staff in Asia. With special guest Nick…
RBS’s EU reprieve, Deutsche Bank’s mystery investor and HSBC profits slide
Feb 21, 2017 • 17 min
Patrick Jenkins and guests discuss a proposal that Royal Bank of Scotland should no longer be required to sell Williams & Glyn, Deutsche Bank’s mystery Chinese investor and HSBC’s disappointing results. With special guest Andrew Coombs of Citigroup. See…
Credit Suisse results, the Co-op’s woes and how to price loans to people with limited credit histories
Feb 14, 2017 • 20 min
Patrick Jenkins and the FT banking team discuss Credit Suisse’s full-year results with Berenberg analyst James Chappell and the Co-operative Bank’s struggle to survive under its current ownership. They also talk to Douglas Merrill of ZestFinance, a…
Gary Cohn and US deregulation, Lloyds abuses and Italian banks
Feb 7, 2017 • 23 min
Patrick Jenkins and guests discuss the merits of putting former Goldman Sachs banker Gary Cohn in charge of US deregulation, Lloyds bank’s review of HBOS fraud customers, and Italian banking as UniCredit goes to the market and Intesa ponders a takeover of…
Deutsche Bank settles Russia probe, Goldman challenges Trump and Europe’s toxic loans
Jan 31, 2017 • 12 min
Patrick Jenkins and guests discuss Deutsche Bank’s latest legal settlement, Goldman Sachs’ criticism of Donald Trump’s immigration reforms and the proposed creation of a ‘bad bank’ to deal with Europe’s toxic loans. With special guest Andrea Enria,…
European banks on Brexit, Lloyds cyberattack and US banks on fintech
Jan 24, 2017 • 14 min
Martin Arnold and guests discuss European banks’ views on Brexit as expressed at the FT’s European financial forum in Dublin, the recent cyberattack on Lloyds Bank and how mainstream US banks view their fintech competitors. With special guests Noreen…
Davos news, William Hague joins Citigroup and US fourth quarter earnings
Jan 17, 2017 • 12 min
Patrick Jenkins and guests discuss the latest news from Davos as financiers and policymakers gather in the Swiss ski resort, William Hague’s appointment as an adviser to US bank Citigroup and the first of the US bank’s fourth quarter earnings. See…
Global bank reform postponed, UK ringfence concerns and US banks’ credit outlook
Jan 10, 2017 • 20 min
Patrick Jenkins and guests discuss the decision by global financial supervisors to postpone a key bank reform vote, concerns that UK banks may be in danger of missing a 2019 ringfence deadline, and the credit markets outlook for US banks. With special…
Lloyds MBNA deal, US payments app Circle and 2017 predictions
Dec 20, 2016 • 15 min
Patrick Jenkins and guests discuss Lloyds Bank’s first acquisition since it was rescued by the UK taxpayer over seven years ago, the Goldman Sachs-backed payments app Circle, and predictions for 2017, With special guest Jeremy Allaire, chief executive of…
Italy’s Unicredit, Goldman Sachs succession and tackling cybercrime
Dec 13, 2016 • 14 min
Patrick Jenkins and guests discuss Unicredit’s restructuring plan, the implication for Goldman Sachs of another departure from its ranks, the bank’s number two Garry Cohn, the recent hacking of customer accounts at the UK’s Tesco Bank and international…
Italian referendum fallout and RBS liabilities
Dec 6, 2016 • 13 min
Patrick Jenkins and guests discuss the repercussions of the Italian referendum on the country’s banking sector and the costs for RBS as the UK bank tries to settle old scores with old shareholders. With special guest Davide Serra of investment fund…
Italian banks, UK stress test results and US fintech
Nov 30, 2016 • 20 min
Patrick Jenkins and guests discuss the outlook for Italian banks ahead of Sunday’s referendum, UK stress tests and why RBS failed, and a new mood of co-operation between US banks and fintech companies. With special guests James Sym, fund manager at…
Fading global consensus on bank rules, change at Goldman Sachs and Lloyds Bank’s credit card gamble
Nov 22, 2016 • 15 min
Patrick Jenkins and guests discuss the EU proposal to tighten rules for overseas banks operating in the bloc in a tit-for-tat step against the US, change at the top of Goldman Sachs and Lloyds Bank’s big bet on credit cards. See acast.com/privacy for…
Trump and Wall Street, City jobs at risk over clearing, and Asian investment banking
Nov 15, 2016 • 18 min
What Donald Trump’s presidency means for Wall Street, the jobs implications in the City if euro-denominated clearing is forced out of London after Brexit, and prospects for investment banking in Asia. Patrick Jenkins is joined by Martin Arnold, Philip…
HSBC results, Tesco Bank cyber attack and US mortgage market
Nov 8, 2016 • 16 min
Patrick Jenkins and guests discuss HSBC’s surprisingly strong third quarter results, the cyber disaster at Tesco Bank and the low rate of US mortgage market defaults. With special guest Ronit Ghose, head of global banks research at Citigroup. See…
European bank results, Brexit debate and robo advisers
Nov 1, 2016 • 17 min
Patrick Jenkins and guests discuss the latest European bank results, which were better than expected, concerns about government secrecy on Brexit talks, and robo advisers in the US. With Chirantan Barua of Bernstein Research and Bill Harris, CEO of…
Monte dei Paschi’s new plan, low returns in Asia and US retail banks
Oct 25, 2016 • 20 min
Martin Arnold and guests discuss the latest turnround plan announced by Italy’s Monte dei Paschi, western investment banks’ struggle to make money in Asia and the impact of low interest rates on US retail banks, with special guests Filippo Alloatti of…
RBS, investment bank league tables and US quarterly earnings
Oct 18, 2016 • 14 min
Patrick Jenkins and guests discuss the Royal Bank of Scotland’s falling valuation, the use and abuse of league tables by investment banks and US third quarter bank earnings, with special guest Sandy Chen, banks analyst at Cenkos. See acast.com/privacy for…
Transatlantic tensions over Basel, Brexit fallout and Deutsche Bank’s special treatment
Oct 11, 2016 • 19 min
Patrick Jenkins and guests discuss transatlantic tensions over proposed new Basel committee rules, more Brexit fallout and why European regulators gave Deutsche Bank special treatment in the summer’s stress tests. See acast.com/privacy for privacy and…
Deutsche Bank, RBS’s robot teller and blockchain meets Wall Street
Oct 4, 2016 • 20 min
Patrick Jenkins and guests discuss Deutsche Bank’s torrid week, RBS’s new robot teller, and a US company that is using blockchain to make capital markets more efficient. With special guests Jane Howard of RBS and NatWest, and Caitlin Long of Symbiont. See…
Deutsche Bank disasters, HSBC succession plans and an investment platform for women
Sep 27, 2016 • 17 min
Patrick Jenkins and guests discuss Deutsche Bank’s falling share price, succession planning at HSBC and in the US, Sallie Krawcheck of Ellevest tells Alistair Gray why women need their own investment platform. See acast.com/privacy for privacy and opt-out…
EU passporting rights, Deutsche Bank’s giant fine and Wells Fargo fallout
Sep 20, 2016 • 18 min
Patrick Jenkins and guests discuss data showing the importance of the single market, Deutsche Bank’s potential $14bn fine, and the fallout from the Wells Fargo mis-selling scandal, with special guest Terry Jorde, chief of staff at the Independent…
Phantom accounts, gold-plated pensions and digitally profiling potential bankers
Sep 13, 2016 • 19 min
The Financial Times banking team looks at the Wells Fargo “phantom account” scandal, the Bank of England’s generous pension scheme, and how Deutsche Bank is using new technology to screen tens of thousands of candidates for graduate jobs. See…
Brexit options, RBS deposits and investment bank results
Sep 6, 2016 • 15 min
Patrick Jenkins and guests discuss the latest thinking on Brexit and the Swiss-plus model, what the Royal Bank of Scotland does with its deposits and the downturn in investment bank results. They are joined by special guest Tim Bush of investor advisory…
CBI on Brexit, Barroso’s Goldman job and Fed policy options
Aug 30, 2016 • 18 min
Patrick Jenkins and guests discuss the CBI’s views on regulation post-Brexit and former EU chief José Manuel Barroso’s new job at Goldman Sachs, while in the US, Ben MacLannahan talks to Kim Schoenholtz, of NYU Stern School of Business, about Fed policy…
Brexit options, Deutsche Bank and US mortgage insurance
Aug 23, 2016 • 20 min
Patrick Jenkins and guests discuss the latest developments in the UK Brexit debate and what options are on the table for UK financial institutions, why a Deutsche Bank whistelblower spurned his award and developments in the US mortgage insurance market.…
ValueAct’s stake in Morgan Stanley, new accounting rules and hoarding cash
Aug 16, 2016 • 16 min
Martin Arnold and guests discuss ValueAct’s stake in Morgan Stanley, why banks appear unprepared for a looming international accounting change, and hoarding cash: a drastic response to negative interest rates. With special guest Andrew Spooner of…
UK retail banks told to reform services, RBS ditches spin-off and small business lenders in the US
Aug 9, 2016 • 22 min
Christopher Thompson and guests discuss the UK competition watchdog’s long-awaited report into the state of retail banking, Royal Bank of Scotland’s decision to abandon its spin-off of Williams and Glyn, European investment banks’ underperformance and the…
European stress tests, Lloyds results and PPI, plus six years of Dodd-Frank
Aug 2, 2016 • 21 min
Patrick Jenkins and Laura Noonan discuss the European stress tests with KPMG’s Marcus Evans, Emma Dunkley looks at results from Lloyds and the latest developments in the PPI mis-selling scandal. Meanwhile, Ben McLannahan speaks to Doug Landy, partner at…
HSBC forex fallout, Luxembourg’s pitch to City firms and the MF Global settlement
Jul 26, 2016 • 17 min
Patrick Jenkins and Martin Arnold discuss US authorities’ allegation that current and former HSBC employees cheated clients on a foreign exchange deal, and look at how Luxembourg is pitching to win business from firms in the City of London stung by…
Unicredit’s new chief, US bank results and the cost of Brexit
Jul 19, 2016 • 12 min
Patrick Jenkins and guests discuss US bank results, particularly Goldman Sachs, the Boston Consulting Group’s report on what Brexit will cost the banking system, and Italy’s banking crisis, with special guest Jean-Pierre Mustier, Unicredit’s new chief…
Bankers’ pay, women in finance and US quarterly bank earnings
Jul 12, 2016 • 21 min
Patrick Jenkins and Laura Noonan discuss bank chief executives’ pay and the latest UK moves to get more women into finance, with special guest Harriett Baldwin, economic secretary to the UK Treasury, and in the US Ben McLannahan previews US banks’ second…
Banking Weekly extra: derivatives trading under pressure
Jul 11, 2016 • 7 min
In this extra edition of Banking Weekly, Owen Walker and Philip Stafford discuss the challenges derivatives trading is facing from regulation, technology and macroeconomics, and hear the views of participants at a recent derivatives conference in London.…
Brexit’s impact on UK and Italian banks and US stress tests
Jul 5, 2016 • 14 min
Patrick Jenkins and guests discuss the mayhem in the Italian banking sector, the consequences of the Brexit vote for RBS and the Bank of England’s stability outlook and the results of the latest US stress tests. See acast.com/privacy for privacy and…
The future of the City of London after Brexit
Jun 28, 2016 • 20 min
Patrick Jenkins and guests are joined by Simon Gleeson, a partner at law firm Clifford Chance for an extended discussion on the implications of Britain’s vote to leave the European Union for foreign and UK banks in the City of London. See…
BoE embraces fintech, bankers personalities and US stress tests
Jun 21, 2016 • 18 min
Patrick Jenkins and guests discuss the Bank of England’s decision to embrace financial technology, why bankers’ personalities are a key risk factor, with special guest Sascha Steffen of the University of Mannheim, and this week’s US Fed stress tests. See…
Goldman Sachs in the dock, investment banking fees and Standard Chartered
Jun 14, 2016 • 19 min
Patrick Jenkins and guests discuss allegations against Goldman Sachs, investment banking fees in the US versus Europe, and conduct issues at Standard Chartered, with special guest, chief executive Bill Winters. See acast.com/privacy for privacy and…
EU bank health, hiring and RBS spin-off, Citizens
Jun 7, 2016 • 20 min
Patrick Jenkins and guests discuss why European banks are still not up to scratch in terms of emergency cash calls, with special guest José Manuel González-Páramo, head of regulation at Spain’s BBVA, also changes in hiring practices, and Ben McLannahan in…
Peer-to-peer lenders, European rights issues and US regulation
May 31, 2016 • 23 min
Martin Arnold and guests discuss whether the US peer-to-peer bubble is bursting, rights issues in Europe, and the failings of US bank regulation. See acast.com/privacy for privacy and opt-out information.
Contactless payments, Unicredit and US bank risk
May 24, 2016 • 17 min
Patrick Jenkins and guests discuss the rapid rise of contactless payments in the UK, management changes at UniCredit, Italy’s biggest bank, and how Moody’s, the ratings agency, views US investment banks See acast.com/privacy for privacy and opt-out…
UK high street competition, cyber risk and Goldman Sachs’s natural gas business
May 17, 2016 • 17 min
Patrick Jenkins and guests discuss competition on the UK high street, cyber risk to banks and how Goldman Sachs has become one of the biggest natural gas merchants in North America. See acast.com/privacy for privacy and opt-out information.
UK mortgage market, Tabernula convictions and trouble at Lending Club
May 10, 2016 • 15 min
Patrick Jenkins and guests discuss the latest innovations in the UK mortgage market, the outcome of the Tabernula insider trading case in the UK and the surprise resignation of Lending Club’s Renaud Laplanche. See acast.com/privacy for privacy and opt-out…
European bank results, Deutsche Bank’s legal problems and Chinese shadow banking
May 3, 2016 • 14 min
Patrick Jenkins and guests discuss a gloomy set of European bank results, problems at Deutsche Bank after the UK financial watchdog found failings in relation to financial crime and China’s shadow banking sector. See acast.com/privacy for privacy and…
Goldman’s move to retail banking, ‘coco’ bonds and UK banks fall behind in Europe
Apr 26, 2016 • 17 min
Patrick Jenkins and guests discuss Goldman Sachs’s move into retail banking, the usefulness or otherwise of ‘coco’ bonds and why British banks aren’t doing as well as their European continental rivals. See acast.com/privacy for privacy and opt-out…
Fixing Italy’s banks, US quarterly results and ‘living wills’
Apr 19, 2016 • 15 min
Patrick Jenkins and guests discuss how to fix the problems in Italy’s banking system and US banks’ first quarter results and Ben McLannahan discusses the US policy response to ‘too-big-to-fail’ banks with US analyst Nancy Bush. See acast.com/privacy for…
Fintech, the strengthening dollar, and misinformation hitting share prices
Apr 12, 2016 • 18 min
Banking Weekly discusses the growing investment in financial technology, the purported link between misinformation in the press and weak share prices, and has a conversation with the Bank for International Settlement’s Jaime Caruana about the risks of a…
Growth prospects of investment banks, PPI reclaims and Fed power
Apr 5, 2016 • 17 min
Claer Barrett and guests discuss growth prospects for investment banks, notably Deutsche Bank and Credit Suisse, and the drip drip of PPI reclaims in the UK. In the US, Alistair Gray talks to Larry Jacobs of Minesota university about his critique of how…
Brexit, Credit Suisse and how low interest rates affect margins
Mar 29, 2016 • 13 min
Patrick Jenkins and guests discuss what banks think about a possible Brexit and Credit Suisse’s unexpected portfolio of high risk assets, and in the US, Sujeet Indap asks Alistair Gray, US financial correspondent, what the squeeze on interest rates means…
Women in finance, misconduct penalties and Italian banks
Mar 22, 2016 • 16 min
Patrick Jenkins and guests discuss the latest UK report on women in finance, led by Jayne-Anne Gadhia, head of Virgin Money, the outlook for misconduct penalties, and why Italian banks are viewed so bearishly by investors. See acast.com/privacy for…
Bangladesh cyber attack, pressure on costs and a Bloomberg competitor
Mar 15, 2016 • 16 min
Patrick Jenkins and guests discuss a cyber attack on the Bangladesh central bank and growing pressure on banks to cut costs and Ben McLannahan interviews the head of Bloomberg competitor Money.Net See acast.com/privacy for privacy and opt-out information.
An ethical review, European investment banks shrink and the oil threat to US banks
Mar 9, 2016 • 12 min
Patrick Jenkins and guests discuss ethics in banking as the UK Banking Standards Board launches its first review, the dire state of Europe’s investment banks versus their US peers, and how the oil slump is threatening US bank profits and the wider…
Proposed LSE merger with Deutsche Börse, Barclays losses, RBS, Lloyds results
Mar 1, 2016 • 10 min
Patrick Jenkins and guests discuss the proposed merger between the London Stock Exchange and Deutsche Börse and what that might mean for banks in the City of London, widening losses at Barclays, and last week’s RBS and Lloyds results. See…
Brexit’s impact on banks and US sub-prime lending
Feb 23, 2016 • 21 min
Martin Arnold looks at the contrasting fortunes of Standard Chartered and HSBC. Laura Noonan and Patrick Jenkins discuss the potential impact of Brexit on the City of London with Manus Costello, analyst at Autonomous. In the US, Ben McLannahan talks to…
Anxiety about banks, Citigroup accountability and QE assessed
Feb 16, 2016 • 20 min
Martin Arnold and guests discuss why the banking sector has been gripped by investor anxiety and Citigroup’s attempt to exempt its top London executives from new accountability rules in the UK. Ben McLannahan talks to Johannes Stroebel of the NYU Stern…
Banks in distress, HSBC and punishing financial crisis wrongdoers
Feb 9, 2016 • 18 min
Patrick Jenkins and guests discuss distress across the banking sector, HSBC’s deliberations on where its headquarters should be, and Ben MacLannahan asks Phil Angelides, former head of the financial crisis inquiry commission in the US, about his call for…
Reinventing Banking, UBS results and Fundera
Feb 2, 2016 • 17 min
Patrick Jenkins discusses the culture of banks and what UBS’s quarterly results say about volatility in the banking system with Laura Noonan and Jessica Ground of Schroders, and Ben McLannahan talks to Jared Hecht, head of the New York-based online…
Interview with new FCA head Andrew Bailey, plus US and European bank results
Jan 26, 2016 • 15 min
Patrick Jenkins and the FT banking team interview Andrew Bailey just ahead of his appointment as the new head of the UK’s Financial Conduct Authority, look ahead to the European banks’ upcoming results on the heels of early bad news from Deutsche Bank,…
Bonuses, bond market jitters and US quarterly results
Jan 19, 2016 • 13 min
Patrick Jenkins and colleagues discuss the latest trends in bankers’ bonuses, jitters in bank bond makets and a review of quarterly bank results in the US. This week’s special guest is Philippe Bodereau, a portfolio manager at Pimco. See acast.com/privacy…
Controversy over dropped UK bank culture review, Unicredit, and ‘robo-advice’
Jan 12, 2016 • 20 min
Patrick Jenkins and guests discuss the controversy over the UK regulator’s decision to drop a review into bank culture, with special guest, the Labour MP and Treasury select committee member John Mann, and how difficulties at Unicredit, Italy’s biggest…
Bailing in bondholders, tech sector competition and an easier UK regulatory climate
Jan 5, 2016 • 14 min
Patrick Jenkins and guests look at the big themes of the coming year, from the latest EU plan to bail in banks’ bondholders, to how banks are tackling competition from the technology sector and how the regulatory climate is easing in the UK See…
A review of the year in banking
Dec 15, 2015 • 12 min
Patrick Jenkins and guests review the year in banking, discussing the softening of the regulatory climate, the privatisation drive and leadership changes in European banks and the moment when the industry began to take fintech seriously. See…
Innovation in UK SME lending and problems at Credit Suisse and Morgan Stanley
Dec 8, 2015 • 13 min
Patrick Jenkins and guests discuss innovation in SME lending in the UK and US accusations that Credit Suisse misled investors, and Ben McLannahan discusses the failings of Morgan Stanley’s fixed income business with CLSA bank analyst Mike Mayo. See…
UK stress test results, Brazil’s BTG Pactual and US online lenders
Dec 1, 2015 • 18 min
Patrick Jenkins and guests discuss the Bank of England’s latest stress test results, the crisis at Brazil’s BTG Pactual after the arrest of its chief executive and the health of online lenders in the US. See acast.com/privacy for privacy and opt-out…
Trading capital rules and the expansion plans of Spain’s BBVA and Japan’s MUFG
Nov 24, 2015 • 13 min
Patrick Jenkins and guests discuss new trading capital rules and Spanish bank BBVA’s entry into the UK market, and Ben McLannahan interviews the head of the US investment banking arm of the Japanese lender MUFG about its expansion plans in the US. See…
Nationwide’s chief executive, the upheaval in bank research and Applepay
Nov 17, 2015 • 20 min
Patrick Jenkins talks to David Roberts, Nationwide chairman, about the UK building society’s choice of Joe Garner as chief executive, and discusses the upheaval in bank research and the next phase of Applepay’s payments technology with colleagues Martin…
Can challengers disrupt the big banks?
Nov 12, 2015 • 13 min
Since the financial crisis new lenders have stepped in to provide businesses with funding once provided by the big banks.Can the challengers disrupt the dominance of the incumbents? Emma Dunkley puts the question to Paul Lynam, chief executive of Secure…
City UK, bank capital rules and Goldman Sachs hiring practices
Nov 10, 2015 • 14 min
Patrick Jenkins and guests discuss the lobby group City UK’s agenda for making London more competitive, the Financial Stability Board’s latest bank capital measure and a change in hiring practices by Goldman Sachs. See acast.com/privacy for privacy and…
Fixing the eurozone, digital currencies and peer to peer lending
Nov 4, 2015 • 13 min
Patrick Jenkins and Martin Arnold discuss the highlights of this week’s FT banking summit in London, including reflections by Yanis Varoufakis, former Greek finance minister, on how to fix the eurozone, a prediction on the future of digital currencies and…
How vulnerable are banks to technological change and the oil slump?
Oct 27, 2015 • 17 min
Martin Arnold and guests discuss the shortage of tech experts on bank boards, Deutsche Bank’s IT overhaul, RBS’s decision to adopt Facebook at Work and the industry’s exposure to the oil and gas slump. See acast.com/privacy for privacy and opt-out…
US third quarter earnings, Deutsche Bank shake-up and a Visa windfall
Oct 20, 2015 • 9 min
Patrick Jenkins and guests discuss the third quarter earnings of US banks, Deutsche Bank’s management clear-out, and what the planned combination of Visa and Visa Europe means for the banks that use them. See acast.com/privacy for privacy and opt-out…
Barclays picks Staley, UK ringfencing and Credit Suisse
Oct 13, 2015 • 16 min
Patrick Jenkins and guests discuss Barclays’ choice of new chief executive, whether the UK regulator is watering down the idea of ringfencing, and Credit Suisse’s preparations to raise capital. See acast.com/privacy for privacy and opt-out information.
Europe’s capital markets union, Lloyds selloff and capitalised bank subsidiaries in India and the UK
Oct 6, 2015 • 16 min
Martin Arnold and guests discuss the European Commission plan to create a capital markets Union to make it easier for businesses to access financial markets, why some countries, including the UK and India, are pushing foreign banks to set up separately…
UK mortgage market, Barclays Qatar probe and US bank CEOs
Sep 29, 2015 • 12 min
Patrick Jenkins and guests discuss UK mortgage data and whether it has returned to danger territory, the latest on the Barclays Qatar probe and US bank CEO news. See acast.com/privacy for privacy and opt-out information.
Standard Chartered, Santander and UK ringfencing rules
Sep 22, 2015 • 14 min
Patrick Jenkins and guests discuss allegations concerning Standard Chartered’s Iranian business, the UK’s final rules on ringfencing and their knock-on effect on dividends, and Santander’s new strategic plan. See acast.com/privacy for privacy and opt-out…
Basel III compliance, Deutsche Bank and Portugal’s Novo Banco
Sep 15, 2015 • 19 min
Patrick Jenkins and guests discuss the latest evidence on Basel III compliance among the world banks, Deutsche Bank’s woes and the fate of Portugal’s Novo Banco. See acast.com/privacy for privacy and opt-out information.
Forecasting the impact of the UK’s new bank tax, Paul Taubman’s boutique set to float, and should US banks split chairman and CEO roles?
Sep 8, 2015 • 14 min
Patrick Jenkins and guests discuss the UK’s new bank tax and whether the government got the numbers wrong, Brian Moynihan’s bid to stay on as both chairman and CEO of Bank of America, and boutique investment bank PJT Partners which is set to float less…
Non-performing loans in China, investment bank landscape and Portugal’s Novo Banco
Sep 1, 2015 • 15 min
Patrick Jenkins and guests discuss the surge in non-performing loans in the Chinese banking sector, a new landscape for investment banking and fresh developments in the takeover battle for Portugal’s Novo Banco. See acast.com/privacy for privacy and…
First Libor conviction, Greek banks and RBS share sale
Aug 4, 2015 • 15 min
Martin Arnold and guests discuss the conviction of former star trader Tom Hayes in the global scandal over the manipulation of benchmark interest rates, how shares in Greek banks have plummeted since the country’s stock markets reopened, and the sale of…
China stock market turmoil, results from Credit Suisse and Lloyds
Jul 28, 2015 • 17 min
Martin Arnold and guests discuss the recent stock market turmoil in China, whether this week’s results show that Credit Suisse may be closing the gap with its rival UBS, and how Lloyds and RBS are placed as the government prepares to sell off more shares…
Cost cutting at Standard Chartered and Barclays, US bank results, and a UK regulator departs
Jul 21, 2015 • 14 min
Patrick Jenkins and guests discuss cost cutting at Standard Chartered and Barclays, US bank results and Fed capital buffer rules, and relief in the City of London over Martin Wheatley’s departure. See acast.com/privacy for privacy and opt-out information.
The removal of Antony Jenkins at Barclays, Greek banks and JPMorgan results
Jul 14, 2015 • 11 min
Patrick Jenkins and guests discuss the removal of Antony Jenkins as chief executive of Barclays, what the latest developments in Greece mean for the country’s banks and what JPMorgan results tell us about the outlook for Wall Street banks. See…
Greek banks, the UK Budget and bankers’ pay
Jul 7, 2015 • 16 min
Patrick Jenkins and guests discuss whether Greek banks can survive the current turmoil, what’s in the UK budget and whether global bankers’ pay is getting back to pre-crisis levels. See acast.com/privacy for privacy and opt-out information.
Greek default, Deutschebank and Credit Suisse
Jun 30, 2015 • 15 min
Martin Arnold and guests discuss the potential impact of a Greek default , the German regulator’s scathing report on Deutschebank’s involvement in the libor scandal, and what Tidjane Thiam’s arrival as chief executive means for Credit Suisse. See…
Greek banks, RBS privatisation and Goldman Sachs’s direct lending
Jun 23, 2015 • 15 min
Patrick Jenkins and guests discuss rising tensions in Greece, Royal Bank of Scotland’s preparations for re-privatisation with special guest Sir Philip Hampton, RBS’s outgoing chairman, and Goldman Sachs’s decision to start direct lending. See…
Greek banks, liquidity rules and bank rebranding
Jun 16, 2015 • 16 min
Patrick Jenkins and guests discuss whether bank rebranding works as HSBC considers reviving its Midland brand, the state of Greek banks as tensions rise between Greece and its creditors, and liquidity rules and pending problems in the markets. See…
Deutsche Bank, HSBC and the UK’s financial regulation review
Jun 9, 2015 • 14 min
Martin Arnold and guests discuss Deutsche Bank’s announcement that it is changing chief executives, HSBC’s new strategic plan and the UK’s Fair and Effective Markets Review, the government’s attempt to clean up fixed income markets. See acast.com/privacy…
China moves into European banks, Lloyds share sale, and non-banks in the US mortgage market
Jun 2, 2015 • 16 min
Patrick Jenkins and guests discuss China’s incursion into financial services in Europe, the UK government’s plan to sell off its stake in Lloyds and RBS, and the US mortgage markets as non-bank lenders go into the ascendancy. See acast.com/privacy for…
Record fine for Keydata, the debate over ringfencing, and Monte dei Paschi rights issue
May 27, 2015 • 24 min
Deputy head of Lex Oliver Ralph and guests discuss the £75m fine for Keydata over mis-selling of investment products, the ongoing debate over ringfencing banks’ retail and investment units, and the attempts of Italian bank Monte dei Paschi di Siena to…
Shadow bank risks, Brexit planning and Zopa’s Metro Bank alliance
May 19, 2015 • 13 min
Patrick Jenkins and guests discuss the open letter from financial chiefs warning policy makers of the threat from shadow banking, Deutsche Bank’s contingency planning for Brexit, and Zopa’s alliance with Metro Bank. See acast.com/privacy for privacy and…
The forex scandal, UK election results and women in the City
May 12, 2015 • 14 min
Patrick Jenkins and guests discuss the latest forex scandal as banks prepare to settle a round of litigation, what the UK election result means for banks and women’s advancement in the City of London. See acast.com/privacy for privacy and opt-out…
HSBC and UBS results and a UK supreme court hearing on bonus tax payments
May 5, 2015 • 12 min
Patrick Jenkins is joined by Martin Arnold, Emma Dunkley, Vanessa Houlder and Kinner Lakhani from Citigroup to discuss first quarter results from HSBC and UBS, and a supreme court hearing on some legacy tax payments on bonuses. See acast.com/privacy for…
‘Golden parachutes’ under attack, Deutsche Bank strategy and will HSBC move its HQ?
Apr 28, 2015 • 16 min
Patrick Jenkins and guests discuss “golden parachutes” as Citigroup comes under attack from investors, Deutsche Bank’s strategy plan and results and HSBC’s announcement that it is considering moving its domicile away from the UK. See acast.com/privacy for…
Bumper US bank results, Deutsche Bank’s strategic review and HSBC’s AGM
Apr 21, 2015 • 15 min
Patrick Jenkins and guests discuss first quarter results as bumper numbers from the US banks set the tone for the rest of the world, Deutsche Bank’s upcoming strategic review and libor settlement, and Friday’s HSBC annual general meeting. See…
JP Morgan results, GE Capital sell-off and Arlette Ricci’s tax evasion conviction
Apr 14, 2015 • 15 min
Patrick Jenkins and guests discuss what JP Morgan’s first quarter results tell us to expect about further results across Wall Street, the shrinking of GE capital, the financial division of General Electric, and the first conviction for tax evasion…
Deferred tax assets, UK bonuses and another UK lender floats
Apr 7, 2015 • 12 min
Patrick Jenkins is joined by Laura Noonan, Emma Dunkley and Christian Oliver to look at the row over deferred tax assets that is brewing in Europe, falling UK bank bonuses and the flotation of another UK small business lender Shawbrook. See…
BoE stress tests, the universal banking model and investment bank results
Mar 31, 2015 • 14 min
Martin Arnold discusses the Bank of England’s new stress tests scenario, whether the universal banking model is dead, and investment banks’ strong first quarter results, with Laura Noonan, Caroline Binham, Oliver Ralph and Rob Smith, banking risk director…
Bank of America faces shareholder pressure, UK payments regulator and living wills
Mar 24, 2015 • 15 min
Patrick Jenkins is joined by Martin Arnold, Caroline Binham and Bartlett Naylor of the consumer advocacy group Public Citizen, to discuss the Bank of America as it comes under sustained pressure to change the way it manages itself, the new UK payments…
US stress tests, Sabadell’s TSB bid and the FCA’s new head
Mar 17, 2015 • 17 min
Patrick Jenkins and colleagues discuss why two European banks failed the US stress tests, the planned acquisition of TSB in the UK by Spain’s Sabadell and new City watchdog chief Tracey McDermott’s debut interview with the FT. They are joined by Andrew…
Change at Credit Suisse, Commerzbank fine and Aldermore flotation
Mar 10, 2015 • 10 min
Patrick Jenkins is joined by Martin Arnold and Emma Dunkley to discuss the decision to appoint insurance executive Tidjane Thiam as the new head of Credit Suisse, the conduct fine against Germany’s Commerzbank, and the flotation of UK small business…
Bankers’ pay, the Lloyds dividend and US stress tests
Mar 3, 2015 • 14 min
Patrick Jenkins is joined by Martin Arnold, Emma Dunkley, Laura Noonan and Tom Gosling of PwC to talk about what the European banking authority is saying about allowances at a time when bank bosses seem to be more inclined to take their bonuses, Lloyds…
Greek bank solvency, UK regulation of managers and HSBC troubles
Feb 24, 2015 • 12 min
Patrick Jenkins is joined by Daniele Nouy, head of the ECB’s supervisory wing, as well as Caroline Binham and Martin Arnold to discuss the ECB’s views of the Greek banking system, the UK ‘s new plans for regulating senior managers and the continuing…
HSBC damage, the future of asset manager pay and Caixabank’s Portuguese takeover
Feb 17, 2015 • 16 min
Patrick Jenkins is joined by Martin Arnold, Caroline Binham, Harriet Agnew, Laura Noonan and William Wright, founder and managing director of think tank New Financial, to discuss HSBC and the damage caused by the latest Swiss private banking scandal,…
HSBC revelations, UBS results and trouble at Austria’s Raiffeisen
Feb 10, 2015 • 14 min
Patrick Jenkins is joined by Martin Arnold, Laura Noonan and George Dallas, policy director of the International Corporate Governance Network, to discuss the revelations about HSBC’s private banking operation in Switzerland, UBS’s mixed results and…
Democratising finance, Greece’s new government and European structural reforms
Feb 3, 2015 • 15 min
Patrick Jenkins is joined by Martin Arnold, Emma Dunkley and David Parker, managing director in the financial services practice at Accenture to discuss the democratisation of finance, the impact of the new Greek government on the country’s banking sector,…
The ECB move on QE, reflections on Davos and peer to peer lending
Jan 27, 2015 • 10 min
Patrick Jenkins is joined by Martin Arnold, Emma Dunkley, Robbin Wigglewsorth and James Chappell, banks analyst ar Berenberg, to discuss QE and whether it will be transmitted into the European economy as policymakers hope, a reflection on Davos and…
The Davos agenda, US banks and legal charges, and sexism in the City
Jan 20, 2015 • 11 min
Patrick Jenkins is joined by Martin Arnold, Oliver Ralph and Harriet Agnew to discuss the Davos agenda, US banks and legal charges, and why the City of London is so bad at hiring top women. See acast.com/privacy for privacy and opt-out information.
Santander’s capital raising, the launch of WeBank and prospects for bonuses
Jan 12, 2015 • 14 min
Patrick Jenkins is joined by Martin Arnold, Gabriel Wildau and Daragh Quinn, an analyst at Nomura, to discuss Banco Santander’s successful capital raising, WeBank, the latest Chinese new banking launch, and the gloomy prospects for bonuses on Wall Street…
New rules on ringfencing, the falling oil price and payday lenders
Jan 5, 2015 • 14 min
Patrick Jenkins and guests discuss the way UK banks are adapting to new rules on ringfencing, how exposed global banks are to the falling oil price, and the effect of the lending cap on UK payday lenders. He is joined by the FT’s Martin Arnold, Emma…
Looking ahead to 2015
Dec 15, 2014 • 11 min
Patrick Jenkins is joined by Martin Arnold, Sam Fleming and Emma Dunkley to discuss their predictions for 2015: changes at the top of the world’s biggest banks, regulators’ shift in focus from bonuses to fixed pay, digitisation of challenger banks and…
Has structural reform in European banking stalled?
Dec 8, 2014 • 17 min
Patrick Jenkins is joined by Martin Arnold, Emma Dunkley and Marco Mazzucchelli, a former member of the Liikanen commission on European structural change in banking, to discuss the European Commission’s apparent move to row back on its recommendations,…
Spat over the senior manager’s regime, Nationwide results and the FT’s banking summit
Dec 1, 2014 • 20 min
Patrick Jenkins discusses the latest spat between the UK Treasury select committee and banks over the senior managers regime, Nationwide results, and the FT’s debut banking summit with Martin Arnold, Sam Fleming and Emma Dunkley, and they are joined by…
UK admits defeat on bonus cap, insider trading probe at BNP Paribas and a torrid week for RBS
Nov 24, 2014 • 10 min
Patrick Jenkins is joined by Sam Fleming, Emma Dunkley and Michael Stothard to discuss the UK decision to drop its challenge to the EU bonus cap, the latest developments at BNP Paribas, where top executives are being investigated for alleged insider…
Forex reform, Standard Chartered woos investors and Mark Carney on bankers’ pay
Nov 17, 2014 • 19 min
Patrick Jenkins in joined by Daniel Schäfer, Sam Fleming, Emma Dunkley and Marshall Bailey from the ACI, the association that represents the foreign exchange industry, to discuss how to reform the industry in the wake of the recent trading scandal,…
The UK’s big EU question, news from Basel on capital requirements, and fines loom for market manipulation
Nov 10, 2014 • 14 min
Patrick Jenkins is joined by Lord Green to discuss what the question of the UK’s continued membership of the EU means for London’s financial sector. Also on the show this week Sam Fleming reports from Basel on the latest proposals for banks’ capital from…
Provisioning, capital build-up, and pressure on Standard Chartered management
Nov 3, 2014 • 9 min
Patrick Jenkins is joined by Martin Arnold and Sam Fleming to discuss provisioning from banks over the foreign exchange scandal, developments in the building up of bank capital as regulators move the goal posts, and the mounting pressure on Standard…
ECB stress tests and more cuts at Credit Suisse and in UK retail banking
Oct 27, 2014 • 14 min
Martin Arnold is joined by Daniel Schäfer, Emma Dunkley and Sam Fleming, as well as Kinner Lakhani of Citigroup to discuss whether the European Central Bank’s asset quality review and stress tests have cleansed the continent’s banking system of its…
Bankers pay, US bank results and peer-to-peer lenders move mainstream
Oct 20, 2014 • 21 min
Patrick Jenkins is joined by Martin Arnold, Daniel Schäfer, Sam Fleming and Emma Dunkley, as well as Andrea Enria, chairman of the European Banking Authority, to discuss bank remuneration as the battle intensifies between Europe and the UK, US bank…
IMF meetings, Deutsche Bank exodus and Aldermore flotation
Oct 13, 2014 • 11 min
Patrick Jenkins is joined by Sam Fleming, Daniel Schäfer and Emma Dunkley to discuss what came out of last week’s IMF meeting in Washington, the exodus of traders from Deutsche Bank, and signs that the flotation of Aldermore, a newish bank may be in…
Cyber crime, new bank regulatory rules and payday lending
Oct 6, 2014 • 18 min
Patrick Jenkins is joined by Martin Arnold, Sam Fleming, Alistair Gray and Emma Dunkley, as well as James Daley, from the consumer rights body Fairer Finance to discuss cyber crime and the latest hit to JPMorgan in the US, the Bank of England’s new…
Bankers’ pay, the forex trading scandal and KPMG’s subsidised mortgage deal
Sep 29, 2014 • 13 min
Patrick Jenkins is joined by Sam Fleming, Emma Dunkley and Harriet Agnew, as well as Clifford Chance’s Simon Gleeson to discuss bankers pay, the latest on the foreign exchange trading scandal and KPMG’s innovative deal to subsidise mortgages for its staff…
ECB TLTRO auction, Scotland’s No vote and the foreign exchange trading probe
Sep 22, 2014 • 13 min
Patrick Jenkins is joined by Martin Arnold, Sam Fleming and Daniel Schäfer, as well as Huw van Steenis of Morgan Stanley, to discuss the ECB’s latest policy initiatives as the first figures emerge in the so-called TLTRO auction of cheap money, the impact…
Replacement of Barclays chairman, Scottish independence debate and new Santander chief
Sep 15, 2014 • 17 min
Patrick Jenkins is joined by Martin Arnold, banking editor and Sam Fleming, financial policy correspondent, as well as Tobias Buck, Madrid bureau chief and Simon Hayes, partner at Odgers Berntson, to discuss the appointment of John McFarlane as Barclays…
ECB initiatives to boost bank lending, Brussels disquiet over bankers’ allowances and nervousness ahead of the Scottish referendum
Sep 8, 2014 • 15 min
Patrick Jenkins is joined by Richard Hopkin from the Association for Financial Markets in Europe and Sam Fleming to discuss the latest European Central Bank policy initiatives to boost bank lending. Daniel Schäfer looks at unease in Brussels over the way…
Lloyds’ Libor fine, Deutsche’s letter from the Fed and the rise of independent boutiques
Jul 28, 2014 • 15 min
Martin Arnold is joined by Sharlene Goff for news that Lloyds has been fined £226m for its part in the Libor manipulation scandal. Included in this was £8m for attempts to reduce the amount it paid back to British taxpayers following its government…
Can G20 leaders tackle the problem of too-big-to-fail banks?
Jul 21, 2014 • 12 min
Patrick Jenkins is joined by Sam Fleming to discuss whether world leaders will be able to agree measures to solve the problem of “too big to fail” banks when the G20 meets later this year in Brisbane. Martin Arnold has news of US banks’ second quarter…
Competition in British retail banks, developments in the Forex scandal and the troubles of Banco Espirito Santo
Jul 14, 2014 • 15 min
With the new Competition and Markets Authority expected to beguin an investigation into the competitiveness of Britain’s retail banking sector, Richard Lloyd, executive director of consumer body Which?, joins Patrick Jenkins to discuss the areas that…
European banks’ ‘investability’, UK banks’ scare tactics and banking in Iraq
Jul 7, 2014 • 17 min
Citi banks analyst Ronit Ghose joins the banking team to discuss the “investability” of European banks in light of the recent fine on BNP Paribas. Also on the show: How UK banks have been scaring customers unnecessarily with legal letters, and how western…
BNP fined, BIS on central banks, and Wonga’s imaginary law firms
Jun 30, 2014 • 10 min
Patrick Jenkins is joined by Martin Arnold, banking editor, for news on BNP Paribas, which has agreed to a fine of 8.9bn for dodgy dollar dealing. The French bank also has six months to prepare for a 12 month ban on dollar trading. Also on the agenda this…
TSB floats, further forex reforms and tumult at Banco Espírito Santo
Jun 23, 2014 • 18 min
The banking team look TSB, Britain’s seventh-biggest lender, as it floats on the London Stock Exchange, further reforms in foreign exchange trading as big banks move to automate processes to save money and miminise the risk of market manipulation and then…
Shadow banking, payday lenders, and the return of the CDS
Jun 16, 2014 • 16 min
Patrick Jenkins is joined on the line by Jamil Anderlini, Beijing bureau chief, for news of the Chinese shadow banking sector, marking the start of a week-long FT series on shadow banking across the globe. Daniel Schäfer looks at credit default swaps,…
BoE risk report, TSB IPO hit by subdued market, and more on the embattled BNP Paribas
Jun 9, 2014 • 11 min
Patrick Jenkins is joined by Sam Fleming for news of the Bank of England’s latest systemic risk report. The results showed growing concerns among bankers over geopolitcs but confidence in dealing with any forthcoming property crash. Martin Arnold has the…
ECB monetary loosening, growing competition for UK deposits, and outrage in France over BNP Paribas fine
Jun 2, 2014 • 12 min
How the European Central Bank’s monetary loosening policy might affect the continent’s banking sector, the increasing competition for UK retail depositors’ money from new challengers, and the growing political outrage in France over a $10bn fine imposed…
Qatari money for Deutsche rights issue, Credit Suisse close to tax avoidance plea and new standards council for UK banks
May 19, 2014 • 12 min
Patrick Jenkins is joined by Daniel Schäfer, investment banking correspondent, for news of Deutsche Bank, whose new €8bn rights issue is set to include €1.75bn from the Qatari royal family in a move that goes against co-CEO Anshu Jain’s stated aim of…
Barclays investigated over Qatari cash call, StanChart protest vote and Basel Committee on interest rate risks
May 12, 2014 • 11 min
Martin Arnold is joined by Daniel Schäfer for the latest at Barclays, which has shifted £400bn of assets out of its investment arm, and has come under scrutiny from the UK Serious Fraud Office over a 2008 cash call that saw Qatari investors paid fees…
The vexed topic of pay, Deutsche Bank’s capital shortfall and more bad news for the Co-op
Apr 27, 2014 • 14 min
This week, Patrick Jenkins and the banking team discuss the vexed issue of pay at RBS and Barclays, as RBS has its bonuses blocked at twice the level of salary by George Osborne, and Barclays gets criticised by angry shareholders at a recent AGM. Daniel…
The vexed topic of pay, Deutsche Bank’s capital shortfall and more bad news for the Co-op
Apr 27, 2014 • 14 min
This week, Patrick Jenkins and the banking team discuss the vexed issue of pay at RBS and Barclays, as RBS has its bonuses blocked at twice the level of salary by George Osborne, and Barclays gets criticised by angry shareholders at a recent AGM. Daniel…
Facebook looks at financial services, bankers dodge bonus cap and Co-op Bank faces new crises
Apr 13, 2014 • 16 min
Martin Arnold is joined by Sally Davies, technology reporter, to discuss Facebook’s interest in financial services, as the social media giant outlines plans to provide remittances and electronic money. Daniel Schäfer explores the different ways in which…
BlackRock plan for Larry Fink’s departure, asset managers under scrutiny and Q1 results for the big banks
Apr 7, 2014 • 19 min
Martin Arnold is joined from Hong Kong by Henny Sender, chief international finance correspondent, for an inside look at BlackRock, where plans for Larry Fink’s succession are picking up speed. Sam Fleming has news that the Financial Stability Board is…
US stress test results are in, FCA steps up scrutiny in new business plan, and major staff changes at UK state-owned banks
Mar 31, 2014 • 21 min
Patrick Jenkins is joined by Martin Arnold for the fallout from US stress tests, where CitiGroup failed qualitative elements of the tests, putting CEO Michael Corbat under increased pressure. Six foreign-owned US banks also failed some elements, including…
US stress test results are in, FCA steps up scrutiny in new business plan, and major staff changes at UK state-owned banks
Mar 31, 2014 • 21 min
Patrick Jenkins is joined by Martin Arnold for the fallout from US stress tests, where CitiGroup failed qualitative elements of the tests, putting CEO Michael Corbat under increased pressure. Six foreign-owned US banks also failed some elements, including…
Return of the covenant light loan, BNP Paribas boss interviewed, Russian ramifications and more Co-op chaos
Mar 24, 2014 • 18 min
Patrick Jenkins is joined by Anne-Sylvaine Chassany, private equity correspondent, for a look at how debt investors are abandoning normal creditor protections and snapping up riskier “cov-lite” loans at a faster rate and in greater proportions than at the…
Russian repatriation, banks hold back forex bonuses, and UniCredit puts Pioneer Investments back on sale
Mar 17, 2014 • 18 min
As Russian banks and corporations begin to make alternative plans in anticipation of asset freezes in the US and Europe, Patrick Jenkins is joined by Martin Arnold, Daniel Schäfer, Sharlene Goff and Neil Buckley, east europe editor, to discuss the ripples…
Forex fines, exec pay at the Co-op Bank, and pressure easing on Greece
Mar 10, 2014 • 14 min
Patrick Jenkins is joined by Sam Fleming, Daniel Schäfer, Sharlene Goff and Martin Arnold to discuss the latest on the Forex scandal, as estimates of the total amount of fines begin to circulate, ranging from $5-30bn. They also look at executive pay at…
Rouble rocked, restructuring at RBS, and bonus deferrals
Mar 3, 2014 • 15 min
The banking team has the latest on Russia where the central bank hiked interest rates in response to falls in the Rouble and the stock market amid fears of international sanctions against the country. Also on this week’s show is un update on restructuring…
Two UK banks’ diverging fortunes, the latest EU-Greece banking spat, and US holding company requirements for foreign banks
Feb 24, 2014 • 19 min
The banking team discusses the varying fortunes of HSBC and RBS, the latest spat between the EU and Greece over the treatment of the Greek banking system, and Deutsche Bank reveals some details about how it will cope with the new obligation for foreign…
Double standards at Barclays, Forex furore, and Lloyds cry foul at ringfencing
Feb 17, 2014 • 12 min
Martin Arnold, banking editor, is joined by Sharlene Goff to dissect diverging fortunes of Barclays and its staff, where pay has far oustripped performance. Daniel Schäfer has new insight into the methods used by traders at banks embroiled in the Forex…
Barclays breach, warning for weak banks, and China’s squeeze goes overseas
Feb 10, 2014 • 13 min
Sharlene Goff has the latest on leaks and breaches at Barclays, as the bank loses 27,000 customers’ data, and 2013 profits emerge a day early. Sam Fleming reports that Daniele Nouy, the new head of the Single Supervisory Mechanism, will let weak Eurozone…
European stress tests, inside track on Liikanen, plus BoA and Lloyds payouts
Feb 3, 2014 • 17 min
The banking team is joined by former Liikanen committee member Marco Mazzucchelli to discuss the latest on structural reform to European banks, and Sam Fleming explains the scenarios set out by the European Banking Authority for its upcoming stress tests.…
Davos dissected, bonds as bonuses, Lloyds IT failings, and what next for Carney’s forward guidance?
Jan 27, 2014 • 13 min
The banking team dissects Davos, including Mark Carney’s about turn on forward guidance, discusses Credit Suisse’s move to offer a wipeout bond as a bonus, and questions British banks’ IT systems as Lloyds falls victim to the latest failure See…
Deutsche profit warning, Labour vs the banks, and Davos previewed
Jan 20, 2014 • 11 min
Patrick Jenkins, financial editor, is joined by Daniel Schäfer for news of the challenges facing Deutsche Bank in 2014, where weak fixed income trading and high litigation costs have brought about a substantial profit warning. Sharlene Goff outlines Ed…
Basel III concessions, turmoil at Standard Chartered and US bank results
Jan 13, 2014 • 9 min
Patrick Jenkins is joined by Sam Fleming for news that banks have won concessions on Basel III debt rules. Sharlene Goff makes sense of the departures at Stan Chart as share prices falter, and Daniel Schäfer looks at the US banks suffering reduced profits…
Europe eases pressure on bank splits, bonus cap comes into force, EBA to stress test banks
Jan 6, 2014 • 14 min
In the first podcast of 2014 the banking team looks ahead to the introduction of the new bonus cap, continued fallout from scandals and new regulatory measures on either side of the Atlantic. Patrick Jenkins is joined by Alex Barker, EU correspondent, for…
Volcker Rule impacts, fines for RBS and Lloyds, and Ireland’s bailout exit
Dec 16, 2013 • 11 min
Patrick Jenkins is joined by Daniel Schafer and Sam Fleming to discuss how the Volcker Rule could impact upon banks either side of the Atlantic. Sharlene Goff has news of the latest fines for part-nationalised banks RBS and Lloyds, and looks at how…
HSBC considers spinning off its UK business, JPMorgan and Citigroup fined over Yen Libor and Bob Diamond pops up in Africa
Dec 9, 2013 • 9 min
In this week’s podcast, the banking team discuss HSBC sounding out investors over the idea of floating its UK operations. They take a look at the latest on the rate fixing scandal, as JPMorgan and Citigroup are fined for their involvement in the…
Funding for Lending, new chair at Lloyds and bankers’ bonuses
Dec 2, 2013 • 0 min
Sharlene Goff is joined by Sam Fleming to dissect the latest figures on the Funding for Lending scheme, where cumulative net lending has risen to £3.6bn. Daniel Schäfer has details of Lord Blackwell’s appointment as chairman of Lloyds, plus full year 2012…
RBS and SMEs, negative interest rates and JPMorgan at Buckingham Palace
Nov 25, 2013 • 12 min
Patrick Jenkins is joined by Sharlene Goff to discuss RBS’ attitudes towards small businesses, including allegations that the bank has run SMEs into the ground for its own gain. Financial regulation correspondent Sam Fleming looks at the Fed’s stance on…
RBS and SMEs, negative interest rates and JPMorgan at Buckingham Palace
Nov 25, 2013 • 12 min
Patrick Jenkins is joined by Sharlene Goff to discuss RBS’ attitudes towards small businesses, including allegations that the bank has run SMEs into the ground for its own gain. Financial regulation correspondent Sam Fleming looks at the Fed’s stance on…
European Banking Authority chair interview, former Co-op Bank chair in drugs admission and Rothschild to open London merchant bank
Nov 18, 2013 • 11 min
Patrick Jenkins is joined by Sam Fleming to discuss comments from Andrea Enria, chair of the European Banking Authority, on the region’s banking sector. Sharlene Goff has the remarkable story of the former Co-op bank chair caught allegedly buying drugs…
European Banking Authority chair interview, former Co-op Bank chair in drugs admission and Rothschild to open London merchant bank
Nov 18, 2013 • 11 min
Patrick Jenkins is joined by Sam Fleming to discuss comments from Andrea Enria, chair of the European Banking Authority, on the region’s banking sector. Sharlene Goff has the remarkable story of the former Co-op bank chair caught allegedly buying drugs…
Banking Weekly: RBS, strong results for French banks and the latest on the Forex and Euribor scandals
Nov 11, 2013 • 13 min
This week Patrick Jenkins is joined by Sharlene Goff to discuss the latest on the Royal Bank of Scotland, from residential mortgage-backed securities mis-selling to personnel changes and rebranding as restructuring continues. Daniel Schäfer has news of…
Forex manipulation, Swiss banks must boost leverage ratios and Co-op to shrink banking arm
Nov 4, 2013 • 18 min
Patrick Jenkins is joined by Daniel Schäfer to discuss the growing number of banks suspending staff over alleged foreign exchange manipulation and demands from the Swiss Finance Minister that Swiss banks increase their leverage ratios. The banking team…
Banking Weekly: Osborne urged against splitting RBS, Mark Carney’s vision for the BoE, and dodging the EU bonus cap
Oct 28, 2013 • 15 min
This week, Sharlene Goff is joined by Daniel Schaefer to discuss the case against splitting RBS into a good bank and a bad bank, Sam Fleming unpicks Mark Carney’s decision to press ahead with a review of the BoE, and the team sheds light on the range of…
JPMorgan and BofA fines, Co-op Bank restructuring and former UBS head arrested
Oct 21, 2013 • 15 min
The banking team discusses the penalties handed out to JPMorgan and Bank of America for mortgage mis-selling and analyses the tumultuous restructuring of the Co-operative Bank. Guy Dinsmore joins from Rome to shed light on the arrest in Bologna of a…
Lloyds warning on Help to Buy, JPMorgan loss and the Eurozone’s ‘sovereign bank nexus’
Oct 13, 2013 • 14 min
In this week’s podcast Sharlene Goff examines Lloyds’ warning that the Help to Buy scheme will distort the market and cause a new housing bubble, Daniel Schäfer dissects JPMorgan’s first quarterly loss under Jamie Dimon and Patrick Jenkins is joined by…
Help to buy, US hedge funds investing in Greece and French banks’ recovery
Oct 6, 2013 • 12 min
This week Patrick Jenkins and Sharlene Goff are joined by Tanya Powley, personal finance correspondent to discuss help to buy, the latest phase of which begins this week - will this be a boon for first time buyers or will it cause house prices to rise?…
US CDOs sales, Intesa’s CEO quits and the Barclays rights issue
Oct 1, 2013 • 9 min
The banking team, rejoined by companies editor Brooke Masters, discusses the booming US CDO market and the questions it raises for regulators. Patrick Jenkins asks whether the number of banks involved in the Barclays rights issue is a sign of a new age of…
Fallout from no taper, poor Q3 results from investment banks and US money markets’ renewed interest in French banks
Sep 23, 2013 • 0 min
The banking team discusses the latest evidence of poor third-quarter results from investment banks. Sam Jones, hedge fund correspondent, joins the podcast to look at the Fed’s startling decision not to scale back on QE and whether investors should take…
Reactions to Summers’ Fed withdrawal, Danske bank changes chiefs, Barclays’ rights issue, and the Lloyds’ sell-off
Sep 16, 2013 • 12 min
The banking team, joined by Ralph Atkins, capital markets editor, discuss the markets’ reaction to Larry Summers’ decision to withdraw from the race for the Fed chairmanship. Richard Milne, Nordic correspondent, discusses the change at the top of Danske…
Vickers’ call to double capital levels, Credit Suisse’s Dougan interviewed, and TSB sell-off plans
Sep 9, 2013 • 12 min
The banking team looks at Sir John Vickers’ call to double the amount of capital he believes lenders should be required to hold; a preview of a rare interview with Credit Suisse chief executive Brady Dougan, and the efforts of the Lloyds Banking Group to…
JPMorgan’s woes, executive tragedy at Zurich and a loss for the Co-op
Sep 1, 2013 • 13 min
The banking team return from their summer break to examine the regulatory problems at JPMorgan, as US authorities demand the bank pay more than $6bn to settle allegations of mis-selling and a probe is launched into its hiring practices in Asia. James…
Brussels and Monte dei Paschi
Jul 28, 2013 • 13 min
The big week ahead for UK banks, US banks eye the exit from the metal warehousing business and why Brussels is demanding that Monte dei Paschi di Siena be subjected to tougher penalties before it approves the €3.9bn state bailout of Italy’s third-biggest…
Banks rattled by peer-to-peer model?
Jul 21, 2013 • 15 min
This week the banking team discuss Santander UK’s interest in breaking into the rapidly growing peer-to-peer market, Deutsche Bank’s plans to shrink its vast balance sheet in order to comply with stricter rules for financial soundness, and the Abu Dhabi…
A test for Goldman
Jul 14, 2013 • 13 min
This week sees Goldman Sachs’ former employee Fabrice Tourre in court over an alleged derivatives mis-selling scandal and the publication of the bank’s second quarter results. Will either of these events spoil the bank’s attempts to burnish its image?…
A new governor at the Bank of England
Jul 7, 2013 • 14 min
Mark Carney began his new role at the helm of the Bank of England last week. In this week’s podcast, Patrick Jenkins, banking editor, is joined by Chris Giles, economics editor and Brooke Masters, chief regulation correspondent, to review Mr Carney’s…
Infrastructure is key for Kuwaitis
Jun 30, 2013 • 12 min
The Kuwait Investment Authority is planning a $5bn investment in infrastructure assets, mostly in the UK, strategically changing the way they invest. Bank equities, particularly in the West, have become less attractive for this sovereign wealth fund, so…
Leverage, bankers’ pay and Mediobanca’s radical plan
Jun 24, 2013 • 12 min
As UK and Swiss lenders face new demands from central banks to prove their soundness, the banking team look at leverage ratios. They look at bankers’ pay as new research shows that bank chief executives have been paid less generously for the first time in…
Gauging reaction to the Banking Commission report
Jun 19, 2013 • 11 min
The long-awaited independent review into the UK banking sector was published this morning by a British parliamentary commission. The report sets out a blueprint to restore trust in Britain’s banks - recommending more accountability for bank executives,…
The Co-op restructuring plan, Osborne’s Mansion House speech, and Deutsche Bank’s capitalisation
Jun 17, 2013 • 10 min
The banking team discusses the plan to rescue the Co-operative Bank, preview George Osborne’s Mansion House speech, which is likely to include clues about the government’s plans for Lloyds and RBS, and consider the view of a US regulator who described…
Re-privatising Lloyds
Jun 10, 2013 • 15 min
The banking team is joined by George Parker, the FT’s political editor, to examine the prospects of the UK government selling part of its stake in Lloyds, what is expected in the final report from the banking commission and the mooted merger of BNP…
Co-op’s capital deficit
Jun 2, 2013 • 12 min
The options for the UK’s Co-operative bank to increase its capital levels, the latest on the row between Switzerland and the US over bank secrecy and the importance of allegations of money laundering at Liberty Reserve See acast.com/privacy for privacy…
Dimon defends dual role
May 20, 2013 • 11 min
This week the banking team discuss JPMorgan’s annual meeting, where chief executive and chairman Jamie Dimon won a clear victory over shareholder activists looking to strip him of one of his roles. They also look at pay in Europe in light of recent tweaks…
A replacement for Libor
May 12, 2013 • 16 min
This week the banking team discuss the replacement of the scandal-plagued libor benchmark rate, which could happen as early as next year. Camilla Hall reports from Dubai to discuss banking in the Middle East and the US criminal probe into whether Barclays…
Bank regulation disputes and resignations at Santander and UKFI
Apr 28, 2013 • 15 min
This week, the banking team discuss recent transatlantic spats over bank regulation, as Michel Barnier, the EU commissioner in charge of financial services warns the US on bank ‘protectionism’. Miles Johnson, Madrid correspondent looks at the reasons…
The end of an era at Barclays
Apr 21, 2013 • 14 min
This week the banking team discuss the departure of the last two senior executives from the Bob Diamond era at Barclays, as Rich Ricci, head of investment banking and Tom Kalaris, head of wealth management, announce plans to retire. They also review the…
HBOS fallout, the widening rate-rigging scandal and Post Office current accounts
Apr 14, 2013 • 13 min
This week the banking team examine the fallout from the Parliamentary Commission on Banking Standards’ report into HBOS, as former chief executive Sir James Crosby asks for his knighthood to be revoked. They also take a look at the latest developments in…
HBOS and Barclays in the spotlight
Apr 7, 2013 • 11 min
This week the banking team discuss two long-awaited reports published last week: the damning report on HBOS by the Parliamentary Commission on Banking Standards, which accused former executives of presiding over a “colossal failure”, and the Salz review…
Bailout deal reached for Cyprus
Mar 24, 2013 • 13 min
Joshua Chaffin, EU correspondent, joins the podcast from the Cypriot capital Nicosia to discuss the bailout deal that was reached in the early hours of Monday morning, and the mood on the ground in the country. Also up for discussion are the narrowing gap…
Cyprus bailout, the Fed’s stress tests and pay at UBS
Mar 18, 2013 • 13 min
Peter Spiegel, Brussels bureau chief, joins the podcast to discuss the potential fallout from the bailout in Cyprus, which sees bank deposits tapped for the first time. Also under discussion are the results of the second leg of US stress tests, as the Fed…
The UK’s banking commission, pay at Barclays and RBS and US stress tests
Mar 10, 2013 • 15 min
George Parker, political editor, joins FT banking correspondents to discuss the UK parliament’s banking standards commission, which wants tougher legislation for the industry; pay at the top of Barclays and RBS; and stress tests in the US, which…
Results at HSBC, RBS and Lloyds, and EU bonus-cap fallout
Mar 3, 2013 • 11 min
FT banking correspondents discuss the latest round of bank results, with HSBC lifting its dividend by half in the fourth quarter and RBS and Lloyds moving somewhat closer to reprivatisation, as well as looking at the impact of the EU’s move to cap bonuses…
RBS, calculations of risk-weighted assets and threats to the bulge bracket
Feb 24, 2013 • 16 min
The FT’s banking correspondents look at RBS’ plans for a partial float of its US business, Lloyds’ plans to defer its chief’s bonus until 2018, big investment banks losing market share and a regulatory push to limit banks’ scope for discretion in…
Barclays, bank stocks and bonuses
Feb 18, 2013 • 24 min
This week the banking team is joined by David Oakley, investment correspondent, to discuss Barclays’ recent restructuring plans and whether bank stocks can outperform all others in the coming decade. The team also looks at the possibility that the…
UK small banks round on regulations
Feb 10, 2013 • 13 min
This week the banking team look at small UK banks’ claim that a “glass ceiling” hands larger competitors an advantage. Also up for discussion are RBS’ Libor settlement, Barclays’ cost-cutting strategy plan and the latest European bank results See…
Osborne’s reform of banking
Feb 3, 2013 • 25 min
This week: chancellor George Osborne’s warning that banks face break-up if they do not comply with rules designed to make the banking system safer, Barclays’ woes as senior management figures step down and UK authorities probe the bank’s Qatar…
Barclays’ Libor fight, ‘living wills’ and LTRO repayments
Jan 28, 2013 • 13 min
In this week’s podcast FT banking correspondents discuss the naming of some former Barclays chiefs in a Libor court case, the lack of regulatory co-ordination on ‘living wills’ and repayments by European banks of cheap ECB funding See acast.com/privacy…
Wall Street results, PPI claims and property lending
Jan 21, 2013 • 11 min
FT banking correspondents discuss Wall Street banks’ latest results, British lenders’ calling for a deadline for claims over the misselling of Payment Protection Insurance and the effects of a change in capital rules will have on lending to the property…
Taxman set to lose as Goldman considers delaying UK bonuses
Jan 13, 2013 • 12 min
In this week’s podcast the banking team discuss the possibility that Goldman Sachs might delay paying its UK bonuses until the start of the new tax year, when the top rate of income tax drops from 50 to 45 per cent. They also look at RBS considering…
Easing of Basel rules boosts banks
Jan 6, 2013 • 11 min
Why the loosening of the new global liquidity standards has given a lift to European banks, private equity firms take a bet of UK retail banks, and what should be the role of banks in classroom-based financial education? See acast.com/privacy for privacy…
US banks call for an easing of Basel III liquidity requirements
Dec 16, 2012 • 12 min
This week Brooke Masters is joined by US banking editor Tom Braithwaite, James Shotter, Switzerland and Austria correspondent, and insurance correspondent Alistair Gray to talk about the call by US banks for an easing of the Basel III liquidity…
The scramble for settlements
Dec 9, 2012 • 15 min
After Standard Chartered’s announcement that it will pay an additional $330m to resolve investigations into US sanction breaches and a deal expected from UBS in the next few weeks over the Libor scandal, the banking team asks why lenders are rushing to…
A new governor for the Bank of England
Dec 2, 2012 • 13 min
The announcement that Mark Carney will take over as the governor of the Bank of England next year came as a surprise to many. But what does the market think of his appointment and will he change his executive team? Also discussed are the latest…
A new governor for the Bank of England
Dec 2, 2012 • 13 min
The announcement that Mark Carney will take over as the governor of the Bank of England next year came as a surprise to many. But what does the market think of his appointment and will he change his executive team? Also discussed are the latest…
Suitors for RBS
Nov 25, 2012 • 16 min
It’s good news for RBS as private equity groups including AnaCap Financial and JC Flowers join Virgin Money and Nationwide in expressing interest in the lender’s 316 branches, following the collapse of a deal with Santander in October. The banking team…
Clawing back bonuses
Nov 18, 2012 • 13 min
As scandal after scandal hits lenders, the banking team talk about the Financial Services Authority’s warning to banks operating in London that they must reduce bonus payouts. Also under discussion are proposals by the Financial Stability Board to tackle…
Scandals continue to plague banks
Nov 11, 2012 • 14 min
As Goldman Sachs joins a plethora of lenders including HSBC and Barclays that face renewed scrutiny over rule breaches, the banking team talk about the impact of legacy issues on banks. Also under discussion are radical proposals by Hermes to scrape…
When will PPI pain end?
Nov 4, 2012 • 12 min
This week the team discuss payment protection insurance as the bill for mis-selling the product tops £11bn for UK banks. Also under discussion are Sifi surcharges, the amount of extra capital that certain banks need to hold, after the Financial Stability…
When will PPI pain end?
Nov 4, 2012 • 12 min
This week the team discuss payment protection insurance as the bill for mis-selling the product tops £11bn for UK banks. Also under discussion are Sifi surcharges, the amount of extra capital that certain banks need to hold, after the Financial Stability…
Will UBS’s restructuring plans work?
Oct 28, 2012 • 10 min
This week the banking team discuss UBS’s move to split its investment unit and whether other banks will take similar decisive action as they come under regulatory and cost-saving pressures. Also under discussion is Lloyds’ scheme to scrap incentives…
What now for Citigroup?
Oct 21, 2012 • 14 min
Following Vikram Pandit’s surprise resignation from Citigroup, the banking team analyses events leading up to the chief executive’s departure and whether his replacement, Mike Corbat, is what the troubled group needs. Also under discussion are plans by…
Will third-quarter results be a blessing for US banks?
Oct 14, 2012 • 12 min
This week the banking team ask whether strong third-quarter results from JP Morgan and Wells Fargo bode well for other US banks and the implications of the FSA’s decision to loosen capital and liquidity rules for lenders. Alistair Gray, insurance…
UK banks retreat from interest-only mortgages
Oct 7, 2012 • 10 min
This week the team is joined by Elaine Moore, deputy personal finance editor, to discuss Nationwide Building Society’s decision to stop offering interest-only mortgages to new borrowers. Also, what is the significance of plans by James Gorman, Morgan…
Pressure on Spanish banks
Sep 30, 2012 • 12 min
This week the team look at the Spanish banking system, after a recent report into the country’s 14 largest lenders found they could need up to €60bn in new capital. But are recent stress-tests enough to restore confidence? They also discuss JPMorgan’s…
SocGen focuses on Russia and Romania
Sep 23, 2012 • 12 min
This week the Banking team are joined by Paris correspondent Scheherazade Daneshkhu to discuss Société Générale’s plans to boost profits in Russia and Romania by the end of next year. They also look at Standard Chartered’s signing of a $340m settlement to…
China Construction Bank targets Europe
Sep 16, 2012 • 13 min
As Chinese businesses do more deals in Europe, its big banks are starting to look at potential acquisitions in Europe, why former HBOS banker Peter Cummings was singled out personally by the regulator and the trial of the former UBS’s trader Kweku Adoboli…
Restructuring banks, Libor and European banking regulation
Sep 9, 2012 • 14 min
Is there a new round of job cuts looming at Europe’s banks? The FT’s banking team also looks at the latest in the Libor rate fixing scandal and with a month to go until the Liikanen review is due to be completed whether a consensus is emerging that…
A new CEO for Barclays
Sep 2, 2012 • 15 min
This week the banking team discuss the swift appointment of internal candidate Antony Jenkins as the new chief executive of Barclays. Alistair Gray, insurance correspondent joins to talk about RBS floating Direct Line and the team look into the…
What next for Standard Chartered?
Aug 19, 2012 • 15 min
This week the banking team analyse Standard Chartered’s decision to pay a settlement of $340m to a New York regulator related to its handling of payments to Iran. But with other regulators still circling, will the bank face further fines? They also…
StanChart pushes for a settlement
Aug 13, 2012 • 16 min
This week the banking team is joined by Anousha Sakoui, the FT’s M&A correspondent, to discuss the latest developments in the Standard Chartered scandal, as the bank pushes for a settlement against allegations from US regulators that it breached Iranian…
Standard Chartered storm
Aug 6, 2012 • 18 min
This week the banking team discusses the Standard Chartered scandal as New York state’s financial watchdog accuses the bank of hiding $250bn of transactions with Iran. Also under the spotlight are RBS’s latest results and the debate over whether the bank…
Difficult times ahead for European banks?
Jul 30, 2012 • 13 min
This week Patrick Jenkins is joined by Sharlene Goff and James Shotter in Frankfurt to discuss UBS’ profits falling short of expectations, HSBC setting aside $2bn to cover fines and what next for Nomura after its top management were purged See…
The libor scandal: rate probe turns to other European banks
Jul 22, 2012 • 15 min
This week the team discuss the ongoing libor scandal and its implications for the next governor of the Bank of England, capital raising at Credit Suisse and banking competition in the UK - can smaller banks such as the Co-operative, Metro and M&S draw…
Raising the bar for banks’ capital requirements in Europe
Jul 15, 2012 • 13 min
This week the banking team discusses the European Banking Authority’s announcement that the 9 per cent temporary capital ratio required for lenders is to become permanent, HSBC’s probe over money-laundering claims, plus the latest on the Libor scandal -…
Raising the bar for banks’ capital requirements in Europe
Jul 15, 2012 • 13 min
This week the banking team discusses the European Banking Authority’s announcement that the 9 per cent temporary capital ratio required for lenders is to become permanent, HSBC’s probe over money-laundering claims, plus the latest on the Libor scandal -…
The fallout from the Libor scandal, capping bonuses and Spanish banks
Jul 8, 2012 • 16 min
This week, the banking team assess how the Libor scandal led to three key resignations at Barclays – and what happens next, the prospects of the European Union capping banking bonuses, and the look at a crucial week ahead for Spanish banks. Presented by…
Barclays and the wider Libor scandal
Jul 1, 2012 • 12 min
As Barclays is in engulfed by a firestorm of negative publicity following revelations its investment banking arm tried to manipulate Libor, the banking team discuss at whether Bob Diamond can survive as CEO, the prospects of other banks settling with the…
Activist hedge fund puts pressure on Lloyds
Jun 24, 2012 • 23 min
This week the banking team discuss The Children’s Investment Fund’s request for a £10bn Lloyds ‘coco’ conversion, Moody’s downgrade of 15 global banks, the state of the Spanish banking system and the continuing rise of bankers’ pay Patrick Jenkins is…
George Osborne’s latest plans for UK bank regulation
Jun 17, 2012 • 16 min
In this week’s podcast the banking team discuss George Osborne’s latest plans to tweak regulation of the banking industry, the problems facing Credit Suisse and the latest on free banking – should consumers pay a monthly fee for their current accounts?…
The Spanish bailout, RBS and Scottish independence and the issue of dividends versus pay
Jun 10, 2012 • 22 min
The banking team discuss the bailout of Spanish banks and are joined by special guest Hamish Patrick of Tods Murray solicitors to talk about RBS and the ramifications of Scottish independence on the bank. They also discuss the issue of dividends and pay…
Bankia’s bailout, free retail banking and cost cutting in investment banks
May 27, 2012 • 15 min
The wider implications of the bailout of Spain’s second biggest bank, is it the end of the road for free banking in the UK, and are investment banks really cost cutting? Presented by Patrick Jenkins, with Sharlene Goff, Daniel Schäfer and Brooke Masters…
Bank of England’s response to the financial crisis in the spotlight
May 20, 2012 • 12 min
This week the banking team discuss the FSA’s ban and fines on ex-UBS advisers, Barclays’ plans to sell its entire stake in the US fund manager Blackrock and the shock news that there will be an investigation in to the Bank of England’s handling of the…
How to restore confidence in Spanish banks
May 13, 2012 • 20 min
This week the banking team is joined by Miles Johnson in Madrid to talk about the impact of the eurozone crisis on Spain and Greece, the specialist treasury operation at JPMorgan that lost $2bn, and Canary Wharf, the ‘new’ financial centre which is set to…
HSBC’s results, Spanish Banks and Wonga’s move into small business lending
May 7, 2012 • 18 min
This week the FT’s banking team discuss HSBC’s latest results, the potential bail-out of Spanish bank Bankia and its broader implications for the eurozone and Wonga, the online lender who is to move in to small business lending Presented by Brooke…
How will the money be shared? Investors hit back at the banks
Apr 29, 2012 • 22 min
This week the FT’s banking team discuss Credit Suisse and Deutsche Bank’s results, the groundswell of opposition towards high bankers pay from investors, and Lloyd’s attempts to sell 600 of its branches. Presented by Patrick Jenkins, with Sharlene Goff…
Who will be Governor of the Bank of England?
Apr 23, 2012 • 14 min
The banking team discuss the likely candidates to take over from Mervyn King as Governor of the Bank of England, the forthcoming Barclays AGM and the BTG Pactual IPO. They also look at recent US banking results and how they will affect their European…
JPMorgan’s results, the problems facing Spanish banks and proposed EU caps on bankers’ bonuses
Apr 15, 2012 • 12 min
This week the FT’s banking team discuss JPMorgan’s results and what they mean for other US banks reporting this week, the problems facing Spain and the broader Iberian banking market, and the latest from the EU parliament and its moves to restrict pay and…
Abu Dhabi shows interest in RBS, Angela Knight steps down from the BBA and banks plan to repay the ECB early
Apr 2, 2012 • 12 min
The banking team discuss the possibility of Abu Dhabi investing £10bn in RBS. They also talk about Angela Knight’s decision to step down as chief executive of the British Bankers’ Association and the plans from big banks, including UniCredit, BNP Paribas,…
Andrea Orcel appointed at UBS, investment bank balance sheets to shrink, and Coutts faces fine
Mar 26, 2012 • 14 min
The FT banking team discuss the appointment of Andrea Orcel at UBS, the latest predictions of the shrinkage of the investment banking sector, and why Coutts has been fined by the FSA. See acast.com/privacy for privacy and opt-out information.
The national loan guarantee scheme, Hector Sants leaving the FSA and a departing shot from a Goldman Sachs banker
Mar 18, 2012 • 8 min
This week the banking team discuss the prospect of the UK government’s national loan guarantee scheme. They also talk about Hector Sants stepping down from his position as chief executive of the Financial Services Authority and the scathing attack…
A Greek debt swap, a change in Deutsche Bank’s management and Bob Diamond’s tax bill
Mar 11, 2012 • 17 min
The banking team are joined by special guest Sony Kapoor, manager and director of think-tank Re-Define, to talk about Greece. They also take a look at the change in management at Deutsche Bank and Barclays’ payment of Bob Diamond’s tax bill. Presented by…
Greece, LTROs, “highly abusive” tax schemes and living wills
Mar 4, 2012 • 16 min
The banking team discuss the critical week ahead for Greece and wonder if the LTRO has provided a false sense of security. They also take a look at the Barclays tax schemes that the UK government legislated against, and how the world’s largest banks are…
Results from HSBC and LLoyds, and how negotiations in Greece affect European banks
Feb 26, 2012 • 15 min
The banking team discuss HSBC’s decision to award its chief executive £5.9m in bonuses and longer-term incentives for 2011. They also review the latest results from UK banks and talk to Richard Milne, capital markets editor, about how the negotiations in…
Lloyds’ decision to take back bonuses in response to the mis-selling of loan insurance, its effect on upcoming results, and the ongoing Libor inquiry
Feb 19, 2012 • 15 min
This week the banking team discuss Lloyds Banking Group’s retrospective decision to take back a chunk of bonuses previously awarded to senior executives in response to the mis-selling of payment protection insurance. They also talk about how this will…
The Libor investigation and Barclays’ bonuses
Feb 13, 2012 • 13 min
The FT’s Sharlene Goff and Megan Murphy discuss the significance of the multinational regulatory investigation into alleged manipulation of Libor, and how to interpret the changing size of Barclay’s bonus pool See acast.com/privacy for privacy and opt-out…
How bonuses will be affected by RBS and upcoming bank earnings, and the European Banking Authority
Feb 5, 2012 • 13 min
The banking team take a look at Stephen Hester’s decision to waive his bonus and what that might mean for future bonuses. They also discuss upcoming UK and Swiss bank earnings and the EBA reaction to bank capital models. Presented by Megan Murphy, with…
Stephen Hester’s bonus, the World Economic Forum and worldwide financial regulation
Jan 29, 2012 • 16 min
This week the banking team are joined by special guest, Patricia Jackson, partner and head of financial regulatory advice at Ernst & Young, to talk about Stephen Hester’s decision to give up his bonus. They also discuss Mario Draghi being praised at the…
Global bank capital rules, FSA pressure on banks’ bonus pools and US bank earnings
Jan 22, 2012 • 13 min
This week the banking team talk about France and Germany’s efforts to get global bank capital requirements relaxed. They also discuss the Financial Service Authority pressure on banks to cut bonus pools to reflect huge losses triggered by mis-sold loan…
UK bankers’ bonuses, the Financial Stability Board’s plans to rein in shadow banking and a break down in Greek negotiations
Jan 15, 2012 • 13 min
This week the banking team discusses the increased pressure on bankers to limit their bonuses after António Horta-Osório waived his entitlement to a bonus for last year. They also take a look at the Financial Stability Board’s plans to restructure the…
RBS scales back its investment bank but keeps its bonuses, the latest from Basel and UniCredit’s rights issue
Jan 8, 2012 • 14 min
This week the banking team discuss what looks to be the most contentious bonus round since the financial crisis, the latest announcement from Basel about liquidity buffers and UniCredit’s rights issue, which sent its shares tumbling. Presented by Patrick…
The Vickers report, compliance at UBS and António Horta-Osório’s return
Dec 18, 2011 • 11 min
The banking team discuss the government response to Sir John Vickers’ report, the questions raised by a series of cases against former members of the “Asia II” wealth management desk at UBS and the announcement that António Horta-Osório, chief executive…
The FSA’s damning RBS report, European stress tests, and what Cameron’s veto means for the City
Dec 12, 2011 • 18 min
Patrick Jenkins, Sharlene Goff and Megan Murphy discuss the FSA’s long-awaited report into the failure of Royal Bank of Scotland, the European Banking Authority’s latest stress test results, and at what the UK’s EU treaty veto really means for the City of…
Bankers’ bonuses, liquidity issues in the eurozone and a fine for mis-selling at HSBC
Dec 4, 2011 • 1 min
Bankers’ bonuses are still a contentious issue, causing a furore even among shareholders. Also this week, signs that banks are struggling to borrow on the interbank markets and HSBC is hit with the UK’s largest ever retail fine of £10.5m for mis-selling…
The UK chancellor’s autumn statement and funding problems at European banks
Nov 27, 2011 • 10 min
Ahead of George Osborne’s autumn statement, the Banking Weekly team discuss his plans for the government to underwrite loans for small and medium sized companies. Also this week, European banks face a struggle to raise capital to meet the new nine per…
Management turmoil at Lloyds, Northern Rock’s return to the private sector and UBS’s bonus pool
Nov 20, 2011 • 15 min
The management turmoil at Lloyds after high-profile hire Nathan Bostock, who was due to take charge of the bank’s wholesale division decided to stay on at the Royal Bank of Scotland. Also this week, the banking team take a look at nationalised lender…
Risk-weighted assets, valuing bank debt, and Italy and the Eurozone crisis
Nov 14, 2011 • 16 min
Risk-weighted assets and how banks are trying to optimise their risk weightings. How banks account for the valuation of their own debt, which has been a big boost for to some banks’ quarterly profits. Also: Italy and how banks are coping with the eurozone…
António Horta-Osório’s break from Lloyds, the MF Global collapse and Bob Diamond’s cuddly bankers
Nov 6, 2011 • 18 min
In this week’s show: Lloyd’s faces a vacuum at the top as its chief executive takes a leave of absence on medical grounds, MF Global’s collapse has worrying echoes of Lehman Brothers and are bankers fulfilling their role in society? Presented by Megan…
Barclays’ results, shadow banking regulation and the eurozone deal
Oct 30, 2011 • 16 min
In this week’s show: what Barclays results signify for the rest of the UK banking sector, now that investors have seen the details, how are the markets reacting to the eurozone rescue package, and how are regulators going to monitor shadow banking?…
Selling Lloyds’ branches, entering the earnings season and bank recapitalisation
Oct 23, 2011 • 14 min
In this week’s show: The lacklustre interest in Lloyds branch portfolio from the private sector, what third-quarter investment bank results tell us about the health of the sector, and the options for recapitalising Europe’s banks. Presented by Megan…
Greece haircuts, Northern Rock bidders and the banking results season
Oct 16, 2011 • 14 min
In this week’s show: prospects for a renegotiation of the private sector’s role in bailing out Greece, the bidding process for Northern Rock and what JPMorgan’s results signify for the wider investment banking sector. Presented by Brooke Masters, with…
Expanding the European Financial Stability Facility
Oct 9, 2011 • 14 min
In this week’s show: why Slovakia could yet throw a spanner in the works of plans to expand the eurozone’s bail-out fund, the European Financial Stability Facility or EFSF, and why the Basel committee are determined to press ahead with plans to force…
Dexia, living wills, UBS and M&A activity
Oct 3, 2011 • 13 min
In this week’s podcast: What options are on the table for troubled Franco-Belgian lender Dexia? Also on the show, the world’s biggest banks begin to make living wills, UBS forecasts profits despite trading loss and we round-up the latest merger and…
Rogue trading, Lloyds job moves
Sep 19, 2011 • 10 min
In this week’s podcast: Trading losses at Swiss Bank UBS underline the need for banking reform; and, Lloyds Banking Group finance director, Tim Tookey, resigns. Presented by Brooke Masters with Sharlene Goff and Sam Jones. Produced by LJ Filotrani See…
Reaction to the Vickers report
Sep 13, 2011 • 15 min
This week’s podcast is a Vickers report special with Patrick Jenkins, Sharlene Goff and Brooke Masters. Produced by LJ Filotrani See acast.com/privacy for privacy and opt-out information.
Mortgage law suits, RBS/Lloyds/ Vickers’ preview
Sep 5, 2011 • 13 min
The US Federal Housing Finance Agency hits banks with lawsuits over the selling of mortgage bonds in the run-up to the credit crisis; the sale of shares in UK banks - Lloyds and RBS - looks to be on hold; and, with just a week to go before publication of…
Reaction to financial turmoil
Aug 8, 2011 • 13 min
In this week’s podcast: Intervention by the ECB to soothe markets; the US and the country’s downgrading - just how big a deal is it?; plus, what impact has the financial turmoil had on the banking sector - and what next? Presented by Sharlene Goff with…
Bank results and job cuts
Aug 1, 2011 • 14 min
In this week’s podcast: HSBC and results delivered today by new chief executive, Stuart Gulliver; we look forward to the rest of the UK banking sector as we anticipate what results are likely to be published later this week; and, we discuss the job cuts…
Basel III, investment banks, Lloyds and Northern Rock
Jul 25, 2011 • 16 min
In this week’s podcast: We look at the EU plan for enacting the Basel III capital requirements into law; we discuss EU investment banks which look set to report falls in trading revenue; and, we consider the auctions for Northern Rock and the sale of…
Stress tests, Q2, Lloyds
Jul 18, 2011 • 30 min
In this week’s podcast: we concentrate on the results of the European bank stress tests, which were released on Friday; we anticipate numbers of the second quarter earnings for 2011; and, we take a look at Lloyds and the process of selling 632 branches.…
Santander, Greece, Deutsche Bank
Jul 11, 2011 • 14 min
In this week’s podcast: We look at Santander’s plans to tackle poor customer service in the UK by rerouting its call centres from India to three locations in Britain; Eurozone ministers meet in Brussels today to consider default as part of the Greek…
Greece, Axel Weber, and the FCA
Jul 4, 2011 • 16 min
In this week’s show: the confusion over Greece’s debt - when is a default a default? Axel Weber goes to UBS - leaving Deutsche Bank in a succession tailspin. And how will the UK’s new Financial Conduct Authority work? Presented by Patrick Jenkins, with…
Greece, Lloyds and female quotas
Jun 27, 2011 • 17 min
Brady plan II: French banks ride to Greece’s rescue; with a high-risk loan book, where next for Lloyds? And so much for Lehman Sisters as board diversity plans are shelved Presented by Megan Murphy, with Patrick Jenkins, Sharlene Goff, and Helen Thomas…
Greece, capital surcharges, ring-fencing
Jun 20, 2011 • 16 min
In this week’s podcast: the deepening debt crisis in Greece and discussions about a second bailout; the world’s biggest banks face a capital surcharge of up to three percent; and, as the UK chancellor George Osborne announces his backing of ring-fencing…
Lending targets, pay, investors
Jun 13, 2011 • 14 min
In this week’s podcast: how UK bank lending targets are more complicated than you might think; new FT research shows the global changes in bankers’ pay; and when will bank stocks become fashionable again? Presented by Patrick Jenkins with Sharlene Goff,…
Stress tests, Lloyds and Northern Rock, Basel III
Jun 6, 2011 • 13 min
In this week’s podcast: Errors in data force delay in EU bank stress tests; Northern Rock to be sold alongside Lloyds branches; And as an EU law is being drawn up to impose the new Basel III requirements, we look at how European banks are preparing to…
UK lending, Deutsche, Sir Fred Goodwin
May 23, 2011 • 15 min
In this week’s podcast: UK banks are under fire again from the government over the amount of lending they are doing; Deutsche Bank has its AGM on Thursday amid growing speculation that Jo Ackermann is about to signal his retirement as chief executive;…
IMF, RBS, capital surcharges
May 16, 2011 • 15 min
In this week’s podcast: the International Monetary Fund faces disruption following the arrest of its head Dominique Strauss-Kahn; RBS boss Stephen Hester denies rumours of early exit from post; big banks take on capital surcharges. Presented by Patrick…
PPI, HSBC, IIF
May 9, 2011 • 12 min
In this week’s podcast: UK banks drop their PPI appeal: will the floodgates open on compensation? HSBC profits fall short; what to do with defunct banks. Presented by Patrick Jenkins with Brooke Masters and Sharlene Goff in the studio. Produced by LJ…
UK retail banking, location and bankers’ pay
Apr 18, 2011 • 14 min
In this week’s podcast: As implications of the interim report, delivered last week by the Independent Commission on Banking, are fully realised, we ask what will the landscape of UK retail banking look like this time next year; we return to a favourite…
UK Banking Commission special
Apr 11, 2011 • 13 min
In this week’s show: The FT’s banking team discuss the Vickers report: what it means for Lloyds, capital ratios, high street customers and politics. Presented by Megan Murphy with Sharlene Goff and Jennifer Hughes. Stateside is by Francesco Guerrera.…
Italian capital raisings, Irish bailout, UK Banking Commission
Apr 4, 2011 • 15 min
In this week’s podcast: Italy steps up pressure on its banks to boost their core tier one capital ahead of European Union stress tests starting this month; Ireland’s banks look for another bail out to the tune of €24bn; in the UK, speculation increases…
Libor rates, capital and Irish results
Mar 28, 2011 • 14 min
In the podcast this week: The evolving regulatory probe into the rate at which Libor was charged amid the crisis; bank capital and the investors mounting concerns that regulators are asking banks to hold too much capital; Ireland - Irish bank stress tests…
Tests, structural reorganisation and new takeover code
Mar 21, 2011 • 14 min
In this week’s podcast: With details finally released last week on the new stress tests, we ask whether the European Banking Authority has made the tests strict enough; we look at Sir John Vickers and the increasing pressure he is under to reconsider…
EU stress tests and potential bailouts
Mar 14, 2011 • 13 min
In this week’s show: EU stress tests - we discuss what key parts of the new tests are likely to be unveiled this week and we look at what was agreed in the meeting of EU leaders in Brussels, on Saturday, to stem the potential deepening economic crisis in…
Bob Diamond, HSBC, stress tests
Mar 7, 2011 • 12 min
In this week’s podcast: Barclay’s chief executive, Bob Diamond and his £7m bonus; HSBC and rumours about relocation: EU stress tests - changes to make them more robust. Presented by Megan Murphy with Patrick Jenkins and Brooke Masters. Produced by LJ…
Northern Rock, HSBC, Middle East investors
Feb 28, 2011 • 14 min
In this week’s podcast: Northern Rock’s return to riskier lending; HSBC and its full year results; Middle East investors and tension in Italy over UniCredit. Stateside is by Justin Baer. Presented by Patrick Jenkins with Sharlene Goff and Lina Saigo in…
Results, M&A, Ireland and the ECB
Feb 21, 2011 • 14 min
In this week’s podcast: Results from the UK’s two state-backed lenders, RBS and Lloyds; banks looking to sell more products to fewer clients on the back of M&A mandates; the spike in emergency lending by the ECB to Ireland’s two embattled lenders, Anglo…
Credit Suisse, Barclays, Project Merlin
Feb 14, 2011 • 14 min
In this week’s podcast: We look at Credit Suisse and cocos; Barclays and its annual results; Project Merlin. Stateside is by Dan McCrum in New York. Presented by Patrick Jenkins with Sharlene Goff and Jennifer Hughes. Produced by LJ Filotrani See…
Big bonuses, Project Merlin, EU results
Feb 7, 2011 • 18 min
In this week’s podcast: The row over bankers pay reignited by news of Barclays chief Bob Diamond’s £9.5m bonus; Project Merlin and news on how the initiative is faring; EU bank results. Stateside is by Francesco Guerrera this week. Presented by Patrick…
Davos, Lord Levene, the Banking Commission
Jan 31, 2011 • 18 min
In this week’s podcast: We take a look back at last week’s World Economic Forum event in Davos; we hear from Lord Levene about his new high street banking venture, NBNK; we discuss reactions from the City about suggestions from the Banking Commission…
Davos, Bob Diamond, Sir John Vickers
Jan 24, 2011 • 17 min
In this week’s podcast: We take a look at what’s likely to be on the agenda for the banking sector at the World Economic Forum in Davos; we shed light on Barclays chief executive Bob Diamond’s proposals for overhauling the way it pays its top bankers; we…
JP Morgan, Basel and insurers
Jan 17, 2011 • 13 min
In this week’s podcast: How insurance companies are potentially providing banks with a new source of liquidity; the latest news from the Basel committee and contingent convertible capital otherwise known as ‘cocos’ and hybrid debt; JP Morgan results…
Bonuses, lending and stress tests
Jan 10, 2011 • 14 min
In this week’s podcast: As banks prepare to pay out annual bonuses estimated to total as much as £7bn, we ask whether UK prime minister David Cameron’s comments about not wanting to “micromanage” the financial sector were prudent. We also look at UK bank…
Free banking, no to bonus tax, Spanish worries
Dec 6, 2010 • 13 min
On this week’s podcast: The last Banking Commission’s road show and Barclays chief John Varley’s suggestion that the era of free banking in the UK is at an end; more trouble for Spanish banks as JC Flowers pulls out of an investment deal with caja Banca…
Ireland bailout, Banking Commission, insider trading
Nov 29, 2010 • 12 min
In this week’s podcast: We talk about cross-border clamp downs on insider trading, we take a punt at what might be revealed in this week’s Banking Commission roadshow in the City, the last of 5 and we start with reaction to the EU €85bn bailout for…
Changing the banking landscape; Irish woes
Nov 21, 2010 • 14 min
How will the UK’s banking commission and the Walker report change the UK’s banking sector? Plus Ireland - what can be done to avert an even deeper crisis? Presented by Patrick Jenkins, with Megan Murphy and Jennifer Hughes. Produced by LJ Filotrani See…
Pay, McKinsey, Ireland
Nov 15, 2010 • 11 min
In this week’s podcast: bankers’ pay is again the focus of the regulators - but is cutting pay a risk any bank can take? And with banks surely facing liquidity issues, are they likely to cut down on long-term lending in preference of roll-over funding as…
FSA moves, Barclays, trade finance and Nomura
Nov 8, 2010 • 12 min
On this week’s podcast: The FSA and another high profile departure - David Strachan; the last of the European banks to report their results, Barclays; Basel III and its impact on trade finance and we end the show with a look at Nomura and potential…
Results, successions and pay
Oct 31, 2010 • 15 min
In this week’s podcast: We talk about Lloyds and RBS ahead of announcements about their quarterly results, we look at movements in leadership in some of the big banks and we finish the show with a look at what came our of the hearing of the Committee of…
Levies, regulation and capital raising
Oct 25, 2010 • 18 min
In this week’s podcast: We look at the banks reactions to levy announced last week and at some of the potential issues the UK government is yet to address, we talk to Simon Bailey from consultancy company Logica about regulation and lessons learnt since…
FSA, Financial Reportings, and London exodus
Oct 18, 2010 • 14 min
In this week’s podcast: We talk about the proposed break-up of the Financial Services Authority with the consultation process drawing to a close today. We ask whether the issues of who is to be responsible for what will be cleared up. Then we look at the…
Is it time to stop bashing the bankers?
Oct 10, 2010 • 19 min
In this week’s show: Richard Lambert of the CBI is calling for an end to banker bashing. Is it time to move on? After SocGen and Kerviel, have banking systems got better at spotting rogue traders? Bankers pay: will the restriction on bonuses create pay…
The Swiss finish; Bail in vs bail out; and can bankers repair their image?
Oct 3, 2010 • 17 min
The Swiss authorities have pushed up the capital requirements for their two biggest banks beyond Basel III - but will it create another set of problems? Can “too big to fail” ever be globally resolved? And can a compact between bankers and the public…
Changes at HSBC, UniCredit, and the impact of Wall Street 2
Sep 26, 2010 • 19 min
How has the shake-up at HSBC gone down with investors? The UK’s banking commission has set out its stall - but what can it do? UniCredit is looking for a new chief executive - we discuss the options. Plus Stateside with Justin Baer: what will be the…
Cap on workers, securitisation and Northern Rock
Sep 20, 2010 • 15 min
In this week’s podcast: We look at the predicted effect the UK immigration cap is likely to have on the vast numbers of non-EU workers employed in the City. We ask what this will mean for the big banks. We hear from our office in New York in our new…
Basel III, Bob Diamond and Stephen Green
Sep 13, 2010 • 18 min
In this week’s podcast: We discuss the impact the new capital rules announced yesterday in Basel will have, if any, on the banks of Europe. We then talk about Bob Diamond’s new position as chief executive of Barclays - we ask whether the move to put an…
UK banks special
Sep 6, 2010 • 18 min
In this week’s podcast: We are joined by Angela Knight, the CEO of the British Bankers’ Association to talk about; demands from politicians for breaking up the big banking groups; lending; pay and bonus reform - we ask whether firms have taken the…
UK bank results and funding
Aug 2, 2010 • 13 min
In this week’s podcast: We take a look at the first half yearly results to come through on UK banks, starting with HSBC today and we also look at the funding of European banks. Presented by Patrick Jenkins, with Sharlene Goff and Anousha Sakoui. Produced…
Stress test special
Jul 26, 2010 • 15 min
In the podcast this week: We review the results from the stress testing of European banks, released on Friday. We ask what the market reaction has been and what real impact the results will have. We talk to the secretary of state for economic affairs in…
UKFI, Goldman Sachs, cyclical buffers and stress tests
Jul 19, 2010 • 12 min
In this week’s podcast: What does the UK Financial Investments’ appointment of Jim O’Neil suggest? Also: what does Goldman Sachs’ settlement of $500m mean for other banks? We discuss the implications of the Basel concept of counter cyclical buffers; and a…
High-street banks, bail-out funds, stress tests and EU regulations
Jul 12, 2010 • 15 min
In this week’s podcast: We take a look at the new high street bank to be launched, backed by some high-profile individuals; we turn our attention to the suggestion by Alessandro Profumo, chief executive of Italy’s UniCredit, that there should be a…
Pay, Q2 earnings, divestments and stress tests
Jul 5, 2010 • 13 min
In this week’s podcast: The latest EU initiative on bankers’ bonuses - what does this mean for those working in the sector? Also, with Q2 earnings being released shortly, we try and work out what they will suggest for the rest of the year. We take a look…
US Financial Reform Bill, the G20 and ‘stress tests’
Jun 28, 2010 • 13 min
In the podcast this week: A week of extraordinary change, from the passage of the US Financial Reform Bill at the 11th hour to new capital and liquidity pledges at the G20 summit in Toronto. Also up for discussion is the mounting pressure for wider stress…
The budget, the FSA and ‘stress tests’
Jun 21, 2010 • 14 min
On the eve of the emergency budget, Banking Weekly looks at the implications of the government’s plan to raise £3bn through a bank levy. Also up for discussion is the break up of the FSA and the transference of regulatory power over to the Bank of…
Levies, assets and zombies
Jun 7, 2010 • 32 min
In this week’s pod: The prospects of a global bank levy, asset sales of the Royal Bank of Scotland and the fortunes of ‘zombie’ companies. With FT correspondents Megan Murphy, Sharlene Goff and Anousha Sakoui. Produced by LJ Filotrani See…
Falling shares, bankers’ pay and Eurozone debt
Jun 1, 2010 • 16 min
In this week’s pod: Megan Murphy talks to FT correspondent for retail banking Sharlene Goff and Lex writer Richard Stovin-Bradford about the Eurozone’s escalating debt crisis, the response of the banks and the ongoing debate over bankers’ pay. Produced by…
Will the UK follow the US Senate bill for financial reform?
May 24, 2010 • 15 min
The FT banking and regulation team discuss the possibility of a European-wide ban on speculative sovereign-debt trading and the key points of the bill on financial reform passed by the US Senate last week. Will the newly-formed UK coalition government…