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Felicity Selcoe, a former Top 30 star recognized by Citywire, has joined Barclays Private Bank. Previously, she served as a vice president on JP Morgan’s investor desk and was a director at Julius Baer in its investment advisory division, following her tenure at Smith & Williamson.
Volatility surged in European markets as indices dropped around 2%, with the CAC40 returning to mid-January levels amid mixed reactions to new US trade taxes. Europe and China have indicated potential retaliatory measures, while major US banks raise recession probabilities due to a significant trade imbalance and weaker consumer data. The US aims to reduce its budget deficit through increased customs duties, risking economic slowdown, as the Treasury Secretary emphasizes the need for lower long rates.
Donald Trump's newly announced tariffs, including a 10% baseline on all U.S. imports and higher rates on specific countries, could push the U.S. economy towards recession by increasing inflation and reducing consumer spending, according to JP Morgan's chief economist. The tariffs are projected to generate $400 billion in revenue but may lead to a significant contraction in real disposable income and consumer spending in the coming quarters. Global leaders are preparing retaliatory measures, raising concerns about widespread economic repercussions.
Former Barclays CEO Jes Staley faces scrutiny for allegedly misleading the Financial Conduct Authority regarding his relationship with Jeffrey Epstein. The tribunal heard that Staley "rolled the dice" on the truth, with evidence suggesting a closer connection than he admitted. Staley's defense claims he was unaware of Epstein's misconduct, while the FCA argues he knowingly provided misleading information to protect his position.
Former Barclays CEO Jes Staley is facing scrutiny for allegedly misleading the Financial Conduct Authority regarding his relationship with Jeffrey Epstein. Staley, who was fined over £1.8 million and banned from senior financial roles, claimed he had no close ties with Epstein, despite evidence suggesting otherwise. The tribunal heard that Staley viewed Epstein as a mentor and continued communication with him even after his appointment at Barclays, raising questions about the integrity of his statements to regulators.
Antony Jenkins, the former Barclays chief, is considering selling his fintech company 10X, which he founded in 2016 after leaving Barclays. The firm, focused on banking-as-a-service technology, has attracted significant investment and aims for profitability by year-end, but declining tech valuations may impact its sale price.
UBS is facing pressure from Swiss regulators to increase capital reserves, prompting discussions about potentially relocating its headquarters. While the bank emphasizes its commitment to remaining in Switzerland, experts suggest that alternatives like Singapore are limited, and a move may not be financially viable for 10 to 15 years. The ongoing uncertainty is impacting UBS's share price, which has underperformed compared to its peers.
Goldman Sachs and Crédit Agricole have upgraded their forecasts for the Pound against the Dollar, citing a potential rally driven by USD weakness and improving UK growth. As the UK currency acts as a hedge against rising U.S. tariffs, it has recently recovered to 1.2905, exceeding some short-term targets. However, risks remain high as new tariffs could shift market dynamics, potentially benefiting the Dollar.
Paul Arni, former CEO of VP Bank, has joined WRISE Singapore as a non-executive director, effective immediately. He will guide the firm's corporate strategy, governance, and risk management, emphasizing the importance of robust governance in wealth management. WRISE Group is expanding its presence in Asia, having recently launched offices in Shenzhen and Dubai.
Paul Arni, former CEO of VP Bank, has joined WRISE Singapore as a non-executive director, effective immediately. He will guide the firm's corporate strategy, governance, and risk management, emphasizing the importance of robust governance in wealth management. WRISE Group is expanding its presence in Asia, having recently launched offices in Shenzhen and Dubai.
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Felicity Selcoe joins Barclays Private Bank after successful career in finance
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Smith & Williamson Eagle
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16:22 03.04.2025
us trade war escalates as recession fears and deficit reduction loom
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13:16 03.04.2025
trump tariffs raise recession fears as inflation and consumer spending decline
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09:55 03.04.2025
tribunal hears allegations of misleading regulator in staley epstein case
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18:08 02.04.2025
former barclays ceo misled regulator over relationship with jeffrey epstein
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14:49 02.04.2025
former barclays chief explores sale of fintech firm 10x
12:17 31.03.2025
ubs considers leaving switzerland amid capital reserve demands and share price decline
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CHE
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15:54 28.03.2025
investment banks raise pound dollar forecasts amid tariff concerns
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Credit Agricole
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10:55 27.03.2025
former vp bank ceo joins wrise singapore as non-executive director
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ARE
LIE
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08:26 26.03.2025
former vp bank ceo joins wrise singapore as non-executive director
United States Dollar
Credit Suisse Strategic Income I
VP Bank AG
UWS JP Morgan EM A OSB
Julius Baer Gruppe AG
Deutsche Bank RV Global PP
The Goldman Sachs Group, Inc.
ARE
LIE
CHN
JPN
CHE
SGP
Shigehiro Suzuki
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Paul Arnison
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18:01 25.03.2025
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