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...UK ministers are working on a threshold for foreign state ownership to allow “passive” investment from sovereign wealth funds run by countries such as Norway and Singapore....
...Ng said the wealth management business was nascent but so far “very successful”....
...director for private wealth at IQ-EQ....
...In February, Barclays said it had cut its annual bonus pool by 3 per cent after a tough year for its investment bank in 2023, while the bank has also embarked on a programme of job cuts, particularly in...
...In December, Barclays’ second-biggest shareholder, Qatar’s sovereign wealth fund, sold half of its stake worth £510mn....
...Not including the group function, these will be: Barclays UK, private bank and wealth (which since 2021 has averaged 31 per cent Rote), the US consumer bank, the UK corporate bank and an independent investment...
...But investors — including the pension funds USS and Omers as well as the Chinese and Abu Dhabi sovereign wealth funds — have deemed the company “uninvestable” and are refusing to invest any more money into...
...Following the change in corporate structure, the bank will be managed through five divisions: UK banking; UK corporate banking; private banking and wealth management; investment banking; and US consumer...
...Barclays wants its investment bank to have more-or-less the same cost base and risk-weighted assets in 2026 as 2023, but says it will be generating between £2bn and £3bn more in revenues....
...The bank also said on Tuesday that it would shake up its corporate structure, with five new divisions ranging from retail banking to wealth management and investment banking....
...Qatar’s sovereign wealth fund is slashing its stake in Barclays, the UK bank that is coming under pressure from investors to overhaul its strategy and improve its performance....
...Private-credit funds are on track for their outright decline in gross capital distributions for the first time since 2020, the bank points out: As Barclays puts it: In our view, the suppression in private...
...The bank said that without that reduction, bonuses would be down 15 per cent this year. Barclays is one of the first banks to outline its cut to bonuses following a brutal year for investment banking....
...In a letter to the Financial Times, Venkatakrishnan said the UK “badly needs” a development agency similar to those in Singapore, France and Ireland, which have a reputation for supporting businesses seeking...
...Next week, Barclays boss CS Venkatakrishnan — known as Venkat — must offer a plausible fix for this at the bank’s first strategy overhaul in almost a decade....
...But investors disagreed, worried that the sale left Barclays over dependent on the investment bank....
...Barclays’ UK consumer bank division generates the highest return on tangible equity, a key measure of profitability, while consuming much less capital than its investment bank, according to JPMorgan....
...Chief Jane Fraser recently hired Andy Sieg, the former president of Merrill Lynch Wealth Management, to revive the bank’s wealth business....
...Blackstone’s credit and insurance division will buy the US credit card receivables from Barclays for an undisclosed sum, and the bank will continue to service the accounts for a fee....
...In today’s newsletter: Barclays plots another revamp Two credit card giants combine Dell backs new private credit firm Barclays boss unveils his plan to revive the bank Barclays’ most important strategy...
...So far, the foundation has donated $3mn to a collaboration between the World Bank and the Indonesian government to provide better nutrition and train “human development workers” in about 75,000 villages....
...Erik Meijaard, a conservation scientist focused on the region, said he hoped “other investment funds and banks will follow this lead”....
...Barclays will from Wednesday offer a two-year fix at 4.17 per cent, down from 4.62 per cent, for borrowers with a 40 per cent deposit....
...HSBC already reported a $3bn charge on its stake in a Chinese bank earlier this year amid mounting bad loans in the country....
...However, his choice of John Flint, head of the bank’s retail banking and wealth management business, proved a mis-step....
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