Author: Lily Harper

Stockbroker Panmure Liberum has joined Deutsche Bank in barring staff from working at home on consecutive Mondays and Fridays, as financial services groups across the City of London push to get staff back to the office more frequently. UBS has also said that its UK employees will no longer be able to work from home on Monday if they were not in the office on the previous Friday. Other institutions have gone further still, with City broker Peel Hunt recently mandating staff back into the office four days a week. Quant brokers at Man Group must attend five days. Santander…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Apollo Global Management has told graduates that it will delay recruiting for junior associates until next year, after a stand-off between Wall Street banks and private equity firms over how they secure young talent. Private equity groups had increasingly been hiring recent graduates with start dates two years later, allowing them to first complete a training programme at an investment bank. But the practice had become a source of friction with Wall Street’s top banks, with JPMorgan Chase telling its incoming investment…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Credit Suisse’s former global head of asset management was accused by a board member of the now-defunct bank of giving a “false picture” of its funds tied to Greensill Capital, London’s High Court has heard. Eric Varvel, who left Credit Suisse in 2022 after more than 30 years, was accused by Andreas Gottschling, the former chair of the bank’s risk committee, of misrepresenting the findings of a report into funds linked to Greensill Capital, the supply-chain finance firm that collapsed in scandal.The allegation…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.European buyout group Oakley Capital has acquired a majority stake in strategic advisory firm G3 in a sign of continued investor interest in London’s thriving corporate intelligence industry.Founded in 2004, G3 is one of a clutch of firms in the UK capital that relies on networks of global sources to provide intelligence on political and business issues to corporate clients around the world.The deal values the company at more than £250mn, based on a “high teens” multiple of forecast future pre-tax earnings…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The world’s biggest commercial aircraft owner AerCap is in line for a payout of more than $1bn after a High Court judge found insurers had to cover losses from planes stranded in Russia, in one of the largest sums ever awarded by the English courts.Insurers including AIG, Lloyd’s of London and Chubb have been told to provide cover for more than 147 planes owned by a group of lessors that were stuck in Russia following the country’s full-scale invasion of Ukraine. The…

Stay informed with free updatesSimply sign up to the US financial regulation myFT Digest — delivered directly to your inbox.The US and Switzerland have ended a years-long stalemate over sharing information about client investments, a step that will allow Washington greater visibility into assets held in the European banking hub. The agreement comes amid regulatory examinations of at least eight Swiss companies that do business through a US-regulated entity, said three people with knowledge of the matter. The US Securities and Exchange Commission’s examinations, which included smaller managers as well as larger investment group Vontobel, involved some on-site inspections in…

Top Wall Street dealmakers are aligning with Andrew Cuomo’s campaign for New York City mayor, hoping the disgraced former governor can defeat a slate of leftist hopefuls. Cuomo’s campaign and an independent committee supporting him have taken in millions of dollars in contributions from finance, real estate and other corporate interests that have helped him far out-raise his competitors. High-profile contributors include hedge fund billionaires Bill Ackman and Dan Loeb, financiers Steven Rattner and Anthony Scaramucci and media mogul Barry Diller. While Wall Street and business interests comprise a small fraction of New York voters, they have outsized influence in…

It is the “ticking time bomb” of financial planning. New retirees in the UK risk seriously misjudging their retirement planning because they underestimate how long they are likely to live after stopping work, a professional services firm has warned.Barnett Waddingham issued the alert based on new analysis of data on people in defined benefit pension schemes, a group that lives slightly longer than average. The study found that at age 65 women on such schemes underestimated their life expectancy — which is 89 — by seven years. Men underestimated their figure — 86 — by four years.Jack Carmichael, an actuary…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Elon Musk’s artificial intelligence company xAI was closing in on a $5bn debt financing package to fund new data centres and chips to power its business. Then on Thursday the world’s wealthiest man torpedoed his relationship with US President Donald Trump.Musk’s bankers at Morgan Stanley must now contend with this new complication as would-be investors try to assess the fallout from the dramatic unravelling of Musk’s ties to the president, according to people briefed on the matter. The debt could be more…

Stay informed with free updatesSimply sign up to the Pensions industry myFT Digest — delivered directly to your inbox.Ministers will unveil a sweeping overhaul of Britain’s pensions system on Thursday aimed at unpicking problems created by previous rules and boosting the retirement savings of millions of people. The pensions bill will cover six areas of reform and include a “reserve” power to force pension schemes to invest more in the UK if they fail to meet a voluntary commitment.One of the most notable features of the bill — announced in the King’s Speech last July and the first since 2021…