Responding to the announcement that Sir Win Bischoff, Chairman of Lloyds Banking Group, will be retiring no later than May 2014, Chris Cummings, Chief Executive of TheCityUK, commented:
With less than three months to go until new legislation ushers in major changes for the European hedge fund industry, a new report reveals that the continent’s share of the global market has remained surprisingly stable at just over a fifth.
Queen’s Speech: TheCityUK urges Government to provide platform for growth and certainty for financial sector
Ahead of the Queen’s Speech today, TheCityUK is urging the Government to ensure that its legislative programme for the next year provides a platform for growth and certainty for the financial and related professional services sector.
City Week 2013 to highlight role of financial services in driving global economic growth: London hosts major International Finance Forum
City Week 2013, the International Financial Services Forum, starts today with representatives from across the global financial sector including senior politicians, regulators and financial practitioners gathering in London to debate the challenges they face as they look to drive growth in the global economy.
TheCityUK has expanded its leadership team with two key new hires.
TheCityUK has launched a new App that allows members and non-members alike to access its financial and related professional services research and news on an iPad.
TheCityUK today comments on the announcement by the Financial Policy Committee that UK banks need to raise an extra £25bn in capital reserves by the end of 2013.
Commenting on the UK balance of payments figures released today by the ONS Chris Cummings, Chief Executive of TheCityUK, said:
TheCityUK’s latest Legal Services Report highlights that the value of the legal services sector to the UK economy doubled in the last decade from £10.6bn in 2001 to £20.9bn (1.6% of GDP) in 2011. Furthermore, gross fees generated by law firms in the UK increased by 5% in the financial year 2011/2012 to £26.8bn. Fee income of the largest 100 law firms in the UK also increased by 17% in the same period.
TheCityUK’s report revealed that global SWF assets under management increased for the fourth year running in 2012, hitting a record $5.2tn, due to growth in existing assets as well as the launch of a number of new funds.