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A costly investigation into the conduct of senior UK bankers during the financial crisis has raised questions about what it means to prosecute allegations of corporate crime, and whether Britain’s fraud laws need overhauling. With the FT’s Caroline Binham and Jane Croft. We want to hear from you. Please go to ft.com/behindthemoneysurvey and fill out our survey for a chance to win a pair of Bose QuietComfort Noise Cancelling headphones. Read more from Jane and Caroline here:Barclays: the legal fight over a company’s ‘controlling mind’https://www.ft.com/content/f666b592-5a4b-11ea-abe5-8e03987b7b20 (paywall)Review clip: Sky News See acast.com/privacy for privacy and opt-out information.
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 analysis at the European Banking Authority.Contributors: Patrick Jenkins, financial editor, Caroline Binham, financial regulation correspondent, Stephen Morris, European banking correspondent, Nick Megaw, retail banking correspondent and Laura Noonan, US banking editor. Producer: Persis Love See acast.com/privacy for privacy and opt-out information.
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 off loans from its balance sheet. With special guests: Stephen Jones, chief executive of the banking association UK Finance and Rushanara Ali, Labour MP and member of the UK Treasury Select Committee.Contributors: Patrick Jenkins, financial editor, Caroline Binham, financial regulation correspondent, Stephen Morris, European banking correspondent, and Robert Armstrong, US financial editor. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
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 governor Mark Carney, and the Fed's decision to drop the introduction of tougher liquidity rules for foreign banks. With special guest, Erkin Nosinov, a director at BCS Consulting.Contributors: Patrick Jenkins, financial editor, Caroline Binham, financial regulation correspondent, David Crow, banking editor, and Laura Noonan, US banking editor. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
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 laundering, With special guest Brandon Daniels of Exiger Contributors: Patrick Jenkins, financial editor, Robert Armstrong, US banking editor, David Crow, banking editor, and Caroline Binham, financial regulation correspondent. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
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 special guest Mark Steward, Director of Enforcement and Market Oversight for the Financial Conduct Authority.Contributors: Patrick Jenkins, financial editor, Caroline Binham, financial regulation correspondent, David Crow, banking editor, and James Kynge, global China editor. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
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 Jenkins, financial editor, Don Weinland, Beijing financial correspondent, Stephen Morris, European banking correspondent, Nick Megaw, retail banking correspondent, Caroline Binham, financial regulation correspondent and Elaine Moore, deputy head of Lex. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
Facebook has revealed plans for a new global digital currency, claiming it will enable billions of people around the world without a bank account to make money transfers. Patrick Jenkins discusses the initiative and what it means for the banks with Nick Megaw, Caroline Binham and Elaine Moore.Contributors: Suzanne Blumsom, executive editor, Patrick Jenkins, financial editor, Nick Megaw, retail banking correspondent, Caroline Binham, financial regulation correspondent and Elaine Moore, deputy head of Lex. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
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 seem to love running. With special guest José Manuel Campa, chairman of the European Banking Authority.Contributors: Patrick Jenkins, financial editor, Caroline Binham, financial regulation correspondent, Don Weinland, Beijing financial correspondent, and Laura Noonan, US banking editor. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
Britain’s best known fund manager Neil Woodford is struggling to save his business after he was forced to freeze his flagship fund because it could not meet withdrawal demands from investors. Patrick Jenkins discusses what went wrong and who will be affected with Caroline Binham and Kate BeioleyContributors: Patrick Jenkins, FT financial editor, Kate Beioley, FT Money reporter and Caroline Binham, financial regulation correspondent. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
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 potential for bitcoin transactions. With special guests: François Villeroy de Galhau, Banque de France governor, Claire Woodman of Morgan Stanley and Luigi Rizzo of Bank of America Merril Lynch.Contributors: Patrick Jenkins, financial editor, Caroline Binham, financial regulation correspondent, Martin Arnold, deputy companies editor, and Laura Noonan, US banking editor. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
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 US. With special guest Lambros Kilaniotis, partner at the law firm RPC.Contributors: Patrick Jenkins, financial editor, Caroline Binham, financial regulation correspondent, Stephen Morris, European banking correspondent and Robert Armstrong, US financial editor. Producer: Fona Symon See acast.com/privacy for privacy and opt-out information.
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 Crow, banking editor, Stephen Morris, European banking correspondent, Caroline Binham, bank regulation correspondent, and Laura Noonan, US banking editor. See acast.com/privacy for privacy and opt-out information.
More than a decade after Barclays turned to Middle Eastern investors for rescue funds during the financial crisis, a jury in London has begun hearing the case against the bank’s former chief executive John Varley and three senior colleagues, who stand accused of defrauding the market. Patrick Jenkins discusses what has emerged from the case so far with Caroline Binham and Jane Croft.Contributors: Suzanne Blumsom, executive editor, Patrick Jenkins, financial editor, Caroline Binham, financial regulation correspondent and Jane Croft, law courts correspondent. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
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 senior colleagues in London.Contributors: Patrick Jenkins, financial editor, Brooke Masters, comment editor, David Crow, banking editor, Nicholas Megaw, retail banking correspondent, Caroline Binham, financial regulation correspondent, Jane Croft, law courts correspondent and John Cronin, financial analyst at Goodbody stockbrokers, in Dublin See acast.com/privacy for privacy and opt-out information.
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 Binham, financial regulation correspondent and Stephen Morris, European Banking correspondent. Special guest: Jonathan Allen, AWS Enterprise Strategist & Evangelist. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
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 financial sector.Contributors: Patrick Jenkins, financial editor, David Crow, banking editor, Caroline Binham, financial regulation correspondent, Robert Smith, capital markets correspondent and John Glen, City minister. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
Oliver Bullough, author of Moneyland, tells Caroline Binham about his attempts to track down the wealth hidden away by the world's crooks and kleptocrats and why the problem urgently requires a transnational solution.Contributors: Josh Noble, weekend news editor, Oliver Bullough, journalist and author, Caroline Binham, financial regulation correspondent. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
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,Contributors: Patrick Jenkins, financial editor, David Crow, banking editor, Caroline Binham, financial regulation correspondent, Stephen Morris, European banking correspondent and Laura Noonan, US banking editor. Producer: Fiona Symon. See acast.com/privacy for privacy and opt-out information.
Since Howard Wilkinson, Danske Bank’s then head of markets in Estonia, blew the whistle on money laundering in 2013, the enormous scale of wrongdoing has emerged, report Richard Milne and Caroline Binham. It has cost chief executive Thomas Borgen his job, and raised grave questions about the bank’s relationships with Russian entities and its regulators See acast.com/privacy for privacy and opt-out information.
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. Presented by Patrick Jenkins with Hannah Murphy, Stephen Morris, Caroline Binham and Richard Milne. See acast.com/privacy for privacy and opt-out information.
Theresa May promised to put financial services at the heart of a trade deal with the EU, but her government has postponed a position paper on the topic indefinitely. Siona Jenkins discusses the implications of this decision with Patrick Jenkins, Robert Armstrong and Caroline Binham. See acast.com/privacy for privacy and opt-out information.
UK banks are well placed to weather even a worst case Brexit scenario, but what if something else goes wrong? Patrick Jenkins, FT financial editor, discusses the Bank of England's stress tests and what they means for future dividends and profitability with Caroline Binham, financial regulation correspondent, Martin Arnold, banking editor, and Isabelle Jenkins head of banking at PWC. Music by Kevin MacLeod See acast.com/privacy for privacy and opt-out information.
The US jury rejected Mark Johnson’s defence that ‘pre-hedging’ was standard industry practice, Caroline Binham, the FT's financial regulation correspondent tells Martin Arnold, banking editor. Music by Kevin MacLeod See acast.com/privacy for privacy and opt-out information.
The Federal Bureau of Investigation is worried that bank traders are turning to encrypted apps to hide illicit communications from internal compliance programmes and regulators. Patrick Jenkins discusses the problem and some potential solutions with Oliver Blower, chief executive of VoxSmart, and Caroline Binham, FT financial regulation correspondent. Music by Kevin MacLeod. See acast.com/privacy for privacy and opt-out information.
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 information.
Companies with business ties to Arab Gulf states have found themselves in an uncomfortable position as a result of a trade boycott of Qatar by four regional Arab states, including Saudi Arabia and the UAE. Now it appears that global banks are feeling the impact. Caroline Binham asks the FT's Gulf correspondent Simeon Kerr what's going on. Music by Kevin MacLeod. See acast.com/privacy for privacy and opt-out information.
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 acast.com/privacy for privacy and opt-out information.
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 Reserve governor. See acast.com/privacy for privacy and opt-out information.
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 Standards Board and Mike Mayo, US bank research analyst. See acast.com/privacy for privacy and opt-out information.
One of the biggest industry surveys has found that one in eight bankers said it was difficult to progress in their careers without "flexing" ethical standards. Caroline Binham discusses the findings with Dame Colette Bowe, chair of the BSB, which carried out the survey, and Martin Arnold, FT banking editor. Music by Kevin MacLeod. See acast.com/privacy for privacy and opt-out information.
Brussels plans to tighten rules for overseas banks operating in the EU in a tit-for-tat step against the US that will raise costs for big foreign lenders. Does this mean the global consensus on bank rules is breaking down? Patrick Jenkins, FT financial editor, discusses the issue with colleagues Martin Arnold and Caroline Binham, and hears the view of Andrea Enria, chairman of the European Banking Authority. Music by Kevin MacLeod See acast.com/privacy for privacy and opt-out information.
European regulators gave the German lender special treatment in this summer's stress tests, the FT has discovered. Patrick Jenkins asks Caroline Binham, financial regulation correspondent, and Laura Noonan, investment banking correspondent, to explain what was behind the decision. Music by Kevin MacLeod See acast.com/privacy for privacy and opt-out information.
Cyber risk is in the news following a series of attacks on Asian banks, and New York District Attorney Cyrus Vance is in London to talk about a transatlantic co-operation deal to tackle the risk. Patrick Jenkins asks Caroline Binham, the FT's financial regulation correspondent, and Martin Arnold, banking editor, what banks are doing to combat the threat. Music by Kevin MacLeod See acast.com/privacy for privacy and opt-out information.
Seven of the UK's big banks have passed the Bank of England's latest stress tests, which are designed to assess their ability to withstand a crisis - but only just. Patrick Jenkins discusses the results with Caroline Binham, FT financial regulation correspondent and Stephen Hall from KPMG. See acast.com/privacy for privacy and opt-out information.
Barclays has been at loggerheads with Britain's Serious Fraud Office over a 2008 deal with Qatar that helped the bank avoid a government bailout. Patrick Jenkins discusses the latest twist in the long-running probe with Caroline Binham, the FT's financial regulation correspondent. See acast.com/privacy for privacy and opt-out information.
The City of London is celebrating the departure of Martin Wheatley as head of the UK Financial Conduct Authority. Patrick Jenkins, financial editor, asks Caroline Binham, financial regulation correspondent, whether this ushers in a more lenient era for the banks. See acast.com/privacy for privacy and opt-out information.
Senior managers at UK banks risk having their bonuses clawed back for as long as a decade if they take "material risks", under proposals unveiled by regulators that would give the UK one of the world's strictest regimes on bonuses and pay. Patrick Jenkins talks to Caroline Binham about the proposed rules. See acast.com/privacy for privacy and opt-out information.
As Greece heads closer to a default, how are the markets reacting and what would happen if the Tsipras government failed to reach a deal with Greece's creditors? Patrick Jenkins, FT financial editor, discusses the potential fallout with Ralph Atkins, Martin Arnold and Caroline Binham. See acast.com/privacy for privacy and opt-out information.
America’s biggest trade union federation is campaigning against “golden parachutes” in which bank executives pocket millions of dollars before taking jobs in government. Patrick Jenkins discusses the issue with Heather Slavkin Corzo, head of the federation’s investment office, and Caroline Binham. See acast.com/privacy for privacy and opt-out information.
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 at KPMG. See acast.com/privacy for privacy and opt-out information.
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 regulators and the latest US rejection of the living wills of European banks. See acast.com/privacy for privacy and opt-out information.
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 difficulties at HSBC. See acast.com/privacy for privacy and opt-out information.
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, asset manager pay, and the planned takeover of Portugal's BPI by Spain's Caixabank See acast.com/privacy for privacy and opt-out information.