Sir Gerry Grimstone to step down from Barclays roles
Sir Gerry is currently a non-executive director at Barclays and the chairman of its Barclays Bank subsidiary, but he will leave those roles at the end of February
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LON:BARC
Barclays is a global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management. It operates through branches, offices and subsidiaries in the United Kingdom and overseas.
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Sir Gerry is currently a non-executive director at Barclays and the chairman of its Barclays Bank subsidiary, but he will leave those roles at the end of February
President Trump is due to sit down for talks with Chinese Vice Premier Liu He at around 7.30pm UK time
Fines for mis-selling PPI, rigging interest rates and selling mortgage-backed securities have wiped billions from Barclays’ earnings in recent years, but those issues are almost behind it
Risers on the Footsie were outnumbered 3 to 1 by fallers
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Barclays will be a highlight in Thursday's schedule.
"The group has had a good start to the year," chairman David Morrison said.
The firm said access to the Real Time Gross Settlement accounts would now allow it to process payments made through its platforms in real-time as well as other benefits like instant transfers
According to the Financial Times, Tiger Global, which at one point had amassed a 2.5% stake in the lender began to exit its position in 2018 and finished doing so just recently
Investments and investor services
Footsie closed down around 17 points at 7,219 but FTSE 250 added over 140 at 19,127
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Aside from the banking results, the week ahead will bring updates from other blue-chips firms such as BAE Systems, Anglo American, Pearson, and Reckitt Benckiser
The lender will only grant the 100% mortgage if the family member of the purchaser puts a sum equal to 10% of the value of the property into a Lloyds savings account
Santander will close 140 branches, leading to about 840 redundancies
Chief executive Craig Donaldson said 2018 was another strong year of growth for Metro Bank
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Britain's blue-chip index closed over 58 points lower at 6,642, while the FTSE 250 was also down
Investments and investor services
The UK's blue-chip index finished down nearly seven points at 6,96, while FTSE 250 was also lower
Deutsche Bank’s top picks in order of preference are Barclays, RBS and Lloyds
“Our house view does not factor a recession until late-2020 although there are a number of geopolitical risks that could derail this - including the US-China trade war, Brexit, and Italy," Deutsche Bank said
Investments and investor services
The UK blue-chip benchmark closed down around 24 points at 6,918, while FTSE 250 added nearly 107 points on the day
In a letter to shareholders, Edward Bramson said: “It seems increasingly likely that, for any progress to be made on our concerns, we will be required to seek a shareholder vote to make changes in the composition of the board”
If the markets are right, Britain’s big four banks are in for a rough ride in 2019