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Professional Services

Starling Bank's profits tumble as tougher competition takes toll
By City AM
Starling said it had been hit by higher costs as it ramped up its investment levels in a more competitive fintech market, with staff expenses a major factor in the increased expenses
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HSBC intensifies European downsizing, slashing investment bank roles amid strategic Asian pivot
By City AM
The bank reportedly cut more than two dozen investment bank jobs in Europe, with the cull including the head of fixed income research for the Middle East and North Africa
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Hargreaves Lansdown backs FTSE small cap surge amid low valuations
By City AM
The investment platform said that the "compelling" case for investing in smaller companies in the º£½ÇÊÓƵ has been somewhat overlooked by investors, as it predicted a rally for the FTSE small cap sector.
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BGF commits £100m to back Welsh high-growth potential firms
Deals
Launched in 2011 it has to date made £47m worth of equity investments into Welsh firms
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º£½ÇÊÓƵ fintech giants Zopa and Clearscore exceed targets in national cost of living initiative
By City AM
The Fintech Pledge, which includes 57 fintech and tech firms, has exceeded its target of 25m actions to help º£½ÇÊÓƵ consumers improve their financial resilience
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Welsh building societies want clarity on the future of cash ISAs
Finance
Principality and Swansea building societies have warned against any diversion between what people can invest in cash versus stocks and shares ISAs
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New £80m funding pot to support SMEs in Midlands and North
Finance
British Business Bank and West Midlands Pension Fund supporting new debt finance vehicle
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People on the move: key North East appointments and promotions
Appointments
Companies featuring in this week's round-up include Muckle LLP, Seriös Group, Ward Hadaway, CT, Mediaworks and The Entrepreneurs' Forum
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Dozens of º£½ÇÊÓƵ banks set to close next month – see how your local high street is affected
Professional Services
Interactive map shows where branches will shut
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AJ Bell shares leap as investors flock to give it £3.3bn boost
By City AM
The Salford-headquartered group's assets under administration have hit a new peak of £90.4bn, buoyed by investors injecting £3.3bn and the firm benefiting from £600m of favourable market movements.
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Pride Cymru confirm Principality Building Society as main sponsor for third consecutive year
LGBTQ+
This year's Pride weekend event will be staged next month
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Jones Hargreaves announce promotions at its Cardiff and Bristol offices
Appointments
It comes on the back of a strong trading performance for the commercial building consultancy
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Investec profit soars to more than £1bn as lending and deposits rise
By City AM
The FTSE 250 bank posted a 7.8% annual rise in operating profit to just over £1bn for the year to March 31, 2025, which beat its own upgraded forecast in March
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HSBC staff warned their bonuses will be slashed if they don't return to the office
By City AM
The º£½ÇÊÓƵ-based bank has told all staff in retail and domestic commercial arm that they could be paid less if they don't follow the firm's three-day minimum requirement to work in the office
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Angela Rayner pushed for £4bn tax raid on savers in lead up to Spring Statement
By City AM
Angela Rayner reportedly pushed for a £4bn tax raid on wealthier Brits in the lead up to the Spring Statement in signs of a senior Cabinet level split on economic policy
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The new Welsh-based consultancy supporting firms to scale-up
Deals
Cardiff-based Tailwind has been launched by Nigel Griffiths, Angharad Neagle and Matthew Tossell
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East Midlands law firm expands with Birmingham office launch
West Midlands
Michael Cummins is a niche employment law firm and plans further new openings following Birmingham debut
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Lloyds Banking Group boss grilled over motor finance scandal
By City AM
Chief executive Charlie Nunn said the bank had not seen "evidence of harm" from its operation in the motor finance market, but had made provisions for a potential Supreme Court ruling
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Nearly half of º£½ÇÊÓƵ millennials to invest in crypto amid fears of market turmoil
By City AM
A new EY report has revealed that nearly half of º£½ÇÊÓƵ millennials are planning to invest in digital assets such as cryptocurrencies in their investment portfolios
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Almost 60% of º£½ÇÊÓƵ investors think gold will increase in value in the next 12 months
Banking & Finance
Investors are increasingly turning to gold as a safe haven asset which is exempt from capital gains tax, according to a new survey
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Deloitte to create 40 new skilled jobs in Newcastle with launch of new technology centre
Employment
The accountancy firm is launching four technology delivery centres across the º£½ÇÊÓƵ, in Newcastle, Belfast, Cardiff and Manchester
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Revolut selects Paris for new Western Europe HQ with €1bn investment plan
By City AM
The fast-growing fintech firm will make Paris its new Western Europe headquarters
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Natwest and Lloyds to cash in as Chancellor hints at ring-fencing reform
By City AM
Rachel Reeves has told top bank bosses she is "open-minded" to ditch the ring-fencing regime imposed on major banks, after HSBC, Lloyds, Natwest and Santander lobbied her to scrap the 15-year-old legislation last month
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Growing law firm launches new North East regional hub in Newcastle
Offices
Fletchers Solicitors says the Newcastle expansion underscores its continued investment in key regions across the º£½ÇÊÓƵ
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By City AMClose Brothers announces strategic shift in lending, prioritising commercial insurance over personal linesThe lender said it would start to focus on insurance products designed for businesses, which the firm said offered better risk-adjusted returns and long-term growth potential
Law firm launches new planning practice in Birmingham
West Midlands
Freeths expands services with plans to grow team in the city
The latest acquisition and equity investment deals in Wales
Banking & Finance
Firms featured include Amotio, Draig Therapeutics, Ceryx Medical, Pink Storage and B Fit Group.
Newcastle Building Society opposes closure trend with new city centre branch
Professional Services
The building on the city's Grainger Street has undergone a significant refurbishment over the last two years
Accountancy firm Bishop Fleming opens Exeter office
Offices
The new office is the second-largest in the company's network and employs more than 100 staff
By City AMClose Brothers announces strategic shift in lending, prioritising commercial insurance over personal linesThe lender said it would start to focus on insurance products designed for businesses, which the firm said offered better risk-adjusted returns and long-term growth potential
Accountancy firm Bishop Fleming opens Exeter office
Offices
The new office is the second-largest in the company's network and employs more than 100 staff
The latest acquisition and equity investment deals in Wales
Banking & Finance
Firms featured include Amotio, Draig Therapeutics, Ceryx Medical, Pink Storage and B Fit Group.
Law firm launches new planning practice in Birmingham
West Midlands
Freeths expands services with plans to grow team in the city
Revolut launches stocks and shares ISAs, partners with top fund managers for º£½ÇÊÓƵ customers
By City AM
The digital banking giant has expanded its investment offering into stocks and shares ISAs for º£½ÇÊÓƵ customers
By City AMFTSE 100 darling Rolls-Royce set to smash through latest milestoneRolls-Royce shares are set to be worth £10 each for the first time in the next few weeks
Close Brothers announces strategic shift in lending, prioritising commercial insurance over personal lines
By City AM
The lender said it would start to focus on insurance products designed for businesses, which the firm said offered better risk-adjusted returns and long-term growth potential
Hovis losses widen amid ongoing merger talks with Kingsmill owner
By City AM
Bakery group Hovis, which is backed by private equity firm Endless, saw its pre-tax losses increase from £3.6m to £4.7m in the year to 28 September, 2024, new accounts show
US chemical firm Dow confirms 220 jobs losses at Welsh factory
Employment
Chemical giant Dow is closing three parts of its operation including one section in Barry, Vale of Glamorgan
Welsh PR firm Cowshed named the best in the º£½ÇÊÓƵ
Awards
It took the consultancy of the year award at the Excellence Awards from industry body the CIPR
Economic DevelopmentCouncil won't object to Bruntwood plans for 163 homes at Booths ParkKnutsford Town Council decision came despite opposition from residents
º£½ÇÊÓƵ's 'digital economy' is a 'digital illusion' with firms using outdated tech
By City AM
A new report has warned that the º£½ÇÊÓƵ's digital economy is at risk because businesses are still relying on outdated, paper-based verification processes
Oldham greenbelt housing project with 1,500 homes: public consultation opens
Economic Development
The Broadbent Moss and Beal Valley project, near Shaw, would see properties constructed on three green spaces
Record passenger and revenue numbers boost holiday firm Jet2
Leisure & Touism
The Leeds-based firm said many people were booking holidays close to their departure date
Rio Tinto's dealmaking hunt brings back memories of disastrous takeovers
By City AM
Exclusive: The mining industry is well-known for its dealmaking obsession and Rio Tinto was one of the worst offenders with a series of disastrous takeovers