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LIBOR is fundamentally flawed and threatens London’s global position

This is a guest post by Financial Services Club alumni Professor Michael Mainelli: One of the most famous security posters of the Second World War read “Loose Lips Sink Ships”. The idea was to curtail careless talk and prevent giving away information to the enemy. The Libor scandal has featured a different problem: too little…

What are the Olympics worth?

So it’s getting towards the stage where London winds down or up for the Olympics, dependent upon your point of view. London is certainly getting more and more confused about the Olympics, with signs all over the underground and on the roads about the Games, with an equal number of drivers and travellers confused about…

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The UK bank crisis has cost at least £5 billion … so far

I just got a press release from HM Treasury which makes for interesting reading: The National Audit Office has today given an update on the financial support provided by the Treasury to the UK banking sector – how much support has been provided, how much is still outstanding and how much it is costing the…

Diamonds are forever …

I wrote a brief summary last Friday about a wholesale need to change the industry and thought that was it … it’s not. I need to write more about this heap of crap the UK banking industry has uncovered (and not just here). First, there’s the question of fixing LIBOR rates.  This has been exposed in…

Celebrate the City weekend

In case you have not noticed, there are loads of free events taking place this weekend across the City, as part of the Celebrate the City weekend. Here's the lowdown: On behalf of the City of London Corporation and the Diocese of London, we are delighted to invite you to Celebrate the City! Together with…

The latest Aussie bank marketing campaigns, honest!

I spent a bit of time reviewing ads for Australia’s banks today. Not because I’m going down under – not that way! – but because National Australia Bank (NAB) keep sending me updates on their marketing efforts. Their latest one is all about honesty … … it builds on their earlier efforts about the breakup and…

Meet Bill Clinton, James Cameron and me!

Just got an invite to an event in July that sounds amazing, www.resource2012.org, and thought it worth noting on the blog for those who can make it.  Nobel prize-winning economist Amartya Sen and film director James Cameron will join President Bill Clinton at Oxford University this summer (12-13 July) for a ground-breaking forum on resource scarcity…

The end of ‘free’ banking

In the 1970s, the UK's Midland Bank introduced a new competitive service – free banking. It wasn’t free of course, but it appeared that way. The idea being that if you stayed in credit, they wouldn’t’ charge you anything. It was a huge success. So much so that Midland acquired many customers from Barclays, NatWest…

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2013 European Payments Research – Free Report Now Available

For the fifth year, the Financial Services Club ran a survey of payments professionals worldwide to see how successfully regulations and technologies are changing the European payments landscape, sponsored by CGI and EBA CLEARING.            The survey ran during the spring of 2013, and was completed by 422 participants across over…

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In finance, facebook is just a phase we’re going through

My grumpiness just got ten times worse at this treasury conference, as I stood up and started talking about how I use facebook, twitter, blogging etc to leverage my business. I could see a veil of abandonment enter the faces of the room as they struggled to get what I was saying, so I asked…

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