Capital Markets Corporate

July 22, 2021

Our Weekly Newsletter

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Across Instinctif Partners’ Financial Services team, we are always keeping an eye on the key developments taking place across the sector to evaluate their impact on the many businesses we work with. Here we share our picks of the week’s most interesting news, and our expert views.

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Women make up nearly a third of financial service firm boards

Research from think tank New Financial has found the proportion of women on boards at 200 of Britain’s top financial firms increased to nearly a third in the five years since HM Treasury launched the Women in Finance Charter. Reviewing the impact of the charter, an initiative to improve gender balance in the sector, female representation on company boards rose from 23% to 32%. (From Reuters, 19th July 2021)

Younger buyers back building homes on the green belt 

Young people are much more likely to support building homes on the green belt than older generations, a survey by Bright Blue has shown. More than two-thirds 67 of adults under-35 supported development on the green belt, compared to only 39% of over-55s. It is noted that the Environment Bill, which is currently going through parliament, includes the point that developers will have to prove a 10% “biodiversity net gain” on projects. (From The Times, 19th July 2021)

FCA outlines expectation of fair value for investors 

In the Financial Conduct Authority’s Business Plan for 2021/22, it outlined that it expects firms to offer investors products which are fair value. In the document, it outlines how the FCA expects fair, clear and not misleading marketing and disclosures for these products too. (From Money Marketing, 16th July 2021)

UK fintech sector hits multibillion-pound peak of investor interest

The UK fintech sector has hit a multibillion-pound peak of investor interest, with British fintech firms generating increased investor appetite; particularly from the private sector. Banking app Revolut confirmed last week that it had raised another $800m from big investors including the Softbank Vision Fund, pushing the bank’s valuation to $33bn (£24bn). The announcement came just weeks after Wise, the forex transfer business, listed on the London Stock Exchange at nearly £9bn. (From The Guardian, 20th July 2021)

Robinhood pursues $35bn valuation in stock market debut 

Online trading platform Robinhood is hoping to be valued at up to $35bn when it floats on the Nasdaq Stock Exchange. The group intends to raise $2.3bn from offering 55 million shares up to $42 each to investors. Founders Vladimir Tenev and Baiju Bhatt and CFO Jason Warnick will put over 2.6 million shares on the market, but will still hold two-thirds of the voting power following the IPO. Founded eight years ago with the aim to democratise finance for all, Robinhood has a massive millennial and Gen-Z following, offering zero-commission trading in stocks, cryptocurrencies, and exchange-traded funds. (From This is Money, 20th July 2021)

 

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