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Financial services

While the usual UK employment laws apply to financial services employers, there are a number of key extra issues for them to deal with.

For example, individuals performing controlled functions must have approved person status, which is obtained by making an application to the Financial Conduct Authority and/or the Prudential Regulation Authority.

XpertHR provides HR information and guidance for employers in financial services.


    • Financial services
    • Gender pay gap
    • Gender

    Goldman Sachs to pay $215m sex discrimination settlement

    by Ashleigh Webber 10 May 2023
    by Ashleigh Webber 10 May 2023

    Goldman Sachs will pay $215m to settle a sex discrimination case brought in the US. It will also review performance and promotion processes.

    • Financial services
    • Working from home
    • Hybrid working

    JPMorgan Chase tells leaders to spend more time in the office

    by Adam McCulloch 13 Apr 2023
    by Adam McCulloch 13 Apr 2023

    Managing directors must work in the office full time, JPMorgan Chase has told staff; Gartner warns against strict return to office policies.

    • Professional services
    • Collective redundancy
    • Financial services

    Accenture to cut 19,000 jobs

    by Adam McCulloch 24 Mar 2023
    by Adam McCulloch 24 Mar 2023

    Consultancy giant plans sweeping job cuts as uncertainty in global markets afflicts clients.

    • Financial services
    • Latest News
    • Tech sector

    Silicon Valley Bank rescue saves thousands of UK jobs

    by Jo Faragher 13 Mar 2023
    by Jo Faragher 13 Mar 2023

    HSBC has come to the rescue of Silicon Valley Bank UK (SVB UK), a business that holds the assets and...

    • Financial services
    • Latest News
    • Bonuses

    Lloyds staff to share biggest bonus pot in four years

    by Jo Faragher 22 Feb 2023
    by Jo Faragher 22 Feb 2023

    Top performing employees at Lloyds Banking Group will share the largest bonus pot in four years.

    • Financial services
    • Latest News
    • Redundancy

    Nationwide Building Society to shed 450 jobs

    by Adam McCulloch 9 Feb 2023
    by Adam McCulloch 9 Feb 2023

    Hundreds of staff at Nationwide, the UK's largest building society, are set to lose their jobs.

    • Financial services
    • Legal sector
    • Workplace culture

    Workplace couture prompts awkward questions

    by Adam McCulloch 3 Feb 2023
    by Adam McCulloch 3 Feb 2023

    A law firm wants its employees to be ‘wildly fabulous’ and dress to impress at work. Meanwhile, an HR firm has delved online to discover the most awkward questions asked by workers.

    • Financial services
    • Latest News
    • Bonuses

    Tesco Bank agrees £1,250 cost-of-living pay hike for employees

    by Adam McCulloch 20 Jan 2023
    by Adam McCulloch 20 Jan 2023

    Tesco's Bank follows other UK banks in offering staff a cost of living pay hike.

    • Financial services
    • Latest News
    • Employment tribunals

    Bank’s chief risk officer dismissed after whistleblowing

    by Ashleigh Webber 3 Jan 2023
    by Ashleigh Webber 3 Jan 2023

    The chief risk officer at the UK arm of a Pakistani bank was unfairly dismissed after whistleblowing, an employment tribunal has found.

    • Four-day week
    • Financial services
    • Latest News

    Atom Bank makes four-day week permanent

    by Jo Faragher 21 Dec 2022
    by Jo Faragher 21 Dec 2022

    Online lender Atom Bank has decided to make its four-day working week permanent after a successful trial.

    • Professional services
    • Financial services
    • Social mobility

    KPMG research shows class the biggest barrier to progression

    by Jo Faragher 19 Dec 2022
    by Jo Faragher 19 Dec 2022

    Class and socio-economic background have a greater impact on someone’s career progression than any other diversity characteristic, according to research.

    • Offices
    • Inflation
    • Professional services

    Energy costs: PwC to close offices over Christmas

    by Jo Faragher 5 Dec 2022
    by Jo Faragher 5 Dec 2022

    Consulting firm PwC will close most of its offices to employees over Christmas to save on energy costs.

    • Financial services
    • Sectors
    • Latest News

    Why equity isn’t equitable when it comes to working for startups

    by Hillary Reilly 29 Nov 2022
    by Hillary Reilly 29 Nov 2022

    Share options aren't all they're cracked up to be, many people working for startups find when they decide to leave.

    • Professional services
    • Financial services
    • Movers and shakers

    Deloitte revamps UK leadership team

    by Adam McCulloch 4 Nov 2022
    by Adam McCulloch 4 Nov 2022

    Professional services giant Deloitte has replaced half of its 16-person UK executive team. In doing so it has reduced the number of women at senior level.

    • Financial services
    • Tax
    • Latest News

    No U-turn on lifting cap on bankers’ bonuses

    by Adam McCulloch 18 Oct 2022
    by Adam McCulloch 18 Oct 2022

    The lifting of the cap on bankers' bonuses, as announced by then-chancellor Kwasi Kwarteng in the mini-budget of 23 September, will go ahead, the Treasury has confirmed.

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