Things we're reading today include ...
Today's must read
Finovate 2009 took place this week. Finovate is a great show run by our friends at NetBanker, and showcases the most innovative new providers of financial services solutions. This year's show had a range of innovators demonstrating, including:
Best of show winner was Kasasa.
Kasasa?
Yep.
If interested, they have a blog, facebook and twitter page. Oh yes, and a web page too:
"Kasasa creates free
checking and savings accounts that give back to you in totally new
ways. Do you want to be inspired by your account? Do you want real
choices for your money? If you Kasasa you do."
And if you want to read more about Finovate, Techcrunch gives a great summary.
Other news
Dimon shakes up JPMorgan top team (Financial Times)
JPMorgan overhauls management for successor
(Times)
JPMorgan veteran quits after reshuffle (Times)
EU Competition Commissioner Neelie Kroes warns Lloyds it must reduce its operations
(Telegraph)
RBS fears EU will demand a 'pound of flesh' in return for state funds
(Guardian)
LCH.Clearnet to return €444m in restructuring
(Times)
Gordon Brown: 'City is ideologically bankrupt'
(Telegraph)
US banks could pay $45bn to FDIC
(Financial Times)
Quote of the Day
HSBC lines up deal to sell Docklands headquarters
(Independent)
Why is this headline the Quote of the Day? Because I accidentally tweeted that HSBC was relocating their HQ to HK last week when they announced that Michael Geoghegan, their CEO, was moving office from London to Hong Kong. With this additional news, don't be surprised if they do relocate some time in the future. After all, they have said as much a year ago, just before the crisis hit.
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
