Relieved investors piled into sterling as soon as exit polls last night showed the Tories were on track to win a decisive majority in the House of Commons. This breaks down barriers to Brexit - though wealth managers say there remains much to do in negotiations. The result was also a blunt repudiation of the hard-left agenda of Labour's Jeremy Corbyn.
The bank has given the red card to coal-fired power plants, cutting off the financial spigot. A number of financial institutions have taken the same course and campaigners are calling for more lenders to end such financing.
The wealth management head of the bank has set out its strategy, as part of a wider reaffirmation of goals from different arms of the group. The lender is de-risking its business, cutting certain functions and adding considerably to the wealth management side. As previously announced, it is adding hundreds of client-facing roles to its wealth arm. The bank also won regulatory relief from the ECB.
The data tracking and analytics organisation has provided exclusive figures about the trend of IPO capital-raising, which are important liquidity events; we are working exclusively with a data firm to obtain details about where IPOs are held and how much capital they raise.
The bank has, however, been fined for shortcomings in its control environment. The ruling in general will be a relief for a bank that has had more than its fair share of challenges in recent years. The story highlights how tax evasion and money laundering remain high on policymakers' agendas in certain countries.
M&G has had to temporarily suspend a property fund before in order to stem rapid exits, and also because of Brexit. The wealth industry has been reminded of liquidity/investment mismatches with a string of problems in recent months. The developments are also prompting regulators to take a closer look, possibly leading to new rules over the sector.
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