Simon Clark
Wall Street Journal
United Kingdom
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Past articles by Simon:
HSBC Fined $85 Million for Lax Anti-Money-Laundering Controls
The U.K.’s Financial Conduct Authority fined the lender for weak oversight between 2010 and 2018. HSBC didn’t dispute the regulator’s findings, which meant it got a 30% discount on the fine. → Read More
U.K. Looks to Compete on Financial Regulation
London wants to regain the mantle of the world’s busiest financial center from New York by overhauling how banks and other financial firms are regulated after Brexit. → Read More
JPMorgan, Goldman Sachs Assigned Higher Capital Buffers
Global financial regulators boosted capital requirements for JPMorgan, Goldman Sachs and BNP Paribas under rules intended to help avoid a repeat of the 2008 global financial crisis. → Read More
Barclays CEO Jes Staley Steps Down Over Relationship With Jeffrey Epstein
Jes Staley stepped down as chief executive of Barclays under pressure from regulators about how he characterized his relationship with convicted sex offender and financier Jeffrey Epstein. → Read More
Barclays Profit Rises on Investment Banking
The London-based lender said its net profit rose in the third quarter, driven by a continued strong performance at its investment bank. → Read More
Banks Promised to Cut Funding for Arctic Oil Drilling. Money Flowed Anyway.
Some investors say lenders’ pledges on Arctic drilling contain loopholes. → Read More
Green Horizons Emerge for Downtrodden Bank Stocks
European banks such as Barclays and Deutsche Bank say lending to environmentally minded companies is the future. Some analysts think the strategy could pay off for their share prices, which have lagged behind faster-growing U.S. rivals for years. → Read More
Big European Banks Get Prodded on Climate Promises
Investor activist group ShareAction says many lenders are lagging in their commitment to cut financing to carbon polluters. → Read More
Visa Buys Swedish Fintech Tink for More Than $2 Billion
Acquiring the startup would give Visa a foothold in the fast-growing business of open banking, which connects consumers to multiple financial institutions. → Read More
HSBC to Take $3 Billion in Losses on Sale of Troubled French Bank
A lender controlled by private-equity firm Cerberus will buy HSBC’s French retail operations for a symbolic price of one euro, in a sign of the souring fortunes of European banking. → Read More
Central Banks Jump Into Climate-Change Policy Fray
Regulators are focusing on risks to financial systems and economies. Some say they are going beyond their remits. → Read More
Barclays Activist Investor Edward Bramson Sells Entire Stake
Edward Bramson’s Sherborne Investors said it sold its entire stake in Barclays, giving up on a yearslong activist campaign to restructure the British bank with a major Wall Street presence. → Read More
Barclays Profit Surges on Strong Equities Trading
The bank said net profit more than doubled as equities trading revenue surged and the U.K. economy started to recover from the ravages of the coronavirus pandemic. → Read More
Credit Suisse’s $5.5 Billion Archegos Hit Enters Big League of Bank Losses
The Swiss bank’s stumble is close in dollar terms to the losses JPMorgan faced from the “London whale” trade almost a decade ago. → Read More
Why Barclays Is One of the Year’s Best-Performing Bank Stocks
Activity in the U.K. lender’s investment banking arm is spurring the recovery, a vindication for Chief Executive Jes Staley. → Read More
HSBC to move top bankers to Hong Kong as Asia focus sharpens
‘I want more of our global executive team to be located in key growth regions,’ chief executive Noel Quinn wrote. → Read More
HSBC to Move Top Bankers to Hong Kong as Asia Focus Sharpens
Global banking giant HSBC will move four senior bankers from London to Hong Kong to boost its strategy of refocusing operations on Asia instead of Europe and North America. → Read More
Barclays stocks suffer mini flash crash
Some market participants speculated that a so-called fat finger involving a trader placing an order at the incorrect price or in the wrong size caused the sudden move → Read More
HSBC Searches for China’s Wealthy With an Army of Roaming Bankers
HSBC Holdings has a new plan to find riches in China: it is hiring 3,000 bankers to search prosperous coastal cities for wealthy clients who need advice on insurance and investments. → Read More
HSBC in Talks to Sell French Retail Bank to Cerberus
The London-based bank is withdrawing from retail banking in France as it scales back in Europe and North America and boosts its presence in Asia, where it makes most of its profit. → Read More