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REPORT - BENCHMARKING ESG IN BANKING AND FINANCE

Analysis of the size, growth and penetration of sustainable finance activity in
global markets.

» Read more


REPORT - UNLOCKING THE CAPITAL IN CAPITAL MARKETS

Analysis of the shift in risk appetite & investment away from equities over the
past few decades by UK pension funds.

» Read more


REPORT: HM TREASURY WOMEN IN FINANCE CHARTER – ANNUAL REVIEW 2022

Our sixth Annual Review monitors the progress of signatories against their
Charter commitments and holds them to account against the four Charter
principles. This report offers unique insight into what Charter signatory firms
– from across the financial services industry – are doing to boost the
proportion of women in senior ranks, who has hit and missed their targets, how
they are developing diversity data and their different approaches to hybrid
working.

» Read more


REPORT - BUILDING EU CAPITAL MARKETS FROM THE BOTTOM UP

Analysis of pools of long term capital in the EU with a focus on pensions.

» Read more
 * Report - Benchmarking ESG in banking and finance
 * Report - Unlocking the capital in capital markets
 * Report: HM Treasury Women in Finance Charter – Annual Review 2022
 * Report - Building EU capital markets from the bottom up


PUBLICATIONS


PAPER – FROM BIG BANG 2.0 TO THE EDINBURGH REFORMS



February 2023 • Rebooting UK capital markets post Brexit • by By William Wright
and Maximilian Bierbaum

Depending on your perspective, the Edinburgh Reforms are either ‘a bold
collection of reforms’ (Jeremy Hunt); ‘a missed opportunity’ that is ‘too slow,
too narrow, and too timid’ (The Daily Telegraph); a risky ‘bonfire of burdens on
the City’ (Robert Peston); or ‘an extremely dangerous and wrong path to follow’
(Sir John Vickers). We think the reality is more prosaic.

» Read more


REPORT – FINANCING THE TRANSITION



December 2022 • A reality check on ESG • by Christopher Breen

Energy companies require more than $1 trillion per year in ‘transition finance’
to decarbonise their operations and hit their net zero targets by 2050. This
report shows that transition finance as it stands is a long way short of raising
the required amounts to clean up the energy sector; analyses why transition
finance has not taken off in the same way as green finance; and outlines some
ideas on how issuers, investors, investment banks, and policymakers can move the
dial on transition finance.

» Read more


REPORT – A NEW NARRATIVE: HOW (NOT) TO TALK ABOUT BANKING AND FINANCE



November 2022 • Making a better case for capital markets • by William Wright

A rough guide to how (not) to talk about banking, finance, and capital markets.

» Read more


REPORT – A REALITY CHECK ON BIG BANG 2.0



November 2022 • The politics of capital markets • by Maximilian Bierbaum and
William Wright

For a few brief weeks, the UK government had a new tone towards financial
services and a new sense of ambition, with a focus on ‘Big Bang 2.0’ and wanting
to turn London into the ‘world’s leading financial centre’. While this
reaffirmed commitment to the sector was welcome, this paper aimed to cut through
some […]

» Read more


REPORT – THE POLITICS OF EU CAPITAL MARKETS



September 2022 • The politics of capital markets • by Christopher Breen,
Maximilian Bierbaum, and William Wright

Analysis of the size, depth and growth potential of capital markets in Europe
through the lens of political challenges.

» Read more


THE MYSTERY OF THE MISSING JOBS IN UK BANKING AND FINANCE



December 2022 • Capital markets • by William Wright

Something funny seems to be going on with the banking and finance industry: the
number of jobs in the ‘jewel in the crown’ of the UK economy is shrinking. As
the industry prepares for ‘Big Bang 2.0’ the number of people employed by the
industry has fallen to its lowest level since shortly after Big Bang 1.0 more
than 35 years ago.

» Read more


REPORT – A REALITY CHECK ON GREEN FINANCE



June 2022 • A reality check on ESG • by Christopher Breen

Analysis of the size, growth and penetration of green finance in European
capital markets.

» Read more


REPORT: HM TREASURY WOMEN IN FINANCE CHARTER – ANNUAL REVIEW 2021



June 2022 • Driving diversity • by Yasmine Chinwala, Jennifer Barrow and Sheenam
Singhal

2021 was another big year for the Charter, with a third of signatories due to
hit their targets. While more than three-quarters of the Charter signatories in
this analysis have met or are on track to meet their targets for women in senior
management, the average level of female representation has remained flat – at
33% year-on-year – for the first time.

» Read more


REPORT: PAPER 1: DIVERSITY TOOLKIT FOR INVESTORS



June 2022 • Driving diversity • by Birgit Neu and Yasmine Chinwala

Paper 1: Why do investors need a diversity toolkit?

An introduction to why more corporate diversity reporting is not yet leading to
informed decisions from investors or better outcomes for investee companies, and
what needs to change.

» Read more


REPORT: THE FUTURE OF UK BANKING AND FINANCE



April 2022 • Rebooting UK capital markets post Brexit • by Panagiotis
Asimakopoulos, Christopher Breen and William Wright

This report outlines an ambitious blueprint for the future of UK banking and
finance in three broad areas: rebooting domestic capital markets to enable the
industry to better support the UK economy; improving the international
competitiveness of the UK as an international financial centre; and mapping the
potential role the UK could play in developing global cooperation and
partnerships.

» Read more


REPORT – AN INTRODUCTION TO FINANCIAL HEALTH CHECKS



February 2022 • The Purpose of Finance • by William Wright

This ‘concept paper’ outlines an ambitious initiative to help engage and empower
individuals with their money, improve their financial resilience and financial
literacy – and ultimately drive wider retail participation in capital markets.

» Read more


REPORT: A NEW VISION FOR EU CAPITAL MARKETS



February 2022 • The future of EU capital markets • by Panagiotis Asimakopoulos,
Eivind Friis Hamre & William Wright

This report presents a new vision for EU capital markets and identifies the
potential for game-changing growth to support investment, jobs, and sustainable
growth.  We estimate that an additional 4,800 companies in the EU27 could raise
an extra €535bn per year in the capital markets and that an additional €14tn in
long-term capital could be put to work in the EU economy to help support a
recovery.

» Read more


REPORT: SLOW PROGRESS – THE GENDER PAY GAP IN BANKING & FINANCE



December 2021 • Driving diversity • by Eivind Friis Hamre

This report is a unique analysis of the gender pay gap data at more than 400
firms from across the financial services industry highlights the slow progress
made in tackling its large pay gap and the lack of women in the highest paid
roles.

» Read more


REPORT: THE FUTURE OF EU CAPITAL MARKETS



September 2021 • The future of EU capital markets • by Panagiotis Asimakopoulos,
Eivind Friis Hamre and William Wright

This report analyses EU capital markets from the perspective of strategic
autonomy. It shows that in most areas of activity the EU falls short and there
is a lot of work to be done. Building bigger, better and more integrated capital
markets needs to be an urgent strategic priority to develop sufficient domestic
capacity to finance the EU economy and support a post-Covid recovery, reduce the
EU’s reliance on third countries, and increase its international attractiveness
and global influence.

» Read more


REPORT: HM TREASURY WOMEN IN FINANCE CHARTER – FIVE YEAR REVIEW



July 2021 • Driving diversity • by Yasmine Chinwala, Jennifer Barrow &
Panagiotis Asimakopoulos

Five years since the launch of the Women in Finance Charter, this report
assesses its impact on female representation and the wider diversity and
inclusion agenda at signatory firms and across the financial services sector.

» Read more


REPORT: DRIVING GROWTH – THE NEW FINANCIAL GLOBAL FINANCIAL CENTRES INDEX



June 2021 • Capital markets • by Panagiotis Asimakopoulos

Our unique index measures the relative scale of banking and finance in more than
60 markets across more than 40 metrics of domestic and international activity.
It also shows how different financial centres have grown over the past few years
– and sets a benchmark to measure future growth and shifts in activity.



» Read more


REPORT: ACCELERATING BLACK INCLUSION



April 2021 • Driving diversity • by by Yasmine Chinwala & Jennifer Barrow

The Covid 19 pandemic and the murder of George Floyd have exposed racial
inequity, catapulted Black inclusion up the corporate agenda, and created a
sense of urgency to drive change. This qualitative analysis focuses on the
progression of Black colleagues into leadership positions across the UK
financial services industry.

» Read more


BREXIT & THE CITY: THE IMPACT SO FAR



April 2021 • Rebooting UK capital markets post Brexit • by Eivind Friis Hamre &
William Wright

This report highlights the damage that Brexit has already done to the City of
London. More than 440 firms in banking and finance have moved or are moving part
of their business, staff, assets or legal entities from the UK to the EU. While
this is higher than previous estimates, it underestimates the real picture – and
the potential longer term impact.

» Read more


NEW FINANCIAL SUMMARY – THE UK REGULATORS’ DISCUSSION PAPER “DIVERSITY AND
INCLUSION IN THE FINANCIAL SECTOR”



July 2021 • Driving diversity • by New Financial

In July 2021, the UK’s Financial Conduct Authority, Prudential Regulation
Authority and the Bank of England together published a discussion paper
entitled: Diversity and inclusion in the financial sector – working together to
drive change. The discussion paper outlines the regulators’ proposal to set
rules and guidance for all regulated firms on D&I issues, and […]

» Read more


REPORT: THE PROBLEM WITH EUROPEAN STOCK MARKETS



March 2021 • The future of EU capital markets • by William Wright & Eivind Friis
Hamre

At a time when the European economy needs bigger and better equity markets more
than ever to help support a post-Covid recovery, this short paper analyses of
one of the biggest barriers to growth: the complex patchwork of European stock
markets, stock exchanges and post-trade infrastructure.

» Read more


REPORT: HM TREASURY WOMEN IN FINANCE CHARTER – ANNUAL REVIEW 2020



March 2021 • Driving diversity • by by Yasmine Chinwala, Jenny Barrow & Shruti
Deb

Five years since the UK Government launched the HM Treasury Women in Finance
Charter, signatories faced their biggest test yet as the pandemic struck in
2020. This fourth Annual Review analyses the largest cohort yet, with data from
209 signatories.

» Read more


REPORT: UNLOCKING PRODUCTIVE INVESTMENT



March 2021 • Rebooting UK capital markets post Brexit • by William Wright

This report shows that while the UK is bursting with over £5.6 trillion in pools
of long-term capital it faces a drought of the sort of long-term productive
investment that the economy needs in the wake of the Covid crisis. Just 1% of
pensions and insurance assets are invested in unlisted UK equities: this report
highlights the barriers to unlocking more of this capital and suggests some
solutions to put more of it to work in the UK economy.

» Read more


REPORT: THE WIDER CONTEXT ON UK PUBLIC EQUITY MARKETS



January 2021 • Capital markets • by William Wright

One of the biggest challenges and opportunities for UK capital markets is how to
reinvigorate the new issue market and to make listing in the UK more attractive
to UK and international companies alike. Our latest paper ‘The wider context on
UK public equity markets’ is our submission to the UK listings review, being led
[…]

» Read more


REPORT: BREXIT & THE CITY: SOME INITIAL REFLECTIONS



January 2021 • Rebooting UK capital markets post Brexit • by William Wright

In the past few weeks, it has been quite surprising to see how many people
appear to be surprised that the UK’s financial services industry / the City
ended up with so little from the Brexit deal, or that there would be an
immediate impact on some parts of the industry. This short paper summarises […]

» Read more


REPORT: WHAT DO EU CAPITAL MARKETS LOOK LIKE ON THE OTHER SIDE OF BREXIT?



December 2020 • The future of EU capital markets • by Panagiotis Asimakopoulos

This report shows that post-Brexit capital markets in the EU will be
significantly smaller and less developed relative to GDP than they are today –
and that the UK’s current dominance of EU capital markets activity will be
replaced by the dominance of France and Germany.  The report also raises some
difficult questions over the future relationship between the EU and UK in key
sectors.

» Read more


REPORT: A REALITY CHECK ON CAPITAL MARKETS UNION



November 2020 • The future of EU capital markets • by Panagiotis Asimakopoulos
and William Wright

This report analyses the development of EU capital markets since the conception
of the capital markets union initiative and shows that while steady progress has
been made at an overall EU level, growth has been patchy and there is still a
lot of work to be done in individual member states.

» Read more


REPORT: BEYOND BREXIT – THE FUTURE OF UK BANKING & FINANCE



October 2020 • Rebooting UK capital markets post Brexit • by Panagiotis
Asimakopoulos, Manuel Haymoz & William Wright

This report analyses the shifting trends in European and global markets and
identifies the big strategic choices the UK will need to make in the coming
years on the future of banking and finance, capital markets, and the City of
London.

» Read more


REPORT: COVID AND D&I – TIME FOR RADICAL ACTION



September 2020 • Driving diversity • by Yasmine Chinwala and Jennifer Barrow

How the Covid crisis is catalysing a step change in diversity and inclusion
across the financial services industry.

The Covid crisis presents huge challenges – but there are also opportunities. It
has propelled the diversity and inclusion agenda to the fore like never before,
and shown us that rapid change is possible, desirable, and necessary.

» Read more


REPORT: EU CAPITAL MARKETS & A POST-COVID RECOVERY



September 2020 • The future of EU capital markets • by Panagiotis Asimakopoulos
& Eivind Friis Hamre

This report analyses how banks and capital markets have responded to the
Covid-19 crisis and identifies the potential for game-changing growth in EU
capital markets to support investment, jobs, and growth.  We estimate that an
additional 4,000 companies could raise an extra €470bn per year in the capital
markets, and that an additional €11 trillion in long-term capital could be put
to work to support a recovery.

» Read more


REPORT: HM TREASURY WOMEN IN FINANCE CHARTER: ANNUAL REVIEW 2019



June 2020 • Driving diversity • by Yasmine Chinwala, Manuel Haymoz and Jenny
Barrow

This third Annual Review analyses the largest cohort yet, with data from 187
signatories. Progress is steady – four out of five have met or are on track to
meet their targets for female representation in senior management.

» Read more


REPORT: THE VALUE OF CAPITAL MARKETS TO THE UK ECONOMY



May 2020 • Rebooting UK capital markets post Brexit • by William Wright & Eivind
Friis Hamre

This report shows that capital markets have a vital role to play in supporting
the UK economy through the Covid crisis and driving a recovery.  The report
identifies 1,000 large UK companies that use the capital markets to support
their day-to-day business, raise capital, or manage their risks. These companies
employ nearly six million people in the UK and represent nearly 90% of UK firms
with revenues of more than £200m.

» Read more


NEW FINANCIAL PARTNER RECEIVES OBE FOR SERVICES TO HM TREASURY WOMEN IN FINANCE
CHARTER



October 2020 • Driving diversity • by New Financial

We are delighted that Yasmine Chinwala, a partner at New Financial and head of
our diversity programme, has been awarded an OBE for services to the HM Treasury
Women in Finance Charter in the Queen’s birthday honours list. New Financial is
the official data partner to HM Treasury on the Women in Finance Charter and […]

» Read more


COVID CRISIS: HOW BANKING & FINANCE CAN BE PART OF THE SOLUTION



April 2020 • The Purpose of Finance • by William Wright

The banking and finance industry can be part of the solution to the Covid
crisis, but how the industry responds and how it behaves in the next few weeks
and months will define its relationship with government and society for the next
decade. This short paper summarises 10 things that the industry should and
should not be doing right now.

» Read more


REPORT: A REALITY CHECK ON EQUIVALENCE



February 2020 • Brexit • by Panagiotis Asimakopoulos & William Wright

Over the past few months the debate on equivalence – an arcane but vital part of
the future of the City post-Brexit – has generated as much heat as it has light.
This report cuts through the confusion and summarises how EU equivalence works,
the benefits it provides, the trade-offs it involves, its limitations, what it
is not and what it doesn’t achieve.

» Read more


REPORT: THE CRISIS OF CAPITALISM



December 2019 • Unlocking capital markets • by William Wright & Christian Benson

Few sectors of the economy have been blamed more for fuelling popular anger with
capitalism as banking and finance – and few sectors have as much to lose from
the backlash against it. This report analyses why so many people are so angry,
summarises the main causes of the widespread loss of faith in capitalism over
the past few decades in the form of 10 different types of real and perceived
inequalities, and outlines the main policy responses that have been proposed.

» Read more


REPORT: A NEW SENSE OF URGENCY – THE FUTURE OF CAPITAL MARKETS UNION



November 2019 • The future of EU capital markets • by Panagiotis Asimakopoulos
and William Wright

This report analyses the progress made by the capital markets union project so
far, underlines why Europe needs more capital markets – and why it needs more
integrated capital markets. It outlines a more ambitious and more focused
roadmap for CMU over the next few decades that combines ‘top down’ initiatives
at an EU level and ‘bottom up’ initiatives at a national level to build bigger
and better capital markets.

» Read more


AN UPDATE ON ‘BREXIT & THE CITY – THE IMPACT SO FAR’



October 2019 • Rebooting UK capital markets post Brexit • by Eivind Friis Hamre
& William Wright

This updated report provides the most comprehensive analysis yet of the impact
of Brexit on the City and the wider banking and finance industry. More than 330
firms in banking and finance have moved or are moving business, staff, assets or
legal entities away from the UK to the EU – and these numbers are likely to
increase in the near future.

» Read more


REPORT: WHAT DO EU CAPITAL MARKETS LOOK LIKE ON THE OTHER SIDE OF BREXIT?



September 2019 • Rebooting UK capital markets post Brexit • by Panagiotis
Asimakopoulos

This report shows that post-Brexit capital markets in the EU will be
significantly smaller and less developed relative to GDP than they are today.
The UK’s current dominance of EU capital markets activity will be replaced by
the dominance of France and Germany.

» Read more


REPORT: WHAT ARE STOCK EXCHANGES FOR? AND WHY SHOULD WE CARE?



June 2019 • The Purpose of Finance • by by William Wright

This report analyses the changes in the world of stock exchanges, equity markets
and the new issue market over the past 50 years. It highlights the vital role
that stock exchanges play in the economy, analyses the main drivers of the
significant changes over the past few decades – and suggests how we can get
exchanges back on track.

» Read more


REPORT: UNLOCKING THE GROWTH POTENTIAL IN EUROPEAN CAPITAL MARKETS



June 2019 • The future of EU capital markets • by Panagiotis Asimakopoulos &
William Wright

This report outlines an ambitious vision of game-changing growth in European
capital markets. It underlines the wide range in the size and depth of markets
across the EU and highlights the potential benefits of deeper capital markets to
the European economy in concrete and practical terms.

» Read more


DIVERSITY FROM AN INVESTOR’S PERSPECTIVE 2019



May 2019 • Driving diversity • by Olivia Seddon-Daines and Yasmine Chinwala

This report looks at why and how the most forward-looking asset owners (such as
pension funds, insurers and sovereign wealth funds) are addressing diversity and
inclusion.  Their opinions count – as an essential source of capital for
financial markets, the needs and actions of asset owners have a big impact on
how the whole system […]

» Read more


REPORT: BREXIT & THE CITY – THE IMPACT SO FAR



March 2019 • Ecommerce reports • Brexit • by William Wright, Christian Benson &
Eivind Friis Hamre

This report provides the most comprehensive analysis yet of the impact of Brexit
on the City and the wider banking and finance industry. More than 250 firms in
banking and finance have moved or are moving business, staff, assets or legal
entities away from the UK to the EU – and these numbers are likely to increase
significantly in the near future.

 

» Read more


BREXIT & THE CITY: THROWING THE GOLDEN GOOSE UNDER A BUS?



April 2019 • Brexit • by William Wright

The City may not like the hand it has been dealt by Brexit – but there is a lot
more to it than being hung out to dry by the government Thrown under a bus, hung
out to dry, or sold down the river: you don’t have to look very hard to find a
lot […]

» Read more


REPORT: HM TREASURY WOMEN IN FINANCE CHARTER ANNUAL REVIEW



March 2019 • Driving diversity • by Olivia Seddon-Daines, Jennifer Barrow and
Yasmine Chinwala

Three years since the UK Government launched the HM Treasury Women in Finance
Charter, it is having the desired impact – signatories are taking action to
improve gender diversity and beginning to see positive results, according to New
Financial’s latest research.

» Read more


REPORT: DIVERSITY & CULTURE



January 2019 • Driving diversity • by Olivia Seddon-Daines, Yasmine Chinwala &
Jennifer Barrow

While culture and diversity have both moved up the agenda of the financial
services industry, most firms treat them as distinct issues with discrete
initiatives and separate reporting lines. Our analysis finds diversity and
culture are closely interconnected and that a more holistic approach to both
would yield better – and faster – results. Diversity and Culture analyses the
differences and similarities in how companies approach diversity and culture and
why it matters.

» Read more


REPORT: THE NEW FINANCIAL GLOBAL CAPITAL MARKETS GROWTH INDEX



January 2019 • Unlocking capital markets • by William Wright, Panagiotis
Asimakopoulos & Eivind Friis Hamre

Our unique index analyses the size, depth and growth potential of capital
markets in 60 countries around the world across 25 different sectors of
activity. It shows that capital markets in the US are by far the largest in the
world today and are nearly twice the size of markets in Asia and Europe. But
capital markets in Asia and emerging markets are catching up fast – and are set
to dominate the potential growth in global capital markets in the coming decade.

» Read more


REPORT: THE IMPACT OF CAPITAL MARKETS ON PEOPLE’S EVERYDAY LIVES



October 2018 • Ecommerce reports • The Purpose of Finance • by William Wright,
Christian Benson & Eivind Friis Hamre

This unique report analyses the the impact of capital markets on people’s
everyday lives through the lens of the economy in the North West of England. The
report shows what goes on in the City of London is far more relevant to the
everyday lives of millions of people living in the region than most people in
the City or the North West would expect – and we hope that it encourages the
industry to think differently about its role and impact.

» Read more


REPORT: THE NEW FINANCIAL INTERNATIONAL FINANCIAL CENTRES INDEX



September 2018 • Ecommerce reports • Brexit • by Panagiotis Asimakopoulos

Our unique index measuring the value of domestic and international banking and
financial markets activity across nearly 30 metrics in nearly 50 countries shows
that the US is by far the world’s top financial centre with the UK taking the
second place – well ahead of other European countries.

» Read more


REPORT: DIVERSITY IN PORTFOLIO MANAGEMENT



September 2018 • Driving diversity • by Olivia Seddon-Daines & Yasmine Chinwala

There is broad consensus that diverse voices enhance investment performance by
increasing diversity of thought, which improves decision-making and investment
idea generation while guarding against groupthink. But the industry has a long
road ahead to cultivate the diverse workforce that can bring all these benefits.
This report identifies the practical barriers to diversity in portfolio
management, analyses what individual firms are doing to address these challenges
– and highlights how the industry can work together to accelerate change.

» Read more


REPORT: UNDERSTANDING THE GENDER PAY GAP IN BANKING AND FINANCE



July 2018 • Ecommerce reports • Driving diversity • by William Wright

Our unique analysis of the gender pay gap data at nearly 400 firms from across
the financial services industry highlights the wide range in the pay gap, bonus
gap, and levels of female representation in different sectors of the banking and
finance industry – and sets a benchmark to measure future progress.

» Read more


REPORT: THE SIZE, DEPTH & GROWTH OPPORTUNITY IN UK CAPITAL MARKETS



May 2018 • Ecommerce reports • Unlocking capital markets • by Panagiotis
Asimakopoulos

Capital markets in the UK are the largest in the EU and are roughly twice as
deep relative to the size of the economy as in the rest of the EU. But there is
plenty of scope for growth and no room for complacency: UK capital markets are
only half as developed as in the US, and over the past decade this gap has
widened.

» Read more


REPORT: WHAT IS THE PURPOSE OF ASSET MANAGEMENT?



April 2018 • The Purpose of Finance • by William Wright

The asset management industry is a huge, important and growing industry, that
plays a vital economic and societal role in managing risk and return for its
customers and in allocating capital. But it can often be distracted from its
underlying purpose of serving is customers by the structure of the industry,
misaligned incentives, and its reliance on modern portfolio theory. In an
important recent paper, Jon Lukomnik and Jim Hawley explore the underlying
purpose of asset management, and how to reconnect the industry with that
purpose.

» Read more


REPORT: THE SIZE, DEPTH & GROWTH OPPORTUNITY IN EU CAPITAL MARKETS



March 2018 • Ecommerce reports • Unlocking capital markets • by William Wright &
Panagiotis Asimakopoulos

Most sectors of the capital markets in the EU have shrunk relative to the size
of the economy over the past decade – and the gap in the depth of capital
markets with the US has widened. This report highlights the urgent need for
action to boost capital markets in the EU – particularly after Brexit –
but shows that there is a huge growth opportunity for capital markets in Europe.

» Read more


REPORT: HM TREASURY WOMEN IN FINANCE CHARTER ANNUAL REVIEW



March 2018 • Driving diversity • by Yasmine Chinwala & Olivia Seddon-Daines

The UK government launched the HM Treasury Women in Finance Charter in March
2016 to encourage the financial industry to improve gender balance in senior
management. This report is the first annual review of signatories to monitor
their progress against their Charter commitments over the past year. And while
they are off to an encouraging start – 85% have either met their targets or are
on track to meet them – progress has so far been slow.

» Read more


A NEW YEAR REHAB PROGRAMME FOR THE CITY OF LONDON



January 2018 • Unlocking capital markets • by William Wright

The recent attack on the City by the Labour leader Jeremy Corbyn – and the
public comments by a bank chief executive on bankers’ bonuses and populism –
show that 10 years on from the financial there are few signs of mistrust and
anger with the industry going away. If the industry wants to bridge the gap with
the rest of society it should start by talking about itself in a different way.

» Read more


REPORT: A TRANSITION TO BREXIT – DEAL OR NO DEAL?



November 2017 • Brexit • by William Wright & Panagiotis Asimakopoulos

The main benefit of a transition period is that it would reduce the risk of a
‘cliff-edge’ Brexit and buy more time for the UK and EU to negotiate a better
long-term deal, but we think it is unlikely that any agreement can be reached
early enough to prevent firms relocating significant numbers of staff.  The good
news is that an agreement on a transition period would be possible later next
year – but only if the UK government changes direction in its negotiation
strategy, and soon.

» Read more


REPORT: DIVERSITY FROM AN INVESTOR’S PERSPECTIVE



October 2017 • Ecommerce reports • Driving diversity • by Olivia Seddon-Daines &
Yasmine Chinwala

Diversity is firmly on the corporate agenda. New Financial’s latest report 
looks for the first time at what asset owners (such as pension funds, insurers
and sovereign wealth funds) are doing on the diversity front. We analysed 100
asset owners globally with combined assets of $8 trillion to find out why and
how they are approaching diversity – and how this affects asset managers.

» Read more


REPORT: A DECADE OF CHANGE IN CAPITAL MARKETS



October 2017 • Ecommerce reports • Unlocking capital markets • by William Wright
& Panagiotis Asimakopoulos

The shadow of the financial crisis has dominated the banking and finance
industry for nearly a decade. This report measures the concrete impact of the
crisis on 16 sectors of the capital markets industry – from investment banks and
asset managers, to exchanges, trading volumes and regulation – and highlights
which sectors have suffered, which have weathered the storm, and which have
flourished.

» Read more


BREXIT & THE CITY: MISSING THE BIGGER PICTURE ON JOBS

September 2017 • Brexit • by William Wright

Brexit could have a significant impact on recruitment and jobs in the City of
London – not least by highlighting structural challenges that will have a far
bigger impact on the industry in the longer-term Another week, another set of
numbers that send completely contradictory messages about the impact of Brexit
on the City of […]

» Read more


CMU 2.0: WHAT NEXT FOR CAPITAL MARKETS UNION?



July 2017 • Unlocking capital markets • by William Wright

Capital markets union, the EU’s flagship initiative to boost capital markets in
Europe and reduce the economy’s reliance on bank lending is three years old.
This report analyses the progress so far, the impact of Brexit, and the shift in
direction in CMU 2.0, (the revised version of the project that was published
last month) – and suggests some more radical longer-term measures to build
bigger and better capital markets in Europe.

» Read more


HM TREASURY WOMEN IN FINANCE CHARTER: SIGNATORIES SURVEY 2017



July 2017 • Driving diversity • by Yasmine Chinwala

HM Treasury’s Women in Finance Charter launched in March 2016 and now has more
than 140 signatories. Our latest report is based on a survey of more than 80
firms that have signed up and assesses the concrete impact of the Charter is
having on how they approach diversity, the benefits they are experiencing – and
the challenges they face in meeting their Charter commitments.

» Read more


COUNTING EVERY WOMAN 2017: MAKING PROGRESS ON GENDER DIVERSITY IN THE CAPITAL
MARKETS



June 2017 • Driving diversity • by Yasmine Chinwala

The debate around gender diversity at the most senior levels in the corporate
world has shot up the agenda in recent years – but for all the talk, how much
progress has been made in the financial services sector? New Financial’s latest
research on female representation on boards and executive committees across
European capital markets shows a significant improvement in female
representation on boards and excos – and the numbers are heading in the right
direction across the industry.

» Read more


‘WHAT THE REST OF THE EU THINKS ABOUT BREXIT & THE CITY OF LONDON’



April 2017 • Brexit • by Panagiotis Asimakopoulos & William Wright

Much of the debate around the impact of Brexit on the City of London and the
financial services industry across Europe has been UK-centric. So we’ve read,
sifted and summarised hundreds of speeches, articles and reports to identify
what the rest of the EU really think about it. This report summarises the main
priorities, concerns and negotiating positions of policymakers and regulators in
each of the 27 member states who will be  on the other side of the negotiating
table from the UK over the next few years – and sums up what’s at stake.

» Read more


REPORT ON ‘WHAT HAVE THE CAPITAL MARKETS EVER DONE FOR US? AND HOW COULD THEY DO
IT BETTER?’



March 2017 • The Purpose of Finance • by William Wright

To people who work in and around the financial industry it is self-evident that
capital markets play a vital role in channelling investment into the economy to
help drive growth and prosperity. But to most people outside of the industry,
what capital markets do and the value of what they provide is less obvious,
particularly given the shadow of the financial crisis. This report aims to
address that disconnect.

» Read more


BREXIT AND THE CITY: A 10-POINT REALITY CHECK

February 2017 • Brexit • by William Wright

The problem with chasing your tail is that you can lose sight of where you are
heading without getting any closer to where you want to be.  Over the past six
months much of the City of London and financial services industry in the UK has
been locked in an often circular argument about the potential impact of Brexit
on their business and how to adapt to it. Here is a short 10-point reality check
on the impact of Brexit.

» Read more


ABOUT US

New Financial is a think tank launched in 2014 that believes Europe needs bigger
and better capital markets - and that this presents a huge opportunity for the
industry and its customers to embrace change and rethink how capital markets
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