Tagged: gli finance

GLI Finance Appoints New COO

GLI Finance (LSE:GLIF) has announced a change in senior management. Russell Harte, Chief Operating Officer, will be leaving GLI on July 1st, 2017. Aaron Le Cornu, most recently CFO of Elian, will then replace Harte as Chief Operating Officer. Le Cornu’s role will include both GLI… Read More

Louise Beaumont Departs GLI for Open Bank Working Group

Louise Beaumont, the long-time Head of Public Affairs & Marketing of GLI Finance has departed the firm. According to her LinkedIn profile, Beaumont has taken a position as Vice-Chair of the Open Bank Working Group. Beaumont has been an outspoken advocate of alternative finance and the… Read More

GLI Finance Releases H1 2016 Results as WriteDowns Drive Loss

GLI Finance (LSE:GLIF), a diversified portfolio company focusing on alternative finance, has published its 6-month report for 2016.  The financial results show a a £6.9 million loss from a £5.3 million profit year on year. The loss included £12.9 million in writedowns on investments. GLI’s net asset… Read More

FCA Call for Input on Crowdfunding Closes. Industry Awaits Final Report

The Financial Conduct Authority has closed the comment period regarding its request for feedback regarding post-implementation review of FCA crowdfunding rules. The initiative covers debt, equity and other securities. The forthcoming publication reviewing existing rules will incorporate the perspective of platforms, consumers and competitors to… Read More

Final Report by CMA on Retail Banking Requires Banks to Implement Open Banking by 2018

“CMA Sticks to its Guns” The Competition and Markets Authority (CMA) has published its final report on the UK retail banking sector. The government initiative has concluded that highstreet banks do not compete enough for customers’ business. Simultaneously, challenger banks find it difficult to compete… Read More

Bank of England Cuts Rates: Alternative Finance Leaders Respond

  The Bank of England (BoE) has cut its benchmark rate by 0.25% – the first time in 7 years. The pound quickly moved lower reacting to the announcement. The move was telegraphed several weeks back in reaction to Brexit fallout. The interest rate cut… Read More

GLI Finance Hires Two Senior Executives

GLI Finance Limited (LSE:GLIF) has announced the hiring of two senior executives.  Russell Harte has been appointed Chief Operating Officer and Steven Simpson has been selected as the Head of Group IT. Andy Whelan, CEO of GLI, released a statement on the addition of the two… Read More

Bank of England Relaxes Capital Requirements, But Have Traditional Banks Fallen Short of Boosting SME Growth in the Past?

Yesterday the Financial Policy Committee (FCP) of the Bank of England relaxed bank capital requirements in a proactive move designed to stave off a looming, Brexit driven slowdown. Bank of England Governor Mark Carney stated; “The UK has entered a period of uncertainty and significant… Read More

UK Competition & Markets Authority Publishes Investigation into Retail Banking

The UK Competition and Markets Authority (CMA) has published its anticipated report on the retail banking sector. The document, entitled, “Retail Banking Market Investigation: Provisional Decision on Remedies,” is a 405 page document delivering a deep dive into the challenges of traditional banks. The CMA outlines… Read More

The Innovative Finance ISA is Available Today, Meanwhile Some Large P2P Platforms Wait for FCA Approval

The UK peer-to-peer (P2P) lending industry has been waiting for this day for quite some time. The Innovative Finance ISA (IF ISA) is now available to savers across the country representing a new investment option promoted as driving superior risk adjusted returns for investors.  With… Read More

Bank of England States Lending to SMEs Increases in February, GLI Says Not So Fast as Longer Term Problems are Concealed

The Bank of England has released the monthly statistics regarding lending and according to the BOE lending to non-financial SMEs grew by £0.7 billion compared to an average monthly increase of £0.2 billion over the previous 6 months. Certainly an improvement.  Louise Beaumont, an executive… Read More

GLI Finance Releases Annual Results for Year of Change

Following a year of change where senior management was replaced and Andy Whelan was appointed CEO of the company, GLI Finance (LSE:GLIF) has published annual results as it seeks to “materially strengthen the long term cash generation potential for GLI Finance”. Patrick Firth, Chairman of GLI… Read More

 View from the UK: Why the Alternative Finance Industry Needs Greater Regulation

  The global alternative finance industry has undergone staggering growth in recent years. In 2015 combined market activity in the UK grew 84% from £1.74bn the year before to £3.2bn. Around 20,000 SMEs raised approximately £2.2bn in funding through online channels, representing a year-on-year growth… Read More

Funding Options Recommended for Bank Referral Scheme

Funding Options, a one-stop shop for SME finance, has been recommended for designation for the Bank Referral Scheme. Funding Options is a portfolio company of GLI Finance, an AIM listed company that controls multiple alternative finance platforms. In the Budget revealed earlier today, the Chancellor… Read More

GLI Finance Says More Needs to be Done to Support UK SMEs

Louise Beaumont, an executive at GLI finance and vocal advocate of small business, says more needs to be done to support UK small business.  Reflecting on the recent statement by the Bank of England and their credit numbers, Beaumont believes the slight increase in lending… Read More

Former FSA Chair Lord Adair Turner Warns About Peer to Peer Lending. Industry Leaders Disagree

In an interview today on BBC, Lord Adair Turner, former Chair of the FSA (predecessor to the FCA), shared his opinion on banking and the financial industry in general, including a discussion on the burgeoning peer to peer lending sector.  Lord Turner, it appears, is… Read More

Ireland Government Talks with GLI Regarding Fund Management Said to Hit Snag

GLI Finance, an alternative finance portfolio company, was apparently queued up to aid the  Irish government in its creation of a fund that would boost non-bank lenders.  According to a report in the Independent, negotiations were “unsuccessful”. GLI apparently declined to comment. The Ireland Strategic… Read More

Beaumont: Chancellor’s Plan for Northern Powerhouse May Be Headed for the Scrap Heap

The National Federation of Self-Employed & Small Businesses (FSB) has released a report that indicates a “growing gap in confidence” between businesses in the North and those in the Midlands and the South. The FSB states businesses in the North risk being left behind. This… Read More

Funding for Lending Extended. GLI Finance Says Program Does Not Solve the Problem

The Bank of England (BOE) announced the extension of the Funding for Lending Scheme (FLS) that was designed to provide easier access to capital for SMEs.  The BoE stated the program will provide lenders with continued certainty over the availability of cheap funding to support lending… Read More

Louise Beaumont of GLI Finance Comments on Autumn Statement

Alongside the Chancellor’s Autumn Statement, there were several associated releases published by the Exchequer’s office.  Louise Beaumont, Head of Public Affairs at GLI Finance and a frequent commenter on policy issues regarding SME’s and the economy, has shared some thoughts regarding specific announcements presented by… Read More