Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
There’s change afoot at the top of Metro Bank [LON:MTRO] this morning, with news that Chairman Vernon Hill is to step aside. He will take up an honorary role of Emeritus Chairman as the business looks to the future, following its struggles to get a bond issue away in recent months.
Wealth managers Quilter [LON:QLT] have published a third quarter trading update this morning., showing sales slipping against the corresponding period a year ago and net client cash positions declining. The headline AUM picture has however risen, supported by positive portfolio valuations and the company had predicted this would be a challenging three months of trading following the loss of a cohort of investment managers.
The war of words continues between Sports Direct [LON:SPD] and Goals Soccer Centre following the decision of Mike Ashley’s firm to walk away from any attempt to rescue the ailing operator of 5-a-side pitches. The detail is arguably secondary here, but Sports Direct’s assertion that another UK listed company has failed, wiping out shareholders because the current regulations aren’t fit for purpose, is perhaps the most compelling point.