parties are scrapped and the bells ring as the UK financial sector pays tribute
“Following the announcement of the death of Her Majesty The Queen on September 8, the FCA, like other public bodies, is now observing a period of mourning,” the watchdog said.
“During the mourning period, we will only be releasing business-critical updates.”
Dozens of senior City officials, industry associations and the London Stock Exchange have flooded social media to express their condolences and pay tribute to the Queen’s unprecedented 70-year reign.
HSBC Chief Executive Noel Quinn has signed a book of condolences at the British High Commission in New Delhi, a post on professional networking site LinkedIn showed.
Charlie Nunn, chief executive of Lloyds Banking, recalled a meeting last October with King Charles III on the same platform, describing the new monarch’s ‘passion and knowledge’ and ‘deep sense of duty’ as qualities who would “serve him and our nation well”. in his new role.
The British divisions of European banks also marked the event. Tiina Lee, UK chief executive of Germany’s Deutsche Bank, said the late Queen was “a powerful symbol of duty and steadfastness in an ever-changing world”.
UK financial sector staff are due to observe a bank holiday on September 19, when the Queen’s funeral is due to take place at Westminster Abbey in London.
The London Stock Exchange will be closed that day, as will the city’s historic insurance market, Lloyd’s of London.
Lloyd’s held two minutes of silence and rang its so-called Lutine bell on its subscription floor to mark the Queen’s death on Thursday evening (Friday AEST). The bell was traditionally rung once when a ship was lost at sea.
Lloyd’s could also ring twice to welcome King Charles III later this week, a spokesman said.
Market Chairman Bruce Carnegie-Brown and Chief Executive John Neal also canceled their attendance at the regular reinsurance industry conference in Monte Carlo, which started on September 10.
Coutts Private Bank, which had long counted the Royal Family among its customers and was known as the ‘Queen’s Bank’, said it had removed the Coutts flag which flew above its head office on the London Strand near Trafalgar Square as a sign of respect.
A Union Jack flag flies above the half-mast building instead, and a book of condolences will be set up inside for customers and staff to write messages, the bank said on its website.
Alison Rose, chief executive of Coutts’ parent company NatWest, shared her condolences in a LinkedIn post, adding that she was personally inspired by King Charles’ “genuine passion for the environment”.
British lender Barclays held its annual three-day financial conference in New York on Monday (Tuesday AEST), attended by executives from Goldman Sachs, JPMorgan, Citi and Bank of America.
Addressing delegates, Barclays chief executive CS Venkatakrishnan said the bank had noted the Queen’s passing “with sadness”.
“Somebody take that leadership position at 25 and do a great job for 70 years – because anyone who follows leadership knows how difficult it is,” he said.
The British branch of Spain’s largest bank, Banco Santander, has decided to cancel an aperitif for members of the media on Tuesday (Wednesday AEST), as a mark of respect. Wealth management firm Evelyn Partners also announced it was postponing a similar event it was due to hold on Wednesday.
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