fintech / news / / City A.M.
Harald McPike had lobbied for the group to launch its initial public offering in London.
Starling's main investor Harald McPike is now less supportive of a London IPO.
KEY POINTS
- McPike's frustration with UK regulatory reforms has shifted his preference towards a US listing for Starling.
- Starling is considering acquiring a US lender to secure a banking licence and is accelerating US expansion plans.
- McPike believes recent UK regulatory changes, like raising MREL thresholds, fail to sufficiently support scale-ups.
- Starling suffered a £29m regulatory fine and took a 25 percent profit hit due to Covid loan scheme losses.
COMPANIES
Summarized by Newsio from City A.M.. How we summarize →