City of London published its interim results yesterday morning, covering 1HFY2018. The headline figures were given in January’s trading statement. As of 31 January 2018, FUM had risen to $5.8bn, although we note that the market weakness since then has probably pushed this back to closer to $5.5bn. Cash balances have risen to £15.6m, a 49% increase over the same figure a year ago. A new Deputy CEO has been appointed, with the existing COO Tom Griffith now working alongside Barry Olliff as the latter moves towards retirement at the end of 2019.
