TEAM Asset Management’s global weekly market review for week commencing 23rd October. TEAM Asset Management is a Jersey-based independent asset management company of AIM-listed parent, TEAM plc (LON:TEAM).
UK banks reported their third quarter outcomes which have had many investors scurrying for the exit. NatWest Group was the standout with its shares falling 15% on the day of its announcement. It guided its annual net interest income margin lower for 2023 as depositors are now being rewarded with more interest.
TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.