City of London Group

Business update in light of COVID-19

The Company today announces a business update.

The Company has in place measures and infrastructure to allow its staff to work effectively from home over an extended period. Measures have been taken to reflect the reduction in business volumes in certain of the group businesses.

COLG’s subsidiary, Recognise, is progressing with its application to the PRA for a banking licence.  It hopes to receive its Authorisation as a Bank with Restrictions later in the year. Please read the full announcement here.