The placement at Fairstone, one of the UK’s largest wealth management groups, is part of a growing partnership between the wealth management group and the school.

Students Austen Williams, who is studying finance and financial technology, and Matteo Antonetti, who is studying finance, are taking part in the internship.

Both have been working at Fairstone’s City of London office, where they have been involved in a range of activities, including client annual reviews, liaising with providers, and drafting letters of authority.

Matteo Antonetti, 24, from Bologna, Italy, said: “I’m really enjoying the experience so far.

“There is a lot to take in, from how the industry works to the dynamics of the office, but people here have been really good, very welcoming and have a lot of time for us.”

Austen Williams, 21, from Kent, said: “Where the office is really makes you feel in the middle of everything.

“Everyone has been very helpful – they’re very approachable which makes it easy to ask people questions and find out more about the business and the industry.”

After completing their placement, the students will write reports on their experience, including research into Fairstone and the wealth management sector.

These reports will contribute towards their final degrees.

Blayne Cooper, head of employer engagement at Henley Business School, said: “This is a great opportunity for both the students and for Fairstone as a business.

“The internship gives students invaluable real-world experience – while theory is important and Henley Business School has a lot of cutting edge thinking, this give students the chance to put that theory into practice.”

Rob McDonnell, performance director for Fairstone’s South region, said: “This is the first time we have had interns from Henley Business School and it’s been a hugely positive experience.

“As a business, we are always keen to help engage and encourage the next generation of wealth management professionals and to share our knowledge and experience with them.”

Fairstone partners with a number of universities, colleges, and schools across the country including Newcastle, Northumbria and Sunderland Universities.

Kevin Waters, head of learning, talent and development at Fairstone, said: “These partnerships provide access to high-potential students and early-career professionals, offering meaningful experiences, learning opportunities, and career pathways that align with organisational objectives.

“Ultimately, partnering with educational institutions is not only about recruitment.

“It is about shaping the future workforce.”

KAREN JOY BACUDO

Finance Editor

UK artificial intelligence companies raised a record £4.56 billion in equity funding in the second quarter, according to Beauhurst. The total accounted for 57% of all UK equity investment by value during the period.

Beauhurst tracked 269 AI fundraising rounds between April and June, accounting for about one in four of the 1,070 UK equity deals recorded across all sectors. The wider market raised £8.01 billion in the quarter.

The £4.56 billion total was 4.1% higher than the previous quarter’s £4.38 billion and 186.8% above the £1.59 billion raised by UK AI companies in the same period a year earlier. It made the quarter the strongest on record for UK AI investment by amount raised.

Data compiled from equity fundraisings into UK companies tagged with artificial intelligence also showed that a small number of large transactions accounted for most of the money invested. Eight AI fundraising rounds of more than £100 million made up almost 80% of disclosed AI investment during the quarter.

Those larger rounds included deals by Isomorphic Labs, Ineffable Intelligence, NScale, PhysicsX and Fractile. The figures may rise further as additional unannounced deals are identified through Companies House filings in the weeks and months after the quarter closes.

Sector split

Life sciences and health attracted the largest share of AI investment by value, with 36 deals raising £1.52 billion. That total was driven mainly by Isomorphic Labs’ £1.47 billion fundraise.

AI infrastructure, compute, and chips ranked second by value, with £986 million raised, led by rounds involving NScale, Fractile and Quantum Motion. Enterprise software, data and automation followed, with £843 million raised from 27 deals.

Financial services, payments and RegTech recorded the highest deal count among the largest categories, with 64 AI fundraisings in the quarter. Industrial AI, robotics and physical systems accounted for 61 deals and £470 million in funding.

The figures add to evidence that investor appetite for AI businesses remains concentrated, but broad enough to reach several parts of the UK private-company market. Fundraising was spread across life sciences, infrastructure, financial services, advanced engineering and software.

Henry Whorwood gave his assessment of the quarter’s figures.

“Q2 was a landmark quarter for UK AI investment. What stands out is not just the scale of capital going into AI, but the breadth of the companies raising. The UK is attracting major investment across life sciences, AI infrastructure, financial services, advanced engineering and enterprise software. AI is now a major driver of the UK private-company market,” said Henry Whorwood, Managing Director, Beauhurst Insights.

The research group said the recorded total is unlikely to be final because some equity deals are disclosed only after a delay.

“The headline figure is already a record, but it is unlikely to be the final number. Unannounced fundraising deals often come to light in the weeks and months after a quarter closes, so we expect the Q2 picture to continue developing,” said Whorwood.

Recent quarters have seen a sharp increase in AI investment, although the growth pattern has been uneven.

“There has been a rapid increase in investment into AI, with the last two quarters seeing significantly more investment than ever before. Although investment has almost tripled year on year, growth has not been consistent, so there will be a great deal of interest in what the rest of the year will bring. It is also interesting to note that 80% of the total invested into UK AI was raised by just eight AI equity raises, with life sciences and health attracting the most investment by value,” said Whorwood.

KAREN JOY BACUDO

Finance Editor

HSBC UK is working with Visa on AI-powered shopping services for cardholders, including what the companies describe as an industry-first agentic card transaction on a live merchant website.

The project is designed to let customers shop and pay through AI platforms without moving between multiple websites. An HSBC UK-issued card has already been used to complete an end-to-end transaction in that setting.

Agentic commerce refers to systems in which an AI tool performs parts of a shopping task on a customer’s behalf, such as searching for products, booking travel, or purchasing household items. In this model, payment is handled within the AI-led journey rather than through a conventional checkout spread across several sites.

HSBC UK and Visa said the model will rely on controls designed to keep customers in charge of spending decisions. Permissions and safeguards are built into the experience, while security and transparency are expected to be central as AI agents begin initiating transactions in real-world environments.

Payment authentication is a key part of the work. HSBC UK said it is supporting the technology and security measures required to enable these transactions, including secure authentication via customer biometrics.

The initiative places the bank and card network within a wider effort by financial groups to adapt payment infrastructure to generative AI and automated digital assistants. For banks, that shift raises questions about how card credentials are presented, how consent is captured, and how fraud controls work when software agents, rather than consumers, initiate parts of a purchase.

Retailers and payment providers have been exploring how AI assistants could change online shopping by reducing the steps in a transaction. Supporters argue the model could make routine purchases quicker, while critics point to the need for clear controls over data access, payment authority, and dispute handling.

Andy Rankin, Chief Payments Officer of Consumer Banking, HSBC UK, outlined the bank’s view on the shift in consumer payments.

“The way people pay is constantly evolving, and artificial intelligence has the potential to make everyday shopping simpler, faster and more convenient for our customers. At HSBC UK, we’re helping to shape the future of payments by bringing together innovation, trusted technology and industry collaboration. AI-powered commerce is set to be the next evolution in how people shop, and we’re working alongside our partners to help build the experiences that will make it a reality, while ensuring customers remain firmly in control of their money. As new technologies emerge, customers need confidence that their payments are protected, and we’re working with Visa to lead the industry in building trusted experiences that can unlock the benefits of AI for consumers,” said Andy Rankin, Chief Payments Officer, Consumer Banking, HSBC UK.

Visa said its role is to connect banks, merchants, and AI systems through the existing card network rather than build a separate payments rail for these purchases. That suggests the companies want agentic transactions to sit within established card protections and merchant acceptance systems.

Rob Cameron, Group Country Manager, UK & Ireland, Visa, described how the company sees the next phase of development.

“AI agents are beginning to initiate transactions in real-world environments, and our role is to ensure every transaction remains secure, transparent and trusted. By connecting our issuer partners like HSBC UK with merchants and AI systems through our network, we are enabling this next phase of commerce using the infrastructure and protections already in place,” said Rob Cameron, Group Country Manager, UK & Ireland, Visa.

For HSBC UK, the project also reflects broader competitive pressure on banks to remain present in digital commerce as new interfaces emerge between consumers and merchants. If AI assistants become a regular way to browse and buy, card issuers and networks will need to ensure their products remain embedded in those experiences rather than displaced by alternative payment methods.

The announcement does not set out a launch timeline for broader customer use, but it signals that live testing has moved beyond theory. The use of an HSBC UK card in an end-to-end agentic transaction on a live merchant website shows banks and payment networks are now testing how AI-led shopping can work within existing commerce systems.