Azerbaijani woman who spent £16m in Harrods has reportedly been arrested and faces extradition November 6, 2018 The wife of an Azeri banker who spent £16m in Harrods and was the subject of the UK’s first unexplained wealth order (UWO) has reportedly been arrested, pending extradition. Zamira Hajiyeva, 55, was exposed as the subject of a UWO which forced her to reveal how she was able to afford two UK properties worth a [...]
Top HSBC executive probed by Financial Conduct Authority November 6, 2018 A top executive at HSBC is being probed by city regulator the Financial Conduct Authority (FCA). Sky News reports that Paul Watson, whose online profile lists him as head of regulatory compliance for the global banking and markets division of HSBC, is being investigated by the regulator. The inquiry, which is thought to have started [...]
Danske chairman to resign as investor forces board meeting at scandal-prone bank November 6, 2018 Scandal-prone Danske Bank’s main shareholder has nominated two directors to the board as under-fire chairman Ole Andersen prepares to resign. Ole Andersen, who said in September he was looking to leave the role, will step down alongside chair of the audit committee Jorn Jensen at a special meeting in two weeks. AP Moller Holding, the [...]
Provident Financial appoints ex-Just Group finance director as CFO after difficult 18 months November 6, 2018 Doorstep lender Provident Financial has appointed Simon Thomas as chief finance officer as it begins to recover from a turbulent 18 months. Thomas will join from FTSE 250 company Just Group where he was also finance director. Current finance chief Andrew Fisher will step down from the role in December but will remain employed for [...]
Co-operative Bank reports £87m loss but mortgage completions reach highest quarterly level for five years November 6, 2018 The Co-operative Bank reported a pre-tax loss of £87m in the first nine months of the year but had its best quarter for mortgage completions in five years. The bank posted a third quarter profit of £14.3m – a marked improvement on the £25m loss over the same period the previous year – as it [...]
Lloyds Banking Group set to create 8,000 new UK jobs November 5, 2018 Lloyds Banking Group is reportedly set to announce plans tomorrow to create 8,000 jobs in the UK as part of a £3bn technology and transformation investment programme. The bank will also announce that it is cutting 6,000 roles, leading to a net jobs creation figure of 2,000. Sky News reports the reorganisation is part of [...]
Citigroup appoints Philip Drury to top EMEA investment bank role November 5, 2018 Citigroup has appointed Philip Drury as head of banking, capital markets and advisory (BCMA) in Europe, the Middle East and Africa (EMEA), the bank announced today. The move comes after the group announced it would reconfigure its structure to combine its capital markets and corporate and investment banking divisions. Drury, whose most recent role was [...]
ECB withdraws licence of Malta’s Pilatus Bank over corruption claims, financial watchdog says November 5, 2018 The European Central Bank (ECB) has shut down of Malta’s Pilatus Bank after the lender was accused of corruption, the country’s financial watchdog said today. The scandal, which accused the private bank of processing corrupt payments, was uncovered by Maltese journalist Daphne Caruana Galizia who was murdered in October last year. The accusations against the bank included that [...]
Barclays and Lloyds among the worst performers in EU bank stress test November 3, 2018 Barclays and Lloyds surprised markets yesterday after being named and shamed in the EU’s banking health check. The two British lenders were among the worst performers in the EU banking watchdog’s new report, which tested European banks and their ability to withstand a hypothetical market shock. While none of the 48 lenders fell below the [...]
Bank of England: A British scientist will feature on the next £50 note November 2, 2018 The Bank of England told the public to “think science” when nominating new faces for the £50 note this morning. Figures such as Stephen Hawking and Dorothy Hodgkin are among the early frontrunners in the race to be on the new plastic note, which comes as part of a six-week process where the public can [...]