CITY MOVES WHO’S SWITCHING JOBS November 8, 2009 Jones Lang LaSalleJones Lang LaSalle’s Sustainability Services team has appointed Erin Karsten as EMEA technical sustainability consultant. Karsten was formerly a senior programme manager with the firm. Her new role will involve developing delivery of Downstream services and will act as a single point of contact for the region. The role will also involve working [...]
REVOLUTION ON THE BANKING HIGH STREET – KEY POINTS November 3, 2009 ASSET PROTECTION SCHEMERBS:• Will receive a £25.5bn capital injection from government: £13bn upfront; £6bn of discretionary capital; and £6.5bn in a fee taken as capital.• Toxic assets placed in the APS cut from £325bn to £282bn.• RBS must cover first £60bn – not the £42bn that was first envisaged?– of losses on toxic assets in [...]
CITY MOVES WHO’S SWITCHING JOBS November 2, 2009 Close Brothers Corporate FinanceThe independent corporate finance advisory firm has appointed Will Thompson to head up its support services sector team. Thompson joined the firm in March this year to lead the European healthcare services team, having previously been at Morgan Stanley. He has also worked at Lazard and Barings. He has advised on numerous [...]
RBS TO SLASH 4,000 JOBS AS IT DOWNSIZES November 2, 2009 ROYAL Bank of Scotland (RBS) yesterday dropped a bombshell on workers by announcing it will axe 3,700 jobs across its retail branch network, as the Treasury and the European Commission today prepare to list a raft of assets the bank will be forced to sell off as part of a restructuring agreement. The beleaguered bank [...]
RBS to face unexpected divestments November 2, 2009 A RADICAL restructuring of part-nationalised Royal Bank of Scotland due to be unveiled today will include unplanned disposals, the bank admitted for the first time yesterday, amid speculation it could be forced to sell off some of its most profitable assets. The European Commission is today expected to detail divestments it expects RBS and Lloyds [...]
RBS FEARS THAT BREAKUP PLANS WILL GO TOO FAR November 1, 2009 ROYAL Bank of Scotland is deeply anxious that a proposed restructuring plan being drawn up by the European Commission and the Treasury could materially damage its ability to operate as a standalone entity. Sources close to the bank have warned that getting RBS back to standalone strength, a key factor in reimbursing the taxpayer for [...]
Hester fights to hang on to Citizens in US November 1, 2009 ROYAL Bank of Scotland chief executive Stephen Hester is fighting tooth and nail to keep Citizens, the group’s flagship American retail banking business, on its books after it emerged that Europe is considering forcing it to divest the brand in the interests of competition. Citizens, which has over 1,480 branches in the US, is regarded [...]
RBS in EC branch sale threat October 14, 2009 EUROPEAN Commission (EC) lawmakers may force Royal Bank of Scotland (RBS) to sell off 312 of its RBS-branded bank branches, under new rules for firms receiving state bailouts. Neelie Kroes, the EC competition commissioner, is considering forcing the bank to slash its small business banking operations by 10 per cent. This would be achieved if [...]
CURRENT MORTGAGE DEALS October 8, 2009 Source: MoneySupermarket.com LENDER FIXED/FLEXIBLE RATE UNTIL STANDARD RATE APR MAXIMUM LOAN (PER CENT) (PER CENT) (PER CENT) TO VALUE (PER CENT)HSBC Special [...]
RBS closes the door on new credit cards October 5, 2009 ROYAL Bank of Scotland (RBS) has closed its credit card business to new customers in a bid to prevent a rise in bad debts. The lender, which is 70 per cent owned by the taxpayer, will limit new credit cards to existing banking customers, meaning that anyone who wants an RBS or NatWest credit card [...]