Barclays, HSBC, Standard Chartered, Lloyds and RBS credit ratings slashed as states promise no more bailouts February 3, 2015 Britain’s biggest banks saw their credit ratings chopped back last night by Standard and Poor’s, as the agency believes the government is serious in its promise to let bad banks fail. While ratings are normally cut when a firm performs poorly, in this case the move reflects the shift in risk from the taxpayer and [...]
Barclays picks Jonathan Moulds to ring fence the bank January 14, 2015 Barclays hired former Bank of America Merrill Lynch executive Jonathan Moulds yesterday to split the bank up to fit incoming ring fence law. Implementing the rules which split the investment banking arm from the retail banking and payments systems represents a major challenge for the new chief operating officer. Domestic rivals such as Lloyds [...]
Barclays appoints former Bank of America executive as chief operating officer January 14, 2015 Barclays has called upon a former senior executive at Bank of America Merrill Lynch to step into the role of chief operating officer. Jonathan Moulds will join the British bank in February in a role that has remained vacantsince Jerry del Missier walked away amid an interest-rate rigging scandal in 2012. Antony Jenkins, Barclays [...]
Bob Diamond ditches Barclays Wealth as his charity’s bankers January 4, 2015 Former Barclays boss Bob Diamond has hired State Street as the banker for his charitable foundation, its annual report shows. The Diamond Family Foundation used to use Barclays Wealth as its bankers, alongside PwC as its auditors. But its latest financial report shows that Diamond’s charitable unit picked US bank State Street instead for the [...]
Barclays’ Asian investment arm cuts clients list December 22, 2014 The Asian arm of Barclays’ investment bank has cut down its list of possible clients by close to a third following a review into its activities in the region, it emerged yesterday. The move comes after the British bank started a process in May to restructure its under-performing investment banking business, which will include the [...]
Jeb Bush to quit Barclays bank as speculation over 2016 presidential race heats up December 18, 2014 In further signs that he is preparing to run for the presidency of the United States former Florida governor Jeb Bush is leaving his position at Barclays bank, according to the Financial Times. The brother of America's 43rd President George W. Bush recently announced that he would "actively explore the possibility of running for President [...]
Barclays among 10 banks fined for abusing research to win deals December 11, 2014 TEN GLOBAL banks were fined a total of $43.5m (£27.7m) by US regulators yesterday for their attempts to misuse analysts’ research to gain lucrative jobs on Toys R Us’ attempted stock market flotation in 2010. Analysts’ research is supposed to be a neutral assessment of a floating stock’s value. But the Financial Industry Regulation Authority (Finra) said [...]
Autumn Statement 2014: Shares in RBS, Lloyds, HSBC and Barclays fall as chancellor outlines profit measures December 3, 2014 Shares in UK banks dropped in early afternoon trading as George Osborne outlined measures to limit the amount of profit lenders can offset by losses. In his Autumn Statement speech, Osborne said he would limit offests to 50 per cent, and delay relief on bad debts, which he added will raise £4bn for the Treasury [...]
Barclays to place ISS shares worth £300m December 2, 2014 Barclays was last night in the market with 13.5 per cent of the stock in ISS, the cleaning and catering group that floated earlier this year in the largest Danish IPO for 20 years. The bank acted on behalf of shareholders to buy the block in a deal worth around £300m and will be placing [...]
Barclays unwraps video-link service November 30, 2014 BARCLAYS took a leap into the future yesterday by unveiling the UK’s first known face-to-face video banking service. Barclays Premier account holders will get access to the service on 8 December with other customers having to wait until next year to use the service, which lets them talk to Barclays staff over a video link [...]