UK banks’ profits slashed by more than half June 28, 2021 Big UK banks’ profits have slid by more than half over the last year, according to a ranking of the world’s largest lenders published today. UK lenders included in The Banker’s top 1,000 World Banks 2021 experienced a 53 per cent drop in profits. Losses were attributed to the severe damage the pandemic has inflicted [...]
Lloyds prompts backlash after axing another 44 branches June 23, 2021 Lloyds Banking Group is to close another 44 branches across England and Wales this year as lenders ramp up cost-cutting. Lloyds blamed a lack of customers at the sites as the reason for the move as people switch to digital banking. The latest closures means a total of 100 branches will shut this year, with [...]
Lloyds hires ex-DBS Bank executive as chief operating officer June 14, 2021 Lloyds Banking Group has hired David Gledhill, a former executive of Singapore’s DBS Bank, as group chief operating officer. Britain’s largest domestic bank said in a statement that Gledhill will join in August this year, subject to regulatory approval. Gledhill will join Lloyds upon returning to the UK after 11 years with DBS Bank, where [...]
‘Extraordinary’: Former police chief slams Antonio Horta-Osorio’s knighthood June 14, 2021 Anthony Stansfeld, the ex-police commissioner who oversaw the investigation into the HBOS Reading fraud, has described Antonio Horta-Osorio’s knighthood as “extraordinary”. “There are a great many companies that have been destroyed, and countless lives destroyed by the actions of Lloyds Bank while under his executive control,” Stansfeld said. Ex-Lloyds Banking Group chief executive Horta-Osorio, who [...]
Mitie: Covid and hybrid work prompted a makeover for cleaning tech – a mop and bucket won’t cut it May 26, 2021 The pandemic has given society the breathing space to redesign what a workplace should offer and in the age of the invisible virus, the humble mop and bucket won’t cut it. After a socially starved year, offices will likely become more collaborative and social in the future, adopting measures like ‘hot desking’. But these [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 12, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Capital Group strengthens UK sales team Investment firm Capital Group, which has £1.7 trillion assets under management, has expanded its UK financial intermediaries team this week by hiring a new managing [...]
Lloyds in talks over £400m deal for retirement group Embark May 9, 2021 Lloyds Bank is in talks over a £400m deal to acquire retirement products provider Embark in what would be its biggest acquisition since it returned to private ownership four years ago. The lender is close to finalising a deal and an announcement could come as early as this month, Sky News reported. Embark, which was [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 5, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. OneBanks hires ex–Lloyds chief as its first CTO Shared branch banking venture OneBanks has appointed a former Lloyds Bank executive as its first chief technology officer (CTO) this week. Andy Willmot, once [...]
Antonio Horta-Osorio signs off at Lloyds with a £1.4bn post-tax profit April 28, 2021 Lloyds bank posted a £1.4bn after tax profit for the first quarter, up nearly 200 per cent on the same time last year, in boss Antonio Horta-Osorio’s final results at the helm. The banking giant’s statutory profit after tax for the three months to 31 March 2021 was £1.39bn compared to £480m this time last [...]
Diversity blow: UK banks lost 10,000 women in 2020 March 12, 2021 The number of women at the UK’s five biggest lenders shrank by three per cent during 2020, according to new Bloomberg data. Men saw a decline of around 2.1 per cent as banks pushed ahead with long-planned cuts and navigated the Covid-19 crisis. At NatWest, roles filled by women fell by nine per cent compared [...]