UK firms bank on London’s status as top financial centre September 13, 2021 More than two thirds of the UK’s financial firms believe that London will retain its status as one of the world’s leading financial centres after Brexit. When Britain completed its exit from the EU in December last year, it divorced from its biggest single export customer, casting doubts over its status as a leading global [...]
Lloyds hires Barclays exec to lead debt capital markets division August 23, 2021 Barclays exec Miray Muminoglu has been appointed as the new head of Lloyds Bank’s financial institutions debt capital markets and securitised products group. Muminoglu, who currently works as managing director, head of term funding within Barclays’ group treasury unit, will join Lloyds Bank in London this November, reported Financial News. Muminoglu has over 30 years [...]
Charlie Nunn starts as Lloyds Bank chief executive August 16, 2021 Former HSBC banker Charlie Nunn takes on the role of chief executive of Lloyds Bank today, one of the UK’s biggest finance jobs. Nunn’s appointment was announced in November and his starting date was revealed in February. He replaces Antonio Horta-Osorio, who held the position for a decade and announced he would step down once [...]
Lloyds banking group lifts forecasts as UK economic outlook brightens July 29, 2021 Lloyds banking group has lifted its forecast for the year after the UK’s economic outlook has brightened in the past six months amid its vaccine rollout. Statutory profit before tax hit £3.9bn in the six months to 30 June, a ‘significant’ increase from the first half of 2020. The banking group has confirmed it bought [...]
Thousands of websites including Amazon, UPS, HSBC, BA, Airbnb and HBO hit in major global outage July 22, 2021 A major server outage brought down thousands of websites across the UK, US and around the world, including HSBC, Barclays, American Express, Delta Airlines, Tesco Bank, alongside the PlayStation Network, Airbnb and Waitrose, as well as ITV and TSB. British Airways was also down. A message on the BA website read: “Service Unavailable – DNS [...]
Thousands of Lloyds, Halifax and Bank of Scotland customers locked out of their accounts July 19, 2021 Thousands of customers have reported that they are locked out of their Lloyds Bank, Halifax and Bank of Scotland’s internet banking services and apps. Over 1000 people had reported issues with the Lloyds website by 11am today, according to Down Detector, which monitors IT issues at large consumer-facing companies. 1,100 people reported issues with Halifax [...]
FCA slaps Lloyds Bank’s insurance division with £90m fine for misleading customers July 8, 2021 The Financial Conduct Authority fines the insurance division of Lloyds Bank £90.7m for sending misleading renewal quotes to nine million customers. The renewal quotes claimed the amounts were “competitive” when new customers could get a better price on the same products elsewhere, the FCA said. The FCA said the breach of rules caused “a risk [...]
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 [...]