British banks set to hand out hundreds of millions in staff bonuses February 6, 2021 Britain’s largest banks are finalising plans to hand out hundreds of millions of pounds in staff bonuses next week, at the same time loan losses are expected to catapult during the pandemic. Taxpayer-backed lender Natwest Group has informed the Treasury that it is poised to distribute more than £200m in staff bonuses for 2020. The [...]
City Moves: Who is switching jobs in the Square Mile this week? January 13, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. After a rocky year for business, City firms are continuing to adapt to the challenges of three national lockdowns and post-Brexit bureaucracy to keep things moving across the Square Mile. This week, Lloyd’s [...]
Banks amongst winners on FTSE as City waits for trade deal confirmation December 24, 2020 Lloyds Bank and Natwest are amongst those enjoying a Brexit deal boost on the FTSE 100 today. Lloyds is up more than 4 per cent on the last day of trading before Christmas. Natwest is also up. The deal is expected to be announced by Boris Johnson and Ursula von der Leyen within the next [...]
Lloyds pay black staff 20 per cent less than their white peers December 11, 2020 Lloyds Banking Group revealed that black staff at the company receive 20 per cent less pay than their colleagues.
Lloyds names HSBC’s Charlie Nunn as next chief executive November 30, 2020 Lloyds Banking Group has named HSBC head of wealth and personal banking Charlie Nunn as its next chief executive. Nunn will replace Antonio Horta-Osorio who said in July that he would step down next year once a successor was appointed. The new chief executive will be paid a salary of £1,125,000 and a fixed share [...]
Vaccine news leads to surge in London business confidence: Lloyds November 30, 2020 London business confidence increased following the news a Covid-19 vaccine may soon be a reality. According to the Lloyds Bank’s Business Barometer for 2020, overall confidence of firms in London rose five points in November to -19 per cent.Firms’ confidence with their own business prospects was -18 per cent, compared to -16 per cent in [...]
Lloyds ramps up cost-cutting measures, axing 1,000 more jobs November 4, 2020 Lloyds is set to axe over 1,000 jobs, as Britain’s biggest domestic lender ramps up cost-cutting efforts despite returning to profitability during the third quarter. Lloyds will cut 1,070 roles across its commercial and retail bank and has announced plans to create 340 new positions. Read more: Lloyds profit beats forecasts on pandemic mortgage boom [...]
Lloyds profit beats forecasts on pandemic mortgage boom October 29, 2020 Lloyds posted a forecast-beating profit for the third quarter as Britain’s biggest domestic lender cashed in booming demand for mortgages and set aside a smaller amount to cover bad loans. The bank returned to profitability in the three months to September after posting an unexpected loss in the first half. Lloyds reported a pre-tax profit [...]
Natwest vows to boost number of black employees in senior roles October 20, 2020 Natwest has vowed to boost the number of black staff in senior roles from one per cent to three per cent, as the British bank seeks to shake up its image as part of a new racial equality pledge. The boost would bring Natwest’s diversity in line with the black population in England and Wales, [...]
Staff at British banks ‘forced to turn off NHS Covid tracing app at work’ October 8, 2020 Branch staff at some of the UK’s biggest banks say they are being put at risk by rules that require them to keep their phones in lockers at work, leaving them unable to use the NHS Covid-19 contact tracing app. Lloyds and TSB are among the lenders advising employees in branch to deactivate the contact [...]