City Moves for 24 March 2015 | Who’s switching jobs March 23, 2015 Baker Tilly The accountancy and business advisory firm has appointed Steve Hopkins as a consultant in its restructuring and recovery practice. He was previously head of corporate insolvency at Barclays Bank, and has over 20 years’ experience in restructuring and insolvency. LCH.Clearnet Frank Soussan has been appointed global head of CDSClear at the clearing house. [...]
Fines and conduct costs set to stop lenders hitting profit goals March 19, 2015 BRITAIN’S biggest banks will struggle to hit their target returns on equity this year as sustained fines and compensation costs drag them down, analysts at ratings agency Standard and Poor’s warned yesterday. Despite hopes that the bills for past wrongdoing would come down, the four big lenders paid £13.8bn in legal and restructuring costs last [...]
City Moves for 20 March 2015 | Who’s switching jobs March 19, 2015 Baker Tilly The audit, tax, and accountancy firm has appointed Rowan Williams as head of its professional services group. She joined Baker Tilly in 2009, and has led its London business advisory team and its professional services group in London and the South. Old Mutual Wealth Mary-Anne McIntyre has been appointed chief distribution officer at [...]
The government is quietly planning for “smart cash machines” March 19, 2015 The government is quietly preparing for the rise of so-called "smart ATMs" which will allow people to manage all aspects of their finances from a cash point. The machines currently being developed by the government let customers "deposit as well as withdraw cash". But the technology has the potential to allow customers to print statements, [...]
Barclays halves bonus payouts for top executives March 17, 2015 Barclays has slashed the payouts to its top bosses by half, yesterday revealing that the group of executives at the head of the bank received £16.5m in shares for deferred bonuses and new awards. That is a dramatic fall from £31.8m a year earlier, reflecting both the increased crackdown on payouts, and a shift away [...]
HSBC to close Jersey accounts in crackdown on tax avoidance March 17, 2015 HSBC has begun contacting thousands of holders of Jersey accounts who live in the UK in a bid to avoid accusations that it is helping to shelter money from tax authorities. Britain’s biggest bank has written to customers with such accounts to ask them to take proof of identity to a branch on the island, [...]
Top Rabobank trader banned for rate rigging March 17, 2015 A FORMER senior trader at Rabobank was yesterday banned by the Financial Conduct Authority (FCA) over Libor rate-rigging. Paul Robson is the first trader to be banned by the City regulator for attempted Libor manipulation. The FCA action follows a US criminal conviction for Robson over interest rate-rigging. He was the second person at the [...]
Facebook now lets you send money to friends via Messenger app March 17, 2015 Facebook is making a move into the ever growing mobile payment and money transfer space by letting users send money to friends via its Facebook Messenger app. Facebook users simply need to register a Visa or Mastercard debit card the first time they use the service, and then create a pin for added security or use [...]
City Moves for 17 March 2015 | Who’s switching jobs March 16, 2015 Investec Investec Investment Banking has appointed Serge Rissi as a director in its financial sponsor transaction group. He has 15 years of M&A experience, and most recently worked as a director at Quayle Munro. Rissi has also held roles at UBS Warburg and Hawkpoint. Rathbone Brothers The investment management firm has announced the appointment of [...]
Hull City name change back on following arbitration case March 16, 2015 Hull City could still become known as "Hull Tigers" after an independent panel cleared the way for the football club to reapply for a name change. Chairman Assem Allam's plans to change the suffix to Hull's name appeared to be thwarted when the Football Association (FA) Council blocked the move last April. However, an independent [...]