Dixons boss set to be chief exec if deal happens February 24, 2014 DIXONS Retail chief executive Sebastian James is expected to head one of the high street’s biggest chains if talks with Carphone Warehouse lead to a merger, with Sir Charles Dunstone expected to become chairman. The two companies yesterday confirmed “very preliminary” merger talks that could create an electricals and mobile phone giant with a market [...]
Troika back in Greece for talks on latest funds February 24, 2014 GREECE’S three international lenders were in Athens once again today, as disagreement over the country’s next tranche of financial aid bubbles under the surface. A long-delayed report into the country’s financial system from the Bank of Greece is a major part of the disagreement, with disputes over how much more new capital the banks need [...]
RBS looks to copy Lloyds success as a UK retail and business bank February 23, 2014 RBS IS preparing to sack up to 30,000 workers in the coming years as it cuts down its investment banking arm even more radically, and focuses on UK retail banking. Thursday’s strategic announcements are likely to move the bank closer to fellow state-backed bank Lloyds’ model in a bid to please its political masters. RBS [...]
City Moves for 24 February 2014 | Who’s switching jobs February 23, 2014 Northern Trust The asset management business has made two appointments. John Elder (right) joins as a senior investment adviser for multi-manager solutions. He has previously worked at Mellon Family Office Services and Ernst & Young. Jonathan Lidster joins as a senior wealth strategist. He was formerly chief operating officer at Global Partnership Family Offices. Barclays [...]
Lloyds brings in the machines with plan for mini-banks February 20, 2014 LLOYDS is looking at setting up a range of mini-branches across London with fewer staff and more machines, City A.M. understands. The aim is to plugs gaps in the bank’s coverage across the capital, while keeping costs low. It marks a new stage in the banking sector’s plans to cope as branches receive fewer visits [...]
Desmond sets a deadline for Channel 5 bids February 20, 2014 RICHARD Desmond has stepped down from the board of Channel 5 Broadcasting Limited in a sign that the media boss may be preparing for a sale of the broadcaster. An information memorandum has been sent to would-be buyers and City A.M. understands that a deadline of 27 February has been set for initial offers. Last [...]
Rathbone boss leaves on a high as assets tick up February 20, 2014 WEALTH manager Rathbone Brothers ushered in a new era yesterday after long standing boss Andy Pomfret handed the reins over to the company’s new chief executive, as it reported double digit asset growth for last year. Pomfret, who has been an executive at the company for 15 years, leaves the business next Friday to be [...]
You won’t recognise your high street bank in five years’ time February 20, 2014 Small branches with more machines than staff are the future of banking for Britain’s biggest lenders, as Lloyds joins Barclays in creating a new kind of store. Lloyds is understood to be looking into opening new branches in London – a radical change from the industry trend of cutting back on expensive stores in favour [...]
Pets at Home to offer public bite at £1.5bn float February 19, 2014 PETS at Home, the UK’s biggest pet store, yesterday announced plans to offer shares to the animal-loving British public as part of its stock market debut next month. The company, which has 369 stores across the UK, said it intends to raise £275m through the initial share offering and use the proceeds to slash its [...]
App used to help buy a house as Barclays and Savills strike a deal February 19, 2014 AN APP has been used to help purchase a house for the first time, following a new partnership between Barclays and Savills Auctions. Barclays Pingit app was used by a homeowner to put a £23,000 deposit on a house in Mitcham, South London this month. The partnership will enable Savills Auctions customers to make a [...]