City Moves for 29 August 2013 | Who’s switching jobs August 28, 2013 Coutts The wealth division of RBS has appointed Donna Burns as managing director and head of human resources. She joins from The Renaissance Group, where she was most recently managing director and global head of human resources. Burns has also held roles at Goldman Sachs. Barclays Corporate & Employer Solutions The division of Barclays Bank [...]
Solheim glory fuels McGinley’s faith in youth August 28, 2013 RYDER Cup captain Paul McGinley insists he is happy to have rookies on his team for next year’s contest with America and has pointed to Europe’s glorious recent Solheim Cup triumph as proof it can work. Players start accumulating points towards qualification for the next intercontinental showdown at Gleneagles from today, when play gets underway [...]
Any Other Business – 29/08 August 28, 2013 Wealth management firm Vestra hosted the unofficial Square Mile sports day last night, holding its second annual dodgeball tournament at the Honourable Artillery Company’s sports ground in Moorgate. Of course fancy dress was mandatory, with teams from Investec, Aberdeen Asset Management, Barclays and BNY Mellon all looking the part. More competitive than the dodgeball was the battle [...]
Carphone Warehouse completes £650m refinancing with lenders August 26, 2013 MOBILE phone retailer Carphone Warehouse announced today it has signed a huge refinancing deal with its banks, helping to fund the recent £470m buy out of its joint venture partner Best Buy in Europe. The London-listed group has sealed two loans worth £650m from its syndicate of lenders, in one of the largest underwritten deals [...]
City Moves for 27 August 2013 | Who’s switching jobs August 26, 2013 Lloyds Bank The bank’s commercial banking arm has announced the appointment of Jacqueline Keogh as director of global trade. Keogh has over 25 years’ experience in the banking industry. She was most recently at Standard Chartered, where she was managing director, and regional head of banks for Europe in its transaction banking division. B Capital [...]
Barclays champ Scott hails Woods’ former caddie August 26, 2013 GOLF: New world No2 Adam Scott thanked caddie Steve Williams for helping him win The Barclays at the weekend. “He’s the guy who can influence me out there, really,” said Scott. Williams, previously caddie to Tiger Woods, infamously fell out with the world No1 and was accused of making racist comments towards him.
Card firms on hook for £1.3bn mis-selling bill August 22, 2013 THIRTEEN of Britain’s biggest lenders yesterday unveiled plans to repay consumers £1.3bn for mis-selling credit card protection products. Seven million customers bought the products which came from CCP and were sold through high street lenders and retailers. They either provided loss protection already covered by the bank, or were misleadingly advertised. If customers bought card [...]
Regulator agrees redress of up to £1.3bn for mis-sold insurance products August 22, 2013 Regulator the Financial Conduct Authority (FCA) has reached an agreement with several firms to provide redress to consumers mis-sold Card Protection Plan's (CPP) Card Protection and Identity Protection policies. This follows the mis-selling of 23 million policies to seven million customers. Those customers will now receive a letter from CPP explaining the process with a [...]
First July deficit since 2010 as spending creeps higher August 21, 2013 THE UK posted an unexpected deficit in July, the first for the month since 2010, highlighting the sluggish progress in reductions to spending. Records of the country’s recent public finances, released yesterday, show a relatively small deficit of £62m for last month. In the same month in 2012, the treasury ran a budget surplus of [...]
Bottom Line: Privatise this bank and let it flourish August 21, 2013 LLOYDS suddenly looks like Britain’s least-troubled bank, with soaring shares, a return to profit and almost all of its business focused on core UK markets. Its position is in stark contrast to much of the rest of the sector. RBS is getting a new boss to push the government’s favoured strategy of cutting back investment [...]