City Moves for 26 July 2013 | Who’s switching jobs July 25, 2013 Barclays The bank has announced the appointment of Irene McDermott Brown as group human resources director. McDermott Brown joined Barclays in 2011 from BP. Prior to that, she held senior roles at Cable & Wireless, and led her own consultancy company. Pramerica Investment Management The investment management company has hired Ousmene Mandeng as managing director in [...]
Serious Fraud Office hopes to make more Libor charges in Autumn July 25, 2013 The UK Serious Fraud Office (SFO) has said it is hoping to make more charges against individuals for manipulation the Libor interbank lending rate this Autumn and is not afraid of legal barriers to convicting corporations. Speaking to Reuters, a spokesperson for the SFO said: We will go where the evidence takes us, but we [...]
Barclays ready for deal to plug balance sheet July 24, 2013 BARCLAYS is close to announcing an agreement with regulators to strengthen its balance sheet in order to meet new industry standards. Last month the Bank of England’s prudential regulatory authority (PRA) published a review of lenders’ capital positions and found Barclays did not meet the required three per cent leverage ratio by 0.5 percentage points. [...]
City Moves for 25 July 2013 | Who’s switching jobs July 24, 2013 bfinance The consultancy has announced the appointment of Roubesh Adaya as a senior associate in its research team. He will be covering research into fixed income asset investments, and joins from BNP Paribas Asset Management. Barclays Vivian Chan has joined the bank as regional head of north Asia in its wealth and investment management division. Chan [...]
Spurs sweating as Vertonghen needs ankle scan July 24, 2013 TOTTENHAM manager Andre Villas-Boas fears an ankle injury could rule out defender Jan Vertonghen for the first game of the Premier League season at Crystal Palace on 18 August. The versatile Belgian landed awkwardly on a sodden pitch minutes after coming on as a substitute in Spurs’ 3-1 defeat to Sunderland in the Barclays Asia [...]
UK regulator fines RBS £5.6m for incorrect reporting July 24, 2013 The Royal Bank of Scotland has been fined £5,620,300 by the Financial Conduct Authority for incorrectly reporting transactions made in wholesale markets and in some instances failing to report transactions at all. According to the FCA, RBS failed to properly report 44.8m transactions between November 2007 and February 2013 and failed altogether to report 804,000 [...]
What the other papers say this morning – 24 July 2013 July 23, 2013 FINANCIAL TIMES Ex-HSBC banker in frame for RBS job Mark McCombe, a veteran banker with 20 years experience at HSBC, has emerged as the leading external candidate to be the next chief executive of RBS according to people close to the process. Mr McCombe, a Briton who has spent the past year running the Asian [...]
Villas-Boas scotches talk of Bale £50m deal with Real July 23, 2013 TOTTENHAM manager Andre Villas-Boas has reiterated the club have no intention of selling Gareth Bale to Real Madrid this summer, despite reports in Spain that the forward has agreed a bumper €60m (£51.6m) contract to move to the Bernabeu. Uncertainty over the Player of the Year’s future reared its head again yesterday when Spanish newspaper [...]
Lenders and housebuilders summoned for Help to Buy meeting July 23, 2013 CHANCELLOR George Osborne has summoned Britain’s housebuilders and mortgage lenders for a meeting today, to discuss the second phase of the Help to Buy Scheme. The scheme was first launched four months ago and allows people to buy new homes with just a five per cent deposit. The biggest lenders, including Lloyds, RBS, Nationwide and [...]
Benchmarks on the front foot with code of conduct for indices July 21, 2013 FINANCIAL index providers today stuck back at the wave of regulatory interest in the sector by proposing their own code of conduct to improve behaviour in the sector. Indices have been under intense scrutiny since the Libor fiddling scandal emerged last summer, with officials becoming increasingly involved in setting standards for how they operate. Today [...]