RBS spin-off Williams & Glyn loses chief executive John Maltby ahead of IPO April 28, 2015 Williams & Glyn, the challenger bank being carved out from RBS as a condition of the latter's bailout during the financial crisis, has lost its chief executive before it has even launched. John Maltby will be replaced by Jim Brown, currently chief executive of Ulster Bank. Maltby will take up his former role [...]
Bank holiday cancelled: RBS branches stay open on Monday April 27, 2015 Bank holidays could soon be a relic of a bygone age of short opening hours and inconvenient service, as RBS plans to open dozens of branches this Monday. As internet and mobile banking have taken off, branch use has plummeted, prompting banks to try to make access to their expensive high street sites more convenient. [...]
Rugby club Wasps to raise £35m in retail bond offering April 27, 2015 Rugby club Wasps is raising up to £35m of debt in a retail bond offer, hoping to tap up fans with a payout of 6.5 per cent on the debt instruments. It is pitching the paper as a safe investment, on the basis that the vast majority of its income is in fact not [...]
Banks forced to compete hard for current accounts April 22, 2015 Britons have been shaken out of their traditional apathy towards their banks, as the switching scheme has successfully encouraged them to shop around, new data shows today. The seven-day switching service was used by 1.14m people to change current accounts, the Payments Council said, up seven per cent on the year. And the proportion who [...]
Ros Altmann: The savers’ champion talks pension reform, QE, and the pension annuities bombshell March 26, 2015 "I was gobsmacked.” Ros Altmann summarises her reaction to the Budget last year, when the chancellor first outlined his dramatic plans to bring pension freedoms to all. On the afternoon of that Budget day, Altmann, a pensions expert and campaigner, adviser to successive governments, and investment manager and economist, could barely contain her excitement when [...]
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. [...]
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 [...]
CivilisedBank: There’s another new challenger bank on the scene with imminent UK launch plans March 8, 2015 Another challenger bank has joined the scene alongside a growing number of upstarts trying to unseat the dominant high street banking institutions in the UK. CivilisedBank, a new online-only bank aimed at small and medium-sized businesses, is the latest to reveal its plans and expects to open its doors – albeit virtual ones – later [...]
First Natwest start-up accelerator opening in Birmingham today February 8, 2015 Natwest will open the first of eight business accelerator hubs in Birmingham this morning, housing 80 businesses as part of a programme to support entrepreneurs around the UK. The hub will host a rolling six month programme for start-ups, in partnership with Entrepreneurial Spark, which will include growth awards of up to £50,000 for the [...]
Fifa presidency: How brands can stop the beautiful game turning sour January 31, 2015 That there is something unsavoury at the top of world football would appear to be beyond doubt, it’s just that it seems most people are powerless to do anything about it, and the situation is rapidly falling into farce, with the likes of David Ginola and now Luis Figo threatening to make bids for the [...]