How to rob your bank January 19, 2011 SANTANDER has brought back its switching deal, giving new customers £100 when they move their main current account to its offering which pays 5 per cent interest for the first year. However, the bank has been voted worst for customer service in a string of surveys by organisations including Moneywise, MoneySavingExpert.com and consumer group Which? [...]
City responds to calls to make a commitment to personal finance January 12, 2011 SINCE the launch of City A.M.’s Campaign for Financial Literacy yesterday, the number of positive responses received from City firms that are already engaged in education initiatives has been incredibly encouraging. Financial planners Killik, for example, has been developing a web-based tutorial known as Money in Mind. The site uses simple graphics and language to [...]
RBS and its NatWest division is fined £2.8m for poor handling of complaints January 11, 2011 BRITAIN’S financial watchdog fined Royal Bank of Scotland (RBS) and its NatWest division £2.8m yesterday for poor customer complaints handling. The Financial Services Authority (FSA) said its investigation found an unacceptably high risk that customers may not have been treated fairly due to multiple failings in 2009 in the banks’ approach to routine complaint handling. [...]
RBS hit with £2.8m FSA fine over complaints January 11, 2011 The Royal Bank of Scotland (RBS) and its NatWest subsidiary have been fined £2.8m for poor handling of customer complaints. The Financial Services Authority (FSA) imposed the fine, finding there was an “unacceptably high risk” that the customers had been treated unfairly. Failings identified included poor and slow dealing with complaints. RBS accepted its performance [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
Ladbrokes to bid for online gaming firm December 20, 2010 BETTING firm Ladbrokes is in talks with 888 about a potential £240m takeover bid that sent shares in the online gambling group soaring. Britain’s biggest bookmaker and 888 both confirmed weekend media speculation about the possible tie-up, saying they were in “very preliminary discussions”, although they declined to give details. Ladbrokes, led by chief executive Richard [...]
CREDIT SUISSE December 13, 2010 James Leigh-Pemberton, 54, is managing director and chief executive of Credit Suisse UK, a role he took over in July 2008. He is responsible for developing the bank’s client relationships in private banking, investment banking and asset management in the UK. He also serves as a member of the firm’s Europe Middle East and Africa [...]
CITY MOVES | WHO’S SWITCHING JOBS November 30, 2010 Livebookings Livebookings today announces the appointment of Colin Tenwick as chief executive and Ian Cole as chief financial officer. Tenwick and Cole previously took Stepstone, an Oslo listed job board and HR software provider, and built its revenues from €17m to over €120m before selling the business in 2009. They have joined to oversee the [...]
Peel Hunt staff buyout from KBC completes November 29, 2010 BROKER Peel Hunt has started life as an independent entity after completing a buyout by its staff. The buyout from former owner KBC, a Belgian bancassurance firm, was completed on Friday and values the company at £74m – a third of the £218m KBC bought it for in 2001. Peel Hunt’s employees own 75 per [...]
CITY MOVES | WHO’S SWITCHING JOBS November 22, 2010 Matrix Group Matrix, the financial services firm, has announced the appointment of a new chief operating officer for asset management: Paul Bramley. Bramley has worked in financial services for more than 20 years, including occupying previous COO and chief financial officer roles. He is also a qualified chartered accountant and has worked at NatWest Markets, [...]