CITY MOVES | WHO’S SWITCHING JOBS March 7, 2010 Santander The Spanish banking group has appointed Damian McGann as head of business development in its corporate banking team. McGann has over 20 years of experience in the sector and joins from Lloyds Banking Group, where he previously headed up substantial businesses in the Midlands and Scotland. He will focus on a range of businesses, [...]
New look board behind the turnaround at RBS February 25, 2010 The Royal bank of Scotland chairman yesterday pinned the bank’s change in fortunes on the strength of its new board. Philip Hampton said the people who brought the institution to the brink of collapse have all been culled. The board, which has stemmed RBS’ losses at £3.6bn after it lost £24bn the year before, has [...]
CITY MOVES | WHO’S SWITCHING JOBS February 21, 2010 PricewaterhouseCoopers The accountancy giant has taken on banking veteran Martin Allison as a director to head up its debt advisory services team in the North. Allison started his career at NatWest before working his way up the ladder to become head of international banking services at RBS until 2008. He has recently pursued a more [...]
JP Morgan Chase clinches deal for RBS Sempra assets February 16, 2010 ROYAL Bank of Scotland (RBS) has struck a deal with JP Morgan to sell off part of its RBS Sempra joint venture after months of negotiations. The US investment bank will pay around $1.7bn (£1.1bn) for the global metals and oil operations along with the European energy business. However, the deal excludes RBS Sempra’s North [...]
Towry Law will use a substantial US cash injection to integrate acquisitions January 26, 2010 TOWRY Law has received a substantial cash injection from a US investment firm, it was revealed yesterday. Asset Management Finance invested an undisclosed sum in the acquisitive UK company. AMF’s funding took the form of mezzanine financing, typically used to finance expansion. But sources close to the company said the money would be used to [...]
Increase in 2009 UK exports January 24, 2010 The value of UK exports increased by £723m between the second and third quarters of last year, according to analysis by NatWest and Royal Bank of Scotland. The research showed 17 per cent of the goods were exported from the South East – the highest proportion of any UK region. But the biggest growth was [...]
Britain is not heading for a hung parliament January 19, 2010 LAST year was tough for the banking industry, but it’s interesting to see which brands fared better than others. The two graphs show the proportion of positive responses each brand received out of the total responses for the set. Graph 1 tracks the three that did relatively well: Barclays, HSBC and National Savings and Investments. [...]
CITY MOVES | WHO’S SWITCHING JOBS January 17, 2010 Charles Stanley The City stockbroking firm has appointed Andrew Atkins as head of new fund sales and distribution. Atkins joins from Lloyd George Asset Management and will be in charge of distributing the firm’s entire fund range, including the new value boutique Matterley, acquired by Charles Stanley last year. In his new role, he will [...]
Virgin and Tesco banks are unlikely to upset big players January 11, 2010 THE UK’s top five banks will continue to dominate the market despite the recent glut of negative publicity. A new report from Datamonitor suggests new players entering the market have “missed the boat” and should have launched in the direct aftermath of the banking crisis. Customer inertia is seen as the biggest stopping point for [...]
NAB prepares to kick start consolidation December 17, 2009 NATIONAL Australian Bank (NAB) chief executive Cameron Clyne yesterday admitted it has received approaches about using its Clydesdale and Yorkshire operations to lead a banking consolidation drive in Britain. Speaking to shareholders at the institution’s annual meeting Clyne said: “We have been approached by a number of players in the UK market to see how we [...]