Metro Bank’s founder takes chairman role January 1, 2013 METRO Bank yesterday appointed its billionaire co-founder as its new chairman, almost three years after he was first mooted for the job. The firm, which launched in 2010 as the first new high street lender for more than a century, said Vernon Hill will take up his new post immediately. Hill, who was vice chairman, [...]
Former Lloyds wholesale boss joins ANZ in US December 20, 2012 TRUETT Tate, Lloyds TSB’s former global head of wholesale and international banking, is going to head up the Australia and New Zealand Banking Group’s (ANZ) New York office as chief executive and head of institutional relationship banking America, it was announced yesterday. Tate will take up his new post from 1 February 2013. He resigned [...]
Network Rail reveals that just seven in ten trains are on time December 20, 2012 FEWER than seven in ten trains were on time this year, according to Network Rail data out yesterday. New statistics show for the first time how many rail services make it to their stops early or within one minute of the operator’s schedule. Just 69.2 per cent of trains were this punctual in the year [...]
£250,000 extra to find a castle fit for a Carney December 19, 2012 INCOMING Bank of England governor Mark Carney will receive an annual housing allowance of £250,000 to cover the cost of renting in London, it was revealed yesterday. This is on top of his salary of £480,000 and an annual payment of £144,000 in lieu of pension contributions. The total package is worth £874,000 per annum. [...]
UK population growth fastest since the 1950s December 17, 2012 THE UK population has grown at its fastest pace since the post-war baby boom in the past decade, according to the 2011 census figures out yesterday. On census night, there were 63,181,775 people living in the United Kingdom, the Office for National Statistics said. The country has gained a net 4.1m people, or almost seven [...]
City scribbler aims to make a killing with thriller for charity December 16, 2012 THIS evening sees the launch of Michael Crawshaw’s thriller novel To Make A Killing, at the London Capital Club. Crawshaw has previously worked as head of European research at Citigroup and head of research at Schroders. However he has penned his debut Cit-lit to raise money for Joanna Lumley-backed charity Hands Together. The prime suspect [...]
As more Christmas shoppers choose to buy online, can the British high street survive? December 16, 2012 YES Rob Myers Regardless of how the internet evolves, you can’t try on a pair of the latest shoes or feel the quality of a gift for a loved one. Our research has shown that, far from killing the high street, the internet is lending itself as a valuable tool in the retailer’s armoury. The [...]
At the end of the day the business cliche just masks woolly mindedness December 13, 2012 LET’S open the kimono. The language of business is a joke. It now seems to be best practice to get your ducks in a row for corporate meetings by memorising phrases like value proposition, point person and core competency. At the end of the day, buzz phrases and bizarre metaphors may take it to the [...]
That’s a wrap: Citi’s tardy trader gets extra paperwork December 11, 2012 A TRADER over at Citi clearly hasn’t heeded The Capitalist’s recent warning about office Christmas party hijinks, which result in one in ten festive revellers being disciplined at work the next day. At a desk at Citi, one team decided to take the matter of punishment into their own hands when a colleague was AWOL [...]
Hedge fund’s new man to put a leash on costs December 10, 2012 HEDGE fund Man Group, the largest listed alternatives asset manager on the FTSE, yesterday turned the reins of the business over to its chief operating officer in a bid to drive home a cost cutting agenda and turn the faltering outfit around Emmanuel “Manny” Roman, who is the former co-chief executive of Man subsidiary GLG [...]