POOR SIR FRED June 18, 2009 SIR FRED Goodwin, the former chief executive of Royal Bank of Scotland, is to hand back nearly a third of the £555,000-a-year pension he was awarded on leaving the bank. Goodwin will now take home £342,500 a year, or a total of £9m, after a deal was hammered out between RBS, the Treasury and UK [...]
POOR SIR FRED June 18, 2009 SIR FRED Goodwin, the former chief executive of Royal Bank of Scotland, is to hand back nearly a third of the £555,000-a-year pension he was awarded on leaving the bank. Goodwin will now take home £342,500 a year, or a total of £9m, after a deal was hammered out between RBS, the Treasury and UK [...]
Gartmore snatches European fund star Bennett from GAM June 18, 2009 ACCLAIMED fund manager John Bennett is leaving asset manager GAM after 16 years at the group, to take over Gartmore’s giant European retail funds. Glaswegian Bennett is to take over the £1.5bn Gartmore European Selected Opportunities fund and its £1.6bn Luxembourg-domiciled sister fund from star managers Roger Guy and Guillaume Rambourg. Guy and Rambourg are [...]
Gartmore snatches European fund star Bennett from GAM June 18, 2009 ACCLAIMED fund manager John Bennett is leaving asset manager GAM after 16 years at the group, to take over Gartmore’s giant European retail funds. Glaswegian Bennett is to take over the £1.5bn Gartmore European Selected Opportunities fund and its £1.6bn Luxembourg-domiciled sister fund from star managers Roger Guy and Guillaume Rambourg. Guy and Rambourg are [...]
Brown cedes City oversight powers to EU June 18, 2009 PRIME Minister Gordon Brown ceded some regulatory powers to the EU yesterday, but stopped short of giving it a direct role in policing the City of London. Brown backed plans for tougher cross-border supervision of banks, but insisted ultimate control had to rest with national governments. Under plans being hammered out by EU nations three [...]
Brown cedes City oversight powers to EU June 18, 2009 PRIME Minister Gordon Brown ceded some regulatory powers to the EU yesterday, but stopped short of giving it a direct role in policing the City of London. Brown backed plans for tougher cross-border supervision of banks, but insisted ultimate control had to rest with national governments. Under plans being hammered out by EU nations three [...]
CITY VIEWS: DO YOU AGREE WITH SIR GOODWIN GIVING UP HALF HIS PENSION? June 18, 2009 NORMAN HEMMING ACCENTURE“I’m quite glad he did something, but I am surprised because I thought he would stand his ground. I didn’t get the impression he was all that bothered about what the public thought of him, though I don’t actually think this will be enough to placate them anyway.”HANNAH OLATUNDE BANKING LAWYER“I think there’s [...]
CITY VIEWS: DO YOU AGREE WITH SIR GOODWIN GIVING UP HALF HIS PENSION? June 18, 2009 NORMAN HEMMING ACCENTURE“I’m quite glad he did something, but I am surprised because I thought he would stand his ground. I didn’t get the impression he was all that bothered about what the public thought of him, though I don’t actually think this will be enough to placate them anyway.”HANNAH OLATUNDE BANKING LAWYER“I think there’s [...]
Fighting talk as Geithner wants action June 18, 2009 US TREASURY Secretary Tim Geithner yesterday testified before lawmakers, as he fought for proposals from President Barack Obama which will lead to the biggest overhaul of the US system of financial regulation since the 1930s. Geithner yesterday urged Congress to act quickly on the administration’s reforms, saying past efforts had started too late after the [...]
Fighting talk as Geithner wants action June 18, 2009 US TREASURY Secretary Tim Geithner yesterday testified before lawmakers, as he fought for proposals from President Barack Obama which will lead to the biggest overhaul of the US system of financial regulation since the 1930s. Geithner yesterday urged Congress to act quickly on the administration’s reforms, saying past efforts had started too late after the [...]