Red-faced KPMG says sorry for internal payments error April 30, 2012 ACCOUNTANT KPMG has been forced into an embarrassing apology to staff after the company failed to pay its staff on time. In an ironic twist, KPMG – which is accustomed to dishing out advice to firms on how to manage their own accounting systems – has been caught out itself after an administrative blunder left [...]
Top pay under fire at Standard Chartered bank April 29, 2012 STANDARD Chartered is heading for a bust-up over how much it pays its top staff, after investor advisory group Pirc advised its members to vote down the bank’s remuneration report. The bank plans to pay out $92.1m (£56.6m) to its top 13 staff, which includes five board members, for last year. Pirc is thought to [...]
Chartered Financial Analysts open doors April 25, 2012 DANIEL MURRAY EFG ASSET MANAGEMENT DR DANIEL Murray, global head of research at EFG Asset Management, decided to undertake the chartered financial analyst (CFA) qualification when he realised that, although very well-qualified academically, he “wasn’t always speaking the same language as other people. There were some holes in my knowledge, so my reasons were educational,” [...]
FPC is set to hit lending, warns HSBC chairman April 22, 2012 HSBC chairman Douglas Flint has joined the chorus of criticism against the Bank of England’s new financial policy committee (FPC) and warned it could reduce the pool of capital, increase lending costs and hit borrowing. Flint used a major speech to warn of the “material impact” the committee could have on access to credit and [...]
RAPID RESPONSES April 17, 2012 Kept in plain sight [Re: Plain packaging: a charter for counterfeiters, yesterday] Plain packs are much easier to counterfeit. Slim cigarettes are rarely counterfeited because their pack design is of a non-standard size, and their artwork is difficult to reproduce without professional printing equipment. Plain packs standardise all pack sizes. This will increase the counterfeiters’ [...]
We need an open contest to decide who will run the Bank April 12, 2012 THERE is no doubt that George Osborne’s most important decision over the next few months will be who he appoints as the next governor of the Bank of England. That job, which becomes vacant next year, is by a huge distance the most powerful unelected position in the UK; its formal powers now span monetary [...]
StanChart boss bows out of governor race April 11, 2012 PETER Sands, the chief executive of Standard Chartered Bank, last night ruled himself out of the running for the job as the next governor of the Bank of England (BoE). Sands issued a statement to City A.M. through a spokesman after this newspaper spoke to a number of people close to the banker. Many had [...]
Runners and riders in the race to take King’s throne April 11, 2012 STANDARD Chartered chief executive Peter Sands yesterday became the first candidate to definitively rule himself out of the race to succeed Mervyn King, Bank of England governor. His appearance on the scene and exit leaves only two bankers as possible successors to King, whose final term as governor ends in June 2013. The timeline leaves [...]
Runners and riders in the race to take King’s throne April 11, 2012 STANDARD Chartered chief executive Peter Sands yesterday became the first candidate to definitively rule himself out of the race to succeed Mervyn King, Bank of England governor. His appearance on the scene and exit leaves only two bankers as possible successors to King, whose final term as governor ends in June 2013. The timeline leaves [...]
We need an open contest to decide who will run the Bank April 11, 2012 THERE is no doubt that George Osborne’s most important decision over the next few months will be who he appoints as the next governor of the Bank of England. That job, which becomes vacant next year, is by a huge distance the most powerful unelected position in the UK; its formal powers now span monetary [...]