Colombian billionaire Jaime Gilinski beefs up Metro Bank stake May 10, 2020 Colombian tycoon Jaime Gilinski has tightened his grip on Metro Bank after ramping up his stake in the troubled lender. Gilinski, formerly the largest investor in TSB’s Spanish owner Sabadell, has increased his holding to nine per cent, the Sunday Times reported. In December the mogul, who holds his stake through British Virgin Islands-based Spaldy [...]
Watchdogs propose tougher rules to limit banking services glitches December 5, 2019 UK regulators have proposed new rules to make banks and payment firms more resilient to major problems in the wake of TSB’s IT meltdown. MPs called for regulatory changes in October after repeated technological failures by lenders such as TSB, Visa, Barclays and RBS. Read more: TSB IT meltdown blamed on data centre test failure [...]
Regulators to review financial sector levy in the wake of “unacceptable” IT failures March 13, 2020 Regulators have welcomed a number of reforms to the financial services sector after the Treasury Committee called its IT failures “unacceptable”. The Treasury Committee’s report, which was published last October, called on the regulators to address the growing number of tech issues in the financial services sector. As part of the proposed reforms, the committee [...]
Just Eat boss Peter Duffy moves to Moneysupermarket May 15, 2020 Just Eat boss Peter Duffy has been appointed as chief executive of price comparison website Moneysupermarket. Duffy, who was chief commercial operator at Easyjet before he joined takeaway giant Just Eat, will take the reins at Moneysupermarket from 1 September. He will replace Mark Lewis who announced he would step down as chief executive in [...]
Santander closing 111 bank branches across the UK, with 840 roles affected March 25, 2021 Santander closing 111 bank branches across the UK, with 840 roles affected
Sabadell reportedly plans to sell TSB when it becomes profitable again December 7, 2018 Spanish lender Sabadell plans to eventually merge or sell its TSB unit once it has returned the bank to profitability, it is reported. Sabadell chairman Josep Oliu said options for the British bank, which was hit by a costly IT meltdown earlier this year, would be looked at in due course. “The aim is that TSB enters into a process [...]
Judgment imminent in Lloyds’ shareholders £600m financial crisis-era group action October 31, 2019 The long-awaited judgment in a financial crisis-era shareholder action against Lloyds Banking Group and five former directors of Lloyds TSB is expected imminently, according to people close to the case. The £600m claim focused on Lloyds TSB’s acquisition of HBOS in autumn 2008 at the height of the financial crisis. The claimant group of 300 [...]
Ethical capitalism can rebuild the world for the better August 3, 2020 The time has come for ethical capitalism — not as an optional extra, but as something that is critically important for consumer trust in business to flourish in the wake of the Covid-19 pandemic. The public is brassed off with businesses not paying their dues to society, and their voices are getting louder. They are [...]
TSB backs Met with £200,000 fund to fight fraud in London after last year’s IT chaos January 9, 2019 Bank TSB has invested £200,000 in a partnership with the Metropolitan Police to fight fraud and cybercrime. The bank, which suffered a string of IT outages last year that led to the exit of its chief executive Paul Pester, said the scheme was aimed at fraud prevention and enforcement. TSB was hit by extreme levels [...]
What role will cash play in the post-Covid recession? August 19, 2020 With the UK plunging into what the chancellor has called an “unprecedented” recession, what can we learn from the downturn in 2008 about the role of cash and its importance to people and businesses under economic pressure? Cash underpinned the economy and consumer spending habits after the 2008 recession. Will 2020 be significantly different? I’d [...]