Who’s switching jobs September 12, 2012 Axa UK Yves Masson has been appointed to the position of chief executive of personal direct and partnerships at the UK division of the insurance and asset management group. He has worked at Axa since 1985, and was most recently chief executive of Axa Direct Assurance. Masson has also previously served as chief executive of [...]
City Moves Who’s switching jobs September 9, 2012 RSA Caroline Ramsay has been appointed group chief auditor at the insurance company. She replaces Anne Jaeger, who has become chief risk and compliance officer for RSA Scandinavia. Ramsay joined the firm in 2007 as group financial planning and analysis director, and was most recently UK and Western Europe finance director. Signia Wealth The wealth [...]
FSA launches Libor rate overhaul August 10, 2012 Libor benchmark interest rates are no longer “fit for purpose” and must be changed or replaced, Britain’s regulator said today as he set out proposals to restore their credibility. The initial review by the Financial Services Authority (FSA) is the first concrete step to reforming Libor after a rigging scandal that has dragged in global [...]
What the other papers say this morning September 5, 2012 FINANCIAL TIMES Citigroup targets European banks Citigroup is launching a commodity trade finance business to capitalise on the pullback from the market by European lenders such as BNP Paribas. European banks including BNP and Crédit Agricole are scaling back their presence to limit their need for scarce dollars and comply with tougher regulatory capital requirements. [...]
ADVISERS GKN’S PURCHASE OF VOLVO AERO July 5, 2012 TIMOTHY Shacklock is leading the team at Gleacher Shacklock that advised GKN, alongside joint adviser and joint bookrunner UBS. Shacklock, the former deputy chairman of Dresdner Kleinwort Wasserstein, founded Gleacher Shacklock in 2003. He has advised on a number of Europe’s most prominent corporate finance transactions, including the reorganisation of British Aerospace in the 1990s, [...]
RBS expected to announce costs for IT blunder August 2, 2012 ROYAL Bank of Scotland is expected to announce plans to set aside millions of pounds today to pay for costs related to its computer blunder in June, which left it unable to process customer transactions. The bank, which is 82 per cent owned by the taxpayer, will reveal its first interim results since the meltdown [...]
City Moves | Who’s switching Jobs August 21, 2012 Chartered Institute of Internal Auditors David Lyscom has been appointed policy director of the professional membership body. He is a former UK ambassador to the Organisation for Economic Cooperation and Development (OECD), and was also previously UK ambassador to Slovakia and the International Energy Agency (IEA). He will report to Dr Ian Peters, the institute’s [...]
RBS reveals its refund plans July 10, 2012 THE ROYAL Bank of Scotland said yesterday that it will refund all charges incurred by its customers during the IT glitches that have left many account holders unable to access their cash over the past few weeks. RBS also said it would reimburse customers of other banks who were hit as part of the crisis, [...]
Takeover offers threaten to hit Direct Line plans for flotation July 15, 2012 DIRECT Line could see plans for a flotation dashed by two takeover bids, just weeks before its owner Royal Bank of Scotland is expected to file for the £3.2bn listing. American private equity firms Blackstone and Bain Capital are preparing a joint bid while a consortium of Kohlberg Kravis Roberts, Apax and BC Partners is [...]
Now Scotland probes firms over rate fixing July 3, 2012 SCOTTISH prosecutors yesterday went public with their own investigation into the banking sector. The Crown Office confirmed that an ongoing probe into the financial sector in Scotland will be extended to cover Libor-rigging “as a result of recent developments”. It said the probe had been underway for some time, but decided to reveal its investigation [...]