MF Global row drags in banks November 20, 2011 TWO American pension funds have launched legal action against seven banks, claiming they concealed problems over MF Global’s $6.3bn (£3.99bn) exposure to European sovereign debt. Royal Bank of Scotland, Goldman Sachs and JP Morgan Chase, as well as former MF Global boss Jon Corzine, are among those named in the suit. The registration statements and [...]
MF Global row drags in banks November 20, 2011 TWO American pension funds have launched legal action against seven banks, claiming they concealed problems over MF Global’s $6.3bn (£3.99bn) exposure to European sovereign debt. Royal Bank of Scotland, Goldman Sachs and JP Morgan Chase, as well as former MF Global boss Jon Corzine, are among those named in the suit. The registration statements and [...]
Paragon buys RBS consumer loans portfolio October 27, 2011 Buy-to-let mortgage specialist Paragon has agreed to buy a portfolio of unsecured consumer loans from part-nationalised British bank Royal Bank of Scotland for £43m, and added it could snap up further assets in the near future. “We are extremely pleased to announce a further loan portfolio acquisition through our investment division, Idem Capital,” Paragon Chief [...]
Blacks tanks as it seeks an Xmas buyer December 7, 2011 STRUGGLING outdoor equipment retailer Blacks Leisure yesterday put itself up for sale, sending its shares plummeting as it admitted it had failed to find an alternative route out of it funding troubles. Shares in Blacks, which have lost 90 per cent of their value since the start of the year, extended losses to close at [...]
CITY MOVES | WHO’S SWITCHING JOBS November 22, 2011 Coutts Coutts, the wealth division of Royal Bank of Scotland Group, has appointed Amir Sadr as head of the UAE market and private office in the Middle East, based in Dubai. In his new role, Sadr will develop Coutts’ ultra high net worth proposition in the Middle East, reporting to Alex Classen, chief executive of [...]
CITY MOVES | WHO’S SWITCHING JOBS November 22, 2011 Coutts Coutts, the wealth division of Royal Bank of Scotland Group, has appointed Amir Sadr as head of the UAE market and private office in the Middle East, based in Dubai. In his new role, Sadr will develop Coutts’ ultra high net worth proposition in the Middle East, reporting to Alex Classen, chief executive of [...]
Lloyds is harnessing the 2012 Games as a transformational opportunity October 18, 2011 COUNTDOWN TO THE LONDON 2012 OLYMPIC GAMES 282 DAYS TO GO Sally Hancock sets out why Lloyds Banking Group became a partner of the 2012 Olympics Q. What was your brand’s primary reason for being involved with the Games? A. We became the first National Partner of the London 2012 Olympic and Paralympic Games for [...]
Lloyds chief Horta-Osorio to take leave on health grounds November 2, 2011 Antonio Horta-Osorio is taking a break from his role as chief executive of part-nationalised British lender Lloyds Banking Group for health reasons, a source with knowledge of the matter told Reuters. The source said Horta-Osorio’s decision followed medical advice from doctors, but added that he was expected back at work before the end of the [...]
Lloyds chief Horta-Osorio to take leave on health grounds November 2, 2011 Antonio Horta-Osorio is taking a break from his role as chief executive of part-nationalised British lender Lloyds Banking Group for health reasons, a source with knowledge of the matter told Reuters. The source said Horta-Osorio’s decision followed medical advice from doctors, but added that he was expected back at work before the end of the [...]
BAA puts for sale sign over Edinburgh airport October 20, 2011 BAA announced plans yesterday to sell Edinburgh airport, bowing to the UK Competition Commission’s (CC) ruling to sell one of its Scottish airports in order to increase competition. The decision comes after a two-year battle between BAA and the CC, which in 2009 ruled that BAA, owned by Spanish infrastructure giant Ferrovial, exerted a dominant [...]