Tesco Bank’s chief exec says lenders don’t pay customers enough interest on current accounts February 2, 2017 The boss of Tesco Bank has hit out at high street rivals, claiming they make billions of pounds by skimping on the rate of interest paid to customers. Benny Higgins, who led the lender through a mammoth cyber attack on Tesco Bank last November, said the amount of switching between providers remains "stubbornly low", something lenders [...]
MPs call on Lloyds to pay up compensation following HBOS fraud trial February 6, 2017 A group of MPs has today called on Lloyds Banking Group to repay victims of a scheme run by two former HBOS bankers. The two men, Lynden Scourfield, 54, and Mark Dobson, 56, were among six people jailed last week for their roles in a plot which drove troubled businesses into the ground for their own profit, all while [...]
City Moves for 4 November 2016 | Who’s switching jobs November 4, 2016 Hastings Group Hastings Group has appointed Teresa Robson-Capps and Alison Burns as non-executive directors with immediate effect. Teresa is currently a non-executive director and member of the audit committee for Clydesdale and Yorkshire Bank Group and is chairman of the ACS Group. She was previously a non-executive director for National Australia Bank; Europe/Clydesdale Bank. Teresa brings significant [...]
Lloyds Banking Group vows to review cases of customers caught up in HBOS fraud, after two ex-bankers jailed February 7, 2017 Lloyds Banking Group today pledged to review the cases of customers who could have been caught up in a fraudulent scheme linked to two former HBOS employees. Last week, two ex-HBOS bankers were among six people jailed for their roles in a ruse to drive small businesses into the ground for their own personal gain, running up [...]
City Moves for 6 September 2016 | Who’s switching jobs September 6, 2016 CBRE Sir Edward Lister has been appointed as a consultant to CBRE, the global real estate advisor. Sir Edward was most recently the mayor of London’s chief of staff and deputy mayor for policy and planning. In his new role, he will work with CBRE’s One London team in advising its clients on public sector engagement [...]
The City’s pay schizophrenia will fuel discord March 17, 2017 There won’t be much sympathy on the streets of the City today for the eight dozen-or-so people who chair FTSE-100 remuneration committees. Call it Thumbscrews Day, if you like – because by the close of play, Whitehall will have been deluged with all sorts of funky ideas about how boards should be addressing the Prime Minister’s desired clampdown on [...]
UK banks still vulnerable to a “toxic cocktail” of taxpayer bailout risks says Treasury Select Committee chair December 19, 2016 The UK’s banks are still vulnerable to a “toxic cocktail” of risks for which the taxpayer may have to foot the bill, according to the head of the Treasury Select Committee (TSC). TSC chair and Conservative MP Andrew Tyrie is launching a new inquiry into the sector, stating that the public has a right to know [...]
Struggling Co-op Bank is up for sale, but analysts warn nobody may want to, or be able to, buy February 13, 2017 The Co-operative Bank announced this morning it was putting itself up for sale, but analysts have warned it might be tricky to find somebody to snap up the struggling bank. The bank, which is currently 20 per cent owned by the wider Co-operative Group, had been undertaking an ambitious turnaround plan, after a £1.5bn black hole [...]
Meet Masthaven: The latest challenger bank on the scene November 28, 2016 Masthaven has become the latest challenger bank on the scene, as it officially opens for business today. The bank was initially awarded its retail banking licence in April and has spent the time between then and now strengthening its team and developing its technology platform and product offering. At present, the challenger offers a flexible [...]
Thinking of switching to Co-op Bank? Here’s why you should move quick November 9, 2016 Those weighing up their options for a new current account might want to make their move before the end of this week. Co-op Bank's £150 bonus for those switching to one of its current accounts is ending on Friday. The bank started offering the sweetener six months ago, and, since then, current account sales have rocketed [...]