Shares in TSB for sale by end of June as Lloyds kicks off £1.5bn flotation May 1, 2014 RETAIL investors will get a chance to buy shares in new high street bank TSB by the end of June, Lloyds said yesterday. The group is selling off the bank as part of the terms of its 2008 bailout. Up to 40 per cent of TSB is likely to be on offer in the first [...]
Shareholders to take on Lloyds over HBOS deal October 27, 2014 FORMER Lloyds TSB shareholders are gearing up for legal action over the ill-starred acquisition of Halifax Bank of Scotland (HBOS), in one of the largest funded actions ever started in the UK. Lawyers acting for thousands of retail and City institutional investors are looking for millions of pounds from the bank over claims it misled [...]
Home loan rates set to drop more as HSBC introduces record low mortgage of 0.99pc November 19, 2014 Mortgage rates are poised to break new records and edge even further down. HSBC recently made headlines by introducing a record low mortgage rate of 0.99 per cent, with economists from the bank predicting policy rates would stay at their all-time lows of 0.5 per cent until at least 2016. It looks unlikely to end [...]
City Moves for 19 December 2014 | Who’s switching jobs December 18, 2014 FTI Consulting Clare Hartnell has been appointed senior managing director in the business advisory firm’s European tax advisory practice, focusing on real estate tax. She was most recently global leader of Grant Thornton’s real estate and construction practice, and has also worked at BDO. EY Monica Dimitracopoulos has been appointed principal and global knowledge transformation [...]
Challenger banks Virgin Money and Yorkshire Building Society call for RBS and Lloyds to be split up November 10, 2014 Small lenders are calling on the competition watchdog to look at breaking up RBS and Lloyds, arguing the market is too focused on giant players. The Yorkshire Building Society (YBS) and Virgin Money have both written to the Competition and Markets Authority (CMA) to push for the big banks to carve out more new challengers from [...]
Virgin Money cautiously lays out plans for £2bn listing this week September 29, 2014 VIRGIN Money is planning to announce its initial public offering (IPO) this week, City A.M. understands. But the challenger bank remains cautious in case market conditions change rapidly in the face of ongoing turmoil in the Middle East. Virgin Money will join new lender Aldermore in the rush of financial firms listing on the stock [...]
City Moves for 10 December 2014 | Who’s switching jobs December 9, 2014 Lambert Smith Hampton The commercial property consultancy has appointed Kenneth Hogg as a director in its London valuation team. He has 24 years’ experience in commercial property, and joins from Davis Coffer Lyons. TSB Craig Bundell has been appointed head of credit cards at the bank. He joins from Mastercard, where he held the position [...]
City Moves for 11 December 2014 | Who’s switching jobs December 10, 2014 Baringa James Belmont joins the management consultancy as director of its new risk analytics service. Belmont has over 15 years’ experience in consultancy and industry, and has held senior positions at Barclays, Alliance & Leicester and PA Consulting. Linklaters The law firm has appointed Scott Campbell as managing partner for the United Arab Emirates. The [...]
TSB scraps its premium calls February 2, 2014 NEW HIGH street bank TSB today pledged to replace its premium-rate phone numbers over the coming months. The lender, which is part of Lloyds and will be sold off in the coming months, is replacing its 0845 premium numbers with 0345 local numbers. It comes after a campaign from consumer group Which? to reduce the [...]
HSBC’s Carole Plant joins 100 leading ladies October 1, 2014 Somerset House played host to some of the UK’s most successful women last night as photographer Nancy Honey launched her new portrait book, 100 Leading Ladies. The business world got more than a passing nod, with Coast chief Kate Bostock, former chief of Lloyds TSB Scotland Lady Susan Rice and HSBC’s Carole Plant. “I came [...]