Dealmakers thrive in City’s flotation frenzy September 14, 2014 DEALMAKER of the year Although there has been a dearth of mergers and acquisitions so far this year, there has been a rash of initial public offerings (IPOs) for our dealmakers to get their teeth into. There has been some exciting deals for bankers to get a buzz from. Verizon Wireless’ $130bn deal to take [...]
TSB’s lending decisions aren’t that local after all September 10, 2013 The boss of Lloyds spin-off TSB says that the new project will "bring local banking back to Britain". All money put with a local branch is intended only to support a local loan or mortgage. Decisions over how that borrowing is issued isn't as decentralised as that may imply. Paul Pester, chief executive office, TSB: [...]
OneSavings Bank set to float as demand comes in at lower price June 4, 2014 ONESAVINGS Bank, the group created in 2010 when the Kent Reliance Building Society was rescued by a £50m cash injection from private equity group JC Flowers, is set to press ahead with its flotation after getting sufficient demand from investors at the lower end of its price range. Shares will be priced at 170p, right at [...]
Bottom Line: Slow and steady wins this race to market June 16, 2014 ONE NEEDS to look no further than the World Cup for a reminder of how people love to swing from one extreme to the other. An embarrassing 5-1 defeat to the Netherlands, for example, and suddenly Spain – the current World Cup holders and winners of the last two European Championships – are deemed to be [...]
Virgin on ridiculous: Four businesses showing how Richard Branson likes to “fail fast” September 8, 2014 It was only a year ago that Richard Branson was prancing around in a red kilt during the opening of Little Red, his domestic airline for the UK, which was designed to provide competition after British Airways owner International Airline Group acquired BMI. Since its launch, though, Little Red has been dogged by rumours [...]
Send money via mobile numbers April 29, 2014 Bank customers can now send money to each other by using their mobile phone numbers, after a new service named Paym launched yesterday. The company said that customers of the Bank of Scotland, Barclays, Cumberland Building Society, Danske Bank, Halifax, HSBC, Lloyds Bank, Santander and TSB will all be able to send and receive payments. [...]
Private equity firms consider bidding for TSB September 22, 2013 LLOYDS has reportedly received a number of approaches from private equity firms looking to buy its TSB business, which was split from the state-backed bank earlier this month. US-headquartered firm JC Flowers is among the interested parties, according to the Sunday Telegraph. New York-based AnaCap is also believed to have expressed an interest. The approaches [...]
TSB boss has museum epiphany September 9, 2013 THE GHOST of retail bankers past inspired the decision to resurrect the TSB brand name out of the huge variety of old high street brands which have been subsumed into the Lloyds Banking Group, its new boss revealed yesterday. Reverend Henry Duncan founded the Trustee Savings Bank in 1810 in Ruthwell, and had such an [...]
City Moves for 20 June 2014 | Who’s switching jobs June 19, 2014 Secure Trust Bank John Simpson has been appointed managing director of the bank’s motor finance division, which operates under the Moneyway brand. Simpson’s 30-year career has seen him take senior roles at GE Capital Woodchester, Manheim Retail Services and Manheim Europe. TSB Des McDaid joins the bank as head of savings. He has over 25 [...]
London Report: FTSE drops on worrying data on the economy June 24, 2014 BRITAIN’S top share index slipped slightly yesterday, led lower by mining stocks, as signs of economic weakness in Europe and growing tension in Iraq made investors cautious. The FTSE 100 closed down 0.2 per cent, or 13.49 points, at 6,787.06 points following gains in early trade. The UK mining index, down 0.8 per cent, was [...]