Santander’s £20bn London float on hold September 19, 2010 SPANISH banking giant Santander could delay a planned £20bn flotation of its UK business on the stock market until the Spring due to uncertainty over the economy. The bank’s six acquisitions in the last four months and new capital rules have fuelled speculation the bank will spin off its UK arm his Autumn but a [...]
Hester to join commission’s public debate September 26, 2010 STEPHEN Hester, the chief executive of the Royal Bank of Scotland, at the weekend became the first of the UK’s biggest bank bosses to commit to playing a role in the independent banking commission’s upcoming public debates. The debates, five of which will be held before the New Year, are designed to engage the general [...]
FTSE falls as economic woes hit banks and commoditiesTHE LONDON REPORT August 18, 2010 Banks and commodity stocks pushed Britain’s top shares lower yesterday, with worries over the global economic recovery knocking sentiment and weak volumes exacerbating stock moves as the FTSE 100 remained range-bound. The FTSE 100 closed down 47.68 points, or 0.9 per cent, at 5,302.87 after ending 1.4 per cent higher on Tuesday at 5,350.55 for [...]
Barclays’ Agius to take helm at BBA September 7, 2010 BARCLAYS chairman Marcus Agius yesterday announced he would step up to chair the British Bankers’ Association after HSBC chairman Stephen Green resigned to take up a new appointment as UK minister for trade and investment. Agius, a former Lazard investment banker, has chaired Barclays since the beginning of 2007. He has maintained a lower profile [...]
Banks drag FTSE down as concerns over US recovery harms sentiment September 22, 2010 BRITAIN’S top shares fell yesterday, led by banks as worries over the economic recovery in the US and lack of action taken by the Federal Reserve hit sentiment, offsetting gains in miners. The FTSE 100 ended down 24.28 points or 0.4 per cent at 5,551.91, after falling 0.5 per cent on Tuesday. The US central [...]
RETAIL BANK OF THE YEAR September 5, 2010 LIFE is still hard for banks, especially the high-street variety. One of our list is government-owned, others are engaged in a vicious fight to entice customers with tasty offers, and one is a brave and innovative newcomer. All are fascinating – and well-known – companies in this vital and fast-changing sector. Don’t miss the City event [...]
GOVERNANCE TRAINSPOTTERS GET KNICKERS IN A TWIST OVER FLINT September 27, 2010 IT’S been a tiring week for HSBC, which is currently juggling the handling of a full-scale management game of musical chairs, the fallout from its leaky succession-planning AND a band of disgruntled sticklers for corporate governance among its shareholder base. So it’ll come as a welcome surprise for the bank to learn that a conservative [...]
CITY MOVES | WHO’S SWITCHING JOBS October 4, 2010 Yell Group The company behind the Yellow Pages has appointed Tony Bates as chief financial officer, effective from 22 November. He will also take up the role of executive director from 1 November. Bates, 54, served as chief operating officer at Colt from 2002 until the end of July. Before this he was with record [...]
FSA hauls in bank execs over bonuses September 23, 2010 TOP officials from Britain’s largest banks have met at the Financial Services Authority (FSA) to discuss the regulator’s proposed crackdown on banker’s bonuses and pay. Last month heads of remuneration from each of the top banks met at the financial watchdog to discuss ways in which the banks would adhere to the revised remuneration code, [...]
FTSE 100 bounces back after a strong performance from the financial sector October 18, 2010 Britain’s top shares rebounded yesterday after falls in the past two sessions, boosted by oils and banks, with better-than-expected results from Citigroup and hopes of more US economic stimulus improving sentiment. The FTSE 100 index ended 39.15 points, or 0.7 per cent, higher at 5,742.52 after falling last Thursday and Friday. The index is up [...]