Davies says no to Lloyds May 20, 2010 LORD Davies, the former chief executive of Standard Chartered Bank, has been asked whether he might consider taking the same position at Lloyds Banking Group. Davies, who held a government role until the election, was asked the question by Lloyds chairman Sir Win Bischoff at a recent meeting, revealed first by Sky News. Davies gave [...]
FTSE ends lower as Barclays leads banking sector retreat August 5, 2010 BRITAIN’S top shares closed down yesterday, with Barclays leading banking shares lower after it posted first-half numbers and downbeat US weekly jobless claims data later in the day only adding to the downward pressure. The FTSE 100 closed down 20.38 points, or 0.4 per cent, at 5,365.78, having fallen back from a session high of [...]
CITY VIEWS: ARE YOU FED UP WITH THE CONSTANT IPHONE UPGRADES? June 8, 2010 RUSSELL HARRISON | NATWEST PRIVATE BANKING “I find it very useful especially the map and the GPS. I don’t think people will get fed up with upgrades because Information technology is always going to be useful.” FABIEN HUESO | LLOYDS BANKING GROUP “I am very happy. I don’t feel pressured at all because I am [...]
AT A GLANCE | KEY DETAILS OF THE STRESS TESTS July 7, 2010 The objective The stress tests aim to assess the resilience of the EU banking sector and banks’ ability to absorb further possible shocks on credit and market risks, including sovereign risks, and to assess their current dependence on taxpayer support measures. How the tests will work The programme will be conducted on a bank-by-bank basis [...]
Lloyds November 3, 2010 IT was a Spanish newspaper report rather than a falling share price that prompted Lloyds to rush out the news that Antonio Horta-Osorio was set to take the reins yesterday. However, the overdone sell-off that followed the bank’s third quarter update on Tuesday, which sent the firm’s stock down 3.2 per cent, provided proof that [...]
Lloyds October 31, 2010 THE market isn’t expecting any nasty surprises from Lloyds when it reports third quarter numbers tomorrow. Its net interest margin, which was at 2.08 per cent in the first half, should improve modestly, as Lloyds reprices the front and back of its mortgage and loan books. However, the momentum is beginning to falter: there’s only [...]
Reform needed – but City vital to UK December 15, 2010 AT last, some facts to enlighten a debate mired in hysteria, demagoguery and ignorance. The much-maligned financial services industry contributed an estimated £53.4bn to UK government taxes in the 2009/10 financial year, 11.2 per cent of the total UK tax take, according to a report today from the City of London Corporation. The banks are [...]
New non-exec for Lloyds November 16, 2010 LLOYDS has added a new non-executive director to its board, with current-Victrex chair Anita Frew joining from 1 December. Victrex is a FTSE 200 manufacturing firm, but Frew also has experience in investment and banking from her time at the Royal Bank of Scotland and through her non-executive position at Aberdeen Asset Management. Her appointment [...]
New non-exec for Lloyds November 16, 2010 LLOYDS has added a new non-executive director to its board, with current-Victrex chair Anita Frew joining from 1 December. Victrex is a FTSE 200 manufacturing firm, but Frew also has experience in investment and banking from her time at the Royal Bank of Scotland and through her non-executive position at Aberdeen Asset Management. Her appointment [...]
TEMPERS FLARE AT PWC CAROL SERVICE December 22, 2010 YOU might think that playing the organ at the office Christmas carol service is a pretty uncontroversial activity. Not so for a professional organist (as they’re called) engaged for PricewaterhouseCooper’s annual festive singsong. The stage was set, the decorations tweaked and the set list compiled when all went awry. Details are hard to come by, [...]