Expecting RBS profits is living in a fool’s paradise December 21, 2016 In just 10 days from now you will likely find yourself celebrating the end of 2016, and the start of a new year. If your headache the following morning isn’t bad enough, consider this – a decade earlier, on 1 January 2007, a share in the Royal Bank of Scotland was worth £55.80. Today, its [...]
Treasury committee chairman seeking assurances from high street bank bosses on IT health September 29, 2016 The chairman of the influential Treasury Select Committee (TSC) Andrew Tyrie has written to the chief executives of two of the UK's biggest banks over recent IT failures. City A.M. understands Tyrie will publish letters to the bosses of Royal Bank of Scotland and HSBC tomorrow morning. Tyrie has also written to the heads of the financial regulators the Financial Conduct [...]
When fintechs and banks go speed dating February 8, 2017 While the seemingly age-old debate about whether fintech startups will kill banks still rages on, FinovateEurope demonstrates why that question is now largely redundant – things have moved on. The 80 startups on stage at the two day event in the heart of the City are pitching the banks, insurers and City institutions in attendance more [...]
RBS and Barclays among cartels of banks fined by Swiss watchdog for rate rigging December 21, 2016 The Swiss Competition Commission (Comco) has today fined a group of international banks 99m Swiss francs (£78m) over their involvement in four separate cartels, including some aimed at manipulating Libor. The largest element of the fine went to a group of four banks which Comco claims acted in a cartel to fix Euribor for various lengths of time [...]
New Queensferry Crossing creating a catalyst for investment September 13, 2017 The royal opening of the Queensferry Crossing, signalled the successful culmination of the biggest infrastructure project in Scotland for a generation. Exactly 53 years since Her Majesty opened the adjacent Forth Road Bridge, The Queen officially cut the ribbon to open the £1.35bn Queensferry Crossing on Monday 4 September 2017. World-class engineering The new iconic [...]
Santander returns to negotiating table for RBS’ Williams & Glyn November 7, 2016 Santander has had a change of heart about Royal Bank of Scotland's Williams & Glyn, tabling a new bid for the bank. RBS has been told to divest of its interest in Williams & Glyn, and its more than 300-strong branch network, by the end of 2017 as part of its £45bn state bailout deal. Now, [...]
Challenger bank CYBG confirms Williams & Glyn takeover talks October 26, 2016 Challenger bank CYBG today confirmed that it has engaged in talks with Royal Bank of Scotland over the possibility of buying Williams & Glyn. RBS was instructed to sell the business as part of its £45bn state bailout deal, and was set a deadline of the end of 2017 – a date the bank warned it [...]
City Moves for 19 December 2016 | Who’s switching jobs December 19, 2016 Fitch Fitch has appointed Sean Costello as head of its EMEA corporates banker team. Sean joins from Commerzbank where he was head of loan capital markets within their leveraged finance group. Sean joined Commerzbank in August 2005 from the leveraged loan distribution team at Bank of Scotland and prior to that, NIBC Bank and NatWest Capital Markets. With [...]
This is how UK banks have responded to the Bank of England stress test results November 30, 2016 The results of the Bank of England's latest stress tests on the UK's major lenders are out – and Royal Bank of Scotland has been handed the wooden spoon. RBS failed on all measures, while Barclays and Standard Chartered both missed out on one measure. The other banks being tested were Santander UK, Lloyds Banking Group, [...]
Amazon Development Centre Edinburgh devising and growing global innovations July 31, 2017 More than 4,000 miles from its global headquarters in Seattle, Washington, the world’s largest online retailer, Amazon, employs a crucial team of people at its Development Centre in Edinburgh. The hundreds of software engineers, machine learning scientists, designers and managers harness the latest technology and computer science to build features that help customers discover the [...]