-
Lloyds bank freezes pay for 1,000 senior managers
December 20th, 2011Lloyds Banking Group plans to freeze pay for 1,000 top executives, in response to growing concern from shareholders, politicians and the public over executive pay.
Read the rest of this entry »
The bank has already announced that it plans to cut 15,000 jobs to cut costs, and are now favouring a pay freeze for the top one per cent of senior management.
Last [...] -
Spirit Pub Company to lose Chief Executive
September 26th, 2011The current leader of one of Britain’s biggest pub companies is looking to step down by the end of the year.
Read the rest of this entry »
Ian Dyson has been with the company for a year; during this time he oversaw the demerger of Punch Taverns and Spirit – after the former reached debts of £3 billion.
The company’s current Deputy Chief [...] -
UBS CEO resigns after rogue trader incident
September 26th, 2011The chief executive of the Swiss Bank has resigned after the recent unauthorised trading incident.
Read the rest of this entry »
Oswald Grubel has taken responsibility for the loss of $2.3 billion due to a rogue trader and has stepped down as leader of UBS.
Kaspar Villiger, Chairman of UBS, says: “The Board regrets Oswald Grübel’s decision. Oswald Grübel feels that it is [...] -
UBS investment bank to cut jobs after rogue trader controversy
September 19th, 2011UBS investment bank to cut jobs after rogue trader controversySwiss banking giant UBS is reportedly set to carry out more job cuts, after a rogue trader cost it up to $2.3 billion.
Read the rest of this entry »
UBS revealed on Thursday (15 September 2011) that it had uncovered a case of unauthorised trading by a trader in the Investment Bank, which [...] -
HSBC to announce 30,000 job losses
August 1st, 2011The international retail bank may be cutting 30,000 jobs despite posting pre-tax profits of over six billion pounds.
Read the rest of this entry »
HSBC’s profits for the six months leading to June 30 2011 were £6.7 billion – down from the same time last year where they were £7 billion. The bank plans to implement cost-cutting plans due to these ‘disappointing’ [...] -
Financial Service workers expect £3.1bn pay hike
May 16th, 2011Financial services professionals are expecting a 13.5% pay rise in 2011, which would cost employers over three billion pounds.
Read the rest of this entry »
Research from the accountancy and financial services recruiter, Marks Sattin, found that at the beginning of 2010 these professionals had expected over a 13% pay rise and only received an eight per cent rise – £1,800, per [...] -
SocGen in talks to buy French regional bank
June 14th, 2010Posted in Finance | No Comments »Societe Generale advanced on news that its Credit du Nord unit is in exclusive talks to buy a French retail bank from BPCE for €872m.
Read the rest of this entry »
Societe Marseillaise de Credit, or SMC, operates in south-east France through 144 branches and serves around 200,000 customers.
If the acquisition goes ahead, the Tier-1 impact for Societe Generale is [...] -
LSE turns to technology to rebuild its reputation
June 14th, 2010Posted in Finance | No Comments »The London Stock Exchange has a fight on its hands. Having been dogged by a failing, inflexible and expensive trading platform at a time of increased competition, falling volumes and market volatility, the exchange hopes that a technology-driven comeback will repair its image in the global arena.
Read the rest of this entry » -
HSBC names global co-head of financial institutions
June 14th, 2010Posted in Finance | No Comments »HSBC has appointed a former head of the financial institutions group for Europe at Lehman Brothers and then Nomura as global co-head of its FIG business, according to sources familiar with the hire.
Read the rest of this entry » -
Financial services recruitment activity dips by 12 per cent.
June 14th, 2010The financial services sector’s hiring activity has fallen by 12 per cent begging more questions about the health of the City.
Read the rest of this entry »
The figure comes from city pre-employment screening firm, Powerchex, despite recording seven consecutive months of rises.
The decrease was recorded across the whole of financial services, with investment banks, hedge funds, investment managers and [...]