Lloyds to claw back bonuses over PPI mis-sales

Barclays appoints US investment representatives

Barclays has hired four investment representatives who will be based at the bank’s New York wealth and investment management division. Mark Leyton is joining as a managing director from Deutsche Bank’s private wealth management division, where he has been creating customised solutions for ultra-high net worth individuals, corporate executives and professional investors. Zach Shillingford, a [...]

Northern Trust appoints Middle East chief

Northern Trust has announced the appointment of Sheldon Woldt to the position of Middle East head. Woldt, who is tasked with fostering growth in the region, will collaborate with the Europe, Middle East and Africa (EMEA) regional management as he seeks to expand the firm’s presence in the Middle East. Woldt will move from Chicago [...]

BayernLB reports declining Q1 profits

The BayernLB Group has reported that in the first quarter of 2012 the firm made a pre-tax profit of €54m. This is around a third the €149m it made during the corresponding period last year, but the first quarter also saw an increase in difficulties relating to the eurozone sovereign debt crisis. The Corporates and [...]

UK households braced for higher inflation

In its latest MoneyMood survey, Legal & General found that nine out of 10 respondent households expect inflation to be higher, or to remain at today’s level (3.5%), over the next 12 months. Only one in 10 households were hopeful that inflation would ease and more than half thought that inflation would be higher than [...]

FSA fines Habib Bank over anti-money laundering failures

The Financial Services Authority (FSA) has fined Habib Bank AG Zurich £525,000 and its former money laundering reporting officer, Syed Itrat Hussain, £17,500 over failures in anti-money laundering systems and controls. Habib is a privately-owned Swiss bank with twelve branches in the UK and approximately 15,500 customers. At the time of the FSA’s investigations, around [...]