For this ISA season, Barclays is expanding its range of funds to 22, all of which come with a 0% initial charge and no set up costs. Increased from 14 last year, the funds are available by phone for existing customers or through Barclays’ online platform. There are five ready-made portfolios (Foundation funds), which are [...]
Barclays has launched LeitzinsPlus, which claims to be Germany’s first online instant-access savings account linked to the European Central Bank (ECB) rate. Interest is payable at the ECB base rate (currently 1%), plus a fixed, guaranteed margin, currently set at three years. The new offering will be managed by Barclaycard in Hamburg and is accompanied [...]
Basel III rules on capital requirements risk jeopardising the provision of trade finance, with the greatest impact on Europe’s small and medium sized enterprises, Barclays claims. The lender’s global head of trade and working capital, Kah Chye Tan, is therefore urging regulators not to damage the ability of banks to allow SMEs to trade globally. [...]
Barclays has appointed Frank Hofmann as head of cash management, Germany, within its corporate banking team. Mr Hofmann will be responsible for delivering cash management services to multi-national and large local German corporates, while also delivering local solutions for internationally active corporates in Germany. He joins from SEB in Frankfurt, having spent six years in [...]
Barclays has appointed Kersi Patel as head of trade and working capital, Middle East. Mr Kersi joins from HSBC Bank, Middle East, where he headed up the trade and supply chain business for Middle East & North Africa. Previously, he has held several senior roles across trade and transactional banking in HSBC, Deutsche Bank and [...]
Barclaycard has launched two new payment terminals to its Global Payment Acceptance product range, one using Internet Protocol (IP) and the other using GPRS technology. The new IP offering will help speed up transactions at retail stores across the UK, reducing the average time taken to process a payment to 15 seconds. More than one [...]
Barclays Corporate has appointed Kevin Murphy as director, finance and brokers, within its non-bank financial institutions team, based in New York. Mr Murphy joins from JP Morgan Chase where he was an executive director with a focus on broker dealers, futures exchanges, commission merchants and clearing houses. He is regarded as an experienced banker with [...]
Barclays has appointed Rumi Contractor as chief operating officer, UK retail and business banking. Mr Contractor will take up the post on 1st March, joining from HSBC where he has been global head of service delivery and chief executive officer, global resourcing, since 2008. In his new role, he will drive customer service innovation and [...]
Fitch has downgraded the “issuer debt ratings” for Barclays, Bank of America, Goldman Sachs, BNP Paribas, Deutsche Bank and Credit Suisse, the BBC reports. The credit rating agency has also stated that it views the eight most prominent and systemically important banks, including the recent addition of Morgan Stanley and Goldman Sachs, as the sole [...]
Barclaycard has announced that all its newly issued corporate cards will be enabled to make contactless transactions. Claiming a UK first, the card provider says the move should make it easier for businesses of all sizes to track smaller transactions that are currently made using cash. Contactless technology allows cardholders to pay for goods of [...]
Britain’s biggest banks are improving the ways in which they operate personal current accounts, with the aim of helping millions of people keep on top of their finances. According to the British Bankers’ Association (BBA), all full service current account holders will in future receive: 1. Text alerts when account balances gets close to their [...]
Barclaycard is launching its biggest-ever outdoor marketing campaign which will also occupy space in the press and online. The campaign is accompanied by a new tagline, “Barclaycard Easier”, which apparently forms part of a wider strategy to build “relevance and consideration” among consumers. PR and social media elements are involved with “amazing experiences” for consumers [...]
Barclays has joined forces with Channel 4 Education to invite young people to decide how to spend £100,000 on projects that support communities. “The Stake” aims to inspire young people to use their business and enterprise skills to win prize money that will make a difference. Anyone aged 16 to 21 can submit their ideas, [...]
Equistone Partners Europe has agreed to acquire Barclays Private Equity (BPE) from Barclays Capital, in a management buyout deal. The move will result in Equistone taking over the management of BPE Funds I, II and III, in which Barclays itself will remain invested, alongside a range of global institutional investors. Equistone says it will build [...]
Barclays has signed up Aviva and Legal & General to provide life and general insurance products for its UK retail customers. Aviva’s existing general insurance offering with the bank will be complemented with life assurance and personal accident products, available on a non-advised basis. Customers will be able to choose life assurance, over 50s life [...]
Barclays Corporate has made two appointments to its trade and working capital team. Ray Zabarte joins as global head of trade and working capital product management. He moves from Standard Chartered where he was most recently in charge of receivables and local corporate product management. In his new role, Mr Zabarte will be responsible for [...]
Barclays has sold its Russian retail and commercial operations to investors including Igor Kim, who is recognised as one of Russia’s leading bankers – he already holds stakes in MDM and Orient Express Bank. The group announced its intention to offload Barclays Bank LLC in February but Barclays Capital will continue to operate in Russia [...]
Barclays has appointed Ian Ackerley as investments director, UK retail business banking, responsible for leading the development of integrated investment services. Mr Ackerley joins from Virigin Money where he was managing director of investments and pensions. Earlier this year, Barclays launched an enhanced online platform aimed at giving investors access to simple, jargon-free information and [...]
The European Commission has confirm that its officials have undertaken a number of “unannounced” inspections at companies active in the market for financial derivative products linked to the Euro Interbank Offered Rate (EURIBOR). EURIBOR is one of the benchmarks for interest rates on loans between banks, and the Commission says it is responding to concerns [...]
Barclays Capital has become a member of the London Stock Exchange’s (LSE’s) Order Book for Retail Bonds (ORB). The electronic trading platform, launched only last year, should allow the firm to build on its presence as an arranger and distributor of retail bonds in the UK market. The firm also believes its membership of ORB [...]
Blackstone 2011 annual profits flat with 2010
Blackstone has reported its financial results for the quarter and year ended 31 December 2011. The firm stated that it made an annual net income of $1.4bn, flat compared to that of the previous year. Quarterly net income was $450m, down from the $513m it made during the corresponding period last year. The firm also [...]
ICICI Bank reports rising 9M profits
Indian banking giant ICICI Bank has reported its financial results for the quarter and nine months ended 31 December 2011. In the 9M period the bank reported a 29% year-on-year increase in consolidated profit after tax of US$1.1bn, up from US$852m. Stand-alone profit after tax during the 9M period rose by 23% from US$696m to [...]
Bradesco reports rising annual net income
Brazilian bank Bradesco has reported its financial results for the fourth quarter and full-year 2011, including annual adjusted net income of R$11.2bn. This is a 14.2% rise on the R$9.8bn the firm made in the previous year. It continues the rise in net income that was evident earlier in the year, but at a lower [...]
Jefferies acquires RBS corporate broking arm
US investment bank, Jefferies, has agreed to acquire Hoare Govett, the stockbroking business of Royal Bank of Scotland. With its one hundred year history, Hoare Govett is regarded as one of the UK’s most prominent corporate brokers and the acquisition includes the firm’s entire senior broking team. In all, around 50 members of staff will [...]
Lloyds commits to branch network
Lloyds Banking Group has committed to keeping the same number of branches in its network for the next three years. The part state-owned bank has also pledge not to close a branch if it is the last one in a particular community. Commenting on the announcements, group chief executive, António Horta-Osório, says: “We want to [...]
