Coutts has announced the appointment of Jennifer Mathias as the firm’s new chief financial officer, with immediate effect. Mathias was previously finance director of the Corporate Banking Division at Lloyds Banking Group and, in her new role, will report directly to Fiona Davis and Rory Tapner (finance director for Retail and Wealth within the Royal [...]
Lloyds Banking Group has issued an update on project Verde and its proposed sale of branches to The Co-operative Group. Five key operational sites, which will provide telephony, banking operations and mortgage centre support to the Verde business, have been named as follows: Gloucester, Livingston, Birmingham, Sunderland and Swansea. Around 1,400 employees across the locations [...]
Coutts is selling its Latin American, Caribbean and African business to RBC Wealth Management. The move follows the RBS-owned private bank’s decision to focus growth on key geographies including the UK, Switzerland, Middle East, Russia/CIS and selected countries in Asia. Rory Tapner, RBS’s chief executive officer, wealth division, comments: “Our Latin American, Caribbean and African [...]
Coutts has announced the appointment of Timothy Chia to the post of chairman of its Asia business. Chia, who assumes his new position with immediate effect, is to be based in Singapore and will collaborate closely with senior management regarding the business’ strategic development. Presently he serves as chairman of Hup Soon Global Corporation Limited, [...]
The Supervisory Board of Deutsche Postbank AG has announced the appointment of Frank Strauss to the position of chairman of the Management Board, with effect from 1 July. He will succeed Stefan Jütte, who is to leave the Board as of 30 June. Supervisory Board Chairman Rainer Neske thanked Jütte for his successful time in [...]
UK banks require major changes in business models and staff remuneration levels to meet increased capital requirements. According to KPMG’s UK Banks: Performance Benchmarking Report, questions remain over future profitability in the sector, and job losses and further restructuring will be key themes of 2012 The report highlights how profitability at the UK’s largest banks [...]
Hector Sants, the chief executive of the Financial Services Authority (FSA), has announced that he intends to leave the organisation at the end of June this year. Sants has been the FSA’s CEO for the last five years and led the overhaul of the organisation’s approach to regulation following the financial crisis. He has also [...]
Following an outburst from Greg Smith, who has quit his post as head of Goldman Sachs’ equity derivatives operations in Europe, the Middle East and Africa, the bank has responded saying: “Everyone is entitled to his or her opinion.” In a New York Times article published yesterday, Mr Smith claims the environment at Goldman Sachs [...]
Trade union, Unite, has described as “brutal” today’s news that taxpayer supported banks are shedding 1,764 jobs across the UK. Lloyds Banking Group and Royal Bank of Scotland are cutting 1,300 and 464 jobs respectively. RBS’s cull is confined to its Private Banking Direct unit and will result in the closure of sites in Bristol [...]
A new report from the Institute of Leadership & Management (ILM) claims that Britain’s banks are unintentionally filtering out top female talent. According to the study, the “glass ceiling” in banking is actually a succession of barriers facing women, and a cultural shift is needed to create a meritocracy in the industry. The research indicates [...]
Deutsche Bank has announced that Jeffrey Bunzel will join the firm’s equity capital markets group as a managing director and head of equity capital markets for the Americas. He will take up the post in September, following an 18-year career at Credit Suisse, where he most recently served as head of equity capital markets for [...]
SunTrust Banks, Inc. has announced the appointment of Anil Cheriyan as the firm’s new chief information officer. Cheriyan, who joins the firm from 2 April, will be directly responsible to Chairman and Chief Executive Officer William H. Rogers, Jr. Cheriyan joins the firm from IBM Global Business Services, where he served as a senior partner [...]
The Council of Mortgage Lenders (CML) has appointed Iain Malloch as chairman of CML Scotland, succeeding Jim Dunn of the Scottish Building Society. Mr Malloch, who is head of mortgages for Lloyds TSB Scotland, commented: “Despite challenging conditions in the housing market in Scotland, as in the whole of the UK, we are seeing pleasing [...]
Westpac Chief Executive Officer Gail Kelly has announced a pair of senior appointments, with George Frazis becoming chief executive of St.George Banking Group and Peter Clare appointed Westpac New Zealand Limited CEO. Frazis succeeds Rob Chapman, who has served the firm for more than a decade, initially as managing director of BankSA and then as [...]
The City job market stuttered in February after pent up demand from the end of 2011 bolstered vacancies in January, according to financial services recruitment firm, Astbury Marsden. There were around 3,585 City job vacancies last month, with the figure down about 38% year-on-year, from 5,800 vacancies in February 2011. Astbury Marsden’s chief operating officer, [...]
Joachim Faber and John Lipsky have been appointed directors of HSBC Holdings with effect from 1st March 2012, replacing Gwyn Morgan and Sir Brian Williamson, who will step down in May. Dr Faber and Mr Lipsky will serve as independent non-executive directors and members of the group’s risk committee. Dr Faber was chief executive officer [...]
KBC Group Chief Executive Officer and Executive Committee President Jan Vanhevel has announced his intention to retire from the firm, with effect from the AGM of 3 May. At the time of his retirement he will have spent his entire 40 year career with the firm, including 16 years on the Executive Committee. Vanhevel will [...]
Deutsche Bank has announced that Seth Waugh is to step down from his position as chief executive officer of Deutsche Bank Americas. There is no immediate successor to Waugh, who will remain in post during the search for his replacement. Following the appointment of his successor he will remain with the firm, acting in an [...]
