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Tag Archive: risk

  • Banks to be exposed on £1m plus pay deals

    The Walker Review is recommending that banks should be forced to make public the number of their employees paid over £1 million per year, although no individuals will be named. The review, commissioned by the Government to improve the corporate … Read more »

  • RBS gains expertise in risk and remuneration

    Royal Bank of Scotland (RBS) has announced the appointment of two non-executive directors. Philip Scott and Penny Hughes will take up their duties with the 70% state-owned bank on 1st November 2009 and 1st January 2010, respectively. Mr Scott is … Read more »

  • Building societies oppose new regulation

    The Building societies Association (BSA) has aired concerns about proposed new regulation, claiming that it could leave the UK’s mutuals less able to compete with banks. New measures drawn up by the Financial Services Authority (FSA) could impose limits on … Read more »

  • Chancellor blames banks’ boards for credit crisis

    Chancellor of the Exchequer Alistair Darling has set out his position on regulation and made it clear that he blames bank bosses ahead of regulators for the credit crisis. Speaking to the BBC prior to delivering his annual Mansion House … Read more »

  • Average credit card purchase rate tops 18%

    Latest figures from Moneyfacts.co.uk show that credit card purchase rates are continuing to rise. The financial website estimates the average rate at 18.1% today, up from 16.3% two years ago. The increase reflects hikes in rates for existing customers, the … Read more »

  • RBS directors up for scrutiny over rights issue

    The Financial Services Authority is reported to have appointed PricewaterhouseCoopers to examine the role of former Royal Bank of Scotland (RBS) board directors in relation to the bank’s record breaking rights issue last year. According to the Sunday Telegraph, the … Read more »

  • Pensions Regulator warns of increased fraud risk

    The Pensions Regulator is alerting pension scheme trustees, employers and advisers to the increased risk of fraud during the recession. The body, which regulates UK occupational pension schemes, has stated that the economic downturn “may accentuate the vulnerability of some … Read more »

  • Dunfermline Building Society at risk

    Press reports suggest that the future of Dunfermline Building Society is at risk because of problems with its commercial loan book. Speaking to BBC Scotland’s Politics Show, Dunfermline and West Fife MP, Willie Rennie, has confirmed that he has “great … Read more »

  • Risk analyst urges sea-change in profit culture

    Palisade Corporation is adding to the debate on the banking crisis by urging the financial sector to “evolve to embrace risk”. The company, which specialises in risk and decision making analysis software, believes that over the past two years warnings … Read more »

  • FSA statement on HBOS risk assessment

    The Financial Services Authority (FSA) has issued a statement on issues of risk at HBOS. Yesterday, the vice-chairman of the FSA, Sir James Crosby, resigned because of allegations that in 2005, during his time as chief executive of the group, … Read more »

  • FSA vice-chairman resigns on HBOS risk allegations

    The vice-chairman of the Financial Services Authority (FSA), Sir James Crosby, has resigned. The former HBOS chief executive was yesterday accused of having dismissed a senior employee of the bank, who had warned that the business was growing too fast. … Read more »

  • Ex-RBS and HBOS bank heads apologise to MPs

    The former heads of Royal Bank of Scotland (RBS) and HBOS have today appeared before the Treasury Select Committee, which is investigating the causes of the UK banking crisis. One time RBS chief executive, Sir Fred Goodwin, assured MPs that … Read more »

  • Nationwide demands review of FSCS levy

    Nationwide Building Society is not content with the current arrangements for funding the Financial Services Compensation Scheme (FSCS), which is paid for by a levy on UK financial institutions. New legislation introduced as a result of the collapse of Northern … Read more »

  • FSA speaks out on remuneration and risk

    The Financial Services Authority (FSA) has issued a statement setting out its position on remuneration in the banking sector. The authority says it is responding to widespread concern that inappropriate remuneration schemes, particularly but not exclusively in the areas of … Read more »

  • Wachovia appoint chief risk officer

    Kenneth J. Phelan has been named by Wachovia as the firm’s new chief risk officer. Phelan, who is to join the firm in early October, brings with him decades of financial services experience and recently served with JP Morgan Chase … Read more »

  • WestLB AG appoints Managing Board pair

    German bank WestLB AG’s Supervisory Board has announced that there are to be two new members of the Managing Board. Thomas Groß is appointed as chief risk officer and will be joined by Klemens Breuer who will have responsibility for … Read more »