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FSCS pays out £5.7m compensation to Strand Capital customers

The Financial Services Compensation Scheme has paid out £5.7m so far to nearly 800 customers of collapsed discretionary fund manager Strand Capital. The payments were made to 796 investors over the past two weeks. The payments related to client cash only. The compensation was paid directly into customers’ self-invested personal pensions. An administrator’s report published in […]

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SJP chair retires from role

St James’s Place chair Sarah Bates will retire from the wealth manager after 14 years with the firm. Bates will be replaced by current senior director Iain Cornish in her capacity as chair, while SJP also looks to appoint a new non-executive director to the board. Bates became chair in 2014 and oversaw the transition […]

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Barclays mulling merger with rival bank, reports suggest

Barclays could be set for a tie up with a competitor bank in the wake of pressure from one of its largest shareholders. The Financial Times reports that names in the frame include Standard Chartered, which two people close to the situation say was a favoured option of Barclays chairman John McFarlane and potentially supported […]

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