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Italian bank eyes Coutts bid

Italian lender Intesa Sanpaolo is considering making a bid for Royal Bank of Scotland wealth management arm Coutts.

The Financial Times reports Intesa chief executive Carlo Messina has made expansion in the UK a top priority.

It emerged in July that RBS was planning to sell the overseas arm of Coutts, but sources have told the FT Intesa was trying to persuade RBS to sell the whole of Coutts, including its UK business.

Intesa chief executive Carlo Messina told the newspaper: “We had an excess of capital, certified by the European Central Bank, of €13bn at the end of [last] December. Now we have €16bn of excess capital. We are by definition a potential consolidator.”

RBS has told the FT it is “absolutely committed to Coutts in the UK”.



Santander CEO Javier Marín axed in major board reshuffle

Santander has axed group chief executive Javier Marín and replaced him with former chief financial officer José Antonio Álvarez as part of a major leadership reshuffle. José García Cantera, currently global head of the Santander Global Banking and Markets division, will replace Álvarez as CFO. Santander UK head of global wholesale banking Jacques Ripoll will take […]


IFS: Pensioner benefits to rise £12bn in a decade

Pensioner benefits will cost £12bn more in 2019 than they did ten years previous, the director of the Institute for Fiscal Studies claims. Writing in The Times today, IFS director Paul Johnson says funding defined benefit public sector pensions and the slow rise of the state pension age will cause bills to soar. He says: […]

Retirement - thumbnail

A downhill stroll?

The Department for Work and Pensions (DWP) has recently published new research, which once again demonstrates how the prospect of retirement is changing for older workers.


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