View more on these topics

NAB to close 20 per cent of its branch network

National Australia Bank is controversially closing over 20 per cent of its UK branch network, with victims being announced tomorrow.

The owner of the Clydesdale and Yorkshire banks will announce the closures tomorrow, which will see over 50 communities losing their only banking outlet.

This is the biggest branch cull of its kind since Barclays axed 10 per cent of its sites in 2000 losing up to 100 of its 449 branches.

The closures are expected to have the biggest impact on communities in Scotland and the North East.

NAB managing director and chief executive John Stewart will make the announcement on branches when it announces its half-year results, claiming the branches to be non-profitable.


‘Leave IT to the experts’

Technology has become too complex for IFAs and they should leave it to specialist firms, Positive Solutions marketing manager Daniel Harrison told delegates at Money Marketing Live.

Short in the act

Baring Asset Management London marketing director Ian Pascal on how Ucits III has opened the door for investors to short the market

JO Hambro closes Japan Fund

JO Hambro has closed its Japan fund, managed by Scott McGlashan, at the pre-agreed level of 200m. Investment has been capped to preserve McGlashans ability to run the money without inhibiting performance. The fund has reached its target assets in less than twelve months, following strong support. JO Hambro chief executive Nichola Pease says: “We […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment