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RBS appoints ex-FSA supervision MD as head of conduct

Jon Pain

Royal Bank of Scotland has appointed former FSA managing director of supervision Jon Pain as head of conduct and regulatory affairs.

Pain will join the bank in August to head up the conduct and regulatory affairs division and will report directly to group chief executive Stephen Hester.

Pain resigned from the regulator in July 2010 and joined accountancy firm KPMG as a partner the following July.

Prior to joining the FSA, he held managing director positions at Lloyds Banking Group, where he worked for more than 30 years.

RBS chief executive Stephen Hester says: “The creation of this position sends a clear message about how we want to do business – serving customers well, completing our return to a safe and conservative risk profile, and generating sustainable returns for shareholders.

“If we achieve these objectives, and do so in the right way, RBS will become a really good bank.”



Henderson to remove yield targets from two McQuaker funds

Henderson plans to remove the yield target on two of the multi-manager funds ran by Bill McQuaker’s team after citing the fact the market has “changed considerably” since their launch The asset manager will remove the targets on the £431.6m Henderson Multi-Manager Income & Growth fund and the £214.2m Henderson Multi-Manager Distribution fund on 22 […]

Tesco launches 1.74% two-year fixed rate mortgage

Tesco Bank has launched its lowest ever two-year fixed rate at 1.74 per cent up to 60 per cent LTV. The direct-only product represents a market leading two-year fixed rate which is matched only by Chelsea’s own 1.74 per cent mortgage, launched in April. Tesco has additionally launched a three-year fixed rate of 2.29 per […]

FTSE sheds 2% as Fed uncertainty persists

The FTSE 100 was down by 1.99 per cent today after investors took profits following the strong bounce seen in the previous session. Wednesday ended with the FTSE 100 down 134.84 points to 6,627.17, while the FTSE All-Share dropped 67.92 points, or 1.91 per cent, to 3,494.74. Yesterday, the FTSE 100 climbed 107.67 points after officials from the European […]

CML ‘positive’ about London’s FTB market despite static year-on-year figures

Advances to first-time buyers in London remained flat year-on-year in the first quarter, although the Council of Mortgage Lenders called the figures “positive” because last year’s figures were boosted by the end of the stamp duty holiday. In the first quarter of this year there were 9,400 loans advanced to first-time buyers in the Greater […]

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Thinking of expanding overseas?

Whether you’re a small company or an established larger employer, expanding overseas into emerging markets can be an extremely attractive prospect for growing your business. However, with this comes a duty-of-care requirement to any staff based overseas.


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There are 2 comments at the moment, we would love to hear your opinion too.

  1. Roman Duzinkewycz 28th May 2013 at 8:42 am

    Jobs for the boys in the club yet again.

  2. RegulatorSaurusRex 28th May 2013 at 1:59 pm

    That is why you won’t see bankers being prosecuted by the regulators.

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