The Royal Bank of Scotland has confirmed that it will cut 9,000 jobs by the end of this year, as a result of its takeover of NatWest.
The bank insists it will not engage in wide-spread bank closures. RBS chief executive Fred Goodwin says that branches of the two banks will remain side-by-side on high streets.
The eventual total job losses will be 18,000 of the workforce of 94,000 in the UK.
Don Cruickshank is to become the next chairman of the London Stock Exchange. He will join the LSE board immediately and will take over from chairman Sir John Kemp-Welch on May 25.Cruickshank has recently been in the spotlight for his investigation and subsequent damning report of the retail banking industry in the UK.He was also […]
Pension provider NPI is the first life office to base external fundmanagers' charges on performance.The company believes one way IFAs can fight back in the post-stakeholdermarket is to offer external fund management links on its pensions. It isalso making the fund links open to all its new and existing customers.NPI says it whittled its choice […]
Fleming Asset Management has introduced an offshore global sciences fundto capita^_lise on changing demographics.It says the sector is changing rapidly as a result of an ageing worldpopulation and the need for an ever inc^_rea^_sing number of drugs tocombat existing and new diseases.The launch, revealed in MM last month, will form part of its flagship fundrange […]
Quality and differentiation are now becoming buzz words in the IFA sector.How can firms of all shapes and sizes create a quality strategy for thefuture which will give them a competitive edge?There are only ever two ways of gaining a sustainable, competitiveadvantage. They are doing it cheaper or doing it better. The problem withdoing it […]
Do macro headlines create white noise which impacts market prices? Portfolio Manager at Harris Associates, David Herro, discusses how market volatility can create opportunities to buy good business at a discount.
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]
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