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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Former home secretary Amber Rudd is set to return to the cabinet as work and pensions secretary, according to reports. The appointment follows the departure of Esther McVey yesterday over her refusal to back the government’s draft Brexit deal. According to reports, Rudd, a remainer, was offered the job after environment secretary Michael Gove spent […]
The FCA has written to all former clients of Avacade Limited, an unregulated pension introducer, to inform them about its legal action against the firm and its directors. In November 2017 the FCA said it would start civil proceedings against Avacade Limited, now in liquidation, and its three directors Craig Lummis, Lee Lummis and Raymond […]
As new disclosure rules bring the full extent of protection commissions into the spotlight, experts are asking if this will see clients ditch their advisers in favour of execution-only services. Under the Insurance Distribution Directive, from 1 October advisers have had to provide clients with information before a product sale about any commission received, which […]
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