View more on these topics

Santander to axe 1900 jobs

Santander has revealed it is to cut 1900 jobs across its Abbey, Alliance & Leicester and Bradford & Bingley Savings arms.

The mega-bank will begin the cuts in 2009, which will be taken from the back office and support staffs, which are duplicated across the brands.

The brands will also be integrated into Santander’s IT proposition, Partenon.

Santander chief executive of the combined UK business Antonio Horta-Osorio says: “Today’s announcement shows we are on track to fulfil the commitment we made at the time of the Alliance & Leicester acquisition to grow our UK business whilst ensuring we meet our cost-saving targets.”

Santander plans to save £180m by the end of 2011 as a result of the cuts.

Recommended

Regulate or compensate?

Misselling scandals have plagued the industry across product areas over the years but the Financial Ombudsman Service now says a surge in single issue complaints may see it act as a surrogate regulator.

Gartmore makes two managers redundant

Gartmore has confirmed that the roles of fund managers Ashley Willing and Karl Bergqwist have been made redundant. The two will be in consultation with the company about potentially being deployed to other roles.

Artemis Global Income: Making sense of global markets

The rally in cyclical ‘value’ stocks paused for breath in February, as investors took a more cautious tone and switched their attention back to defensive areas. In this article, Jacob de Tusch-Lec, manager of the Artemis Global Income Fund, explains how he has positioned the portfolio, given the many economic, geopolitical and policy risks that […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com