Josef Ackermann, the chairman of Switzerland’s top-ranking Zurich Insurance Group and a former head of Deutsche Bank, has stepped down with immediate effect following the suspected suicide of the company’s chief financial officer.
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Sunday 18 April 2010
Sunday 28 March 2010
Andrea Orcel, the £30m-a-year head of investment banking at Bank of America Merrill Lynch, is set to play a reduced role in the running of the business in the wake of the retirement of Matthew Greenburgh, head of the firm's financial institutions group and the man dubbed Sir Fred Goodwin's banker.
Friday 26 March 2010
Matthew Greenburgh, the man dubbed Fred Goodwin’s banker after advising on a string of deals for the former Royal Bank of Scotland chief executive, has today quit Bank of America Merrill Lynch
Saturday 20 March 2010
Q.We corresponded in 2008 regarding excessive bank charges, which you featured under the heading "I was broke but my bank still charged me". Guess what, I'm broke again! I have lost income during the recession, this has led to me being ill and I owe university fees. When you took up my complaint, the legal action on excessive fees had just begun. I was suffering financial hardship at the time of the charges, but this had eased by the time I made my claim, so the bank rejected my claim for a refund. Following the Supreme Court decision finding in favour of the banks, are there grounds for a refund of charges if a person again suffers financial hardship? RH, Hove.
Thursday 11 March 2010
Sunday 07 March 2010
Friday 05 February 2010
Wednesday 02 December 2009
Outlook You have to hand it to Nicolas Sarkozy. While most of Europe has been pussy-footing around last week's appointment of Michel Barnier, a Frenchman, as EU commissioner with jurisdiction over the City of London, France's President did not try to hide his delight. "I want the world to see the victory of the European model," Mr Sarkozy said yesterday. "[It] has nothing to do with the excesses of financial capitalism."
Saturday 28 November 2009
RBS gets another gift from ABN Amro
Royal Bank of Scotland has one more reason to regret its disastrous takeover of ABN Amro, a deal that lead to the departure of the boss, Sir Fred Goodwin. Guess where most of RBS's exposure to Dubai comes from? You got it: its Dutch subsidiary has always been a big player in the Middle East.
Tuesday 17 November 2009
Saturday 07 November 2009
Many people have their own names for bonus-grabbing bankers – mostly unprintable – but Stephen Hester, chief executive of Royal Bank of Scotland (84 per cent owned by the taxpayer) uses a different term. He and his colleagues are now "stewards of public money", he explains. We know that, Stephen – it's the fact that you keep stewarding it into executives' pockets that worries us.
Monday 02 November 2009
Sunday 11 October 2009
Former directors of the Royal Bank of Scotland, including Sir Fred Goodwin, could be sued for up to £9bn after shareholders announced plans to take legal action against the bank.
Sunday 11 October 2009
Saturday 10 October 2009
Angry shareholders from banks nationalised during the financial crisis were meeting today to discuss plans to recoup their "confiscated property".
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