News Josef Ackermann spoke of ‘shock’ at the suspected suicide of his colleague

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.

RBS lost more than any other bank

Part-nationalised Royal Bank of Scotland lost more money than any other bank in the world last year, a leading industry journal declared today.

RBS chief Stephen Hester set for £9.6m incentive package

Royal Bank of Scotland is set to reveal a £9.6 million pay package for its chief executive, it was reported today.

Goodwin agrees to scrape by on £342,500 a year

Banker who presided over the collapse of RBS bows to public pressure and accepts 40 per cent reduction in his pension deal

Former RBS boss Sir Fred Goodwin agrees to pension cut

Former Royal Bank of Scotland boss Sir Fred Goodwin bowed to public pressure today and offered to hand back more than £210,000 a year of his controversial pension payout.

Key executive set to quit RBS broker – and take his team

Hoare Govett, the City stockbroker owned by Royal Bank of Scotland, is expected to face fresh turmoil this week when the head of its key smaller companies research unit quits.

Jeremy Warner: Myners wants to force investors to be more engaged

Outlook Lord Myners, the minister for the City, made an appropriate stand-in guest speaker for the Investment Management Association's annual dinner the other night, because the man who was meant to give the speech was none other than John McFall, chairman of the very same Treasury select committee of MPs which has just issued a scathing report on Lord Myners' handling of Sir Fred Goodwin's pension. In it, Lord Myners is accused of naivety and failure to grasp the issue.

Bad debts at RBS 'could soar to £12bn'

Bad debts at part-nationalised Royal Bank of Scotland could soar to almost £12 billion this year, the bank said today.

Hester completes RBS clear-out as last Goodwin lieutenant stands down

Gordon Pell is the latest RBS director to retire with a huge pension

Market Report: Next trades higher on retail recovery hopes

Next led the retail sector higher last night, closing with gains of more than 7 per cent amid hopes of an earlier-than-expected recovery on the UK high street, which has suffered as the recession has gathered pace.

Change for the better: Escape the rat race and work with charities

Much of Rob Owen's CV reads like that of a JP Morgan executive. For 17 years after graduation, his career trajectory was clear, with stints at Nomura International, Schroder Securities, and ABN-Amro propelling him towards a seemingly inevitable place on the board of a global investment bank.

Bruce Anderson: Stop lecturing us Mr Brown – you'll have time enough next year

Frau Merkel, for one, is in no mood to buy an ill-thought-out fiscal package

Sir Fred could face legal action over role at failed bank

RBS board launches investigation into what former chief executive knew about risky sub-prime trading

RBS has raised job cuts total by 400, MPs told

The deputy chief executive of Royal Bank of Scotland told MPs yesterday that the Government-controlled bank was set to cut 2,700 UK jobs, 400 more than RBS had previously announced.

Credit crisis diary: Job cuts on the way – just don't tell the staff

When staff at Euromoney were told they would have to take unpaid holiday this year, they took some comfort from their employer's reassuring promise that the measure would help to limit job cuts. Euromoney, however, seems to be telling the City something different. Analysts at Royal Bank of Scotland report: "Euromoney has stepped up its cost-cutting plans, with a target of taking out 15 to 20 per cent of group headcount this year (ie 350 to 400 jobs)." Lots of Euromoney staff are going to be taking even more unpaid holiday.

Latest Fortis bid may be third time lucky

The plan may finally win Fortis shareholder support
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