The Co-operative Bank's disgraced former chairman, Paul Flowers, apparently won the job because he beat his rivals' psychometric test scores, MPs on the Treasury Committee have been told.
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Monday 25 July 2011
One of the UK's first and best-known internet banks was broken up today in a move threatening up to 600 jobs.
Sunday 17 July 2011
The ability to take a tax-free lump sum at retirement is supposed to be one of the major benefits of having a personal pension.
Wednesday 29 June 2011
Financial services firms have learned nothing about treating customers fairly in the last eight years, according to the man who regulates the industry – Hector Sants, chief executive of the City watchdog, the Financial Services Authority.
Wednesday 01 June 2011
Outlook For those who regard the scale of the rewards paid to its executives as excessive, Tesco's insistence that "every little helps" is not likely to play any better for yesterday's revamp of its remuneration policy. This, after all, is a company that handed even its lowest-paid director more than £1.7m last year.
Friday 20 May 2011
The chairman of Prudential, Harvey McGrath, faced questions about his future yesterday after he suffered a shareholder revolt at the company's annual meeting.
Friday 20 May 2011
Outlook It is almost 12 months since Prudential had to pull the plug on its bid for the Asian insurer AIA, at a cost to the company of more than £300m, but the insurer's chairman finally got his comeuppance yesterday – more than one in five shareholders voted against Harvey McGrath's re-election to the board.
Thursday 19 May 2011
Banks could see bonuses cut, dividends limited or lending levels restricted if their activities are considered too risky, the head of their new regulatory body, the Prudential Regulatory Authority, said today.
Friday 13 May 2011
William Hill was yesterday forced to face down a shareholder revolt after almost a third voted against approving the chief executive's pay rise.
Thursday 12 May 2011
Friday 15 April 2011
Monday 11 April 2011
Britain's chief City regulator fined financial services groups almost £100m in its last year in operation, three times as much as in the previous 12 months.
Friday 01 April 2011
Outlook Here are two numbers for you: £377m and £50,000. The first number is the cost to Prudential, as detailed in its annual report yesterday, of its failed bid for AIA, the Asian insurance company. The second figure, also taken from Pru's report, is the amount of bonus the insurer's chief executive, Tidjane Thiam, missed out on at the end of 2010. Despite presiding over the AIA botch, Mr Thiam collected a bonus of £1.57m, 97 per cent of the £1.62m that was the maximum he could have theoretically earned.
Friday 01 April 2011
Prudential has paid its chief executive, Tidjane Thiam, £4.7m for 2010 even after his botched bid for AIA cost the insurer £377m.
Friday 11 March 2011
Thursday 10 March 2011
Prudential unveiled a surprise 20 per cent jump in its annual dividend and booming profits yesterday as it sought to draw a line under last year's botched bid for rival AIA. The news sent the insurer's shares up almost 5 per cent to a four-year high.
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