European banking correspondent
Steve's Feed
Dec 23, 2014

Six RBS traders could be punished in FX probe

LONDON (Reuters) – Six Royal Bank of Scotland
employees could face disciplinary action as part of an inquiry
into failings in its foreign exchange trading, the state-backed
British lender said on Tuesday.

RBS launched an internal review into its FX activities after
it was one of six banks fined a combined $4.3 billion last month
for failing to stop traders trying to manipulate currency
markets.

Dec 23, 2014

Bank dealmakers set for bonus cheer, bond traders not so much

LONDON (Reuters) – Investment bankers working on corporate takeovers and share issues can expect good news on bonuses after a buoyant year when they return from the holidays, but bond and currency traders face lower payouts.

Investment banks will finalize bonuses over the next two months and early signs are that average payouts will be relatively flat or slightly higher across most banks, although totals could drop at banks that have cut staff.

Dec 22, 2014

Upstart banks get IT boost to take on big rivals

LONDON (Reuters) – When Metro Bank prepared to launch in 2010 as the first new bank to appear on British high streets for over a century, its founders broke with convention by outsourcing the construction of its computer systems.

Until then, British banks had built their own software from scratch, whereas counterparts in the United States opted for “off-the-shelf” platforms that made it easier and quicker to launch new businesses.

Dec 21, 2014

British upstart banks get IT boost to take on big rivals

LONDON (Reuters) – When Metro Bank prepared to launch in 2010 as the first new bank to appear on British high streets for over a century, its founders broke with convention by outsourcing the construction of its computer systems.

Until then, British banks had built their own software from scratch, whereas counterparts in the United States opted for “off-the-shelf” platforms that made it easier and quicker to launch new businesses.

Dec 16, 2014

Cerberus buys more Europe property assets with RBS, NAB deals

LONDON/SYDNEY (Reuters) – U.S. private equity firm Cerberus snapped up billions of pounds of loans in Ireland and Britain in a pair of deals on Tuesday, reinforcing its position as one of the biggest buyers of European property assets at knock-down prices.

Royal Bank of Scotland (RBS.L: Quote, Profile, Research, Stock Buzz) said it sold a package of 5,000 commercial property loans with a face value of 4.8 billion pounds ($7.5 billion) to Cerberus as part of its plan to shrink its Irish business.

Dec 11, 2014

Investors call for Standard Chartered to plan for life after Sands

LONDON (Reuters) – Standard Chartered (STAN.L: Quote, Profile, Research, Stock Buzz) is being urged to plan for life beyond Peter Sands after a strategy update last month failed to restore confidence in the chief executive among some investors.

After eight years, Sands is one of the longest serving CEOs at a major global bank. But a series of problems in the last two years and a rise in bad debts have raised questions about his ability to steer the bank through a low growth era.

Dec 10, 2014

Ex-Northern Rock customers set for $405 mln payback

LONDON, Dec 10 (Reuters) – More than 40,000 British
borrowers are in line to get thousands of pounds in compensation
after London’s High Court ruled against former bank Northern
Rock in a test case over the wording in past loan documents.

The court judgment said about 258 million pounds ($405
million) could be paid out in compensation by British taxpayers,
as the government now owns the part of the bank that made the
loans.

Dec 10, 2014

Ex-Northern Rock customers set for 258 million pounds payback after court ruling

LONDON (Reuters) – More than 40,000 British borrowers are in line to get thousands of pounds in compensation after London’s High Court ruled against former bank Northern Rock in a test case over the wording in past loan documents.

The court judgement said about 258 million pounds could be paid out in compensation by British taxpayers, as the government now owns the part of the bank that made the loans.

Dec 10, 2014

Ex-Northern Rock customers set for payback after court ruling

LONDON (Reuters) – More than 40,000 British borrowers are in line to get thousands of pounds in compensation after London’s High Court ruled against former bank Northern Rock in a test case over the wording in past loan documents.

The court judgment said about 258 million pounds could be paid out in compensation by British taxpayers, as the government now owns the part of the bank that made the loans.

Dec 10, 2014

Ex-Northern Rock customers set for $405 mln payback after court ruling

LONDON, Dec 10 (Reuters) – More than 40,000 British
borrowers are in line to get thousands of pounds in compensation
after London’s High Court ruled against former bank Northern
Rock in a test case over the wording in past loan documents.

The court judgment said about 258 million pounds ($405
million) could be paid out in compensation by British taxpayers,
as the government now owns the part of the bank that made the
loans.

    • About Steve

      "Responsible for overseeing coverage of the European bank sector and direct coverage of the international UK-based banks, based in London. Have been in current role for three years, and for previous three years was UK banking reporter. Have over 15 years experience as a financial newswire journalist in London and New York."
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