News Tag: chief executive
January 20, 2010
In an interview with Sky News, HSBC chief executive Michael Geoghegan has warned of the dangers of the new super tax, introduced by the Government to claw back some of the bailout funds used to rescue the banking industry.
The warning comes just a week after London Mayor, Boris Johnson, warned that high-earning bankers are leaving the capital because of the super ...
HSBC chief warns of super tax
by Kay Murchie
December 3, 2009
Bank of America is to repay the $45 billion (£27 billion) of US Government bailout funds.
The banking giant received the funds at the height of the financial crisis after accepting the Troubled Asset Relief Program (TARP).
The repayment of the loan will see the bank escape curbs on executive pay, which in turn, has hindered its search for a new chief executive.
Outgoing ...
Bank of America to repay bailout
by Kay Murchie
November 19, 2009
Supermarket giant Morrisons has announced that a record number of customers visited its stores in the three months to November.
The UK's fourth-largest supermarket said 10.8 million customers visited its stores during the period and the group said its sales "continued to grow well ahead of the market".
The group announced that like-for-like sales, excluding fuel and VAT, were up ...
Morrisons sales up as customer numbers grow
by Kay Murchie
November 9, 2009
The Financial Services Authority's (FSA) chief executive is calling for ethical behaviour within the financial world.
Hector Sants, chief executive of the City regulator, said he is “unconvinced” that top executives have accepted the need to change and operate in a different manner following the financial crisis that rocked the world.
In a speech to the City, Mr Sants said: “It ...
FSA chief issues jail warning to financial firms
by Kay Murchie
September 13, 2009
Stephen Hester, chief executive of Royal Bank of Scotland (RBS), has warned that Britain faces a "Japanese-style lost decade" if it returns to its old ways of the boom years (where consumers and businesses adopted a spend not save approach).
The bank boss, who was appointed in November 2008 (when the bank had to be saved from collapse), said a slow recovery from ...
RBS boss fears ‘lost decade’
by Kay Murchie
December 15, 2008
The group chief executive of Barclays is predicting that UK house prices will see a peak-to-slump fall of between 25% and 30%, against a backdrop of a shrinking economy.
John Varley has been speaking out in an interview for Sky News, ahead of unemployment figures due to be release by the Government on Wednesday.
He has also criticised mortgage borrowing ...
Barclays chief sees 30% off UK house prices
by Gill Montia
September 9, 2008
The head of Nationwide Building Society, Graham Beale, is predicting that UK house prices could fall by as much as 25% from their peak last autumn.
Speaking to BBC News, the chief executive said that signs of a recovery in the housing market may be delayed until 2010 and that prices will continue to fall throughout the remainder of 2008 ...
Nationwide chief predicts 25% fall in house prices
by Gill Montia
July 23, 2008
Former vice chairman of Barclays, Gary Hoffman, has been named as Northern Rock’s new chief executive.
Newcastle-based Northern Rock will pay Mr Hoffman almost £2 million over two years to manage the crisis-torn bank.
Mr Hoffman's basic salary is £700,000 plus three separate payments of £400,000 in compensation for the loss of his participation in Barclays' long-term incentive plans.
Hoffman, who was ...
Former Barclays chairman joins Northern Rock
by Kay Murchie
