Tag: punishment

Lloyds Banking Group set to axe thousands more jobs

Lloyds Banking Group set to axe thousands more jobs

According to a report in the Sunday Times, banking giant Lloyds is set to axe a further 15,000 jobs, as part of a cost-cutting exercise. The job losses are expected to be revealed at the end of this month by chief executive, Antonio Horta-Osorio, who assumed the role earlier this year after being poached from [...]

June 13, 2011 | 0 Comments More
Lloyds offloads Crest Nicholson stake

Lloyds offloads Crest Nicholson stake

Banking giant Lloyds has confirmed it has disposed of its stake in housebuilder Crest Nicholson to US investment fund Varde. The sale comes shortly after Lloyds offloaded its private equity business to Coller Capital for £332 million, and its Ecuadorian branch assets for $25 million. The price tag of the Crest Nicholson disposal was not [...]

September 9, 2010 | 0 Comments More
RBS ready to sell WorldPay

RBS ready to sell WorldPay

As part of its restructuring plan, the Royal Bank of Scotland (RBS) is preparing to sell its payment processing company, WorldPay, just days after it announced the sale of its Williams & Glyn’s branch network. Private equity firms, Advent International and Bain Capital, have been in talks to buy WorldPay since last month, according to [...]

August 6, 2010 | 0 Comments More
RBS confirms Williams & Glyn’s sale to Santander

RBS confirms Williams & Glyn’s sale to Santander

Royal Bank of Scotland (RBS) has confirmed it will sell the 318 Williams & Glyn’s network of branches to Spanish banking giant, Santander for £1.65 billion. The majority of the branches are in the North West and will be turned into Santander banks, with the process expected to be completed by December 2011. Commenting on [...]

August 4, 2010 | 0 Comments More
Santander to acquire Williams & Glyn’s network from RBS

Santander to acquire Williams & Glyn’s network from RBS

It has been reported that Spanish banking giant, Santander, is set to acquire the 318 Williams & Glyn’s network of branches from the Royal Bank of Scotland (RBS). According to the Financial Times and Times newspapers, RBS, which is 83% owned by the Government, is expected to confirm the deal later today. However, the deal [...]

August 3, 2010 | 0 Comments More
Lloyds agrees private equity unit sale

Lloyds agrees private equity unit sale

Lloyds Banking Group, which is 41% owned by the taxpayer, has announced it has agreed to sell its private equity unit to buyout firm Coller Capital in a deal worth £332 million. The deal will see 40 private equity investments transferred to a newly-established partnership - 70% and 30% owned by Coller and Lloyds respectively. [...]

July 5, 2010 | 0 Comments More
RBS prepares for privatisation

RBS prepares for privatisation

Royal Bank of Scotland (RBS) is taking the necessary steps so the Government can start selling its 83% stake in the bank. According to reports, chief executive Stephen Hester was quoted as saying: The sale “won’t be conducted in one go….but I would be disappointed if there would not be the first steps towards privatisation [...]

July 5, 2010 | 0 Comments More
RBS offloads Sempra Commodities in $1.6bn deal

RBS offloads Sempra Commodities in $1.6bn deal

Royal Bank of Scotland (RBS), which is 84% owned by the taxpayer, has announced it has completed the sale of its metals, oil and European energy business, Sempra Commodities, to US investment bank, JP Morgan, in a $1.6 billion (£1.1 billion) deal. Sempra, which is based in San Diego reported 2009 revenues to be in [...]

July 2, 2010 | 0 Comments More
Santander submits offer to buy RBS branches

Santander submits offer to buy RBS branches

Spanish bank giant Santander has today confirmed it has submitted an offer to buy Royal Bank of Scotland’s (RBS) Williams & Glyn’s network of branches. The deal will give Santander approximately 1,645 branches, or 12% of the market, and cement its status as the second largest mortgage loan provider. The Spanish bank already has a [...]

June 18, 2010 | 0 Comments More