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14th of September 2010
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News Tag: chief executive

September 7, 2010

Changes at the top for Barclays and HSBC

by Gill Montia
Changes at the top for Barclays and HSBC
Two of the UK's leading banks have today announced changes in leadership. Barclays' chief executive, John Varley, will be departing next year and will be replaced by Bob Diamond, currently president of Barclays PLC and chief executive officer of the group’s Corporate and Investment Banking and Wealth Management units. In addition HSBC chairman, Stephen Green, is moving on to take up ...



June 10, 2010

BA boss turns down bonus

by Kay Murchie
”BA
British Airways (BA) chief executive, Willie Walsh, has rejected a bonus worth £334,000. The news comes just one day after the final series of cabin crew strikes ended. This is the second consecutive year that Mr Walsh has turned down a bonus, and in its annual report, the company said no-one would receive a cash bonus for the second successive year. Mr Walsh said ...



January 20, 2010

HSBC chief warns of super tax

by Kay Murchie
”HSBC
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 ...



December 3, 2009

Bank of America to repay bailout

by Kay Murchie
Bank of America to repay bailout
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 ...



November 19, 2009

Morrisons sales up as customer numbers grow

by Kay Murchie
”Morrisons
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 ...



November 9, 2009

FSA chief issues jail warning to financial firms

by Kay Murchie
”FSA
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 ...



September 13, 2009

RBS boss fears ‘lost decade’

by Kay Murchie
”RBS
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 ...



December 15, 2008

Barclays chief sees 30% off UK house prices

by Gill Montia
Barclays chief sees 30% off UK house prices
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 ...



September 9, 2008

Nationwide chief predicts 25% fall in house prices

by Gill Montia
Nationwide chief predicts 25% fall in house prices
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 ...



July 23, 2008

Former Barclays chairman joins Northern Rock

by Kay Murchie
”Former
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 ...




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