RBS
Although it’s not the start of a new year, September still seems to herald the beginning of a new season, a busy period after the traditional quiet lull of summer. Except the last few months have been anything but quiet in the land of ETFs. Existing providers are gearing up to launch new suites of funds as part of the “product evolution,” while other well-established issuers are expanding their geographical reach.
RBS has announced a further 3,500 job cuts across England and Scotland in the firm’s technical and back office divisions.
Johnny Cameron, the former RBS banker blocked by the FSA from taking up senior positions in the City, has set up his own advisory firm.
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The FSA has launched a probe into sales of an AIG bond fund product by RBS' private banking arm Coutts.
The FTSE 100 opened in positive territory as strong results from majority-nationalised bank RBS crowned off a largely impressive results week for the UK banking sector.
The Royal Bank of Scotland Group reported a small £9m net profit over the first half of the year, after recording a £1.14bn pre-tax profit in the six-month period.
Taxpayers could make billions from the banks they rescued during the financial crisis.
The FSA has fined members of the Royal Bank of Scotland Group (RBSG) £5.6m for failing to have adequate systems and controls in place to prevent breaches of UK financial sanctions.
London's top stocks have given up some of yesterday's triple-digit gains in early trading, with the FTSE 100 down 0.72%.
RBS is set to announce the sale of 318 branches to Spain's Santander as the UK lender offloads the former Williams & Glyn's network.
The Royal Bank of Scotland has launched three exchange-traded notes (ETNs) on Xetra in Germany, tracking the performance of MSCI equity indices.
Chancellor George Osborne has called for a tight rein on pay and bonuses and increased lending from the banks as they prepare to announce a recovery in profits this week.
Barclays, RBS and Lloyds shares have all rocketed today on news the Basel Committee plans to water down its capital and liquidity reform package.
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The “Structured Products” industry has come a long way over the last few years and in my opinion has evolved, and not devolved itself, alongside the more traditional investment markets.
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