Her Majesty The Queen has approved the Chancellor and Prime Minister’s recommendation for the re-appointment of Sir David Lees as Chair of the Court of the Bank of England.
Sir David has indicated he will step down from Court at the end of 2013, once he has overseen the transition of the Bank’s new responsibilities and

A number of major high street banks will create new apprenticeship schemes and offer more places to young people, Skills Minister John Hayes announced today.
The announcements were made during National Apprenticeship Week at a financial services sector roundtable, held at HSBC in Canary Wharf, to look at the creation of new apprenticeship routes into employment.
Banks

The Government is today publishing its response to the report by the Independent Commission on Banking (ICB), which sets out plans to fundamentally reform the structure of banking in the UK. This response agrees with the ICB’s recommendations and outlines how the Government will legislate to create a stable banking sector that supports lending to

The Government has launched a consultation that will help tackle unacceptable bank bonuses by improving pay transparency at large banks, Mark Hoban, Financial Secretary to the Treasury, has announced today. The proposals would extend transparency arrangements at large banks by requiring the eight highest-paid non-board executives to disclose their remuneration arrangements. Improving transparency for senior

A company that mis-sold undeveloped land for investment to the public has been ordered into liquidation in the High Court on grounds of public interest following an investigation by Company Investigations (CI) of The Insolvency Service.
The investigation found that Crestmore International Limited acted as an agent on behalf of Montrose Partners Ltd and The Montrose

The Department for Business, Innovation and Skills (BIS) and HM Treasury have today published their response to the consumer credit elements of the Government’s Review of Consumer Credit and Personal Insolvency.
The response builds on a number of Coalition commitments to increase transparency and help consumers make better financial decisions when borrowing money and deals specifically

The Secretary of State for Business, Innovation and Skills has presented petitions in the High Court to wind up two companies offering internet banking services and securities dealing services, following an investigation carried out by Company Investigations of the Insolvency Service, under section 447 of the Companies Act 1985.
Hollymead plc, formerly known as O3 Fincoop

Yorkshire Building Society has announced that it has entered into an agreement with Egg Banking plc to acquire its mortgage and savings business.
Iain Cornish, Chief Executive of Yorkshire Building Society, said the company is looking forward to welcoming Egg’s mortgage and savings customers to the Yorkshire. Continuing to provide them with the outstanding service, administration

Barclays Bank PLC has agreed to acquire Egg’s UK credit card assets. Under the terms of the transaction, Barclays will purchase Egg’s UK credit card accounts, consisting of approximately 1.15 million credit card accounts with approximately £2.3 billion of gross receivables, stated a press release.
This acquisition reinforces Barclays Global Retail Banking’s strategic ambition to achieve

There has been increasing conjecture in the Spanish press over Santander UK’s plans for a London Listing. The Spanish Bank is speculated to be mulling an initial public offering (IPO) in the London bourse pegged at about £20 billion for its UK business. The move comes as an effort targeted at raising additional cash reserves