Chancellor of the Exchequer George Osborne is set to name Keith Morgan, the interim head of the British Business Bank, as its permanent chief executive officer, a person familiar with the appointment said.
Last year, Marc Kaye suffered a cash shortage. He had tuition to pay at three colleges -- including Harvard and Columbia -- and his insurance business wasn’t generating enough commissions to cover the bills.
Fiona Woolf, the second woman to head the City of London in 800 years, said bankers in her district must keep working to regain the public’s trust and backed the Bank of England’s latest move to support lenders.
Siena, the medieval city renowned for its Palio horse races, is home to the world’s oldest bank. Within its aging walls lies a distinctly 21st-century tale of devastation wrought by local politicians and global financiers.
UK Asset Resolution Ltd., which owns the U.K.’s fully nationalized banks, said it agreed to sell a portfolio of Northern Rock Asset Management Plc’s personal loans for 400 million pounds ($613 million).
Northern Rock Asset Management Plc’s Chief Financial Officer David Jones left the company in the face of a regulatory probe into disclosures about mortgages sold before the bank was nationalized by the U.K. government.
On a cold, clear January morning, Sir Richard Branson finds himself standing in the middle of a pedestrian-friendly street in Newcastle -- a hardscrabble city in northeast England -- becoming something he never thought he would be: a banker.