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S&P downgrades Royal Bank of Scotland and 36 other banks

In Blog by Ian Fraser0 Comments

30 November 2011 I had a bizarre sense of déjà vu yesterday on learning of the mass downgrade of 37 of the world’s largest banks, including the Royal Bank of Scotland, by Standard & Poor’s. Something very similar took place in July 2007, when Moody’s downgraded hundreds of CDOs – …

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Does Vickers go far enough?

In Blog by Ian Fraser1 Comment

12 September 2011 This morning I was listening to Nicky Campbell’s phone-in programme on BBC Radio 5 Live. The topic was the final proposals of Sir John Vickers’ Independent Banking Commission for reforming the UK’s banking system, which were published this morning. To many, including Philip Augar (who since leaving the …

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The Osborne Ultimatum: banks must split or else

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: QFINANCE Date: 17 June 2011 The announcement from Chancellor of the Exchequer, George Osborne that British banks are going to be forced to “ring fence” their retail and commercial banking (“utility”) activities from their investment banking (“casino”) activities has received wildly different receptions on either side …

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Project Merlin doesn’t do what it says on tin

In Blog by Ian Fraser4 Comments

8 February 2011 Project Merlin, the wizard scheme originally dreamt up in 2010 by ex-Barclays chief executive John Varley and RBS chairman Sir Philip Hampton, in the hope of  appeasing the government and drawing a line under the “banker bashing”, has descended into farce. The project started as bankers believed …

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Bailey makes heavy hints on TBTF

In Blog by Ian Fraser0 Comments

14 January 2011 We already know that financial regulation is due for a radical shake-up in the UK, but Andrew Bailey, executive director and chief cashier at the Bank of England, has given the clearest signal yet that the structure of the banking sector will also be overhauled. In a …

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Diamond: The period of remorse and apology is over for banks

In Blog by Ian Fraser1 Comment

12 January 2011 This morning’s “grilling” of Barclays’ new chief executive, Bob Diamond, was an unsatisfactory affair. A light sautée-ing would perhaps be a more accurate description. The MPs on the Treasury Select Committee were good at grand-standing on banking issues such as excessive bonuses, lack of pay transparency, recklessness, tax avoidance, …

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Getting tough on bankers’ bonuses

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: 26 December 2010 Ever since Gordon Brown bailed out Britain’s banks in October 2008, the saga of bonuses has become one of the longest-running and most contentious in British public life. Politicians have been scrabbling for ways to respond to public anger and …

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Perry takes Barclays Wealth role

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date:  7 November 2010 Jack Perry, former chief executive of Scottish Enterprise, has landed a role as a member of the advisory committee of Barclays’ private client division in the UK and Northern Ireland. It is Perry’s third post since leaving the development agency …

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THE WAITING GAME

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: CA Magazine Date: 1 December 2009 Potential sellers are waiting for a recovery, potential buyers are waiting for the bottom of the market and, as Ian Fraser reports, corporate finance professionals are waiting for dealflow to pick up Scotland’s dealmakers have had plenty of time for quiet reflection …