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Barclays raises bosses’ payouts as staff face dole

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By Ian Fraser Published: Daily Record Date: 12 February 2014 Most bank chief executives, when describing the need to rebuild their institutions, restore profitability and regain people’s trust in the wake of the global financial crisis, have a habit of spouting meaningless platitudes. At first the Barclays chief executive Antony Jenkins, installed after the Libor […]

February 12th, 2014 | Posted in Article Library | Read More »

Hester got RBS back on an even keel

Stephen Hester, CEO, RBS

By Ian Fraser Published: Daily Record Date: June 13th, 2013 Stephen Hester’s five years at the helm of Royal Bank of Scotland were nothing if not tumultuous. Under his predecessor, Fred Goodwin, retail banking operations were used as a cash cow to fund overseas expansion, staff were demoralised by a regime of fear, and many […]

June 13th, 2013 | Posted in Article Library | Read More »

Stephen Hester just doesn’t get it

Stephen Hester

By Ian Fraser Published: Daily Record Date: March 1st, 2013 Royal Bank of Scotland boss Stephen Hester was yesterday touring the television studios trying to convince us that he is absolutely determined to make RBS into a “really good bank” once again. The fox-hunting laird of Gogarburn also told us that RBS staff will share […]

March 1st, 2013 | Posted in Article Library | Read More »

Stephen Hester: The great escape artist

RBS Libor rigging

By Ian Fraser Published: Sunday Herald Date: February 10th, 2013 It has been described as the biggest banking felony in history … yet no-one has been prosecuted for the Libor fixing scandal. Ian Fraser looks at the RBS sacrificial lambs.  [An edited version of this article was published on pages 34-35 the Sunday Herald on […]

February 10th, 2013 | Posted in Article Library | Read More »

Guest post: The parable of the bailouts

Balloon Horse

October 18th, 2012 By Tom Nicol ‘Then the flying machines started falling from the sky.’ Once upon a time in the Westerlands, people became aware of a developing phenomenon: flying machines were falling from the sky with a great deal more regularity than was previously the case. Understandably, the people became uneasy and started to […]

October 18th, 2012 | Posted in Blog | Read More »

Robert Jenkins: Puncturing bankers’ myths

Too Big To Fail - JP Morgan Chase's Jamie Dimon

September 26th, 2012 [Ian Fraser's introduction] In this speech, Robert Jenkins blows apart the self-serving myths that bankers and their lobbyists have been peddling since the financial crisis ripped apart the global financial system in 2007-. He also explains that, unfortunately ‘captured’ regulators and politicians have swallowed the myths whole. The unsurprising consequence is that post-crisis […]

September 27th, 2012 | Posted in Blog | Read More »

UBS ‘rogue’ trader Adoboli behind London’s biggest fraud, claims QC

Kweku Adoboli arrives at SCC

September 14th, 2012 Kweku Adoboli, a former UBS’s trader, was a  ’rogue’ who fraudulently gambled away the bank’s money, “cooked the books”, doctored documents, faked profits, fabricated clients and lied to his bosses to boost his earnings power, according to an opening statement from prosecutor Sasha Wass QC in Southwark Crown Court today. Wass, of 6 […]

September 14th, 2012 | Posted in Blog | Read More »

Martin Wheatley: Elements of UK banking culture “rotten to the core”

Martin Wheatley, FSA FCA

September 7th, 2012 The managing director of the Financial Services Authority, Martin Wheatley, has launched a stinging attack on ‘mis-selling’ of financial products by banks, building societies and other financial institutions to their retail customers, even describing the incentive schemes that underpinned the ‘misselling’ of payment protection insurance (PPI) as “rotten to the core”. In […]

September 6th, 2012 | Posted in Blog | Read More »

CBI and Barclays still ensnared by the delusion of performance-related pay

Barclays protest

By Ian Fraser Published: QFINANCE Date: April 27th, 2012 The debate over executive pay is turning ugly. In the UK, investor disquiet about the unwarranted rewards routinely doled out to bankers despite weak and unethically achieved performance is reaching boiling point. It could well explode at the Barclays AGM in London’s Royal Festival Hall which […]

April 27th, 2012 | Posted in Article Library,Blog | Read More »

Reform at what cost?

Barack Obama, Gordon Brown, Nicolas Sarkozy

By Ian Fraser Published: CA Magazine Date: April 2nd, 2012 New regulations for banks aim to prevent a repeat of the 2008 meltdown, but are they in fact hampering their ability to do business and aid economic recovery, asks Ian Fraser During the two decades leading up to the banking crisis, the banks had never […]

April 2nd, 2012 | Posted in Article Library | Read More »

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