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Fred Goodwin: laughing all the way to the golf course

In Article Library by Ian Fraser

By Ian Fraser Published: Daily Record Date: 7 June 2017 It has been one of the longest, most tortuous and expensive legal processes in British history, taking nine years and costing in excess of £190 million in legal fees. The outcome – an out-of-court settlement between investors and the bank …

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London looks set to take the hit from hard Brexit

In Article Library by Ian Fraser

By Ian Fraser Published: The Times Date: 30 May 2017 Hard Brexit would cost the financial services sector and UK economy dear as firms lay plans to relocate thousands of jobs elsewhere in Europe Lloyd Blankfein, chief executive of Goldman Sachs, warns that the City of London “will stall” and see …

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Benjamin Lawsky, we’re banking on you

In Blog by Ian Fraser0 Comments

August 11th, 2012 According to a Reuters report earlier, Standard Chartered is this weekend in talks with US regulators with a view to reaching a carefully choreographed settlement along similar lines to the “sweetheart” deal that Barclays reached with the US department of justice for similar Iran-related criminality in August 2010. …

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Senate tells HSBC: Shape up or get out of the United States

In Blog by Ian Fraser0 Comments

July 18th, 2012 Senator Carl Levin has given an ultimatum to HSBC, after a lax approach to money-laundering for drugs cartels and terrorist groups saw the banking giant fail to review thousands of suspicious transactions or properly to vet clients over the past decade. Levin, famous for berating Goldman Sachs’ …

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Loss of trust

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Signet Magazine Date: July 16th, 2012 (minor edits March 28th, 2013) Scottish banking was once renowned for prudential management. Today the association is rather different. Financial journalist Ian Fraser gives his view of events behind the collapse of RBS and HBOS and calls for a Leveson-style …