Trust between Britain’s financial regulator and Barclays broke down this year because of concerns over the bank’s corporate culture, it emerged on Wednesday.
Edi Truell, the private equity entrepreneur who founded Pension Corporation plans to stand down after securing an investment that values his buyout business at more than 1 billion pounds ($1.56 billion).
The Barclays board was warned less than six months ago that the relationship between the bank’s senior management and the Financial Services Authority had “broken down”.
Royal Bank of Scotland has admitted some Ulster Bank customers will continue to face problems with their bank accounts almost a month after computer glitches sparked a crisis at the lender.
Rodrigo Rato, the former head of the International Monetary Fund, is to face trial for alleged fraud in connection with the spectacular collapse of Spanish lender Bankia.
British finance minister George Osborne accused the opposition party Labour of being at the heart of the row over the manipulation of interest rates during the credit crisis.
Sir John Vickers’ Independent Commission on Banking (ICB) will on Wednesday be accused of a “a dangerous dereliction of duty” by one of the Bank of England Governor’s favourite economists.
$1 = 0.6419 British pounds Reporting by Stephen Mangan