Banking and Finance News
Ashurst and Slaughter and May have advised on the $30bn (£20.8bn) sale of RBS’ private banking and wealth management business Coutts International to Union Bancaire Privée.
OneSavings Bank (OSB) has appointed a new head of legal as it names 12 firms to its first formal legal panel of external advisers.
Barclays’ general counsel for Asia Pacific Simon Croxford is replacing Erica Handling as general counsel for Europe and Middle East (EME) investment.
Allen & Overy (A&O), Linklaters and Herbert Smith Freehills (HSF) were drafted in to advise on the £1.7bn sale of TSB, Britain’s seventh-biggest bank, to Spanish bank Banco Sabadell, which was accepted this morning (20 March 2015).
Allen & Overy’s (A&O) US corporate finance head Jim Wickenden has quit the firm, to be replaced by London-based partner Kevin Muzilla.
The Bank of England (BoE) has hired Competitions and Markets Authority (CMA) director of enforcement Sonya Branch to replace Graham Nicholson, who will retire at the end of April.
Linklaters has advised Barclays on the sale of its entire Pakistan business to Habib Bank Limited (HBL) as the bank seeks to dispose of its non-core assets.
Barclays has appointed a new general counsel in the US after the departure of Carlos Pelayo from the bank.
The Co-operative Bank has hired Nationwide Building Society deputy GC Claire Morris as its new head of legal, replacing James Southworth who has returned to Eversheds.
Banking and Finance Briefings
Funds in Switzerland: getting the deal through download subscription
The Collective Investment Schemes Act underwent a major revision in 2013. The transitional provisions relating to this ended last month.
Bonuses in the spotlight: caps and clawbacks download subscription
It seems the bonus cap has led to employers in the financial services industry paying higher basic salaries and there are likely to be further developments relating to clawback in the near future.
Finance litigation – lending: sue the right party; credit broker liability; and more download subscription
Review of the latest cases and issues affecting the lending industry.
Banking and Finance Analysis
The pressure on in-house lawyers in the financial services sector is growing as banks face up to new challenges such as greater regulatory scrutiny.
In association with Fox Rodney, Saunderson House and Thomson Reuters
Banking and Finance Opinion
The revelation by Tesco that it had overstated its trading profits by £250m wiped £2bn off its market value in one day.