Leading insurance group Zurich Financial Services is to collaborate with the Bank of Scotland in a jo...
Zurich intends to gain regulatory approval for the venture before the end of the year and in so doing provide bank accounts, personal loans, mortgages and credit cards to its 4.5m clients via Allied Dunbar and Eagle Star.
Zurich chief executive Sandy Leitch said: "This is an important strategic move for Zurich. It fits with our goal of reaching more customers and increasing our product range through strategic alliances."
Peter Burt, Bank of Scotland chief executive said: "The combined strength of Bank of Scotland and Zurich Financial Services will open up new markets and reinforces Bank of Scotland's position as the UK's leading partnership bank."
What made financial headlines over the weekend?
Pensions neglect to be criminal offence
All-day event on 24 April
Consequences could be more severe than in stress tests
AFH has six segregated mandate funds