Barclays

Barclays' profits have fallen in the first quarter with the investment bank suffering almost a 50% drop in profits, according to its quarterly report.

RBS will not pay out bonuses in line with its rival banks, after the UK government said it would not support a payout ratio of two times executive salaries.

Standard Life Investments has taken the unusual step of criticising Barclays during its AGM, attacking the bank over its latest remuneration proposals amid a fiery meeting.

Psigma Investment Management has made a play for Barclays Wealth clients with less than £500,000, after the bank itself scrapped its bespoke service for lower net worth clients.

Banks have paid out a total of £482m in redress to those they have missold interest rate hedging products, figures from the Financial Conduct Authority (FCA) show.

Analysts at Numis have compared charges from the likes of Barclays, Brewin, Coutts and Rathbones to investigate how industry fees stack up against platforms' newly-unveiled clean prices.

Philip Matthews has turned over almost half the holdings in the Schroder UK Alpha Plus fund since taking over the fund from Richard Buxton in October, IFAonline sister title Investment Week can reveal.

Barclays has said it intends to cut up to 12,000 jobs this year, including 7,000 in the UK, as it reveals it has upped its staff bonus pool despite a drop in profits.

Barclays Bank saw adjusted pre-tax profits fall by almost a third during 2013 as restructuring and litigation costs impacted the business, but has increased the bonuses it pays staff.

Direct-to-consumer platform Strawberry Invest has launched today, with an annual platform charge of 0.40% on the first £50,000.