News

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.

Walker Crips Group is continuing to pursue its growth agenda after a successful last quarter of 2013, with assets under management jumping by 33% over the year.

Former Financial Services Authority (FSA) chairman Lord Turner has warned that the UK has failed to rebalance its economy and is simply repeating the errors made in the run-up to the 2007/8 financial crisis.

There is a growing disparity between the risk attitudes advisers believe clients need to take to grow their money and those of clients, according to the results of a recent YouGov poll commissioned by AXA Life Invest.

More than 5,000 financial advisers, brokers and bankers have been sacked or suspended since the beginning of the financial crisis, according to Financial Conduct Authority (FCA) figures.

The Financial Services Compensation Scheme (FSCS) is to pay out £100,000 to around 400 savers after a Kent-based credit union collapsed.

Bradbury Hamilton, a London IFA that bought seven client banks last year and has completed almost 50 deals since inception in 1993, has targeted the Midlands for its next phase of buy-out activity.

Schroders is to merge its Corporate Bond fund into the Cazenove UK Corporate Bond fund as it continues to streamline its range following the takeover of Cazenove Capital.

IFDS has appointed former Bank of England chief information officer Simon Moorhead to oversee the development of the firm's technology infrastructure and operations.