Rogue trader Jerome Kerviel on trial over £4 billion loss
June 6, 2010 by admin · Leave a Comment
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At Paris’s Palais de Justice, he will face charges of breach of trust,
computer abuse and forgery. If found guilty he could be jailed for up to
five years and fined €375,000.
Yet the 33-year-old is not the only one on trial. In France, Mr Kerviel’s
spectacular rise and public fall epitomises what is seen as wrong with the
freewheeling banking sector, which French public opinion has long held as an
Anglo-Saxon imposition.
Weekend checklist: A summary of City stories in the Sunday papers
January 3, 2010 by admin · Leave a Comment
Published: 6:23PM GMT 03 Jan 2010
The Sunday Telegraph
• The Financial Services Authority did nothing to prevent Icelandic bank
Kaupthing from setting up British retail operations eight months before it
failed because it thought taking personal deposits would be a positive move
to boost the bank‘s faltering liquidity.
• Virgin Money has hired advisers to help acquire a UK bank as early as this
month. A source close to the situation said the company has hired specialist
adviser Quayle Munro, which is headed by Peter Norris, the former Barings
boss and current chairman of Virgin Money.
Virgin Money hires adviser for bank acquisition
January 3, 2010 by admin · Leave a Comment
By Lawrie Holmes and Ben Harrington
Published: 9:57PM GMT 02 Jan 2010
A source close to the situation said the company has hired specialist advisor
Quayle Munro, which is headed by Peter Norris – a former Barings boss and
current chairman of Virgin Money.
Aldermore Bank, formerly called Ruffler Bank, owned by private equity firm
AnaCap, is thought to head a list of targets being looked at by Quayle
Munro.
ING bank accepts €10bn Dutch cash injection
October 28, 2008 by admin · Leave a Comment
ING, the Dutch savings bank which has more than a million savers in the UK, is to get a €10bn capital injection from the Netherlands authorities, the latest bank to be affected by the global credit crisis.
ING is the Netherlands’ largest listed bank, with 85m customers worldwide, and is one of the world’s top 20 financial institutions. It operates under its own name in this country, and recently took control of 180,000 accounts from failed Icelandic banks Kaupthing Singer & Friedlander and Heritable Bank.
