SFS-2016-1
Click image for
SFS 2016 digital book

Quick links to financial editorial articles below

STATEMENT

SFE Chief - Graeme Jones opens up on financial technology

 

TOP 50 RAINMAKERS

Our annual list of the top movers and shakers in financial services

 

OUTLOOK
Terry Murden

Terry Murden explains how we are still paying for past sins

 

BANKING
Kenny Kemp

Kenny Kemp says Scotland’s banks are now in better shape

 

PENSIONS & INVESTMENTS

Let’s join forces to build a bigger share

 

LEGAL

Scotland’s law firms keen to make global connections

 

PROFESSIONAL ADVISORS

True to the numbers in a changing world

 

TECHNOLOGY
Bill Magee

Bill Magee examines the "it’ll never happen to us" policy

advertise-here

SFS BUSINESS & FINANCIAL NEWS

STANDARD LIFE AND ABERDEEN ASSET MANAGEMENT IN £11bn MERGER

Gilbert and SkeochTwo of Scotland’s world class financial players – Standard Life and Aberdeen Asset Management have unveiled details of an all-share £11bn merger, that will mean the newly formed Scottish investment group; which will incorporate both names will oversee assets of £660bn and announce itself as a formidable global fund management force.  more


MSP's EXAMINE AIRDRIE SAVINGS BANK CLOSURE

Rod AshleyRod Ashley, the Chief Executive of ­Airdrie Savings Bank (pictured) was questioned at Holyrood yesterday as MSPs sought to determine the potential repercussions of the decision taken last month by the bank to close its doors for the final time. Airdrie Savings Bank is the last surviving independent savings bank in the country and the recent announcement will mean the potential loss of around 70 jobs and another blow to Scotland’s financial sector. more


FOR SALE SIGN GOES UP AT CO-OPERATIVE BANK

CO-OP BANKThe Co-operative Bank announced yesterday that it is putting 100% of its shares up for sale. The action comes at the end of a difficult few years in which the bank attempted to reverse its fortunes, after a near collapse in 2013. More recently it has not been able to strengthen its finances because of low interest rates.  more

 


PERTH BASED BROKER WINS UK NATIONAL AWARD

Ally-and-Murray-trophy-450x300A Perth-based finance broker firm run by two local brothers has picked up an industry award at a UK event held in London. The Lending Channel, which is run by Alistair and Murray Ewing, were the only Scottish firm on the short list and won ‘Best Small Broker for Second Charges’ at the Loan Talk Awards held in the capital. more

 


40 BRANCHES AND 200 JOBS TO GO AT CLYDESDALE BANK

Clydesdale BankClydesdale Bank announced on Wednesday, that due to ongoing decline in branch usage it would be closing 40 branches in Scotland. The wider Clydesdale and Yorkshire Banking Group (CYBG) announced 79 branch closures throughout the UK with around 400 job losses. more

 


BAILLIE GIFFORD CUTS CHARGES ON AMERICAN FUND

Baillie Gifford imageLeading Edinburgh based investment firm Baillie Gifford has cut the annual management fee on its £502m American fund. The move which was put into effect on 1 January sees their fee for class B shares of the fund reduced from 0.65 per cent to 0.5 per cent. The reduction comes on the back of an overhaul of the fund by Tom Slater the co-manager of the Scottish Mortgage investment trust but still leaves it a shade more expensive than Scottish Mortgage which charges 0.45 per cent. more

 


UNIVERSITY OF STRATHCLYDE LAUNCHES UK’S FIRST FINTECH COURSE

Strathclyde mbaA new Masters course in Financial Technology (Fintech) is to launch at the University of Strathclyde to support the digital transformation of Scotland’s financial sector. The MSc in Financial Technology will give students the financial, programming and analytical skills needed to help companies accelerate transactions and enhance security; further enhancing Scotland’s position as a leader in financial innovation. more


ELLIOTT ADVISORS MAKE FURTHER INROADS AT ALLIANCE TRUST 

Alliance Trust HQ2Elliott Advisors, the hedge-fund manager which forced boardroom change at Alliance Trust has now moved to increase its stake in the Dundee based investment house from 17% to 19%. Part of New York firm – Elliott Management, they have already influenced board room change at AT after a long running spat with the board in 2015 resulted in the stepping down of Katherine Garrett-Cox as Chief Executive. more


GLOBAL FINANCE GIANT GIVES BACK TO COMMUNITIES

Aberdeen AssetAberdeen Asset Management said it is looking forward to its continued support of good causes in 2017 after donating well over £100,000 to charities and trusts in Aberdeen and Edinburgh and also providing volunteer support during 2016. more


SWISS ROLL OUT NEW FINES TO RBS AND BARCLAYS FOR LIBOR RATE RIGGING SCANDAL

RBS logoBarclays logo 2

As the libor rate rigging scandal continues to rumble on, the Swiss Competition Commission – Comco has now named and fined a number of banks involved in running cartels to influence libor rates over the last decade. Royal Bank of Scotland and Barclays are among seven banks that have been hit with total fines of about 99 million Swiss francs (£78m) for rate rigging after the four-year probe. more


BREWIN DOLPHIN AQUIRES DUNCAN LAWRIE ASSET MANAGEMENT

David Nicol

Brewin Dolphin has announced that it has agreed to acquire the UK private client investment management business of Duncan Lawrie through the acquisition of Duncan Lawrie Asset Management Limited. David Nicol (pictured), Chief Executive of Brewin Dolphin explained that as part of the deal DLAM's investment team of 11 investment managers and 8 investment support staff are expected to join the London and Bristol offices of BD.  more


ABERDEEN ASSET MANAGEMENT STRENGTHENS GLOBAL DISTRIBUTION TEAM 

john-campbell-aam-348x372Aberdeen Asset Management has announced a number of appointments to strengthen its global distribution platform.

John Campbell (pictured) the former Chairman of Scottish Financial Enterprise and a senior figure with State Street Bank will join Aberdeen in January as Global Head of Strategic Clients reporting to Campbell Fleming, Global Head of Distribution. more


SCOTTISH VEHICLE RENTAL FIRM DRIVES INTO ENGLISH MARKET 

tom logo

Scottish Vehicle Rental firm – TOM has announced additional plans for expansion south of the border after completing a management buyout supported by Equistone Partners. more


LONG OVERDUE PROBE INTO KPMG's ROLE IN HBOS COLLAPSE 

hbosA fresh investigation has been ordered into accountancy giant KPMG's handling of HBOS's affairs at the time of the bank's collapse. Industry watchdog the Financial Reporting Council (FRC) is to instigate a disciplinary investigation into how the big four firm failed to spot massive problems which forced the bank to seek a taxpayer rescue and a hurried merger with Lloyds in 2009. more


LORD SMITH TO TAKE OVER AS CHAIRMAN OF ALLIANCE TRUST 

Lord-SmithLord Smith (pictured) has been appointed chairman of Alliance Trust to replace Karin Forseke who announced in November that she was stepping down.

The board has been under pressure to improve performance at the Dundee firm from activist investor Elliott Advisers based in New York. more


CHIEF EXECUTIVE STEPS DOWN AT MENZIES

Jeremy_StaffordJohn Menzies chief executive Jeremy Stafford (pictured) has resigned for what was described as personal reasons after just 15 months in the post.

Forsyth Black, previously managing director of Menzies Distribution, is appointed managing director of Menzies Aviation and will join the main board. more


GREEN LIGHT FOR £60 MILLION ST ANDREWS SQUARE REGENERATION PROJECT 

St-Andrews-SqEdinburgh City Council has given the go ahead to one of the city's key regeneration projects. The £60m restoration of the former Royal Bank of Scotland building in St Andrew Square and redevelopment of neighbouring buildings will complete the revival of the area. more


SWINNEY TO HAND BUSINESS RATES POWERS TO LOCAL AUTHORITIES 

swinnyFinance Secretary John Swinney is expected to hand local authorities the power to raise business rates, mirroring the Chancellor's announcement for England and Wales. He will unveil the switch from central to local government at today's SNP conference in a move likely to receive a mixed message from business. more


08-77_SFS_WebAd