CYBG has reported strong progress in its first six months since its acquisition of Virgin Money last October, with pro forma underlying pre-tax profits up to £286 million. Following the acquisition, CYBG is the UK's sixth largest bank with over six million customers, serving both retail and SM
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Standard Life Aberdeen is facing a shareholder rebellion over plans to offer its incoming chief financial officer £750,000 in shares, according to reports. A remuneration report was opposed by 42.02 per cent of shareholders out of concerns about the remuneration package put together to attract
The Scottish Investment Trust, also known simply as The Scottish, has announced the launch of a new online learning hub designed to reach out to a wider audience. The launch of the learning hub has been marked with a three-part series of videos, "Money... what's it all about?", presented by Young Mo
Blair Nimmo and Alistair McAlinden of KPMG LLP have been appointed joint administrators of Hutchinson Networks. Established in 2011, the Edinburgh-based business delivers IT network solutions to blue-chip and SME customers across the globe.
The proposed Scottish National Investment Bank (SNIB) should not try to compete with the private sector on salaries, but instead attract talent by being "mission-orientated", a leading economist has said. Professor Mariana Mazzucato of University College London, an economic advisor to the Scottish G
The Financial Services Ombudsman (FSO) recorded a five-year high in complaints last year, with more than 388,000 people bringing complaints, up 14 per cent on the year before. The rise was driven by an 89 per cent rise in complaints about consumer credit products and services, including payday lende
Some taxpayers in Wales have been paying the wrong rate of tax after having the Scottish tax code mistakenly applied to them, HMRC has admitted. The Welsh Rates of Income Tax (WRIT) was introduced in April 2019, three years after the introduction of the Scottish Rate of Income Tax (SRIT) in 2016.
Nationwide Building Society has been awarded £50 million from Banking Competition Remedies to increase competition in small business banking. The Co-operative Bank and Investec Bank have also been awarded £15 million each to expand in the small business market.
Brokers have been urged by insurance governance experts Mactavish to challenge insurers more over the quality of their cyber policies. At the opening of the British Insurance Brokers' Association conference in Manchester, Mactavish said its research had identified eight common flaws in cyber insuran
A taxpayer was left baffled by a letter from HMRC demanding a sum of £0.01 for the 2017/18 tax year.
Accountants and business advisors French Duncan LLP has announced plans to expand its hotels accounting team after taking on additional office space in Glasgow. The firm recently took on a third floor at its Finnieston offices, bringing its total office space to 20,000 square foot and facilitating a
Edinburgh-based venture capital firm Par Equity has led investments totalling £3.2 million in two Northern Ireland software companies, Plotbox and Datactics. The technology firms are the latest to benefit from investment led by Par Equity, which has invested more than £118 million in ove
Commercial real estate specialist Topland Group has acquired The Rutland Buildings in Edinburgh in an off-market transaction for nearly £16 million.
Glasgow-based investment house Maven Capital Partners has led an investment, alongside existing shareholders Par Equity and the Scottish Investment Bank, in Edinburgh-based Symphonic Software Limited, the identity and access management firm. The funding will be used to further scale the busines
Aberdeen Standard Investments (ASI) has launched three equity and five fixed income index tracker funds on Standard Life’s Wrap and Elevate platforms. Investing in passive funds has grown in popularity as a low-cost, diverse and reliable means of mirroring the performance of a specific index.