Survey: RBS worst bank in the world |
|
|
| Finance | |
| Written by Gary Howes and Sharecast | |
| Thursday, 25 June 2009 | |
|
A brief look at the morning business news for the SME manager owner. The new chief executive of RBS (LON:RBS) Stephen Hester will have to earn every penny of his controversial £9.6m pay packet in turning the bank around, after a respected industry magazine revealed it was the worst performing bank in the world last year. RBS, which is 70 per cent owned by the British Government, suffered losses of $59.3bn in 2008, the largest of any global bank according to the annual survey of 1,000 financial institutions to be published next month by The Banker, according to the Independent.The world's most profitable bank last year was the Industrial and Commercial Bank of China, which made $21.3bn, followed by China Construction Bank. Spain's Santander was the highest-placed European bank, coming in third with profits of £15bn. Chinese MillionairesThere are now more millionaires in China than in Britain, according to the latest authoritative survey of the super-rich. The Capgemini/Merrill Lynch World Wealth Report reveals that by the end of last year there were 362,000 "high net worth" people in the UK, down from 491,000 in 2007 and 2,000 fewer than the researchers say live in China, reports the Independent. Marks & SpencerSir Stuart Rose was facing rising shareholder anger on Wednesday night after Pirc, the influential corporate governance body, called on investors to force him to split his role as chief executive and chairman of Marks & Spencer (LON:MKS), writes the Times. CIA after Wall StreetersThe US Central Intelligence Agency is on the hunt for disaffected Wall Streeters looking for a career change. Out-of-work investment bankers, analysts and traders are being asked by the American equivalent of Britain’s MI6 to consider a career in espionage over one in finance, writes the Telegraph. A flat footed treasuryThe committee of MPs scrutinising the Government's response to the Northern Rock crisis have accused the Treasury of being caught "flat-footed" by the bank's near collapse. Edward Leigh, the chairman of the Public Accounts Committee, said: "The Treasury's lack of preparedness for dealing with the failure of a major bank was evident as early as 2004 but nothing much was done to remedy this weakness,” according to the Independent.
Comments (0)
 Post a comment
|
|
digg 
del.ico.us 
Newsvine 
Reddit 
Furl 
technorati 
Subscribe to this comment's feed
