CYBG has completed the acquisition of Virgin Money, creating the UK’s sixth-biggest bank. Commenting on completing the Virgin Money acquisition, CYBG Chief Executive David Duffy, said “Today marks an historic milestone for CYBG and Virgin Money, creating the first true national competitor to the status quo in UK banking with a clear ambition to provide customers…

The Competition and Markets Authority (CMA )has decided that the proposed merger between SSE Retail (SSE) and Npower can proceed, following a thorough review. The decision comes after a provisional clearance from the inquiry group of independent Competition and Markets Authority (CMA) panel members, who investigated how the merger would affect householders. The group specifically examined competition concerns around…

Pepper Money (PMB) has finalised the terms to acquire 100% of the second charge lender, Optimum Credit Ltd, from its current owner Patron Capital, as part of its ongoing UK growth strategy. The purchase, which remains subject to regulatory approval, will see Pepper Money acquire Optimum Credit’s entire business, which includes a UK second charge…

Law firms Breeze & Wyles and Taylor Rose TTKW have announced that we will merge. Taylor Rose TTKW are a top 200 law firm. In a company statement Breeze & Wyles said “Our clients will continue to receive the same high level of service managed by the same dedicated teams, however, we will no longer be known…

Business services and software managed services specialist Civica Group has acquired case management software specialist iCasework. Based in London, iCasework specialises in SaaS applications for case management, providing cloud software for enterprise complaints management, correspondence management and information request handling including in support of GDPR. Its products are used by more than 100 customers in the…

Enforcement specialist JBW have announced have acquired Phoenix Commercial. The agreement will create the UK’s second largest enforcement company. The deal follows an acquisition of the shares in Phoenix by JBW, with funding provided by OUTSOURCING Inc OUTSOURCING Inc. is a Japanese listed company with headquarters in Tokyo and has expanded its operations internationally in Asia,…

Close Brothers has announced that it is selling its point-of-sale (POS) retail finance business to Swedish consumer lender Klarna, as it decides to focus on secured lending products, which include leasing and motor finance. The acquisition will significantly strengthen Klarna’s position in the UK market for retail financing and will enable accelerated growth and expansion of…

A report by the National Audit Office (NAO) has revealed that problem debt costing the economy £847 million a year. The report has found that  £248m of that sum came from increased use of housing and health services Problem debt – defined as the inability to pay debts or household bills – affects an estimated…

Enforcement specialist JBW Group has acquired shares in Court Enforcement Services (CESL) further growing the UK operations of multi-national of JBW’s parent company Outsourcing Inc. Court Enforcement Services will continue to be managed separately to JBW and will retain its brand and management team, led by Managing Director, Daren Simcox. Simcox said “Court Enforcement Services…

The Financial Conduct Authority (FCA) has announced that it has appointed Sheldon Mills as its new director of Competition. Mills is currently senior director, mergers and state aid at the Competition and Markets Authority (CMA). At the FCA, Mills will be a central figure in delivering one of the organisation’s operational objectives — to promote competition in…

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