Henry Howard Finance has announced that Mark Catton, has been appointed as the new group Chief Executive of Henry Howard Finance Group, Catton is a former Chief Executive of RBS’ UK corporate bank. Catton will take over from the current group CEO and co-founder Mark Crook. Reflecting on the recent successes of the business, Mark…
Read moreThe Financial Conduct Authority (FCA) has today launched a consultation on plans to give more small businesses access to the Financial Ombudsman Service (FOS). This follows a review of the protections available to small and medium-sized enterprises (SMEs) as users of financial services. At the moment only individual consumers and around 5.5 million micro-enterprises (the…
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Household spending increased more rapidly than income growth in the last financial year (2016-17), with the biggest rises taking place among lower-income households, the Resolution Foundation said in response to the latest ONS Family Spending figures. The ONS figures show that households increased their spending by 4 percent in 2016-17, helped by low inflation and…
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Business Secretary Greg Clark has welcomed a decision by several banks to set up funds to support small businesses affected by Carillion’s insolvency. Lloyds Banking Group has launched a £50 million fund, HSBC a £100 million fund and RBS has made £75 million of assistance available. It follows a meeting held by Greg Clark yesterday with banks where…
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Metro Bank, has announced the appointment of Jamie Sim as a Commercial Banking Director within the Commercial Real Estate team. Reporting directly to Gabrielle Berring, Director of Commercial Real Estate, who joined the bank earlier this year, Jamie will be responsible for managing new and existing customers portfolios within the real estate sector. Sim has…
Read moreThe Money Advice Service has published The Economic Impact of Debt Advice, a report that demonstrates a financial return of up to £960m per year to the UK economy. This is in the context of an estimated £150m and £200m total annual investment in debt advice. The research, undertaken by Europe Economics, builds on work previously…
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The Civil Enforcement Association (CIVEA) has appointed Russell Hamblin-Boone to a new position of Chief Executive Officer. Mr Hamblin-Boone will give a new voice and direction to CIVEA and its members at a time when the industry is facing a review of regulations and needs strong representation in policy debates. Hamblin-Boone was previously Chief Executive…
Read moreThe Office for National Statistics has published its latest UK consumer price inflation figures showing the Consumer Prices Index was at 3% in December 2017, down from 3.1% in November 2017. Findings published today from the Institute for Fiscal Studies also reveal that around a quarter of the lowest income households are struggling with arrears…
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UK sales recorded four consecutive quarters of growth in 2017, rising by 24.91% or £1.77 trillion worth of sales in the last three months of the year. Bad debt also dropped to its lowest point at the end of 2017, with UK businesses chasing an average of £193,014 worth of unpaid invoices in Q4 2017,…
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Specialist Bank, Aldermore, the specialist bank, has announced the appointment of Tim Bearder as Head of Specialist Vehicle Valuations, a key role within the Bank’s Business Finance division. Bearder, whose career spans over 35 years in the motor industry, brings extensive knowledge and experience to the role supporting the Bank’s ambition of gaining a greater…
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PwC has been appointed as the special managers to troubled outsourcing giant Carillion, which has announced it is going into compulsory liquidation with immediate effect, putting thousands of jobs and major government infrastructure projects, including the new HS2 high-speed rail link, at risk This weekend saw crisis talks between the company, key financial stakeholders and…
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Britain’s complex tax system has caused a rise in the number of companies collapsing because of their debts to HMRC, according to a report. HM Revenues & Customs has emerged as the largest single creditor in 65% of cases where a business has been liquidated, a Freedom of Information request by Enterprise Tax Consultants has…
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New research from GoCompare Money has revealed that Brits are hiding a collective £13bn worth of secret personal debt from their friends, families and even their partners. The study from the comparison site found that 40% of UK adults had some form of personal debt (excluding mortgages), owing £6,131, on average. However, despite nearly a third (29%)…
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