Metro Bank has launched a specialist Large Commercial Banking team focussed on supporting trading businesses, and staffed by a team of industry experts. Andy Veares, Director of Large Commercial Banking, will lead the new department and is joined by Paul Robinson and Simon Vallance, previously of Santander UK; and Mark Byrne and Andrew Cremin formally…
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Bank of England Governor, Mark Carney, has warned that a new breed of internet-only lenders are beginning to pose risks to the financial system and without tighter regulation they could trigger the next financial crash. High street banks were being displaced by online lenders that were untested in a recession, when bankruptcies might make their…
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The number of Scottish businesses becoming insolvent or entering receivership fell from 218 in the second quarter of 2016-17 to 209 in the current quarter. The latest figures are from Accountant in Bankruptcy (AIB) which reports on the number of corporate insolvencies and member voluntary liquidations logged. As a consequence of the time taken between…
Read moreThe Finance & Leasing Association (FLA) has called for a more user-friendly regulatory system from the Financial Conduct Authority (FCA), in its response to the regulator’s ‘Future Mission’ consultation. Fiona Hoyle, head of Consumer and Mortgage Finance at the FLA, said: “Consumer credit firms now account for at least 35,000 of the 56,000 regulated by…
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Euler Hermes has released an economic statement suggesting two years of substantial declines in insolvencies is about to end. Ludovic Subran, chief economist at Euler Hermes said “This is happening because global growth is not accelerating and will linger below +3% in the coming years. Companies are therefore more vulnerable to external shocks.” At a global…
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Advanced Collection Systems (ACS) has appointed Robert Anthony as Business Development Manager. Lisa Phillips, Managing Director of ACS, commented, “We have exciting plans for the next 3 years and partnership with Robert will help develop these. Robert will work with ACS as business development manager responsible for leading the growth of our consumer CCA regulated…
Read moreLeonard Curtis Business Solutions Group (LCBSG) has opened its first Scottish office in Glasgow. The Group’s new Glasgow office is headed up by Stuart Robb who joined LCBSG from a Big Four practice in Scotland where he gained a wealth of experience of the Scottish insolvency market. Stuart has already been joined by a number…
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Azher Quyoom has joined Andrew Jackson as Restructuring and Turnaround Partner. Quyoom joins Bond Dickinson. Mark Pearson-Kendall, managing partner of Andrew Jackson,: “We’ve had an exciting start to the year, with some big developments over the last two months that add real strength and depth to our restructuring and insolvency offering. The valuable expertise Azher…
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Ofgem has announced that British Gas Business is to pay £9.5 million in redress, following failings in its registrations, complaints handling and billing processes for business customers. British Gas Business implemented a new IT billing system in March 2014 which left tens of thousands of its business customers with delayed and inaccurate bills. Over 6,000…
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Anglia UK, is celebrating two decades of solid growth by employing new staff. Anglia was set up by Managing Director Mark Scotney in 1997 as a small firm specialising in vehicle repossessions for the car finance industry. Since that time it has grown steadily to the point that it now employs 85 people with an annual…
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The final quarter of 2016 saw a surge in economic confidence and a positive outlook on business growth, according to preliminary findings from the UK’s Credit Managers Index (CMI). Early indications from the Chartered Institute of Credit Management’s (CICM) quarterly barometer, show a 4.5-point increase in the headline result to 59.8. This represents the Index’s highest score since…
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Analysis from KPMG has shown that 2016 saw the reversal of a six year downward trend in levels of insolvency for British businesses, following an uptick in companies entering into administration in the second half of the year. The numbers, taken from notices in the London Gazette, show that 1,174 companies, or groups of companies, entered…
Read moreCitizens Advice has launched a brand new league table allowing millions of small business owners to compare how well energy suppliers are handling their complaints. The new ranking – which will be published quarterly – measures how effectively energy suppliers are dealing with complaints from small business customers across Great Britain. It follows the charity’s…
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