Executives at Credit Suisse ignored warnings from colleagues about troubled Sanjeev Gupta, pressing ahead with funnelling billions to his business despite others at the bank blacklisting the steel tycoon.
Steve Ayers
Surrey-based advisory firm AHR Private Wealth has poached its managing director from Mayfair this week, as the former head of Lloyds Private Banking steps out of the City.
Steve Ayers is set to join the firm as it launches a new UK based private client business this week.
“We look forward to seeing the business prosper under his stewardship,” executive director at the AHR group, Tyla Phillips, said.
“Steve Ayers also brings with him a wealth of expertise and a strong track record in the motivation and development of successful teams.”
With more than two decades of experience, Ayers joins as the newly launched firm looks to recruit 20 advisers over the next 12 months.
Bank of England meeting: What to expect later today
Andrew Bailey, former head of the FCA and now BoE governor (Getty Images)
With more than 50m doses of the Covid vaccine administered and positive signs of economic recovery, all eyes will be on the Bank of England later today.
While restrictions were reintroduced in the first quarter the hit to GDP seems to have been less than originally expected, and there are encouraging signs in the second quarter.
The central bank’s Monetary Policy Committee will meet today and investors will be watching closely for any signals about when it will start turning more hawkish. It is generally accepted interest rates will remain unchanged, but what will the bank’s outlook look like?
New Credit Suisse chair Horta-Osório says bank’s crisis is worse he’s seen
The situation at Credit Suisse is severe, António Horta-Osório has warned.
New Credit Suisse chair António Horta-Osório has told investors the recent crisis at the bank is the worst he has seen in his career.
Speaking at an annual meeting yesterday the former Lloyds boss told investors the situation at Credit Suisse was severe.
“I have personally worked at and led several banks in different countries and have lived through many crises,” he told investors.
“What has happened with Credit Suisse over the last eight weeks, with the US-based hedge fund and the supply chain finance funds matters, certainly goes beyond that.”