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’UBS banker to succeed Kingman at UKFI
The appointment of Robin Budenberg, a seasoned UBS banker, as the next chief executive of UK Financial Investments, is expected to be confirmed on Wednesday, along with details of a plan to carve up nationalised mortgage lender Northern Rock into “good”
Shake-up at UKFI stuns City
Top City of London bankers were stunned on Tuesday by news of a shakeup in the team that runs the UK taxpayer’s stake in the banking industry, raising fears of a “massive hole” in the management of a portfolio that could eventually be sold for more than £100bn.
The UKFI gravy train? No
And so to the UKFI remuneration report, cos that’s the first thing journalists do when they pickup an annual report…
Hmm. Not much to gawp at there.
Bonus hunters might point out that such performance-related pay will be awarded in arrears – so these figures will not feature in the table above.
Bank of Kingman annual report
Just out – the UK Financial Investments annual report, and accompanying guff.
Some quick links:
UKFI Strategy: Market Investments and Annual Report and Accounts
UKFI Strategy: Market Investments Share Price Performance Chart
UKFI Strategy:
Profits goal for UK public bank stake
The taxpayer’s multi-billion pound stake in the British banking industry is to be managed by a new “arm’s length” company, whose aim is to ensure that nationalisation yields a profit. Sir Philip Hampton,
Undertaker on standby – KPMG will administer Northern Rock, if required
It’s only a precaution, we’re told, just in case an alternative solution proves elusive, but KPMG has been lined up to act as administrator to Northern Rock, FT Alphaville understands.
Potential bidders are still said to be crunching their numbers on the wrecked mortgage bank,