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Frans Woelders, the Chief Data Officer at NatWest, is set to transition to Danske Bank. This move marks a significant shift in leadership within the banking sector, highlighting ongoing changes in data management roles across financial institutions.
Rothesay reported a strong performance in 2024, generating new business premiums of £15.7bn, up from £12.7bn in 2023, and increasing assets under management to £70.7bn. The firm secured over one million pensions and made annual payments of approximately £3.8bn to policyholders, while maintaining a robust solvency coverage ratio of 261%. CEO Tom Pearce highlighted the competitive pension risk transfer market as a source of ongoing business opportunities, supported by long-term shareholders GIC and MassMutual.
UBS has been ordered to pay a fine of 172.4 million euros after the EU court upheld penalties for its involvement in a bond cartel. The court also slightly reduced fines for UniCredit and Nomura, while other banks involved were not penalized. UBS is considering an appeal against the ruling, which highlights ongoing scrutiny of banking practices amid potential market turbulence.
NatWest Group is set to expand its accelerator initiative, aiming to support 10,000 entrepreneurs by 2025 as it marks the program's tenth anniversary. Since its inception in 2015, the initiative has grown to 12 hubs, aiding over 9,700 businesses and creating around 12,000 jobs, while also forming partnerships with UK universities to enhance entrepreneurial growth.
NatWest Accelerator is partnering with 10 universities to provide 10,000 entrepreneurs access to its startup community, celebrating its 10th anniversary. Since its inception in 2015, the program has supported nearly 10,000 businesses, generating over £684 million in investment and creating 12,000 jobs, with a focus on innovation-driven sectors like technology and healthcare. The expansion includes collaborations with institutions such as the University of Edinburgh and the University of Glasgow, emphasizing sustainability and deep tech.
NatWest Group, through its Royal Bank of Scotland subsidiary, plans to expand its Accelerator program to support 10,000 entrepreneurs by 2025, partnering with up to 10 UK universities. Since its inception in 2015, the program has aided nearly 10,000 businesses, raising over £684m and creating more than 12,000 jobs. The focus will be on high-growth sectors like Technology, Healthcare Tech, Life Sciences, and Fintech to drive economic growth.
NatWest Group plans to expand its Accelerator program, aiming to support 10,000 entrepreneurs by 2025. Since its inception in 2015, the initiative has grown to 12 UK sites, aiding nearly 10,000 businesses and generating around 12,000 jobs with over £684m in investment. The bank will partner with up to 10 universities to enhance support for innovation-focused sectors like technology and healthcare.
UBS, UniCredit, and Nomura have lost their appeal against a €371 million EU cartel fine, with the court upholding UBS's €172.4 million penalty while reducing fines for UniCredit and Nomura. The banks' traders were found to have engaged in anti-competitive practices from 2007 to 2011. Both UniCredit and Nomura plan to appeal the ruling, disputing their involvement in the infringement.
The EU's General Court upheld significant fines against UBS, Nomura, and UniCredit for colluding in the government bond markets during the 2008 financial crisis. The banks, along with others, were found to have shared sensitive information to gain an unfair advantage. UBS faces fines exceeding €172 million, while Nomura and UniCredit are fined €125.6 million and €65 million, respectively.
UBS is open to compromise on capital requirements, proposing to limit risky investment banking to 30% of its business and potentially adding $5 billion in equity, though less than regulators demand. The bank faces a €172 million fine for participating in a bond trading cartel, which it may appeal. Additionally, UBS experienced a technical disruption affecting client payment transactions, with double debits reported, but the issue has been identified and will be corrected.
NatWest Group plc
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