The City�s financial regulators have delivered a damning verdict on the Co-operative Bank after an 18-month investigation, accusing the lender�s previous management team of �serious transgressions�.
They also revealed that investigations into �senior individuals� at the bank in the years leading up to its near collapse in 2013 are still ongoing.
However, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) decided against imposing fines on the bank, which has always trumpeted its ethical credentials, judging that a levy would merely impede its efforts to rebuild an adequate capital safer buffer.
The PRA said that, otherwise, it would have imposed a huge financial penalty of �120m on the bank.
The Co-op Bank, previously wholly owned by the Co-op Group, had to be bailed out by a consortium of hedge funds in 2013 after a �1.5bn black hole was uncovered in its finances.
The rescue was the culmination of years of mismanagement as the lender struggled to digest the Britannia building society, which it swallowed in 2009. The bank�s bid to buy 632 branches from Lloyds was also scuppered by the capital shortfall.
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A career in Corporate Finance means you would work for a company to help it find money to run the business, grow the business, make acquisitions, plan for it’s financial future and manage any cash on hand
A career in Corporate Finance means you would work for a company to help it find money to run the business, grow the business, make acquisitions, plan for it’s financial future and manage any cash on hand.
You might work for a large multinational company or a smaller player with high growth prospects. Responsibility can come fast and your problem-solving skills will get put to work quickly in corporate finance.
The job of the financial officer is to create value for a company. For example, the finance group at American Electric Power of Columbus, Ohio has four main areas of concentration: liquidity, flexibility, compliance with laws and regulatory support. The goals of the objective are met through four main activities carried out by AEP’s Finance Department: 1) designing, implementing and monitoring financial policies, 2) planning and executing the financing program, 3) managing cash resources, and 4) interfacing with the financial community and investors.
Jobs in corporate finance are also relatively stable while performance in these jobs counts. But it’s not like your job is going to depend on whether you’re selling enough this week or getting good deals finished this quarter. Rather the key to performing well in corporate finance is to work with a long view of what going to make your company successful.
Many would argue that corporate finance jobs are the most desirable in the entire field of finance.
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When you go for comparing car finance brokers, there are many things, which need to be taken care off while choosing the car financing company. Car finance brokers usually avail the services offered by various lenders. Lenders have their own set of criteria with unique terms and conditions and hence, each loan has a unique set of criteria for financing. When you would like to select the car finance broker, you need to consider other variables too along with the interest rates that they offer as this will deicide your final cost of the loan when you apply for it.