Monday, 23rd November 2009

 

8 January 2009 - Press Briefing

Santander could be forced to compensate private banking clients

Santander’s private banking unit may have to compensate rich clients who suffered huge losses on exposure to bonds of Lehman Brothers, the collapsed Wall Street giant, according to a report in The Times, London.

The Spanish bank may also have to compensate customers who lost money in the Bernard Madoff scandal after putting money into its Optimal strategic US equity fund, which lost nearly €2.3bn ($3.1bn) of clients cash in the scam.

Read the original

Most Read

  1. Colonel Gaddafi's son buys £10m London property
  2. Lombard Odier hires from Coutts
  3. More US wealthy opt to surrender their citizenship
  4. Stanhope Capital grows staff by 50%
  5. Comment: Prince William seals the ascent of hedge funds

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Diary: Utopia for Yacht Lovers

Looking to get more from your yacht? Why not share it with others?

2nd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU

Tel: +44 (0) 20 7309 7788

Company No 3089347