Pay Slashed For Eight Top Wells Fargo Execs After Scandal

Wells Fargo slashed compensation for eight top executives Wednesday in its latest move to try to restore customer confidence after a fake accounts scandal. Wells Fargo, a major retail bank and a giant in mortgage lending, will withhold 2016 cash bonuses for eight senior executives, including chief executive Tim Sloan and chief financial officer John … Read more

Barclays To Confirm Cheshire As UK Chairman

Barclays will this week announce the appointment of Sir Ian Cheshire as chairman of its UK-based operations, a key milestone in its planning for new rules aimed at protecting taxpayers in a future banking crisis. Sky News has learnt that Sir Ian’s application to chair Barclays UK has been approved by the Prudential Regulation Authority … Read more

Barclays Seals Divorce Agreement With African Subsidiary

Barclays has reached agreement with its African subsidiary about the details of their divorce, a key step before the British bank can sell more shares in its Johannesburg-listed offshoot. Two people briefed on the matter said Barclays and its South African subsidiary were awaiting approval for the agreement from local regulators. Analysts have estimated that … Read more

OmniBank Targets 1m Accounts; GH¢3bn Deposits By 2020

OmniBank has been officially unveiled with the promise to focus on the development of entrepreneurs and Small and Medium Enterprises (SMEs). As the 32nd universal bank in the country, OmniBank has metamorphosed from Union Savings and Loans to become a bank and is poised to compete with the big players but with the focus on … Read more