Government creates company to manage banks' shareholdings
Sir Philip Hampton to be first chair of government company to watch over its shareholdings in banks
Sir Philip Hampton to be first chair of government company to watch over its shareholdings in banks
The government has created a company, called UK Financial Investments (UKFI),
which will act to protect the taxpayers’ investment in banks, promoting
stability and competition.
It will also look to ensure bank management incentives reward the creation of
long-term value and not for failure.
Its board will contain a private sector chair, three non-executive private
sector members, a chief executive and two senior government officials from HM
Treasury and the Shareholder Executive.
Sainsbury’s chairman Sir Philip Hampton will be its first chair, and John
Kingman its chief executive.
Sir Philip is a former FD at some of the biggest companies in the country,
including LloydsTSB and BT among others.
John Kingman is second permanent secretary and managing director, public
services & growth, HM Treasury.
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleFrom battling underground invoice frauds in China to navigating bribery risks in the Middle East, Mazars' Nigel Layton shares essential insights on co...
View articleAccording to the Chartered IIA, internal audit should be placed at the forefront of a new Code Read More...
View articleBy switching the focus from ‘profit made for investors’ to ‘value created for all’, accountants can find ways to quantify and evaluate the impact of a...
View articleThe proposals form part of an ongoing overhaul of audit and corporate governance in the UK Read More...
View articleThe first update to the UK Corporate Governance Code in four years will see the creation of a stronger framework for reporting on internal controls an...
View articleBusinesses must adopt a healthy corporate culture or risk legal and business consequences Read More...
View articleDuring a conversation with Accountancy Age, Mazars partner Bob Neate breaks down the draft audit reform bill, warning of a potential capacity issue fo...
View articleThe FRC and major audit firms have criticised the UK government’s watered-down proposals Read More...
View article