UK: BARCLAYS LAUNCHES PRIVATE CLIENTS SERVICE

Article Abstract:

Barclays Bank has launched Barclays Private Clients, a one-stop banking and investment service targeted at the affluent client, with incomes of GBu 60,000 minimum, or with over GBu1mn invested. The service comprises stockbroking, private banking and offshore activities, and it is expected to manage GBu 81bn in 33 countries. European business is expected to grow with a customer base of 1.4mn anticipated by 2005. The move represents a departure from tied advice to panels of preferred providers.

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UK: NORWICH UNION LAUNCHES ETHICAL INVESTMENT ARM

Article Abstract:

Norwich Union Investment Funds will establish an ethical open-ended investment company (OEIC) on 19 February 2001. The six OEICs, which will have an initial charge of 4%, will target companies with proven environmental and social credentials. They include UK growth, global growth, corporate bond, European growth and managed growth.

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UK: SKIPTON LAUNCHES LOYALTY SCHEME

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Skipton Building Society has launched a mortgage discount scheme for loyal mortgage customers. Customers who have held a mortgage for two years or over will receive a 0.3% reduction on their standard variable rate mortgages, while those holding mortgages for four years or more will be given a 0.5% cut.

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