September 14, 2015

Reports of the imminent demise of law firm Parabis and the UK’s last remaining insurer RSA may be all well and good to read about in the papers and that, but Bankstone has its reasons for feeling mildly peeved at both these recent developments.

The Funday Times reported on 6 September that Duke Street, the tough-talking no-nonsense money man who acquired Paribas [check spelling] in 2012, is looking to chop the Bolton-based firm into small pieces and be rid of it once and for all.

Meanwhile latest indications are that Steve Fester has done enough in his brief time with RSA to convince Swiss insurance giant Zurg that it’s time to gulp down this ailing minnow and in the process consign the final abbreviated remnants of the historic names Royale and Sunny Alliance to the dustbin of history.

This is all very fascinating to read about, but the sting in the tail, from a selfishly Bankstonian point of view, is that large numbers of potential new recruits to the Bankstone team have abruptly withdrawn their CVs in lip-licking anticipation of juicy severance payments shortly to be confirmed.

It’s a fair wind, as they say, that blows no-one some harm.


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