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Financial Services - 2001
Skipton Building Society has acquired Industrial Equipment Finance of Redhill, Surrey, for £4.5m.
Antfactory, the technology investment group, is to be acquired by investment bank Seymour Pierce, in a £100m deal that will enable Seymour Pierce to make further acquisitions in the fund management industry.
Lloyds TSB is to relocate the headquarters of its Black Horse financial services business and 1,000 staff from Cardiff's Newport Road to the new St William House scheme in 2003.
The Inland Revenue is soon to announce plans for the creation of about 500 jobs at a new call centre on Bracken Hill Business Park in Peterlee next year.
Skandia of Sweden has agreed to acquire Lynx Group for £210m, in order to gain access to the Bankhall investment management operation, while the Lynx IT business will be sold to management for £60m.
Altium Capital, the London-based investment bank, has undergone a management buy-out from Gold-Zack Group, in a deal that values the business at £65m.
Liverpool Victoria is to acquire the administration and investment operations of Hearts of Oak Insurance Group, which has funds under management of £350m.
CGNU has agreed to sell Plant Safety, its UK in-service inspection business with net assets of £3m, to Bureau Veritas.
Yorkshire Bank is to set up a regional business centre at the former Wraggs industrial site in Sheffield, where it will employ 50 business advisors.
HSBC is to set up a £14m call centre at the De Montfort Business Park in Leicester, and 625 staff will be relocated from the bank's existing sites on Charles Street and Wellington Street.
Aberdeen Asset Management is to acquire Old Mutual's fund management business on the Isle of Man for £36m, in order to gain a foothold in the offshore bond market.
Capita Group has acquired Moorgate Registrars, the Chelmsford-based registrar, for £2m, in order to expand its shareholder services business.
Parkman has acquired Newbury King, the management and business consultancy, for £0.2m.
Alldaypa is planning to set up a £7m secretarial services call centre at either Salford Quays or Cheetham Hill in Manchester, with the creation of 500 jobs.
Abbey National is to create 600 new jobs over the next 18 months in order to expand its small business banking division, including 500 branch-based managers and 50 sales staff for the First National leasing operation.
Zetters is to acquire Galliano Investments, the foreign exchange dealer, for up to £3m.
Royal Liver, the mutual insurance firm, has bought the industrial branch business of Irish Life & Permanent for £107m.
Withers has announced plans to merge with New York-based Bergman Horowitz & Reynolds to create a leading international law firm focused on the private client market.
TD Waterhouse is to acquire DLJdirect from Credit Suisse First Boston, in order to expand its stockbroking business in the UK.
Taylor Price Direct Choice is to start recruiting staff for a new three-storey insurance centre due to open at the Claydon Business Park in Ipswich next April, which could employ up to 200.
Standard Life Investments, the asset management company, is planning to open its first US office in Boston next year.
Tikit Group has acquired Aurra Consulting, the supplier of consultancy services to law firms, for an initial £0.6m.
The Welsh Development Agency is supporting a £1.8m investment by Creditsafe UK in a new telesales centre at the Caerphilly Business Park, which will create 60 jobs.
Herbert Smith, the law firm, is planning to form an alliance with Stibbe, in order to expand its business into Belgium and the Netherlands.
Yorkshire Building Society is planning to merge with the Gainsborough Building Society, which has one branch and more than a dozen agency offices in Lincolnshire.
Unilever is considering plans to launch a venture capital fund to develop new business initiatives not related to its core activities of food and personal care.
Brit Insurance is planning to raise £154m in a share placing in order to double the volume of business it underwrites at Lloyd's of London next year.
Hiscox is planning to raise £54m in a rights issue to fund the expansion of its Hiscox Insurance and Lloyd's operations.
Lloyds TSB has acquired CashFriday, the Gloucester-based provider of funding and payroll services to the temporary recruitment sector, for £10m, in order to expand its Lloyds TSB Commercial Finance operation.
Whitehead Mann is to acquire Baines Gwinner, the financial and professional services executive search firm with offices in London and New York, for £10m.
Eversheds, the law firm, is to relocate its two Cardiff offices and 615 staff to a new headquarters at Bute Square next summer.
Royal Bank of Scotland is to relocate 18 administrative offices and 3,000 Manchester-based staff to two new buildings at the £650m Spinningfields development by 2004.
Thomsons, the Manchester-based independent financial adviser, has been acquired by AWD of Germany for £31m.
Maclay Murray & Spens is to acquire the private client arm of legal firm McGrigor Donald, which will involve the transfer of two partners and 15 staff.
Adrian Flux Insurance is planning to create up to 50 jobs over the next year, following the recent consolidation of its three King's Lynn offices onto a single site at East Winch Hall.
Edward Jones, the US stockbroker, is looking to open additional one-person offices in high street locations throughout the UK, expanding its existing chain from 102 to 400 within a year.
Charles Stanley has acquired Torrie & Co, the Edinburgh-based stockbroker, for up to £7.8m.
Investec has acquired European Capital, the London-based project finance company, in order to expand its infrastructure financing capabilities beyond its South African base.
Brewin Dolphin, the stockbroker, has acquired Russell Newth for an initial £0.9m.
HBOS is planning to invest £40m in the expansion of its Clerical Medical Investment Management business over the next three years, and 150 staff will be added to the current 250.
MGt has announced 130 new jobs at its customer service call centre in Kirkcaldy, taking the workforce to nearly 600.
Royal & Sun Alliance is planning to raise £800m through a programme of unspecified disposals over the next year, and the proceeds will be used to expand its general insurance business.
Saga Group is to create up to 750 new jobs in Kent, including 600 at a new £15m call centre near Margate selling financial and other services to customers over 50.
Egg is creating 110 new jobs at its internet banking call centre in Derby over the next few months.
Prudential is to sell its general insurance business to Winterthur of Switzerland for £353m, and has also announced plans to shed up to 2,100 jobs at sites in London, Reading, Belfast and Stirling.
Pinsent Curtis Biddle is to open an office in Manchester in January, staffed by about 20 lawyers.
DAS, the Bristol-based insurance company, has submitted plans to build a new 68,000 sq ft office at the Locking Castle Business Park in Weston-super-Mare.
Liffe, the London International Financial Futures & Options Exchange, is to be acquired by Paris-based Euronext for £555m.
Berry Birch & Noble is planning a reverse takeover of the Berkeley independent financial advisory business, in a deal that values Berkeley at £70m.
Biggart Baillie has acquired Steedman Ramage, the law firm with 44 employees and offices in Glasgow and Edinburgh.
The Inland Revenue is considering plans to set up a new call centre on Merseyside with the creation of up to 500 jobs, and is said to be looking at two possible sites in Birkenhead and Bootle.
Duke Street is setting up a new management company in Madrid called Iberduke Capital Partners, as part of a strategy to expand its private equity business in Spain and Portugal.
Prudential is to acquire YoungPoong Life, the South Korean insurance company, from Korea Zinc for £20m.
HBOS is planning to expand its activities in the small business banking market through the recruitment of an extra 1,500 staff over the next three years, which will involve the use of Halifax's high street branches.
Putsmans and Willcox Lane Clutterbuck are to merge to create a combined Birmingham-based law firm with 21 partners and more than 220 staff.
Budget Financial Services has acquired Dial Direct Insurance Marketing, the insurance intermediary with 536 Coventry-based staff.
Weightmans is to open a law office in London next May, having acquired the litigation business of Vizard Oldham.
Scottish Equitable is to launch a new personal investments business in Stirling next year, with the creation of at least 100 jobs.
Tenon is expanding its financial services operation with the £67m acquisition of four businesses - two BDO Stoy Hayward offices in the east Midlands, Livingstone Guarantee, Dhand Hatchard Davies and Statham Gill Davies.
AMP of Australia is planning to expand its door-to-door insurance salesforce in the UK from 600 to 1,000 over the next two years.
Credit Suisse Asset Management is to acquire Sun Life of Canada's UK fund management operations for up to £130m.
Hanco is planning to double the size of its network of 1,150 cashpoint machines over the next two years, by installing about 150 new machines a month in convenience stores.
Royal Bank of Scotland has announced plans to expand its operations in France, Germany, Spain and Italy, which will involve the appointment of four country heads and a 30% increase in the 300-strong staff.
MiniBusPlus, the minibus insurance wholesaler, has undergone a management buy-out from Bayliss & Cooke for several million pounds.
Bank of Ireland has launched a new leasing and hire purchase business and expects to recruit 150 staff over the next three years.
Massow Rainbow, the firm of financial advisers, has been bought out of receivership by its original founder for undisclosed terms.
Hermes Pensions Management is planning to more then double the size of its corporate governance business, increasing the number of specialists from 15 to 40 by the end of 2002.
Cavanagh Group, the firm of financial advisers, is to raise £1.5m in a share issue in order to recruit new consultants.
Towergate Underwriting Group is to acquire Folgate Insurance for £20m, and is now looking to spend a further £40m on acquisitions.
Tenon is to acquire Techlocate, the Manchester-based inward investment consultancy, for £0.6m.
Manchester United is to expand its financial services division in partnership with Bank of Scotland, Britannia and Zurich Financial Services, and will set up an advice centre at Old Trafford.
Moneybox is raising £11m in second-round funding to install an additional 2,400 cash machines in the UK, and will also open networks in Germany and the Netherlands.
WH Ireland is to acquire Stockholm Investments for an initial £0.4m, in order to increase the funds under management at its London office.
Royal Bank of Scotland is planning to create 6,000 jobs in order to improve customer service by replacing NatWest's automated telephone service.
Sportscard, the provider of credit cards to sports fans, is being acquired by UKbetting for £4.4m.
Barclays has announced plans to invest £50m in the roll out of Woolwich's Open Plan account, which enables customers to offset their current account balance against their mortgage.
Providian National Bank is planning to relocate its London headquarters to a 20,000 sq ft office on Monument Street.
Abbey National has set up four new companies to manage its branch networks in Belfast, Cardiff, Newcastle and Ealing, in an extension of its franchising experiment that will give more control to local bank managers.
PricewaterhouseCoopers is to close its office in Middlesbrough town centre and relocate the 20 staff to Newcastle by next January.
Lab Medico Legal Services, the supplier of medical reports to solicitors, is planning to move to a larger office at Bracken Hill in Peterlee, where it will employ up to 120 staff.
Charles Taylor Consulting has acquired the general aviation loss adjusting business of HCC Insurance Holdings of the US for £5.3m.
IFG Group has acquired Saunderson Ventures, the London-based supplier of financial advisory services, for £7m.
CGNU is creating 100 jobs at its Norwich Union car insurance call centres in Norwich and Worthing.
Portman Building Society is to acquire Sun Bank, the Stevenage-based mortgage specialist with 180 staff, from Sun Life of Canada for £95m.
Millfield has acquired Heritage for £10m, in order to double its network of independent financial advisers to 270.
MBNA is seeking permission to double the size of its credit card headquarters on Chester Business Park, which could lead to the creation of up to 3,000 jobs.
HBOS is planning to expand in the small business banking market, which will involve the creation of hundreds of jobs at Halifax branches and Bank of Scotland call centres.
Axa Assistance is moving to a new head office in Redhill later this month, with 240 staff relocating from Leatherhead and 140 from Reigate.
Barclays is to relocate its head office functions from a number of offices throughout London to a new 1m sq ft building at Canary Wharf.
Savills is planning to spend £17m on the expansion of its upmarket estate agency business, through bolt-on acquisitions and the formation of partnerships.
Britannic is to expand its insurance distribution network through two new deals with Irish Life & Permanent and Isle of Man-based Hansard Group.
Virgin Incentives, the voucher-giving service, is opening a call centre in Thornaby on Teesside, with the creation of up to 20 jobs.
Collins Stewart is planning to expand its hedge fund business into Italy and other European countries, and is also continuing to grow its investment trust operations.
Tep Exchange has raised about £1m in a flotation on Aim, in order to fund the development of its electronic trading platform for dealing in endowment policies.
First Trust has announced plans to invest £10m in its banking network in Northern Ireland, including the creation of a £3m flagship branch in Belfast city centre.
Britannic Assurance is to acquire Blairlogie Capital Management of Edinburgh for undisclosed terms, in order to expand its Britannic Asset Management subsidiary.
Centrica is to invest £12m in the launch of a new smartcard for golfers, in partnership with the English Golf Union and AdvancedWare.
Cox Insurance is to recruit 100 additional staff at its insurance call centre in Bradford over the next few months.
NewMedia Spark is planning to acquire Sputz, the German broking and venture capital group, for £30m.
Cattles is planning to open up to 100 consumer credit branches over the next 18 months, taking the total to 550.
Legal & General is to recruit 100 extra staff in Birmingham over the next nine months, partly due to a partnership deal that involves L&G's products being sold by the Woolwich.
Bank of Scotland is opening the country's first convenience store bank at a Spar outlet in Inverkeithing, and the idea could be expanded to other areas.
Icollector, the online auction business, is to be acquired by Ableauctions of the US for up to £9.6m, on the condition that a £2.4m share placing goes ahead.
Broadcastle is to acquire Cash Express, the invoice discounting company, for £0.8m.
Royal Bank of Scotland has announced plans to create 100 jobs at a new £3m call centre in Norwich for its Virgin One all-in-one current account and mortgage.
CGNU is to create 250 jobs at its Norwich Union life and pensions business in York, having decided to relocate some administration processing investment from Croydon.
William M Mercer is to acquire SCA Consulting, the supplier of advice on performance-related pay packages, for undisclosed terms.
Yorkshire Building Society is creating 72 jobs at call centres in Bradford over the next six months.
Royal Bank of Scotland is to acquire Euro Sales Finance, the invoice discounting company, for £68m.
Claims Direct, the personal injury claims specialist, has recommended a £19m takeover bid from its two founders.
Beeson Gregory has raised £4.5m in a share placing to expand its IP2IPO intellectual property division.
TD Waterhouse is to close its share dealing office in Bradford with the loss of up to 80 jobs, although some staff will relocate to Leeds and Manchester.
Lloyds TSB Insurance has bought the brand name of Screentrade.co.uk, the online insurance broker, from Misys for undisclosed terms.
Bank of Scotland is to recruit an additional 15 managers at its new business bank in Inverness.
Insinger de Beaufort of the Netherlands is to acquire United Trust Bank for £8.7m, in order to gain a UK banking licence to expand its wealth management business.
Halifax Cetelem is to set up a national operations centre in Coventry to supply finance and credit services to retailers, with the creation of more than 100 jobs.
CGNU is to acquire the Insurance Corporation of Singapore from DBS Group for £152m, which will more than double its presence in Asia.
American Express is to open Sharepeople investment centres in four of its London travel centres, and the trial will be extended to other sites if successful.
Alliance & Leicester is looking to spend up to £500m on acquisitions to expand its retail and small business banking operations.
The Scottish Executive has announced plans to move the Scottish Public Pensions Agency from Edinburgh to Galashiels at the end of next year, which is expected to lead to the relocation of 50 jobs and the creation of 175 new jobs.
Royal & Sun Alliance is to acquire Seguros BBV Probursa, the Mexican insurance company, for £29m.
Royal Bank of Scotland is to buy the US retail banking business of Pittsburgh-based Mellon Financial for £1.5bn, funded by a £2bn share placing.
Gartmore is to sell its passive equity fund management business to State Street Global Advisors for undisclosed terms, in order to focus on its high margin active business.
Levy Gee, the accountancy firm, has been acquired by a new company called Numerica for undisclosed terms, and Numerica is now looking to acquire further small professional services firms.
Aberdeen Asset Management is to acquire Ivory & Sime Asset Management from Friends Ivory & Sime for £9.6m.
Liverpool Victoria is expected to create more than 100 jobs in Poole through the acquisition of Essex-based Bishopscourt Financial Holdings and some of its subsidiaries.
NewMedia Spark is to shed some of the 30 jobs at its London office and postpone plans to set up an office in India, in order to reduce costs in its technology investment business by £3m a year.
Bonhams & Brooks is planning to merge with Phillips to create a combined fine art auction group that will include Phillips' Bond Street saleroom and regional auction houses.
Hercules Property Services is to acquire Mainguild, the franchised residential auction house of the Winkworth estate agency, for up to £0.5m.
Liverpool Victoria has acquired the Royal National Pension Fund for Nurses in a £248m deal.
Enterprise has acquired First Claims Response, the supplier of maintenance services to local authorities and hospital trusts in the North of England, for up to £5.8m.
Royal & Sun Alliance has agreed to buy the property and casualty services arm of collapsed Independent Insurance for almost £3m, securing 300 jobs.
Royal Bank of Scotland is considering plans to expand its US presence by acquiring Mellon Financial of Pittsburgh for more than £1.3bn.
CPP Holdings has acquired Homecare Holdings, the mobile phone insurance subsidiary of Miller Fisher, for undisclosed terms.
Labour is planning to relocate its headquarters and 80 jobs from London's Millbank to North Shields, while a further 60 staff will be moved to new offices in central London.
The government has announced plans to set up 20 pension administration centres around the country, including one in Swansea that will create 500 new jobs.
Eversheds, the law firm, is to relocate 310 staff from two offices in Newcastle-upon-Tyne to a new office at the Central Square development early next year.
Edinburgh Fund Managers has acquired Portfolio Fund Management from Liberty International for up to £20m.
Bank of Ireland is to acquire Willis Financial, the independent financial adviser, for £40m, which will provide its Bristol & West division with a network of 18 offices and 100 consultants.
Union has sold its margin share trading and foreign exchange operations to Man Financial for £1.8m.
Lovells is to merge with Paris and Brussels-based Simeon & Associes, creating a combined law firm with more than 130 partners in continental Europe.
Hammond Suddards Edge is to merge with Rossotto e Associati, the Italian law firm with 44 lawyers.
Penna Consulting has acquired James Black Partnership, the Belfast-based human resources consultancy, for up to £5.2m.
Newmarket Underwriting, the Lloyd's managing agency with 35 staff, has been acquired by Danish Re and has also decided to close its marine underwriting operation.
Halifax has opened its new £45m banking call centre in Belfast, and has also announced plans to create a further 100 jobs at an e-commerce centre on the site.
Abbey National is creating 15 new jobs in Chelmsford, as the town has been chosen as one of nine locations nationwide to act as an advice centre for its new Inscape investment management service.
Towry Law is being acquired by AMP of Australia for £76m, and AMP is planning to expand the business into the UK's largest financial adviser.
Legal & General is to sell its Fairmont financial services business to Brown Shipley for £35m.
BWD Securities is to acquire Dennis Murphy Campbell for £10m, in order to expand its stockbroking business into the City of London.
National Mutual, the pensions company with 690 staff, has agreed to a £370m takeover offer from GE Capital, and will now seek approval from its members.
Royal Bank of Scotland has acquired the Italian and German motor insurance operations of Allstate of the US for undisclosed terms, as part of a strategy to expand its Direct Line subsidiary into continental Europe.
Charterhouse Development Capital, the venture capital group, has undergone a management buy-out from HSBC for undisclosed terms.
Royal & Sun Alliance is to sell its Canadian life insurance business to the Maritime Life Assurance Company for £110m.
Millfield is planning to expand its network of financial advisers from 100 to about 300 by April 2002.
Handelsbanken of Sweden is to open a branch in Leeds to act as the centre for its operations in Yorkshire and the north east.
The Meteorological Office is to invest £0.5m in a new online trading exchange for weather risk derivatives called WeatherXchange.com.
NewMedia Spark is to acquire GlobalNetFinancial, the online financial services company, for about £9m.
Churchill Insurance is to acquire AMP's general insurance operations in the UK for £80m, which will involve the transfer of about 420 Peterborough-based staff.
Royal Bank of Scotland is to create 80 new jobs at the NatWest Bank call centre at Theale near Reading.
CGNU is to acquire Fortis Australia from Fortis Group for £111m, in order to expand its general insurance business in Australia.
PricewaterhouseCoopers is to close its Derby office next month, and 50 staff will relocate to Nottingham.
Active is to expand its financial services business process outsourcing centre near Rotherham with the creation of 250 jobs, while a further 100 jobs will be created in Halesowen.
PricewaterhouseCoopers is to create a further 50 jobs at its new Business Process Outsourcing centre in Potters Bar, having won a contract to provide human resource services for Nortel Networks.
Kingsbridge Holdings is to acquire Benson McGarvey, the Nottingham-based financial adviser, for £13m.
Legal & General is planning to create a further 300 jobs at its two financial services sites in Cardiff this year.
The London Stock Exchange is to relocate to larger premises at Paternoster Square in the City of London, having signed a 25-year lease on an eight-storey building at King Edward's Court.
Green Flag has announced plans to recruit a further 194 staff at its insurance call centres in Leeds and Pudsey, with vacancies in motoring assistance, customer service, telesales and claims departments.
Card Protection Plan has announced plans to create a further 400 jobs at its Holgate Park headquarters in York.
Longacre Partners is to acquire Lommen, the Swedish corporate finance house, as part of its European expansion programme.
Ward Evans is to create about 12 new jobs in its York-based insurance and financial services business over the next two months, to add to the existing 185.
Kwik-Fit Insurance is to create a further 100 jobs at its insurance call centre in Tannochside, to add to the existing 800.
Halifax is considering plans to set up a third operations centre for its Intelligent Finance internet and telephone banking business in Fife, which could lead to the creation of up to 400 jobs.
Davies Wallis Foyster is to set up a national centre of excellence for high-volume legal transactions in Warrington, which will trade under the name of DWF Maxima and create about 150 jobs.
CGNU is investing £250m in its new Norwich Union internet business, which will involve online banking and wealth management and the creation of 300 jobs in Norwich.
Capita is to acquire McLarens from McLarens Toplis for £33m, in order to provide claims management outsourcing services to the insurance industry.
IFG Group is to acquire Fair Isle Investments, the Fareham-based corporate pensions company, for £3m.
GE Capital is to acquire iGroup, the mortgage lender, for £200m, as part of a strategy to expand its European financial services business.
Bank of Ireland is looking to acquire firms of independent financial advisers to expand its moneyeXtra financial website in the UK.
Halifax is linking up with Nationwide and Alliance & Leicester to acquire a 51% stake in Mortgage Brain of Croydon for £5m, in order to develop a trading platform for financial advisers.
Jones Lang LaSalle is opening a new office in Norwich this month to provide property management services to CGNU, and staff numbers are expected to double to 100 over the next 12 months.
CGNU is to sell its Belgian non-life insurance business to Winterthur of Switzerland for £72m.
Charles Taylor Consulting is to acquire Resolve International, the supplier of insurance underwriting services with offices in London, Paris, Madrid, Barcelona, Brussels and Miami.
Collins Stewart is to acquire the private client advisory business of NatWest Stockbrokers for up to £17m.
Capita is to buy the corporate trustee business of Royal & Sun Alliance for £24m, and will also acquire the remaining 68.5% of the Myshares software business for £2m.
Esure is to set up a customer support call centre in Glasgow for its motor insurance business, with the creation of up to 400 jobs over the next three years.
Abbey National is to acquire Fleming Premier Banking from JP Morgan Chase for £106m, and the business will be integrated with Cater Allen.
Ulster Bank is to set up a £8.3m internet-enabled account management centre at Danesfort in Belfast, with the creation of 210 jobs over the next five years.
Asquith Court Holdings, the Berkhamstead-based operator of nursery and independent day schools, has been acquired by West Private Equity for £66m.
The Funding Corporation is setting up a new financial services business in Chester to provide hire-purchase finance, and expects to create more than 100 jobs.
Shepherd & Wedderburn is planning to create 50 jobs at its law offices in Edinburgh and Glasgow, including 40 lawyers and 10 support staff.
Insinger de Beaufort has acquired English Trust in order to expand its stockbroking and corporate finance business.
Wolters Kluwer of the Netherlands has sold its London-based Financial Training business to management for about £50m.
Royal & Sun Alliance has sold its Swinton insurance broking business to MMA of France for £54m.
Abbey National has bought International Equipment Management, the Dutch aircraft leasing company, from ING for £26m.
Royal Bank of Scotland is to sell the institutional custody operations of NatWest bank to the Bank of New York for undisclosed terms.
Quinn-Direct is planning to set up a new call centre for its insurance business in Enniskillen with the creation of an unspecified number of jobs, but has not yet disclosed the location of the facility.
Amvescap is to acquire Pell Rudman, the Boston-based asset management company, for £139m, in order to expand its wealth management business in the US.
Hiscox is planning to double the size of its retail insurance business over the next five years, in order to reduce its dependence on the Lloyd's market.
Barclays is planning to extend the opening hours at most of its 1,719 branches over the next two years, with the creation of 2,000 jobs.
Begbies Traynor has acquired Huntingdon Moore of Liverpool, in order to move into the Merseyside insolvency and corporate rescue market.
CPP is looking to recruit a further 250 staff at its financial services call centre in York by September, taking the total workforce to 1,000.
Halifax is negotiating a £27bn merger with Bank of Scotland, which will create the fifth largest bank in the UK and enable Halifax to expand further into current accounts and business banking.
HSBC is to expand its call centre operations in Leicester with the creation of 250 jobs, and will move its commercial contact operations to the city over the next 18 months.
Old Mutual is planning to acquire Fleming Offshore Banking, the JP Morgan Chase private banking business that operates from Guernsey and the Isle of Man, for £51m.
Consignia is investing £50m on computer equipment designed to make its system compatible with the Link network of cash machines, which will enable customers to use debit cards at 40,000 post office terminals around the country.
Tenon Group has announced the £59m acquisition of five accountancy businesses in Manchester, London, Edinburgh and the north-east of England.
Aberdeen Asset Management has acquired Celexa, the Swedish property fund management company, for £16m.
PricewaterhouseCoopers has acquired Coba, the specialist due diligence company, for about £7m, in order to create a new strategy group with more than 50 consultants.
Benfield Greig is to acquire EW Blanch of the US for £126m, in order to create an international reinsurance brokerage with about 30 offices and 1,700 staff.
Dunedin Capital Partners has acquired Group Trust, the investment business of Legal & General, for £32m.
Manchester City Council has approved plans for the development of a £30m court complex in the Spinningfield area, which will include 18 court rooms and facilities for 180 staff.
Jupiter Unit Trust Managers is to relocate its administration department from London to Kings Hill in Kent with the creation of about 25 jobs.
Manchester United is planning to extend its range of financial services, and possibilities include pensions, insurance, bank accounts, mortgages and savings.
Kingsbridge is to acquire Stafford Group and The Independent Financial Partnership for £12m, funded by a £19m share placing.
The London Stock Exchange is considering the possibility of relocating to Canary Wharf or a number of other sites in London.
Springboard has acquired Private Capital Exchange, the online corporate finance company, for undisclosed terms.
Credit Suisse First Boston is to sell off DLJ European Private Equity to a new business called Phoenix Equity Partners.
Britannia Building Society is to relocate its mortgage processing centre and up to 70 staff from Hanley to its headquarters in Leek this summer.
Alliance & Leicester is to set up a chain of stores to provide information to people planning to buy or improve homes, with the first two outlets opening in Banbury and Leamington Spa.
Bradford & Bingley is investing £10m in the launch of mortgage broking and independent financial advice centres in its network of more than 500 branches.
CGNU has acquired Mebit, the Hungarian life insurance company, from ABN Amro for £64m.
Collins Stewart is planning to expand its asset management business through acquisitions and organic growth this year, and will invest £1.3m in its Quest online research operation.
Abbey National is to sell its credit card division to MBNA for £289m, but the cards will continue to carry the Abbey National logo and the bank will receive a commission for every account opened.
Financial Training Company, the provider of accountancy training, is to undergo a £50m management buy-out backed by Royal Bank of Scotland.
Goldman Sachs is planning to relocate its J Aron precious metals trading business from New York to London.
Foreign Currency Services, the foreign exchange bureau, is to create 60 new jobs in Stirling following a £2.3m cash injection, and is also setting up an operation in New York.
Donns is to relocate its Manchester-based law firm to larger premises at The Observatory on Cross Street later this month, and is also setting up a £0.25m accident management call centre.
Lloyds TSB is planning to create 500 more jobs at its call centre in Newcastle-upon-Tyne.
Prudential is to acquire American General of the US in a £15bn all-share deal, as part of a strategy to create a global financial services group.
Cattles has raised £39m in a share placing and is planning to open a further 40-50 consumer credit branches this year.
Portman Building Society is to start relocating 500 staff to a new £27m headquarters in Bournemouth in May, while a further 50 new jobs will be created.
Bank of Ireland is to open a new business centre in Edinburgh next month, employing five staff, and is now considering other locations around the UK.
De La Rue is acquiring ATS Money Systems, the US supplier of currency management systems to the retail sector, for £9.7m.
Royal Bank of Scotland is looking to expand its US business by acquiring retail banks in New England, and has also announced that negotiations are taking place for the sale of the former NatWest headquarters in Lothbury.
Amvescap is to acquire National Asset Management of Kentucky for £208m, as part of a strategy to expand its fund management operations in the US.
Hermes Investment Management is to invest £2.5m in Equity.i, the independent research and advice service for quoted companies.
Bank of Scotland is planning to open Scotland's first drive-by bank at a Texaco station near Dunfermline, and is now seeking additional sites.
Millfield is to raise £18m in a flotation on Aim in order to fund the expansion of its independent financial advisory business.
Lloyds TSB has started recruiting more than 250 new staff for its call centre at Tredegar Park in Newport.
Maclay Murray & Spens is planning to merge with Mackay Simon to create a combined Scottish law firm with 57 partners.
Standard Chartered is looking to expand its retail banking and consumer debt operations in the Far East, and has confirmed plans to centralise its back-office processing and customer support functions at two hubs in India and Malaysia.
City Invoice Finance is looking to expand its factoring and invoice discount services into Yorkshire, the East Midlands, London and the south east, and may float the business to raise cash for expansion.
Citigroup has announced plans to expand its European operations from its new London headquarters, and will focus on investment banking, wealth management and credit cards.
Bfinance, the financial services internet company, has raised £22m of second-round funding to develop its technology and strengthen its salesforce.
Lehman Brothers is to relocate the European headquarters of its investment banking business from the City of London to Canary Wharf, having decided against a move to Hackney.
Alliance & Leicester is planning to expand its chain of 309 branches this year, and will also install 1,500 new cash machines.
The Post Office has reached agreement with VIP.com for the installation of vending machines in up to 1,000 branches over the next three years, in order to sell telephone and online payment cards.
Britannia Building Society has acquired Platform Home Loans for £55m, in order to move into the market for non-conforming mortgages.
Baillie Gifford is looking to expand its investment business into continental Europe, and is seeking alliances in Scandinavia, Germany, France, Italy and Spain.
EVC Christows is planning to acquire Evolution Capital of London for £12m, in order to establish a corporate advisory business.
CGNU has sold State Insurance, the New Zealand supplier of personal and commercial insurance, to NRMA of Australia for £125m.
BWD Securities is planning to expand its financial services business into the south of England by forming alliances with independent financial advisers.
Bank of Ireland is to invest £8m in a customer contact centre in Newry, which will begin operations in July 2002 and create 300 jobs.
Bell Lawrie White is to expand its stockbroking business into independent financial planning, and will double the space at its Courthouse Square office in Dundee to cope with the additional workload.
Swinton Insurance has acquired Deansgate Insurance Group of Manchester for undisclosed terms, and 25 of the 35 branches will be closed with the staff transferring to Swinton.
Halifax has announced plans to create a further 400 jobs at its Card Services business in Cardiff this year.
Lloyds TSB has announced plans to set up a new wealth management division called Create, which will enable affluent investors to consolidate all their financial products into a single account.
McClure Naismith has announced plans to move to larger offices in Edinburgh later this year, recruit 40 lawyers and launch new legal services in banking and corporate finance.
Pointon York, the pensions management company, has sold its advisory business to Thomson's Group for undisclosed terms.
Charles Schwab is considering plans to install stockbroking counters in the 314 bank branches of Alliance & Leicester.
Halifax has agreed to acquire the assets of Equitable Life, the mutual life insurer, in a £1bn deal.
Friends Provident has sold its individual savings accounts and unit trust business to Friends Ivory & Sime for £129m, and is now planning to demutualise and seek a listing on the London Stock Exchange later this year.
Arthur Andersen is to acquire the UK division of Xpedior, the US web consultancy, for undisclosed terms, and the business will be renamed Arthur Andersen Digital Solutions.
Northern Rock is to create 250 jobs at new administration headquarters in Gosforth and Sunderland this year.
TD Waterhouse is linking up with Charles Schwab to acquire Aitken Campbell, the Glasgow-based marketmaker, from Abbey National for £60m.
Skandia Life is to create up to 450 jobs in Southampton this year, as it prepares to move into a new office at Liberty House in Commercial Road.
Next has sold Clydesdale Financial Services, its consumer credit business, to a management buy-in backed by Barclays Private Equity for £108m.
JP Morgan, the investment bank, is planning to recruit 100 software engineers at its technology centre in Glasgow this year, and a further 120 jobs are planned at its accounting subsidiary in Edinburgh.
WILink.com is expanding its financial information business by acquiring Andersson & Nilsson of Sweden and Informed Investors of the US for a total £7m, while its David Conrad garments business is being sold to management for £1.4m.
Abbey National is to relocate a customer service centre from Milton Keynes to Bradford, where it will create about 200 jobs.
Axa Insurance is to create 60 new jobs at a call centre in Morecambe over the next few months.
Pinsent Curtis is planning to merge with Biddle to create a combined law firm with 518 lawyers.
Lehman Brothers, the investment bank, is considering plans to build a new £80m corporate headquarters at Northgate in Hackney.
Cox Insurance has expanded its network of Argent retail branches with the acquisition of Doncaster-based Bourne Swann for undisclosed terms.
Marsh is planning to create a further 100 jobs at its insurance office in Norwich.
Axa Insurance is to create up to 200 new jobs at its Severalls Lane Industrial Estate call centre in Colchester.
CGNU is to set up a new Norwich Union regional sales office in Aberdeen, after restructuring its existing regions in Glasgow and Edinburgh.
Tenon Group is planning to raise up to £75m in a rights issue in order to expand its accountancy business into support services and human resources.
CGNU has sold two Canadian operations for a total £133m, with Manulife Financial acquiring Commercial Union Life Holdings and American International Group acquiring Norwich Union Holdings (Canada).
Foreign & Colonial, the fund manager, has been acquired by Eureko following the sale of Hypovereinsbank's 90% stake for £414m, and Eureko is planning to create a leading pan-European asset management business under the F&C brand.
Equitable Life has sold its Permanent Insurance division to Liverpool Victoria Friendly Society for £150m.