Workplace pension scheme members are losing around £1.7bn a year during their transition into retirement due to choosing costly pathways to access their savings, according to a new report.

Former HSBC global head of strategy Chirantan Barua has been appointed as the new CEO of insurance, pensions and investments provider Scottish Widows.

Quintet Private Bank, the owner of Financial Planner and wealth manager Brown Shipley, has appointed experienced HSBC executive Chris Allen to be its new group CEO. 

The FCA has fined HSBC Bank plc (HSBC) £63.9m for long-term failings in its anti-money laundering processes.