Barclays Finance Chief Resigns Earlier on Health Reasons

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August 17, 2013 by apicomely

Bricks and finance shortages frustrate British housing hopes

Morzaria, the executive hired last month from JPMorgan Chase & Co., will join the board on Oct. 15, Barclays said. Lucas, who had initially planned to retire in February, cited his health as a key factor behind his decision. I want to do the right thing by Barclays, my family, and myself, and therefore I have reached the difficult decision to step down sooner, Lucas said in the statement.

ING Real Estate Finance Announces Sale of USD 1.6 Billion of U.S. Commercial Real Estate Loans to Wells Fargo Bank, N.A.

The agreement further strengthens ING’s capital position as ING Real Estate Finance focuses its activity in its core markets. The company announced in September 2012 that it would manage down its U.S. property-lending business. “This divestment is a result of the successful execution of our strategy to capitalize on current robust U.S. market conditions to generate strong interest in the loan portfolio among a high-quality pool of potential buyers,” said Michael Shields, Managing Director and Head of ING Real Estate Finance Western Europe, UK, USA and Structured Products.

Barclays CFO Chris Lucas

Osborne and his department, the Treasury, have also not said how many more homes they want built under the scheme. Its second phase, in which the government will guarantee loans for people buying second-hand homes, will start in January. “There are a lot of other obstacles that the government is not only not overcoming but in some respects is making worse,” said Roger Humber, strategic policy adviser to lobby group House Builders Association. LONG WAITING TIMES Stone’s lengthy wait shows how building materials makers, such as Wienerberger, Michelmersh and HeidelbergCement’s UK arm Hanson, also retrenched in Britain and continental Europe.


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