Speaking at Investment Week Summit
European bond funds suffered €433bn outflows in 2008
Financial services has witnessed a number of famous apologies over the years linked to fraud, rogue trading, and even train fare dodging. Investment Week remembers the most notable, and the ones which never were.
The government has been told it can sue French banking giant Societe Generale for allegedly mis-selling financial products to Northern Rock that were partly to blame for UK lender's collapse.
Northern Rock Asset Management is to compensate customers who took out loans with the bank a share of £270m, following errors made in paperwork.
The Treasury was too slow in nationalising Northern Rock during the height of the financial crisis, one of its top civil servants has said.
Outgoing Financial Services Authority (FSA) chief Hector Sants has claimed the run on Northern Rock could have been avoided if the central bank had taken on board his recommendations.