Latest news with #JamesBennett
Finextra
21 hours ago
- Business
- Finextra
Offshore bank Aston granted banking license
Guernsey's last locally-based bank ceased trading in 1996, making Bank Aston the first to be licensed by the Guernsey Financial Services Commission (GFSC) for almost thirty years. 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Bank Aston will serve offshore trustees, investment funds and family offices across the Channel Islands financial services industry and has been established to offer a more efficient banking process. Having obtained its licence, Bank Aston will move into the build phase of the bank with the intention of launching in 2026. It will then begin taking on accepting deposits from institutional clients while rolling out its full product offer. To support the launch, Bank Aston has appointed Kevin Brown as chairman, a senior leader with experience at Royal Bank of Scotland, Bank of England and FCA; and Paul Gorman as CEO, who spent 20 years in senior management roles in corporate and investment banking, including at Barclays and Santander. James Bennett, Bank Aston co-founder, explains that: "Banking is becoming a huge problem for offshore institutions. They face increasingly slow approvals, poor customer services and eye-watering fees with decisions being taken remotely by legacy banks whose risk appetite is steadily declining. This has resulted in more and more institutions being forced onshore which increases inefficiency, adds unnecessary risk and takes revenue away from the islands." Guernsey resident, Jay Goss, co-founder, Bank Aston, says: "Few people realise the seriousness of the situation. The difficulties with onboarding and running accounts is starting to impact the whole industry. But there is an opportunity as well. We see Bank Aston as a commitment to Guernsey's future and to ensuring the island remains relevant, resilient and ambitious on the global financial map." Kevin Brown, Bank Aston chairman, adds: "I don't think you can over-emphasise how important it is to the offshore financial community to have their own banking champion. We think Bank Aston has the potential to transform the entire offshore financial system."
BBC News
2 days ago
- Business
- BBC News
New offshore bank to launch in Guernsey
A Guernsey-based bank has received authorisation from finance industry officials to launch a new offshore said after getting a banking licence from the Guernsey Financial Services Commission that it expected to begin taking deposits in the second quarter of finance sector remains Guernsey's largest sector of employment activity and earnings, according to the States of Guernsey, add about £1.2bn to the economy, equating to 44% of the island's economic co-founder Jay Goss said the bank was a "commitment to ensuring the island remains relevant, resilient and ambitious on the global financial map". Aston Bank co-founder James Bennett said banking was "becoming a huge problem for offshore institutions"."We're building a bank that's faster, simpler, and more aligned with the needs of the offshore market," he leadership team includes chairman Kevin Brown, a veteran of the Bank of England and Royal Bank of Scotland; and chief executive Paul Gorman, formerly of Santander and Barclays, said Aston Bank.
Yahoo
2 days ago
- Business
- Yahoo
Bank Aston to be first locally licensed Guernsey bank in 30 years
Bank Aston has secured a banking licence from the Guernsey regulator that will make it the first locally licensed bank in the jurisdiction within 30 years. Bank Aston positions itself as a specialist provider for offshore trustees, investment funds, and family offices, which are key sectors in the Channel Islands' financial services industry. The firm is hoping to reinvigorate the offshore sector, which has £800bn in assets under management and £250bn in bank deposits in the Channel Islands alone. Guernsey Financial Services Commission (GFSC) has granted it 'Licensed with Conditions,' which is subject to conditions during Bank Aston's launch phase. The bank will begin accepting institutional deposits and roll out its complete range of services once fully licensed. Guernsey's last locally-based bank ceased trading in 1996. James Bennett, co-founder of Bank Aston, said: 'Banking is becoming a huge problem for offshore institutions. 'They face increasingly slow approvals, poor customer services and eye-watering fees with decisions being taken remotely by legacy banks whose risk appetite is steadily declining.' Bank Aston said it would streamline the onboarding and service delivery process through leveraging advanced technology. The firm added its deep knowledge of the offshore market would allow it to service consumers 'more quickly and competitively than is currently the case'. Brown has 40 years' experience including stints at the Financial Conduct Authority, Payment Systems Regulator and Bank of England. He is also a board member and founding investor of fintechs OneiD and Form3. Co-founder Jay Goss said: 'Few people realise the seriousness of the situation. The difficulties with onboarding and running accounts is starting to impact the whole industry. 'But there is an opportunity as well. We see Bank Aston as a commitment to Guernsey's future and to ensuring the island remains relevant, resilient and ambitious on the global financial map.'
AU Financial Review
20-05-2025
- Business
- AU Financial Review
Booktopia's new owner swoops on library supplier James Bennett
Last year, consumer electronics business digiDirect expanded into book retailing after snapping up Booktopia, the collapsed industry giant that had once been listed on the ASX and valued at more than $400 million. Now it's adding another business to its growing book retailing division, buying James Bennett, a specialist in supplying to local libraries. The Sydney-headquartered James Bennett has been owned by American library supplier Baker & Taylor since 2009 and has around 130 employees.
Yahoo
16-04-2025
- Yahoo
Four arrested in ‘large-scale' copper theft operation in Duval, Bradford counties
A call from AT&T to Jacksonville Sheriff's Office back in December 2024 prompted an investigation into what authorities called a 'large-scale' copper theft investigation. The company contacted JSO to report damaged cable wires and widespread service outages, according to a Bradford County Sheriff's Office news release. >>> STREAM ACTION NEWS JAX LIVE <<< 'Detectives soon uncovered a pattern of copper theft involving utility poles in Duval and Bradford counties,' the release states. Through collaborative investigative efforts, including surveillance footage, tag reader data, and recovered physical evidence, law enforcement was able to identify the suspects and their vehicle — a 2006 Ford F-150." Authorities said the suspects would cut copper wire from poles, process it and then sell it to scrap yards under false pretenses. [DOWNLOAD: Free Action News Jax app for alerts as news breaks] Arrested were Archie Crook, James Bennett, Leslie Bennett, and Corttney Kowalski. Each were booked into the Bradford County Sheriff's Office on one count of Theft of Copper that Interferes with Communication Services, a first degree felony, the news release states. The suspects are accused to have caused more than $400,000 in damages across Northeast Florida, 'while profiting only a fraction of that amount from scrapped copper,' the news release states. Read: Over 700 grams of cocaine seized, man arrested as part of a Bradford County Sheriff's Office drug raid Read: Brunswick woman convicted in stabbing at 1 year old's birthday party Read: St. Johns County drug bust nets three arrests, 4 pounds meth, 5 pounds marijuana, cocaine, MDMA, gun [SIGN UP: Action News Jax Daily Headlines Newsletter] Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.
