Business correspondent and personal finance editor since 1998, four times Scottish financial writer of the year, and once journalist of the year. Likes bringing business personalities to life, responding to unhappy consumers, and investigating bust businesses and the murkier corners of money. Highly commended in the 2013 UK Regional Press Awards.
Interest rate swap agreements (IRSAs), promoted by banks to small businesses as a protection against rising interest rates, were part of a sales bonus structure designed to maximise bank profits, a former high-flying salesman has disclosed.
Hundreds of Scottish small businesses are among those damaged by IRSAs.
Today, the controversy will be debated in the Commons after pressure from 100 MPs, ahead of an imminent review by the Financial Services Authority.