Morgan Stanley hires ex BofA banker Rizzo to drive European client push
Morgan Stanley hired former Bank of America banker Luigi Rizzo for a new client-facing role overseeing a drive to win business from a wide spectrum of companies across Europe, the Middle East and Africa (EMEA). Rizzo was at the helm of Bank of America’s European corporate and investment banking. He quit over there in late […]
BoE says stablecoin payments need same rules as banks
The Bank of England said that payments with ‘stablecoins’, which is a form of cryptocurrency usually pegged to a traditional currency, should be regulated in the same way as payments handled by banks if they start to become widely used. The central bank also said that it had made no decision about whether to issue […]
Euro zone at a turning point but too early to debate end of ECB help: Lagarde
The euro zone economy is at a turning point. ECB President Christine Lagarde told Politico in an interview that its recovery must be firm and sustainable before the European Central Bank can debate clawing back emergency support. The ECB had agreed to maintain an elevated pace of bond purchases. This is to keep borrowing ultra-low […]
Singapore Central Bank reprimands insurers AIA, Aviva and Prudential
Singapore’s central bank said that it has reprimanded the local businesses of insurers AIA, Prudential and Aviva for breaching requirements related to risk management and supervisors’ pay. The Monetary Authority of Singapore (MAS) said that its investigations found numerous instances where remuneration was paid to supervisors. And that is over sales of investment products and […]