Deutsche Bank set to face suit over Epstein & Russian oligarch ties
Deutsche Bank AG (DBKGn.DE) is under fire for its recent blunder, where it reportedly had swept shortcomings under the rug while signing deals behind closed doors with notorious, perilous billionaires like Jeffrey Epstein, and similarly politically sensitive Russian oligarchs. The case is Karimi v. Deutsche Bank Aktiengesellschaft et al, at the U.S District Court—Southern District […]
Blockbuster 2021 reels in Global investment banking for the recovery year
The pandemic was devastating to major economies, there is no mistaking that. Markets saw it strike first-hand as the stock prices plummeted devastatingly low and the revenue at global investment banks was more slow than gradual, all routes clogged due to the gravity of the situation. Apart from that event spanning through countless economic shattering, […]
Shares of European banks plummet after Credit Suisse spikes a financial loss caution
Investors in Europe fear drought and regret as Credit Suisse alerts to a dreadful 6% slide, ensuing later is a warning issued on unstable financial assets dropping on the lenders. Interestingly, the European Central Bank has called for a meeting on Thursday to aid the investors in their wager, with the U.S Federal Reserve scheduled […]
JP Morgan shareholders vote disapproval of CEO Dimon’s special payout
In an unusual rebuke for Jamie Dimon, CEO of JPMorgan Chase & Co, shareholders clearly disapproved of the special $52.6 million stock option award directors gave him last year to stay on the job for at least five more years. In an advisory say-on-pay referendum, only 31% of votes cast endorsed JPMorgan executive payments for […]
Swiss press freedom dealt blow in bid for overhaul of bank secrecy rules
Lawmakers blocked a bid to overhaul strict Swiss banking secrecy rules in a blow to freedom of information advocates seeking an exemption for journalists and whistleblowers. Switzerland has been under fire over its press freedom rules after a law introduced in 2015 led a leading media group, Tamedia, to bow out from an international investigation […]
Intesa CEO says committed to 2022-2025 plan’s goals
Intesa Sanpaolo Chief Executive Carlo Messina said that he remained committed to hitting targets set under the Italian bank’s business plan through 2025 after being appointed for another term. Shareholders named a new board at Italy’s biggest bank. Messina stated that the strong shareholder support and the board’s decision to confirm my role as chief executive […]
Goldman, JPMorgan among banks left holding Russian stocks
A decision by FTSE Russell and MSCI to remove Russian stocks from their indexes has left some of the world’s largest banks inadvertently holding potentially valuable positions. JPMorgan Chase, Goldman Sachs, HSBC, BNP Paribas and other global banks have had to move Russian stocks and related derivative positions that they had taken to support bets […]
Banorte wants to lead Mexicans
Mexican banking institution Banorte will invite Mexicans to recover Citigroup’s retail unit in the country. This is set to go up for sale in coming months, if Banorte decides to go forward with the purchase. Mexican President Andres Manuel Lopez Obrador said that he hopes to see investors Mexicanize the unit, still commonly known as Banamex, its […]
Britain’s HSBC firms up climate pledge after activist pressure
Britain’s HSBC toughened its climate commitments and pledged greater openness about its progress. This is after pressure from activists who said that they would now withdraw a resolution slated for its next shareholder meeting. HSBC said that it would cut financing to the fossil fuel industry in line with the goal of capping global warming at […]
Lloyds CEO shakes up bank after strategy launch
Lloyds Banking Group CEO Charlie Nunn has begun a shake-up of the lender’s top team. The internal structure as he looks to implement a strategy unveiled last month. The bank will split its three units into five as part of the plan. This is shown in an internal memo. Nunn, a former HSBC executive who […]