Credit Suisse is preparing to lay off half of its mainland China investment banking team, according to Chinese business publication Caixin, after saying earlier this week it is looking to fully acquire its Chinese securities joint venture and expand its presence in the market.
Credit Suisse said it’s eyeing full ownership of its Chinese securities joint venture just one month after claiming a majority stake in the entity, as the lender looks to expand its presence in China.
The Bank of China’s Malaysian outpost has begun using a QR code payment option for customers around the world who use the bank’s app, reflecting the current high demand for digital services as well as the bank’s continued interest in the Southeast Asian country.
Bank of America will begin the process of bringing its 185,000 employees who have been working from home back into the office after Labor Day, Sept. 7, a spokesperson said Tuesday.
Unione di Banche Italiane on Tuesday fired back at larger rival Intesa Sanpaolo, further escalating the tension between the two banks over the latter’s takeover bid, saying once again that the offer does not sufficiently benefit the smaller institution’s shareholders.
Turkey’s stock exchange barred six major banks from betting against its market on Monday, the latest restrictive measure taken in the country against investors looking to short sell.
Credit Suisse said on Thursday that it will add Google Pay to the mobile-payments lineup for its credit card users, noting that adoption of digital payment technology in Switzerland has grown significantly amid the COVID-19 pandemic.
Former Bridgewater Associates co-CEO Eileen Murray will be the new chairwoman of the Financial Industry Regulatory Authority, putting one of the hedge fund industry’s top female executives in charge of a key Wall Street regulator, the group said Tuesday.
Intercontinental Exchange Inc., the parent company of the New York Stock Exchange, said Monday that Credit Suisse is the latest financial firm to join its platform to support primary market activities for exchange traded funds.
New York private equity firm Apollo Global Management and insurer Athene Holding have provided $500 million in capital to real estate investment trust MFA Financial, marking the latest in a streak of deals by the private equity giant amid the pandemic.
China’s securities regulator is planning to grant securities licenses to commercial banks as part of a wider effort to help domestic businesses compete with foreign rivals, Chinese business news site Caixin reported on Sunday.
Deutsche Bank plans to boost the efficiency of messaging between its clients and employees by integrating the popular WhatsApp chat platform into its communication channels through an expansion of its partnership with Symphony Connect Solution, the bank said Thursday.
Swiss lender Credit Suisse named a chief executive officer to lead its new Saudi commercial banking business as it seeks to further establish its presence in the country.
Credit Suisse is conducting an internal review of a series of funds that invested in the debts of startups backed by SoftBank, a week after it was revealed that the Japanese technology firm had also invested money in those funds.
Credit Suisse said Tuesday that it has reached an agreement that will allow for it to buy preferred shares in modalmais, a fast-growing Brazilian digital bank, adding that the deal will let it purchase a stake in the company for the equivalent of up to 35% of its capital.
Credit Suisse will delist nine exchange-traded notes worth a total of nearly $3 billion, including a closely watched volatility ETN that produced extraordinary returns in March, the bank reported in a Monday release.
Despite facing challenges with credit quality and wealth management, UBS and Credit Suisse are poised to handle the tough economic climate brought about by the COVID-19 pandemic, the Swiss National Bank said in a report released Thursday.
Komainu, a new custodian to vet and safeguard digital assets for financial institutions created by Nomura Holdings, CoinShares and Ledger, named four top executives on Wednesday, providing substantial traditional banking expertise to the venture as it prepares to begin doing business.
Credit Suisse Asset Management’s fintech equity group NEXT Investors is combining two of its existing portfolio companies into a new platform, Portfolio BI, which provides enhanced tools for portfolio managers.
SoftBank Group has put more than $500 million into Credit Suisse investment funds that help finance the debt of startups backed by the Japanese technology conglomerate’s Vision Fund, the Financial Times reported Sunday.