Credit Suisse CEO Thomas Gottstein said Tuesday that he expects the firm’s wealth management business to slow down in the third quarter and bank consolidation to continue in Europe as the economy seeks to recover from COVID-19.
A co-creator of Facebook’s experimental digital currency Libra is leaving the project before it fully launches to become a general partner with the venture capital firm NFX.
A special-purpose acquisition company backed by private equity firm Apollo Global Management disclosed in a filing Wednesday that it is seeking to raise $750 million through its initial public offering, a move amid a significant jump this year in activity for such investment vehicles.
A high-level Citigroup employee was placed on paid leave after he was revealed to be the operator of a popular website dedicated to the QAnon conspiracy theory, a bank spokesperson told Fastinform on Thursday.
The world’s largest banks are better equipped to handle the current crisis than the rest of the sector as a result of regulation and restructuring imposed after the 2008 financial crisis, Moody’s said Thursday.
The Facebook-backed Libra Association said on Thursday that it appointed former HSBC executive James Emmett as the CEO and managing director of Libra Networks, the unit tasked with developing and operating the company’s cryptocurrency payments system.
AEA Investors and Bridges Fund Management are launching a blank check company in hopes of raising $400 million for environmental, social and governance-focused investment purposes.
Miami International Holdings will debut its first cash equities exchange later this month in an increasingly crowded field, with trading firms including UBS, Citadel Securities and Hudson River Trading as investors.
Switzerland’s two largest banks are considering joining forces to create one of Europe’s largest banks, according to a report from Swiss finance blog Inside Paradeplatz, as the financial industry looks for ways to shore itself up for a post-pandemic world.
Goldman Sachs is in talks to take full ownership of its Chinese securities joint venture, Chinese news site Caixin reported on Thursday, making it the latest major player to try to take advantage of China opening up its financial sector to foreign firms.
The San Francisco Open Exchange has launched a crypto dark pool, a platform the company said will attract more institutional investors to the market by removing obstacles to trading large crypto volumes.
Credit Suisse is aiming to become a major digital banking player in Switzerland, with plans to launch a pair of new apps at the end of October that will offer services including totally digital wealth management, as the lender looks to cut costs and grow its younger client base.
An effort backed by UBS, Barclays, Banco Santander and a dozen other major banks to speed payments using digital coin equivalents of major currencies has been delayed until 2021 due to regulatory issues, according to Reuters.
Credit Suisse has won a bid to delay the release of a report on the bank’s failure to detect the high-profile fraud and money laundering by its former employee, Patrice Lescaudron, to his former clients, Bloomberg reported Wednesday.
A Swiss financial market regulator revealed that Credit Suisse may have monitored two additional employees in Asia and the U.S., as part of its ongoing investigation into Credit Suisse's spying scandal.
The U.S. Federal Reserve has corrected stress test results for five of the country’s largest banks after discovering an error in projected trading losses, decreasing the capital requirements for Goldman Sachs and Morgan Stanley as a result.
Creditors of embattled Virgin Australia on Friday “overwhelmingly” voted to approve the airline’s AUD 3.5 billion ($2.5 billion) sale to U.S. private equity firm Bain Capital, administrators for the country’s second-largest airline said, despite unsecured creditors getting very little of their money back.
JPMorgan Chase reportedly has first right to buy a 20% stake in its Chinese securities joint venture for CNY 177.7 million ($26 million), bringing the bank closer to gaining full control of the company as China opens up its financial market to foreign firms.
Wells Fargo was hit with a negative outlook by Moody’s on Thursday in light of the bank’s slower-than-expected pace of resolving its “myriad” compliance, oversight and risk-management problems.
Canadian payment processing company Nuvei said it hit profitability in the second quarter, along with posting strong increases in revenue and merchant volume, as it prepares for an initial public offering.