Julius Baer reached a deal with the U.S. Department of Justice on Monday, following months of investigations into the private Swiss bank’s involvement in a money laundering and corruption scandal with FIFA, the world soccer governing body.
Charles Schwab, TD Ameritrade and Merrill Lynch brokerage clients reported service outages on Monday as news of coronavirus vaccine developments sent stocks soaring to all-time highs.
Centene said Monday it has entered into an agreement to acquire health care analytics company Apixio in a move that will provide the health insurer with artificial intelligence options to add to its technology lineup.
AccessFintech, a startup that specializes in supply chain management for financial firms and is backed by several major banks, said Monday that it is teaming up with investor Goldman Sachs to offer a service meant to make the cash settlement of derivatives more convenient.
The success or failure of meeting the United Nations’ Sustainable Development Goals will ultimately fall on the financial industry, though the increasingly mainstream nature of sustainable investing has pushed the industry in the right direction, Bank of America CEO Brian Moynihan said Monday.
French investment bank Société Générale said Monday that it was embarking on “several organizational adjustment projects” that are expected to lead to the elimination of 640 positions, the latest step in its cost-reducing plan for the next two years.
Crédit Agricole’s corporate and investment bank and its wealth management unit are joining forces to create a new private investment banking division to target the ultra wealthy, France’s second-biggest bank said Monday.
Paysafe Group, a payment services company backed by private equity firms Blackstone and CVC, is in talks to combine with a special purpose acquisition company supported by dealmaker Bill Foley, Bloomberg reported on Friday.
BBVA’s Turkish unit is rolling out several new mobile banking features including a gold investment function, the nation's second-largest private bank said on Friday, as customers seek to protect their savings from rising inflation.
The Carlyle Group reacquired a majority stake in Manna Pro Products from investment funds managed by Morgan Stanley Capital Partners, after selling its holdings in the pet care company to the investment bank in 2017.
Bloomberg on Thursday unveiled the first index geared towards liquid Chinese corporate bonds with investment-grade ratings, a development that comes as it is poised to complete a 20-month transition to add Chinese government and policy bank debt to its Global Aggregate Index, which is a flagship fixed-income benchmark.
A BNY Mellon executive warned that fund managers may not be doing enough to reflect environmental, social and governance-related missions in sustainable investments, and should do more to demonstrate those values to clients.
Japan unveiled plans Friday to create an English-speaking support office to usher foreign asset managers into the country, as part of its broader efforts to become the main global financial center in Asia.
Deutsche Bank has hired nearly 30 people away from Standard Chartered in recent months in a bid to bolster its wealth management unit in China, a spokesperson for the German bank said on Friday, making it one of several firms to focus more on the space as China opens up its financial sector.
Standard Chartered will soon provide employees in several markets with greater flexibility in working patterns and locations, the U.K.-based bank said Friday, implementing lessons learned during the coronavirus pandemic to create a hybrid workforce of remote and office-based employees.
Some mutual funds in India will be allowed to invest more freely in stocks of all sizes through the introduction of a new fund category by the country's securities regulator, which comes after a lobbying efforts by the investment industry to ease restrictions.
Executives at Bain Capital during a conference call Friday highlighted “significant improvements” in finances that would prepare it for strong future performance, even as the U.S. private equity firm’s investment activity fell to its lowest in years during the pandemic.
Wealthy Chinese businessman Guo Wengui is suing Swiss investment bank UBS in London in an attempt to reclaim $500 million he lost after the bank called in a margin loan in 2015, Bloomberg reported Friday.
Goldman Sachs plans to move up to $60 billion in assets from the U.K. to its German subsidiary by 2021 as global banks scramble to anchor themselves to a new European financial hub ahead of Brexit, Bloomberg reported.
The U.K.’s largest commercial lender Lloyds Bank and London-based working capital fintech Demica said Friday that they teamed up on a new supply chain finance platform for Britain’s businesses, as such projects pose increasing appeal during the COVID-19 pandemic.