The Facebook-backed Libra Association said Thursday it appointed financial services veteran Ian Jenkins to the dual roles of chief financial officer and chief risk officer for the unit tasked with overseeing its planned crypto payments system, as the group continues to prep for a full launch.
HSBC’s U.S. subsidiary revealed plans to launch a new managed portfolio that invests in global companies that have a leading presence in the digital innovation space, as the bank looks to help investors take advantage of the sector's accelerated growth due to the global pandemic.
Ping An Group, the top shareholder of HSBC, has lifted its stake in the bank to 8% as the U.K. lender continues its pivot to China, a strategy which has drawn scrutiny from Western politicians amid rising political tensions.
Former HSBC Chief Operating Officer Andy Maguire has joined cloud banking technology company Thought Machine as chair of the company’s board, the London-based startup said Wednesday, following the company’s $125 million Series B funding round.
Bank of America has wooed Zhang Wenjie, a former HSBC mainland China executive, to join as a managing director and president of China, the South China Morning Post reported Monday, a departure that comes as HSBC has made the country the cornerstone of its growth strategy.
A federal judge in Australia allowed an Australian bank payments consortium to move forward with its case against U.S. payment settlement startup Ripple Labs over the alleged misuse of its registered trademark, according to a court order unveiled Tuesday.
Belgian prosecutors have launched an investigation to see if Credit Suisse helped around 2,650 Belgian residents and clients hide their money from tax authorities.
HSBC Global Asset Management launched its fifth exchange traded fund on Thursday with an offering for Asia Ex-Japan, building on a lineup that it initially rolled out in June.
HSBC’s U.S. affiliate debuted an app that will allow bank customers to open U.S. checking accounts remotely from anywhere in the world without needing to visit a bank branch in person.
Taiwan plans to continue opening up its economy with the intent of becoming an Asian financial hub, President Tsai Ing-wen said Wednesday, as Hong Kong’s future as a global financial center hangs in the balance because of increased pressure from mainland China.
State Street has opened its first office in Saudi Arabia and hired away an executive from emerging markets investment specialist Ashmore Group to oversee its operations in the kingdom, the U.S. asset manager said Thursday.
Democrats in the House and Senate banking committees unveiled legislation on Wednesday that would make unprecedented changes to the mission of the U.S. Federal Reserve, creating a mandate to reduce racial disparity across the economy.
The European Banking Authority said it will begin stress-testing banks in January after plans to launch an inquiry into the financial system’s vulnerabilities were scrapped earlier this year due to the coronavirus pandemic.
HSBC has refuted claims published in Chinese state-run media that the bank set up telecom giant Huawei, which is facing a U.S. Department of Justice probe, as the lender finds itself again caught between China and the West amid rising tensions.
The Bank of France chose eight finance businesses to test central bank digital currencies to improve payments between banks, following months of exploration by the country into a digital alternative to paper money.
U.K. lender HSBC on Tuesday launched a new reporting service designed to give institutional investors and their asset managers independent measurements of the environmental, social and governance performance of their large holdings.
Standard Chartered is deepening its ties to China with plans to invest HKD 310 million ($40 million) to set up a new center in Guangzhou, as Beijing aims to transform the coastal Greater Bay Area region into an international financial hub.
Barclays is launching a digital adviser that will manage funds for customers who invest as little as GBP 5,000 ($6,280), a move the bank said Tuesday gives less-affluent clients access to services that were previously only available to the wealthy.
Investment firm Schroders plc said on Monday that it has launched a new funds lineup called Schroder Portfolios, with six funds that follow a “multi-managed, multi-asset investment approach” and include a mix of active and passive components.
HSBC said Thursday that a digital version of the Chinese yuan, which it suspects will launch soon, could improve China’s payment systems and put the nation at the forefront of digital currency development.