EU covered bond issuance to drop due to more stimulus, fewer mortgages: S&P

September 18, 2020.
New issuances of covered bonds in Europe, where they are most common, are expected to fall in the second half of 2020, as central bank stimulus provides a competitive new source of funding for banks, S&P Global said.

Euronext, CDP Equity in exclusive talks with LSEG to acquire Borsa Italiana

September 18, 2020.
Euronext and CDP Equity revealed Friday that they are now in exclusive talks with the London Stock Exchange Group to acquire Borsa Italiana, Italy’s only major stock exchange, which was sought after by two other bidders.

Sumitomo Mitsui admits its shareholder vote-counting problems may go beyond Toshiba

September 18, 2020.
Sumitomo Mitsui Trust Bank said on Friday that the vote-counting problems found at Toshiba’s annual general shareholders’ meeting, which was held in July, may have occurred at other companies as the bank used the same tallying procedures.

Citi’s ESG fund makes its debut investment in biofuel, employment startups

September 18, 2020.
Citigroup, the third-largest U.S. bank by assets, said Friday that its new environmental, social and governance investment fund has put money into four startups focusing on sustainability initiatives.

Citi to hire 6,000 in Asia to combat youth unemployment

September 18, 2020.
Citigroup said on Friday that its Asia Pacific arm will be offering 6,000 jobs to young people in the region over the next three years, as youth unemployment figures rise amid the COVID-19 pandemic.

Troubled Swedbank faces new money laundering probe by Swedish regulators

Last modified September 18, 2020. Published September 18, 2020.
Swedbank acknowledged on Friday that it was subject to a new investigation from Sweden’s financial watchdog regarding violations in connection to suspected money laundering and other financial market abuse.

CaixaBank, Bankia to merge, creating Spain’s largest bank

Last modified September 18, 2020. Published September 18, 2020.
The boards of directors of Spanish banks CaixaBank and Bankia approved a merger plan between the two, the banks said Friday, which will create the biggest lender in the country, with more than EUR 664 billion ($788 billion) in total assets.

Citigroup IT director who ran popular QAnon conspiracy site placed on paid leave

September 17, 2020.
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.

Bank of Japan keeps rates steady as country’s economy begins to pick up

September 17, 2020.
Although the COVID-19 pandemic is still having an effect, Japan’s economy has begun to pick up as business gradually resumes, the nation’s central bank said Thursday after deciding to keep interest rates unchanged.

Bank of England warns of ‘unusually uncertain’ economy, mulls negative rates for future

September 17, 2020.
The Bank of England said Wednesday it will leave interest rates unchanged as the outlook for the economy remains hazy amid continued concerns about the coronavirus and Brexit, but left the door open to move to negative rates if things decline.

PIMCO adds ex-central bank chief Mark Carney to global advisory board

Last modified September 16, 2020. Published September 16, 2020.
PIMCO, the eighth-largest U.S. asset manager, has tapped former central bank veteran and climate finance specialist Mark Carney to join a team of high-profile advisors helping to inform the firm’s investment decisions.

UBS unveils cross-asset suite of climate-focused strategies

September 16, 2020.
Swiss bank UBS will offer five new climate-oriented strategies aiming to reduce the carbon footprint of their funds’ investments as its clients grow more climate-conscious, the lender said Wednesday.

Handelsbanken to close nearly half its Swedish branches, cut jobs as it increases digital offerings

September 16, 2020.
Swedish bank Handelsbanken said Wednesday that it expects to close about 180 branches in Sweden by the end of 2021 and to eliminate about 1,000 employees in Sweden over the next two years, as it increases its focus on its digital offerings for customers.

Julius Baer in talks with DOJ to settle 2015 FIFA money laundering case

September 16, 2020.
Private Swiss bank Julius Baer said it is in “advanced discussions” with the U.S. Department of Justice to resolve a money laundering and corruption probe regarding the world soccer governing body FIFA.

Truist debuts venture capital division by leading funding round for fintech Veem

September 16, 2020.
Truist Financial launched its corporate venture capital division on Wednesday, which debuted alongside a new deal with global payments fintech Veem to help power new partnerships and investments for its corporate clientele.

Goldman Sachs appoints first female leader for investment banking services

September 16, 2020.
Kim Posnett will co-lead Goldman Sachs’ global investment banking services unit, the bank revealed in an internal memo, making the veteran of the New York institution the first woman to hold the role.

Australia’s central bank promises to keep credit costs low amid COVID-19 turmoil

September 15, 2020.
Australia’s central bank said it would “maintain highly accommodative settings as long as required” in order to support the nation’s recovery from the coronavirus-related economic downturn.

JPMorgan trims net interest income forecast for 2020 but eyes revenue offset

September 15, 2020.
JPMorgan Chase, the largest U.S. bank by assets, cut projected net interest income for 2020 while pointing to signs that offsetting business increases could see it through the current stretch of low loan growth.

CORRECTED: Bank of Montreal expands sustainable lineup with launch of four new retail funds

September 15, 2020.
BMO Investments launched four new sustainable funds, creating new options for retail investors interested in low-risk sustainable investing, as it catches up on the surging environmental, social and governance trend. Correction: A previous version of this story misstated the number of BMO's existing sustainable funds and the total assets BMO Financial Group had under management. The errors have been corrected.

Citi to resume job cuts put on hold for pandemic

September 15, 2020.
Citigroup will be resuming staffing reductions starting this week, joining other global firms in ending a pandemic-induced pledge to pause job cuts, as the bank commits to investing heavily in its risk and control functions to satisfy regulators.