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.
Julius Baer said Friday that it is creating a new unit for direct private investments for its ultra-wealthy clients, with the new division’s head joining from Switzerland’s largest bank, UBS.
Financial authorities should nail down rigorous plans to smooth the transition away from the world’s most widely used interest rate benchmark, two major global regulatory bodies cautioned on Thursday.
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.
DBS’ Hong Kong business tapped Peter Tung, a veteran of Morgan Stanley and UBS, to head its private banking unit for greater China as financial firms compete for growth in a cooling market.
Australia’s banks will extend loan repayment deferrals for up to four months to help consumers struggling to pay off their debt through the coronavirus pandemic and to avoid a “cliff” come September, when the original relief program was set to expire, the country’s banking trade association said Wednesday.
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.
Switzerland-based insurer Chubb said Monday it estimates that global net catastrophe losses in the second quarter totaled $1.81 billion before taxes, with losses related to the COVID-19 pandemic accounting for nearly three-quarters of that estimate.
UBS U.K. Pension and Life Assurance Scheme has covered £1.4 billion ($1.8 billion) of defined benefit pensioner liabilities through a longevity swap with Zurich Assurance.
U.K. financial giant Aviva said Monday that Board Director Amanda Blanc has been named as its new CEO, effective immediately, as Maurice Tulloch relinquished his role the same day because of “family health reasons.”
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.
UBS launched a predictive algorithm on Monday designed to quantify the likelihood of a firm being targeted by activist investors, a tool the bank says will protect public companies from such campaigns amid market uncertainty.
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.
The U.S. Department of Justice is pursuing another $96 million in assets allegedly tied to the 1Malaysia Development Berhad bribery and money laundering scheme, bringing to $1.8 billion the amount of forfeiture sought by the department in connection with the international scandal.
Cboe Global Markets plans to launch a new Amsterdam-based futures and options market in the first half of 2021, as part of the exchange operator's effort expand its reach across continental Europe, the stock exchange operator said Wednesday.
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.
The Bank for International Settlements will establish new “Innovation Hub” locations in Europe and North America as it looks to accelerate work on digital currencies and other financial technology across central banks, BIS 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.