BNP Paribas is planning more cost savings in its upcoming 2017-2020 strategy announcement to offset the squeeze on revenue from low interest rates, and may consider raising the proportion of earnings it pays out in dividends.
The estate of one of Bernard Madoff’s oldest friends agreed to pay the con man’s victims $277m to settle claims that the Beverly Hills money manager, who died in 2010, got rich from Madoff’s fraud at the expense of thousands of investors, including his own clients.
European banks will continue to struggle for profitability in the face of multiple headwinds, including higher capital requirements, low interest rates and a weak economy, according to new research published today.
Jutting's narcissistic tendencies of being boastful was a means to cover up.
UBS Chief Executive Officer Sergio Ermotti pledged to continue cost cuts after profit at the wealth-management business fell and the securities unit was hurt by a slump in equities trading.
Antony Jenkins, former CEO of Barclays, has unveiled a new venture that will transform the ways banks operate, enabling them to offer customers superior, faster and cheaper services.
Australia & New Zealand Banking Group’s sale of businesses in five Asian markets to DBS Group Holdings offers the latest sign of consolidation in the region’s highly competitive wealth industry, which has already seen a retreat by European players like Barclays and Societe Generale.
A mass exodus of bankers post-Brexit is unlikely, as many institutions simply don't want to leave London, the head of the City watchdog has said.
Ross McEwan may have been pleasantly surprised as he peaked through his fingers to see what had happened to the Royal Bank of Scotland's (RBS) share price this morning.
HSBC is in talks with the Bank of England to discuss how it might be able to free up £5bn currently locked up in its Chinese business.
Leaves the firm at the end of this year.
"I think there is a tremendous amount of consolidation happening in the tech industry right now," Nada said on "Squawk Alley."
Paul Achleitner's nomination for a new term as Deutsche Bank chairman has split investors, with Qatar's Sheikh Hamad bin Jassim al-Thani backing him but other shareholders reluctant to give their support, according to people with knowledge of the matter.