'The markets are challenging, the capital markets are going through a significant restructuring and banks are also going through a significant restructuring, using more capital, being more liquid, which is all making the financial system much safer but (it) does pose a challenge in terms of profitability'.
President Francois Hollande’s government will have to go beyond current efforts on tax if it hopes to attract banking business to Paris in the wake of the U.K. decision to leave the European Union, BNP Paribas Chief Executive Officer Jean-Laurent Bonnafe said.
Bank of New York Mellon appointed Marleny Cheshier as a senior wealth manager in its Newport Beach wealth management office.
Barclays profits slumped in the first half of the year as new chief executive Jes Staley pressed on with plans to restructure the bank and retrench from Africa.
UBS, the Swiss bank, beat expectations Friday with a second-quarter net profit of 1.03 billion Swiss francs ($1.05 billion), higher than the 680 million Swiss francs forecast by analysts.
Nomura’s embattled investors have something to cheer about after the brokerage unveiled plans to buy back more shares and posted its biggest overseas quarterly profit in seven years.
Credit Suisse won a lawsuit by property owners in four upscale resorts in the western U.S. who alleged that the investment bank funded loans based on inflated appraisals of the developments that caused their financial ruin.
Growing worries about the economic outlook have dented the confidence of UK households and manufacturers, according to the latest reports to suggest the Brexit vote result will slow the economy.
Because a number of jobs are simply too expensive.
'He’s already made comments I’ve never heard from a bank CEO'.
Can the crisis be over at Deutsche Bank? The immediate storm will pass if the US Department of Justice has dropped its demand for $14bn (£10.8bn) to cover mis-sold mortgage securities and is instead close to settling for a much lower sum. That outcome will calm market nerves and provide a vindication of sorts for John Cryan, the beleaguered bank’s chief executive, who always insisted that $14bn wouldn’t be the final figure.
For chancellors of the exchequer, annual International Monetary Fund meetings have not always been the happiest of occasions.
European bank stocks finished the quarter up on Friday, making it the index's best quarter since the first quarter of 2015.