Mizuho Bank, a wholly-owned subsidiary of Mizuho Financial Group, and the Royal Bank of Scotland have reached a definitive agreement for the acquisition by Mizuho Bank of a credit portfolio which, as of December 31, 2014, was made up of approximately $36.5bn in loan commitments, including $3.2bn of drawn assets.
Societe Generale's notoriously bearish strategist, Albert Edwards, has poured scorn on the belief that the U.S. economy is recovering and predicts "violent" reactions in asset markets during the second half of 2015.
CIMB Group Holdings plans to cut about 50 jobs in Asia to trim costs, people familiar with the plan said.
The education of some of the UK’s most disadvantaged young people has received a boost through a donation to Ark of over £100,000 after works by some of Britain’s most influential artists went under Sotheby’s hammer last night.
RBS reported an annual net loss of £3.47 billion ($5.39 billion) in 2014 after booking a £4 billion writedown in the value of U.S. offshoot Citizens.
Deutsche Bank has announced that it has hired Jeff Urwin, 59, as Co-Head of Corporate Banking & Securities and Head of Corporate Finance. Urwin will become a member of the Group Executive Committee and be based in New York.
Citigroup said additional government authorities have started probes of possible breaches of anti-money laundering laws at its Banamex USA unit.
Philip Hampton will step down as Director and Chairman of RBS with effect from 31 August 2015. Howard Davies will join the Board at the end of June and assume the role of Chairman from 1 September 2015.
Morgan Stanley said it reached an agreement in principle to settle mortgage-backed-security-related claims with the Department of Justice.
A major lawsuit filed against McDonald’s in Brazil is seeking to stop the fast food chain from opening any further stores in the country until it amends its working practices.
Worldwide M&A falls 18% as pace of mega deals slows
Barclays still has “critical mass” to compete in the Middle East and will aim to help local companies raise capital even as it scales back lending, CEO Jes Staley said.
HSBC continues to struggle in its efforts to improve its anti-money laundering and sanctions violations controls, according to the latest annual review compiled by Michael Cherkasky, the bank’s court-appointed monitor.