Credit Agricole will probably reach an accord with U.S. officials in the next two months to settle a probe of the bank’s business in sanctioned countries including Iran, a person with knowledge of the matter said.
A Retail bank leader in France and in Europe, Crédit Agricole is a first-class partner for the economies in which it operates.
Credit Agricole said profit was almost wiped out in the second quarter on charges tied to its stake in bailed-out Banco Espirito Santo SA.
Commerzbank will probably be the next bank to resolve alleged U.S. sanctions violations, a person with knowledge of the matter said.
Credit Agricole, which refused to settle an antitrust probe over Euribor manipulation, accused European Union regulators of bias and said they should step down from the case, according to two people with knowledge of a letter the lender sent to the EU.
The European Commission has informed Crédit Agricole, HSBC and JPMorgan of its preliminary view that they may have breached EU antitrust rules by colluding to influence the pricing of interest rate derivatives denominated in the euro currency.
JPMorgan and HSBC are said to face a European Union complaint as soon as next month as the bloc’s antitrust chief races to fine a quartet of financial companies that snubbed rate-rigging settlements.
Crédit Agricole Corporate and Investment Bank has announced the appointment of Benoit Fosseprez as Head of Americas GIB (Global Investment Banking).
Bloomberg’s Manus Cranny reports on JP Morgan Chase and two other banks rejecting a European Union deal to end an antitrust probe into the rigging of Euribor lending rates.
French bank Societe Generale plans to cut 375 jobs across Europe in its securities-services business, a staff union said in a newsletter posted online after meeting with management.
Bloomberg's John Dawson takes a look at the top company headlines on Bloomberg Television's 'On The Move Asia'.
It's beginning to feel like 2008. Hold on to your hat.
Reuters reports that Credit Agricole has confirmed that around 3,500 investment banking jobs are likely to go following the agreed merger between Credit Agricole and Credit Lyonnais.
Bankers working on the sale of the bulk of Vivendi's stake in Activision Blizzard Inc to the video games maker and its management could earn advisory fees of up to $80m, according to an industry estimate.
And so on it goes.
RBC Capital Markets has announced that it has hired Christophe Duval-Kieffer as a Managing Director and Global Inflation Linked Strategist.
Credit Agricole will pay as much as $800m to settle a U.S. probe into violations of sanctions against Iran and Sudan as soon as this week, according to two people briefed on the matter.
Banks are offering recruits up to £900 a day ($1,422) to work on interest rate swap mis-selling claims.
The Wall Street Journal reported a few weeks back that CLSA bank analyst Mike Mayo had been having problems getting in to see senior officials over at Citi, and some say that this is in retaliation for his view that the firm has been overstating profits due to the way it treats deferred-tax assets.
Crédit Agricole CIB has announced the final organisation of its management team.
The NYDFS has announced that Crédit Agricole will pay $787 million and install an independent monitor for violating New York banking law.
JPMorgan, HSBC and Credit Agricole will come face to face with the European Union antitrust officials who accused them of rigging the Euribor benchmark at hearings this week.
There’s good news for Europe’s bond traders: at least one corner of the market is still hiring.
Credit Agricole posted a 2.6% increase in first-quarter profit on higher earnings from investment banking and asset management.