Wells Fargo said on Tuesday it has named Alexandra Barth as the co-head of its leveraged finance business, beefing up the lender’s ranks as it looks to expand its investment banking operations.
The BlackRock Investment Institute (BII) said on Tuesday that Japan stocks were its favoured equity investment play, while the prospect of higher-for-longer interest rates made inflation-linked bonds attractive on a strategic horizon.
The U.S. Federal Reserve is considering a rule change that could save the country’s eight largest banks combined billions of dollars in capital, in a potential long-sought win for the industry, according to four people with knowledge of the matter.
Russia and India are engaged in constructive discussion around payments, as Western financial sanctions on Moscow and the inconvertibility of the rupee hamper bilateral settlements, VTB Bank CEO Andrei Kostin said on Tuesday.
Regulators seeking to map out risks from the booming non-bank financial industry face information “black holes” which might only be fixed by mandatory disclosure, the chairman of Europe’s banking watchdog told Reuters, pointing to a process that could take years.
Board directors of banks must take ultimate responsibility for outsourced services and document how they manage the risk of outages and disruptions to customer services, the global Basel Committee of banking regulators proposed on Tuesday.
Asia’s rich and their bankers said they are backing an eventual recovery in China and betting exposure to a region that even in a slowdown is the fastest-growing in the world will pay off.
Some of the largest U.S. banks will probably report weaker profits for the second quarter as they earn less from interest payments and set aside more money to cover deteriorating loans, analysts said.
India’s beleaguered Paytm has secured approval from a government panel that oversees investments linked to China to invest 500 million rupees ($6 million) in a key subsidiary, three sources with direct knowledge of the matter said.
DBS Group is looking for bolt-on acquisitions that would support its geographic and business strategy but has ruled out making a major buy to save itself from distraction, Piyush Gupta, CEO of the Singapore bank, said on Tuesday.
