BlackRock , the world’s biggest asset manager, has named Giovanni Sandri, its current head of Italy, as head of southern Europe, creating a cluster that also includes Spain, Portugal, Greece and Israel, two sources familiar with the matter said.
Barclays has appointed former Morgan Stanley veteran Scott McDavid as its new global head of equities, the British bank said on Tuesday, the latest in a series of high-profile hires to its New-York investment banking operations.
S&P Global Ratings cut SoftBank Group Corp’s long-term rating deeper into junk territory on Tuesday, leading the Japanese tech investment conglomerate to push back against the downgrade.
PacWest Bancorp’s shares climbed 13% in premarket trading on Tuesday, extending gains from the previous session after the bank’s plan to sell $2.6 billion worth of its loan portfolio to build capital fueled optimism among investors.
The World Bank will press for more grants and new capital from member countries, even as it leverages its balance sheet to scale up lending for responses to climate change and other global crises, its managing director of operations said on Tuesday.
The chairman of Spain’s Santander , Ana Botin, warned on Tuesday against more regulation in the financial industry and said that in part mismanagement was to blame for the recent banking turmoil in the sector.
Bank Leumi reported a drop in first-quarter profit on a one-off decline in the valuation of a U.S. asset, and said 30% of profit would be distributed as dividends along with a share buy-back plan of 800 million shekels ($221 million).
Slawomir Krupa has one clear mission when he takes over at Societe Generale on Tuesday: remake France’s third-largest lender as a top-tier bank with a distinct identity.
Julius Baer reported modest money inflows in the first four months of this year, disappointing investors who had expected the Swiss wealth manager to benefit from Credit Suisse’s troubles and sending its shares down as much as 8%.
