Fifth Third Bancorp was one the banks that submitted final bids for First Republic Bank on Sunday before it was sold to JPMorgan Chase & Co , people familiar with the matter said.
The U.S. Treasury Department said on Monday that authorities took “decisive actions” in response to the failures of First Republic Bank, Silicon Valley Bank and Signature Bank to strengthen public confidence in the banking system and would continue to do so.
Longtime Kleiner Perkins partner Wen Hsieh is leaving the Silicon Valley venture capital establishment to start a fund with backing from the firm and Taiwanese chipmaker TSMC , sources told Reuters.
Morgan Stanley is planning to eliminate about 3,000 jobs in the second quarter, a source told Reuters on Monday, in its second round of job cuts in six months.
Ethiopia will issue up to five banking licenses to foreign investors in the next five years, part of plans to open up the financial services sector to foreign competition, a senior central bank official said on Wednesday.
A Barclays banker, one of three men of Cameroonian background to sue the bank in a joint London claim, alleges he has felt pigeonholed as an “aggressive Black man” in a lawsuit seeking almost 15 million pounds ($19 million) in damages.
Shares of major U.S. regional banks were volatile on Wednesday, after two straight sessions of declines following the collapse of the third U.S. lender and investors looked ahead to the Federal Reserve’s commentary at its policy meeting.
UBS was considering the potential impact of buying struggling rival Credit Suisse as early as December, months before the takeover was hastily arranged by Swiss authorities in March, according to a regulatory filing.
BNP Paribas ‘s first-quarter sales beat market expectations as trading business at the eurozone’s biggest bank outperformed most of its peers, while it started to reap the benefits from rising interest rates.
Shares of mid-sized U.S. lenders attempted to bounce back in volatile trading on Wednesday following a two-day tumble after the failure of a third major regional bank in two months fanned investor anxiety over stress in the sector.
