Three former Qatalyst Partners bankers have formed a new investment banking boutique called AXOM Partners, which will focus on advising technology companies on mergers and acquisitions (M&A).
Diego Labat, Uruguay’s central bank chief, is sitting pretty. Inflation is at the lowest level in nearly two decades, the currency is one of the region’s strongest, and the country is leading a regional pivot towards interest rate easing.
Societe Generale’s new CEO Slawomir Krupa pledged on Monday to cut costs to boost profits by 2026 amid stagnating sales, in his first strategic plan for France’s third-biggest listed bank.
British insurer Phoenix said on Monday it was on track to deliver positive net fund flows from 2024 for the first time in its history, after net fund flows from new business surged in the first half of 2023.
EFG International on Monday said it had opened an office in Tel Aviv and appointed former Credit Suisse employee Joseph Wolf as chief executive of the Swiss private bank’s Israel subsidiary.
Societe Generale’s shares plunged more than 9% on Monday after France’s third-biggest listed bank said it expected little if any growth in annual sales over the coming years in a keenly-awaited strategic plan from its new CEO.
Shares of private lender Dhanlaxmi Bank recovered on Monday after plunging 9% following the exit of Sridhar Kalyanasundaram, an independent director who cited differences with the board on matters including the bank’s rights issue and capital position.
Bank of Montreal (BMO) is winding down its indirect retail auto finance business and shifting focus to other areas in a move that will result in an unspecified number of job losses, Canada’s third-largest bank said.
U.S. junk-rated companies are using a more favorable debt issuance window this year to extend billions of dollars of short-term liabilities. But they were doing so at a high cost which will weigh on their margins and interest coverage ratios over the coming quarters, said a report by Morgan Stanley .
Banking heavyweights including Goldman Sachs and Morgan Stanley have announced a string of layoffs this year as part of a cost-cutting spree to better position themselves for a murky economic climate.
