Hedge fund launches in 2023 are at their lowest level globally since 2017, data provider Preqin said, against a backdrop of banking upheaval and bouts of market volatility.
Italy’s FinecoBank on Tuesday trimmed its guidance for net financial income this year, which it expects to peak in the fourth quarter, sending its shares down nearly 4%.
Italy’s largest bank Intesa Sanpaolo said on Tuesday it was investing 70 million euros ($77 million) to foster the international growth of Bending Spoons, one of the country’s most successful app developers.
Apollo Global Management Inc said on Tuesday its first-quarter adjusted net income fell 8% year-on-year, missing estimates, as a jump in management fees and investment income could not offset the impact of a drop in asset sales.
Asset management executives and investment bankers working on mergers and acquisitions or equity deals are expected to see the largest declines in bonuses this year, compensation consultants Johnson Associates said in a report on Tuesday.
Standard Chartered is hiring at least 100 staff in China as the British lender gears up to launch an investment banking unit in the country targeting niche bond deals, the chairman-designate of the new entity said.
UBS Group said on Tuesday that Credit Suisse CEO Ulrich Koerner will stay on after the takeover of its Swiss rival as part of a new leadership team of the combined group.
Direct Line Insurance Group Plc said on Tuesday it expected more adverse claims in motor, especially in relation to damage, to pressure its earnings in 2023, sending the British insurer’s shares 8% lower in early trade.
Italy’s Monte dei Paschi di Siena (MPS) pledged on Tuesday to maintain the state-owned bank’s performance after reporting a much bigger than expected first quarter net profit.
Finance leaders of the Group of Seven (G7) advanced economies will discuss this week ways to strengthen the global financial system, Japan’s finance minister said on Tuesday, as recent U.S. bank failures bring the risk of digital bank runs into focus.
