Wells Fargo named former JPMorgan Chase executive Fernando Rivas as co-CEO of its corporate and investment banking (CIB) on Wednesday, as it looks to expand market share on Wall Street.
Singapore’s biggest bank DBS Group said on Wednesday that it has appointed Ping An Technology’s chairman and CEO Eugene Huang as its chief information officer (CIO) effective Friday.
British bank TSB, owned by Spain’s Sabadell , is seeking 250 job cuts and 36 branch closures, a spokesperson for the bank and employee union Unite said on Wednesday, as the lender accelerates a restructuring push to save costs.
Indian banks’ plan to increase their technology spending to around 10% of their operating expenses to keep up with the surge in digital transactions as the central bank intensifies scrutiny on frequent outages, more than half a dozen bankers said.
The German reinsurer Munich Re on Wednesday posted a 68% rise in the first quarter net profit, a level that was in line with preliminary figures published last month.
India’s Muthoot Finance has accepted bids worth $650 million for U.S. dollar-denominated bonds maturing in three years and nine months, three bankers said on Wednesday.
The Federal Deposit Insurance Corporation must make sweeping changes to address widespread sexual harassment and other misconduct, according to an independent report released on Tuesday that raises questions about the future of the banking regulator’s leadership.
