Nomura Holdings , Japan’s biggest brokerage and investment bank, said on Tuesday it aims to nearly double its pre-tax profit over seven years as it pushes deeper into wealth management.
British bank Virgin Money UK warned of a tepid second-half of the year on Tuesday, citing higher costs and lower profit margins due to growing investments, inflationary pressures and stiff competition for deposits.
Some of the world’s largest investors are making deeper inroads into lending to commercial property, as they snap up market share from retreating banks and bet on an end to the sharp drops in real estate prices.
Venture capital firm Accel said on Tuesday it has raised a $650 million fund to invest in early-stage companies in Europe and Israel with a focus on artificial intelligence and cybersecurity.
JPMorgan Chase on Monday pushed back against recommendations made by proxy advisor Institutional Shareholder Services (ISS) on investor proposals on severance payouts and the separation of the CEO and board chair positions.
French President Emmanuel Macron believes Europe’s banking sector needs greater consolidation, even if that means a major French bank being bought by a European rival, he said in a TV interview with Bloomberg on Monday.
UBS CEO Sergio Ermotti on Monday laid out some of the risks to the bank’s ongoing integration of former rival Credit Suisse, while also discussing his own future, generative AI and whether the lender had become too big for Switzerland.
Royal Bank of Canada has named insider Matthew Stopnik head of global investment banking as part of a larger restructuring within the unit, according to a memo seen by Reuters on Monday.
Raymond James will partner with billionaire Todd Boehly’s investment firm Eldridge Industries to expand into the $1.7 trillion private credit market, mirroring attempts by other banks.
