Russian private lender Sovcombank has applied to the U.S. Treasury for a licence to make membership payments to a United Nations climate funding programme while its activities are blocked by U.S. sanctions, a senior bank executive told Reuters.
British bank Virgin Money missed full-year profit forecasts on Thursday, after it set aside more cash to cover loan defaults as stubborn inflation and steep borrowing costs squeeze household finances.
Crypto-focused bank Silvergate Capital said on Wednesday it had fully repaid all remaining deposit liabilities, following the bank’s decision earlier this year to wind down operations.
Banco Popular’s shareholders and creditors suffered a setback on Wednesday after Europe’s second highest court said they were not entitled to compensation as a result of the bank’s rescue more than six years ago.
Citigroup has made new appointments in Asia Pacific following a sweeping global reorganization the U.S. bank announced on Monday, according to a person with direct knowledge of the matter.
New York-based Avenue Capital Group plans early next year to launch a new fund to invest in so-called environmental impact private credit investments, according to a person familiar with the matter.
Hedge fund crowding has hit its highest on record, as asset managers have upped their bets on the “Magnificent 7” tech stocks that have juiced up portfolio returns this year, Goldman Sachs said in a report on Tuesday.
Citigroup CEO Jane Fraser and top executives announced the next layer of leadership changes as part of a sweeping reorganization on Monday, according to memos to staff seen by Reuters and sources familiar with the situation.
