UBS has ruled out appointing an outsider as the successor to CEO Sergio Ermotti, and plans to choose from a shortlist of three internal candidates when he steps down in about three years, the Financial Times reported on Monday.
U.S. Treasury Secretary Janet Yellen said on Friday that she believes the White House will move as quickly as possible to nominate a new Federal Deposit Insurance Corp chair to replace Martin Gruenberg, who tendered his resignation amid a sexual harassment scandal.
U.S. Treasury Secretary Janet Yellen told Reuters that European banks face growing risks operating in Russia and the U.S. is looking at strengthening its secondary sanctions on banks found to be aiding transactions for Russia’s war effort.
G7 finance leaders will call on Israel to maintain correspondent banking links between Israeli and Palestinian banks to allow vital transactions, trade and services to continue, according to a draft joint statement seen by Reuters on Saturday.
U.S. Treasury Secretary Janet Yellen said on Friday she is trying to save a part of the global corporate tax deal focused on highly profitable multinational firms, but India is refusing to engage on issues important to U.S. interests.
Danske Bank said on Friday it expects the European Central Bank only to cut interest rates twice this year, not three times, while Barclays also scrapped a call for a July reduction.
Capital One Financial will no longer be the exclusive issuer of Walmart-branded credit cards, the companies said on Friday, as they scrapped their agreement following disputes.
Citigroup has asked its 600 U.S. employees, who are eligible to work remotely, to return to office fulltime, it said on Friday as regulatory requirements make it hard for Wall Street banks to allow offsite work for roles such as trading.
Abrdn CEO Stephen Bird has stepped down, the British fund manager said on Friday, after a turbulent four-year tenure marked by deep outflows of client cash and a much-criticised rebranding.
JPMorgan Chase & Co will pay $100 million and admit it broke U.S. Commodity Futures Trading Commission rules in connection with trade reporting lapses, the regulator said on Thursday.
