Banking heavyweights including Goldman Sachs and Morgan Stanley have announced a string of layoffs this year as part of a cost-cutting spree to better position themselves for a murky economic climate.
UBS is cutting nearly half of the staff it inherited from Credit Suisse in Spain in the latest restructuring since the bank took over its fallen Swiss rival earlier this year.
Barclays Plc is laying off dozens of staff in its U.S. consumer banking division as part of a global drive to cut costs, according to a source familiar with the situation.
Indian banks must ensure the presence of at least two whole time directors (WTDs), including the managing director and chief executive officer, on their boards, the Reserve Bank of India said on Wednesday.
Italy’s UniCredit on Wednesday announced improvements to its mobile banking service Buddybank, in a move that Chief Executive Andrea Orcel said would ease the eventual transition to a cloud-based core banking infrastructure.
Deutsche Bank said on Wednesday that it had set aside a 258 million euro ($272.84 million) provision in the third quarter related to lawsuits by a subsidiary of Russian gas giant Gazprom (GAZP.MM).
Japanese investment bank Nomura Holdings has laid off about 10 of its Hong Kong-based investment bankers, including some who were focused on China-related deals, said two sources with direct knowledge of the matter.
