Former Wirecard CEO Markus Braun, on trial for one of Germany’s biggest corporate scandals, has lost his main lawyer after the insurance funds to cover his mounting legal costs ran dry, a court document and statements from the lawyer showed on Wednesday.
Jupiter Fund Management said on Wednesday Alex Savvides will take over running its 1.6 billion pounds ($2.04 billion) UK Special Situations Fund on Oct. 7, with current manager Ben Whitmore delaying his exit by several months to complete an orderly handover.
International financial authorities must give consideration to legal risks surrounding the potential winding up of global banks, Swiss Finance Minister Karin Keller-Sutter was quoted as saying on Wednesday.
The Australian government on Wednesday introduced legislation that would require buy-now-pay-later (BNPL) firms to run credit checks on borrowers, aiming to regulate the rapidly growing sector popular among youth like other consumer credit products.
Regional lender New York Community Bancorp said on Tuesday it had expanded the role of its President and CEO Joseph Otting to include the title of executive chairman.
Viswas Raghavan joined Citigroup as its new head of banking this week in New York, the lender said on Tuesday, after it hired the former head of investment banking from JPMorgan earlier this year.
GameStop is back in the limelight after a hiatus of three years with the return of social media influencer “Roaring Kitty” Keith Gill, a key figure in the Reddit-driven “meme stock” rally of 2021.
The European Central Bank will soon push certain German banks to set aside higher reserves against property loan defaults, Bloomberg News reported on Tuesday.
Russia’s two largest banks expect to open branches and offices in July in the regions of Ukraine that Moscow claimed to have annexed in 2022, the heads of Sberbank and VTB said on Tuesday.
Credem has picked France’s Worldline as the preferred bidder to buy its business to handle payment services for shopowners, the Italian bank said on Tuesday, after running a tender that involved the sector’s main players.
