Credit Suisse has more than tripled its stake in a Swiss wealth management firm, buying shares from a Qatari consortium that includes the state’s ruling family, sources familiar with the deal said.
Read the rest of this entry
In Bob McCann’s efforts to turn around UBS Wealth Management US, he will be getting advice straight from the horse’s mouth.
Read the rest of this entry
Notwithstanding their cost-cutting drives to survive the downturn, some of the biggest banks in the US and Europe have so far set aside close to $300 billion for employee compensation and benefits this year.
Read the rest of this entry
Germany’s largest bank, Deutsche Bank increased the number of its affluent clients during the financial crisis and saw its client base grow faster than the market, German media reported.
Read the rest of this entry
Credit Suisse said Thursday that it swung to a third-quarter profit of 2.35 billion Swiss francs ($2.33 billion), helped by further inflows into its private-banking business as well as market-share gains in investment banking.
Read the rest of this entry
Bonuses may be back in the City and on Wall Street, but private banks are disregarding them as income, causing some wealthy homebuyers to seek better mortgage deals on the high street.
Read the rest of this entry
OCBC plans to go into new markets such as the Middle East and Europe with its private bank, after buying ING’s Asia private banking assets, its CEO David Conner said on Thursday.
Read the rest of this entry
Reeling from mounting losses in the sub-prime mortgage and consumer credit market, Bank of America is looking to boost its capital ratios by unloading subsidiaries and divisions which are no longer a viable fit in the bank’s long term strategies.
Read the rest of this entry
Citigroup will soon announce replacements on its board of directors as the struggling banking giant’s shares continue to sink. The New York-based firm must now also deal with its new largest shareholder, the U.S. government.
Read the rest of this entry