Commercial Banking
- Finance
Klarna plans to lay off 10% of workers due to poor market conditions
Buy-now-pay-later giant Klarna is to lay off about one-in-10 of its employees, as the company fights against a worsening economic…
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Banking giants told to move staff to Europe as ECB Brexit review finds ‘empty shells’
A major European Central Bank review has slammed banks for not shifting enough resources to the EU in the wake…
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Buy the dip or sell the ‘rip’?: What’s ahead for stock investors as ‘sticky’ inflation fears heighten consumer concern
Investors, already grappling with a sinking stock market and fears that the U.S. economy may be heading for a recession,…
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SoftBank-backed fintech giant Klarna looks for new funds at lower valuation
Klarna Bank is seeking to raise new funds that could value the fintech giant at almost a third less than…
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Citi’s new Malaga hub attracts 3,000 applicants, including ex-footballers and Olympians
Citigroup received over 3,000 applications for its new graduate programme in the Spanish city of Malaga — a sign the bank’s…
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Societe Generale chief executive Frédéric Oudéa to step down next year
Frédéric Oudéa, chief executive of French bank Societe Generale, is set to step down from the bank next year, calling…
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JPMorgan chief Jamie Dimon has $50m bonus rejected by shareholders
JPMorgan Chase shareholders objected to a roughly $50m retention bonus for chief executive Jamie Dimon and voted against the bank’s compensation…
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Here’s what just happened that triggers stock market drops 71% of the time, warns Credit Suisse
Wall Street’s in an unusually bullish mood Tuesday morning. Tim Holland, chief investment officer at Orion Advisor Solutions, argues the…
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Which of Buffett’s bank stocks might make you the most money?
This is the time of the quarter when investors get to see what changes Warren Buffett and the management team…
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Citigroup launches new VC and family office team with Tobi Ali at the helm
Citigroup is launching a new team of dealmakers to focus on venture capital firms and family offices, the latest appointment…
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Citigroup names Tom Anderson as chief compliance officer
Citigroup has named Tom Anderson as its new chief compliance officer. Anderson, who currently serves as compliance chief of Citi’s…
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Tech stock rout sees Tiger Global lose $17bn
The hedge fund Tiger Global has lost roughly two-thirds of the cumulative gains it has made for investors since its…
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Bitstamp CEO Julian Sawyer leaves crypto exchange in surprise move after less than 18 months in role
Julian Sawyer who was serving as chief executive at cryptocurrency exchange Bitstamp has left the company effective immediately. In a…
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Bank of America hires JPMorgan’s Rahul Bhandari for private markets push
Bank of America has poached JPMorgan’s head of private capital markets in Europe, as banks in the region battle for…
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Trading Places: JPMorgan poaches Aviva’s Singh, FCA hires ex-Goldman MD, BofA nabs Ansorg
Big hires continued apace this week, starting with Jefferies, which hiredMorgan Stanley dealmaker Richard Gostling to head up its coverage of…
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Why splitting HSBC won’t clear political landmines
HSBC, Europe’s most valuable bank, makes most of its money in Asia but is headquartered in the UK. Now its…
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UBS’ firing of a senior investment banker was defamatory, US watchdog rules
UBS’ rationale for the 2018 firing of a senior investment banker was defamatory and should be expunged from his record…
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UniCredit 1Q Net Pft EUR247M
By Cristina Roca UniCredit SpA reported a drop in first-quarter earnings Thursday, dragged by rising provisions related to its Russian…
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UniCredit reports fall in Q1 earnings from poor performance of Russia business
UniCredit reported a drop in first-quarter earnings on 5 May, dragged by rising provisions related to its Russian business, and…
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Why Brexit, Covid and the Ukraine war are spurring calls for a European banking union
A renewed push by top policymakers has raised the prospect that progress towards an EU banking union could soon be…
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Banks’ post-Brexit ‘desk-mapping’ review will end up being a damp squib, City predicts, as finish line nears
A major review into how UK banks structure their operations in the EU after Brexit could end in an anticlimax,…
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An Audience with Standard Chartered’s Tracey McDermott: Why a global ESG standard won’t work for banks
Tracey McDermott wants to help solve the climate crisis. For a time, she was in charge of the Financial Conduct…
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JPMorgan just promoted 45 dealmakers to MD — here are the names
JPMorgan has promoted 10 dealmakers in the City to the coveted rank of managing director, part of its annual round…
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Top grads flock to £100k crypto jobs instead of banking: ‘There’s growth in every single direction and almost zero hierarchy’
Forget banking, crypto is now where the talent and money are. Take Pujeet Manot — the sort of hire the…
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UK advertising watchdog mulls calling out HSBC for greenwashing
The UK advertising watchdog is considering whether to warn HSBC that several of the bank’s climate-related adverts are “misleading”. A draft Advertising…
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BNP Paribas trading fees surge after investment bank expansion
Trading fees at BNP Paribas surged by more than 50% in the first quarter, as the bank benefited from market…
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Goldman Sachs partner Clare Scherrer takes CFO role at FTSE 100 firm Smiths Group
A top Goldman Sachs dealmaker who left the bank in March has re-emerged as chief financial officer of FTSE 100…
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Apollo snaps up JPMorgan’s Christine Moy in digital assets push
Private equity firm Apollo has hired former JPMorgan metaverse head Christine Moy to steer a push into the digital asset…
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Credit Suisse names Francesca McDonagh as Europe CEO amid flurry of senior appointments in latest shake up
Credit Suisse has made a flurry of changes to its senior ranks, the latest shake-up after successive scandals at the…
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Credit Suisse reveals $284m loss as investment bank tumbles
Credit Suisse unveiled a loss of CHF273m ($284m) in the first quarter as it battled litigation costs and a slump…
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Standard Chartered profits up despite China, Russia headwinds
Standard Chartered’s first-quarter profit edged up by 4%, thanks to recovering interest income and better cost efficiency, even though the…
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HSBC’s investment bank profit slips by 35% as Russia-Ukraine conflict hits
HSBC put more money aside to cushion the impact of Russia’s invasion of Ukraine during the first quarter of 2022,…
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Deutsche Bank’s fixed income trading unit bolsters profit
Deutsche Bank’s investment bank beat expectations as a surge in fixed income trading and mergers and acquisitions fees helped bolster…
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JPMorgan sued by Ray-Ban for failing to catch $272m theft
The eyewear company that owns Ray-Ban and LensCrafters has sued JPMorgan, accusing it of failing to notice that thieves had…
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Credit Suisse places Russia staff on ‘paid leave’ as it pulls back
Credit Suisse’s staff in Russia have been placed on paid leave as the Swiss bank looks to wind down its…
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Lloyds reports pretax profit fall but says this beat market expectations
Lloyds Banking Group reported on 27 April a decline in pretax profit for the first quarter of 2021, beating market views…
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