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BNP Paribas First-Quarter Revenue Beats as Trading Outperforms
Date: May 3, 2023
BNP Paribas first-quarter revenue beats as trading outperforms By Mathieu Rosemain and Matthieu Protard PARIS (Reuters) -BNP Paribas’s first-quarter sales beat market expectations as trading business at the eurozone’s biggest bank outperformed most of its peers, while it started to reap the benefits from rising interest rates. BNP’s quarterly profit more than double in the...
Deutsche Bank to Cut 800 Jobs After Strong First Quarter
Date: April 27, 2023
Deutsche Bank to cut 800 jobs after strong first quarter By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Deutsche Bank is to cut 800 jobs in a new cost-saving drive after reporting a bigger than expected rise in profit for the first quarter, a volatile period globally for finance companies. Germany’s biggest bank produced...
Factbox-Five Facts About Returning UBS CEO Sergio Ermotti
Date: March 29, 2023
LONDON (Reuters) – Sergio Ermotti has been rehired as the CEO of Swiss banking giant UBS to steer its massive takeover of rival Credit Suisse. Here are five facts about the 62-year-old banker. * Swiss national Ermotti began his career as an apprentice at Corner Bank, before getting his first big break in 1987 with...
Credit Agricole Launches China M&A and Investment Banking Business
Date: March 27, 2023
HONG KONG (Reuters) – Credit Agricole, France’s second-biggest listed bank, has become the latest foreign lender to boost its China investment banking operations with the launch of a new unit. The new unit, Credit Agricole (Beijing) Advisory Services, focuses on cross-border merger and acquisition, encompassing purchases, disposals and capital raising, it said in a statement...
HSBC Appoints New Markets Head Amid Wider Investment Bank Reshuffle
Date: March 23, 2023
By Lawrence White LONDON (Reuters) – HSBC has appointed Patrick George as head of markets and securities services, according to a memo seen by Reuters on Thursday, amid a wider reshuffle of the leadership of its investment bank aimed at streamlining decision making. George takes over the key role overseeing HSBC’s trading operations, and one...
Explainer-Credit Suisse: How Did It Get to Crisis Point?
Date: March 16, 2023
By Anshuman Daga (Reuters) – Credit Suisse said on Thursday it would borrow up to $54 billion from the Swiss central bank to shore up liquidity after a slump in its shares and bonds intensified fears about a global banking crisis. Analysts said they think that might not be enough. WHAT EVENTS LED TO THE...