Switzerland's third largest wealth manager Julius Baer Group Ltd said it has already acquired the Middle Eastern wealth management units of Merrill Lynch located in Lebanon, Bahrain and the United Arab Emirates.
Bankers told the Financial Times that the news of HSBC's planned spinoff of its UK unit logically follows the ringfencing requirements that will be part of the UK Banking Reform Bill about to be passed through the British parliament.
Bob Diamond, the former Chief Executive of Barclays, will be returning to banking by listing a company that will be investing in the African financial sector, a source interviewed by Reuters said.
With the revival of initial public offerings, Australian bankers have many things to be happy for as underwriting fees also surge, according to a report.
US District Judge Mariana Pfaelzer gave final approval to the USD 500 million class action settlement between Bank of America's Countrywide unit and its investors.
Britain's Barclays PLC, Japan's Nomura and the Royal Bank of Canada are leading the loan financing for Hellman & Friedman LLC's buyout of Scout24. The classified advertising business will be bought for EUR700 million in debt funding.
Former Goldman Sachs Group Inc trader Matthew Taylor was given a prison term of nine months for concealing an unauthorized USD 8.3 billion trading position in 2007.
Top U.S. cable provider Comcast Corp has tapped JPMorgan Chase & Co for advice as it evaluates a potential bid for Time Warner Cable Inc, people familiar with the matter said.Comcast brought in the bank to help review options as speculation about cable industry consolidation increased in the past several months, one of the people said.
The respect for the late politician and ex-president of South Africa Nelson Mandela was evident in the business sector, as trading and banks postponed their businesses to acknowledge Mandela's passing.
Lloyds Banking Group is to divest its Irish home loans to an affiliated company of private equity firm Apollo Global Management in a deal worth GBP 257 million.
China Development Bank Corp. has committed CNY490 million (USD81 million) to clean-energy operator China WindPower Group's solar farm projects in two Chinese provinces. CDB has provided a total of CNY1.23 billion to China WindPower's previous projects.
Morgan Stanley and Goldman Sachs Group Inc were hired by The Rubicon Project Inc to lead its IPO next year.
BNP Paribas, the largest bank in France, said it will be buying Bank Gospodarki Zywnosciowej, the Polish arm of Dutch bank Rabobank Groep, for EUR 1 billion.
Swiss bank UBS Ag said Ulrich Koerner will be replacing John Fraser as Head of Global Asset Management. Fraser is set to retire by the end of month.
The Financial Supervisory Service of South Korea told Bloomberg it plans to punish the local unit of Wall Street firm Goldman Sachs Group Inc for breaking rules on the sale of financial products.