Francesca McDonagh, head of HSBC's retail business in the UK, is astonished over the lack of female representatives in the banking sector. She is worried about the slow progress of female reps in senior posts.
banking sector
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Life Insurance Corporation has invested in nine state-owned banks. The Indian-based insurance group has invested around ₹2,750 crore in shares of nine banks in order to strengthen their capital reserve.
Citigroup is reportedly in negotiation to appoint Armando Diaz as the global leader of capital equities trading. These appointments signify the bank's effort to construct a robust stock offering business.
The EFG International announced its intention to purchase the BSI Ltd in a deal worth about $1.34 billion. The deal will make EFG a leader in the private banking industry.
Jamie Dimon, chairman and chief executive officer of JP Morgan Chase & Co, spent $26 millions to buy shares of his bank on Thursday. The share purchase is translated as good sign by other investors as the shares climbed by 2 percent after the news broke out to the public.
The UK stocks, after suffering losses for three sessions in a row, rebounded. Barclays and other financial companies led the gains. After suspension of trading for a day, the trading in Barclays stock resume on Monday. The FTSE 100 index dropped 9.2 percent in 2016 so far.
