The Swiss bank which posted first full-year loss last year must take a drastic measure. It has to make another retreat in investment banking.
wealth management
Breaking News
China hopes that last week's interest rate cut will increase lending into the economy to shore up flagging growth, but measuring any rise will be impeded by a number of tricks the country's bankers use to manipulate the figures.
Canada's largest lenders are turning to wealth management to spur growth in the wake of the slowdown in capital markets and lesser borrowing among consumers, a Bloomberg report said.
Reforms made in the financial services industry through the retail distribution review or RDR implemented in January by a UK regulator has brought private equity to the arms of wealth managers, according to a report from Citywire.
The Canadian Imperial Bank of Commerce said that it had been seeking CAD1 billion wealth management acquisitions as it tried to boost profit.
