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...Ermotti has re-emerged as a leading spokesman for European banks since returning to UBS in the wake of its rescue of former rival Credit Suisse in the most significant merger in the sector since the financial...
...European banks are on course to return more than €120bn to shareholders off the back of their 2023 results as they pass on the benefits of surging interest rates to investors....
...The decision to make deep cuts to the branch network comes as the bank tries to appease angry customers after a botched IT migration disrupted services over the summer....
...Three years later the bank collapsed....
...Deutsche Bank has named former Citigroup dealmaker Alison Harding-Jones as its new global head of mergers and acquisitions, as the German lender seeks to improve its standing in the competitive business...
...The sector is expecting a judgment from the European Court of Justice that may rule that banks have to refund all interest payments to clients....
...Deutsche Bank warned late on Friday that up to a fifth of its expected pre-tax profit in 2024 might be wiped out as it braces for defeat in parts of a long-running shareholder lawsuit over its ill-fated...
...Since its merger with Dresdner Bank in 2009, Commerzbank has lurched from crisis to crisis, blighted by bloated costs and feeble growth in the era of low interest rates....
...US regional banks that frankly most Europeans had never heard of but were the size of several continental national champions were dying off as the sharp rise in interest rates exacted a heavy toll....
...This makes market chatter about Deutsche buying another bank, such as local peer Commerzbank or ABN Amro of the Netherlands, a distinctly dubious prospect....
...Instead, the regulator in its report referenced anonymised companies “[Company A] Bank AG” and “[Company A] Capital (UK) Limited”....
...Despite a prolonged drought in deals and a fall in loan demand, 2023 was one of the most profitable years for European banks because of rising interest rates....
...The largest US banks lent billions of dollars less in the first quarter, in a sign that corporate borrowers are opting to whack down their debt with interest rates still at historic highs.Bank of America...
...In a bid to attract customers to its venue in the aftermath of Brexit, Eurex launched a profit-sharing scheme with traders on products including interest rate swaps....
...PBB’s non-performing US loans doubled to €600mn in 2023, as results last week showed....
...Recent rises in interest rates have helped strengthen the position of the biggest companies to the detriment of cyclical and long-duration assets, according to analysts, as banks become more cautious about...
...state and outside interests interfering in club affairs.”...
...Credit Suisse unit, as well as UBS and regulators....
...“I discussed it at dinner with Sergio when he agreed to come back,” said Kelleher. “There is a lot of life in him, but he is not as young as some people.”...
...The decision to bring in Morgan Stanley veterans Kelleher as chair and Naureen Hassan as head of the Americas business was no coincidence....
...As the windfall from higher interest rates begins to recede, the bank said it would axe 3,500 jobs by 2025, although later clarified that 800 of the cuts had already been announced in April last year....
...The warning highlights how the strains in US commercial real estate are being felt outside North America, as higher interest rates have made loans more expensive and falling demand for office space has hit...
...Two scoops to start, first: Deloitte has launched the biggest overhaul of its global operations in a decade as the Big Four firm seeks to cut costs and reduce the organisation’s complexity in the face of...
...As part of a deal with the city, Dresdner Bank had to include a playhouse with 300 seats in the building....
...interest rates....
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