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...A court has agreed that a Russian businessman can sue a Monaco private bank under US anti-mafia organised crime legislation from 1970 that has never been used against a bank in Europe....
...Trade body UK Finance said the BoE had highlighted “a number of important issues” that banks needed to consider in terms of exposure to private equity....
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...Put another way, banks have been able to claw back just over half of the $20bn that shifted in favour of private credit firms in 2023. So, have we reached peak private credit?...
...The Bank of England is probing how UK businesses would be hit by the reversal of a long-running private equity boom, officials said, as they escalated warnings about leverage, transparency and valuations...
...Job moves Bank of America has hired Olof Engelbrekts as head of investment banking in Switzerland. He previously worked for UBS....
...Bank of America has tapped Lukas Poensgen as head of M&A for Germany, Austria and Switzerland, and Juan Vilarino Rumeu as head of M&A for Iberia....
...Bank of America cut the compensation of its top executive Brian Moyniahn by 3 per cent, or $1mn to $29mn in 2023, a year when the company’s bottom line shrunk and its stock lagged rivals....
...Chinese property group Shimao faces a winding-up petition from one of China’s largest state-run banks, the developer said in a disclosure to the Hong Kong stock exchange on Monday....
...The UK’s Coventry Building Society has agreed to buy the Co-operative Bank for £780mn in a deal that would eventually return the private equity-owned lender to mutual ownership....
...Private equity-owned German real estate lender Aareal Bank warned there was “more to come” after one in four of its US office loans went into default last year....
...Citi, JPMorgan and Bank of America have all gotten in....
...The Bank of Japan is likely to hold off from raising interest rates next week but investors expect the central bank to outline its response to rising inflationary pressures caused by the yen’s decline....
...“Taken together, the absence of news and the passage of time have brought a Bank Rate cut somewhat closer,” Pill said on Tuesday....
...The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com...
...Barclays has agreed to sell approximately $1.1bn worth of credit card debt to private equity firm Blackstone, as the British bank steps up efforts to move assets off its balance sheet in advance of more...
...Bank of America has sent “letters of education” to employees who have not been showing up at the office, warning them of disciplinary action, in the latest move from a large company to push staff back to...
...The investigation relates to a loan made by an Austrian private bank to Signa, said people with knowledge of the probe....
...Microsoft has hired the co-founder of Google’s DeepMind, the Bank of Japan raised interest rates for the first time since 2007, and leading European and UK artificial intelligence start-ups have been lobbied...
...The bank reported a return on tangible equity — a key measure of bank profitability — of 12.3 per cent, down from 15 per cent last year but ahead of its target of more than 10 per cent for 2024....
...Deutsche Bank lost a subsequent trial in 2017 but lodged an appeal, resulting in an another series of lawsuits....
...NatWest has poached UBS executive Emma Crystal to become chief executive of private bank Coutts, following the exit of Peter Flavel after the Nigel Farage “debanking” scandal....
...with bank fraud for stealing $16mn from Ohtani to cover the translator’s own illegal wagering debts....
...Bank of England deputy governor Sarah Breeden has called for more research into non-bank lenders to stave off a “credit crunch sourced in market-based finance”....
...The bank is specifically focusing on private credit as one of its major engines of growth....
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