Hints and tips:
...Fintech groups including Klarna, Clearpay, Laybuy and PayPal Credit pioneered BNPL but a number of banks including NatWest, Virgin Money, HSBC and Monzo now also provide the product....
...“If 30 per cent hold an MPF with HSBC as a trustee, then HSBC is denying access to . . ....
...with British merchant bank SG Warburg....
...Still in his twenties, Swain will lead Houlihan’s direct placements and secondaries practise within the investment bank....
...A VC on SVB Sequoia’s Michael Moritz explains in the FT how SVB came to dominate Silicon Valley over more formidable rivals on Wall Street....
...The fallen crypto empire courted high-profile investors, including large investment firms Sequoia Capital and Thoma Bravo, pension funds such as Ontario Teachers’ Pension Plan and hedge fund billionaires...
...for HSBC’s UK pension for two years after the global financial crisis....
...Today began with news that HSBC had bought SVB’s British arm for £1 in a fire sale after all-night talks involving Prime Minister Rishi Sunak and the Bank of England....
...Leaving Russia: harder than it seemed When HSBC struck a deal to sell its Russian subsidiary to local lender Expobank in July, it looked like the bank had found a neat solution to a particularly delicate...
...Now, actually, over the summer, some of these banks were lining up deals to exit. HSBC was lining up a deal with a Russian bank called Expobank....
...The company did not have “an accurate list” of its own bank accounts, or even a complete record of the people who worked for it....
...Much still needs to be repriced in a world of a 5.25 per cent bank rate. Kate Barker, trustee chair at USS: Better than 2023, absent an energy price shock....
...Chris Raff, Deutsche Bank’s former head of UK M&A, has joined Moelis as a managing director in London. Thomas Fisher is rejoining Clifford Chance as a partner in London....
...One thing to start: HSBC, UBS, Barclays, Deutsche Bank, Santander, UniCredit and Standard Chartered all reported better than expected third-quarter results this week, boosted by central bank interest rate...
...The Bank of England’s verdict is that the root cause of the pension fund crisis is poorly managed leverage....
...The company’s lenders, as of last summer, included Barclays, HSBC and Bank of Ireland....
...Spain’s BBVA sold its American unit to Pittsburgh-based PNC last year, and HSBC divested the bulk of its US retail banking operations to Citizens Bank and Cathay Bank in May....
...Last summer Sequoia hired Anas Biad from rival Silver Lake, continuing to entrench its position in Europe....
...The industry is being dominated by old-aged banks like the HSBCs and Citibanks of the world, which have highly paper-based, manual processes. The industry hasn’t seen much innovation for decades....
...Two decades ago, HSBC made a bold gamble to recapitalise an ailing Chinese insurance firm, Ping An....
...The banks have agreed to a pro-rata fee reduction depending on redemptions, up to a maximum 20 per cent cut. If the deal faces “maximum redemptions”, the banks still make $4.7mn....
...Mainstream banks are also starting to get into this space....
...Kate Barker, pension trustee at BCSSS: The UK likely to lag other economies — productivity growth seems unlikely to pick up....
...The so-called “Big Four” high street banks — Barclays, HSBC, NatWest and Lloyds — all grew out of regional lenders such as the 19th century Birmingham and Midland Bank, which eventually became HSBC UK....
...Over 120 influential speakers including Antony Blinken, US secretary of state, David Malpass, president of the World Bank, Melinda Gates, co-chair and trustee, Bill & Melinda Gates Foundation, and Sebastián...
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