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Here, FT journalists explain the potential of these new developments in the retail and institutional financial services industry Supported by Infosys
Cyber risk takes on a new dimension as regulators hold employees responsible and hackers deploy the latest AI; political risk heightens for banks imposing sanctions on Russia; and liquidity risk prompts
...When asked about job losses last year, Ermotti said: “We are committed to minimising the impact on employees by treating them fairly, providing them with financial support, outplacement services and retraining...
...offering”, adding that “our annual reports and financial disclosure were always accurate”....
...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...financial information and maintain trust in banking services,” he predicts....
...Why not, some mused, force banks to mark everything to market and be done with it? Seductive as it sounds, this may not be the best solution. Banks are in the business of maturity “transformation”....
...Using new(ish) and enhanced financial accounts data for the United States, they find that — rather than NBFIs substituting for bank business — NBFI and bank businesses and risks are better seen as increasingly...
...Large regional banks such as Zions Bank and KeyBank had an average sensitivity of 12 per cent in the second quarter of 2022....
...Private equity group Carlyle and Abu Dhabi investment group IMI have agreed a fresh debt funding package for the Barclay family’s Very Group, the Liverpool-based retail and financial services group....
...Following the UK-EU Memorandum of Understanding on regulatory co-operation in financial services last June, the decision on clearing is a welcome sign of pragmatism and improving relations between London...
...Spending on digital services is particularly buoyant in financial services, experts say, due in part to rising interest rates boosting margins for banks — creating surplus cash for them to spend on IT....
...Crucially, Poste Italiane kept its post office network and financial services, unlike Royal Mail. Chief executive, and former JPMorgan banker, Matteo Del Fante has used both to good effect....
...During its 2017 financial year, LCF issued £53mn in bonds. Parker was handed a £47,250 fine and a severe reprimand....
...And the clients get a good deal because they get closer to the asset and there’s less intermediation occurring. Our view is that that is holistically a good thing for the financial system....
...The same holds true in financial markets....
...These smaller banks tend to dominate restructurings because they’re not held back by the same conflicts of interest as big banks, which tend to buy up and sell corporate debt....
...UK chancellor Jeremy Hunt has signed a UK-Swiss financial services pact, calling it “a global first that builds on the UK and Switzerland’s strengths as two of the world’s largest financial centres”....
...Medical and finance professionals say those in their late teens and early 20s are conscious of it and are keen to raise it with their employers and the financial firms whose services they use....
...The MPs backed closing and replacing the Business Banking Resolution Service, a bank-led scheme that aims to solve disputes between SMEs and lenders....
...Better still for auditors, there is evidence investors are willing to pay for a more robust service....
...Such groups might have the benefit of a trailing wind from policymakers: Labour aims to double the size of the UK’s co-operative and mutual financial services sector, according to its financial services...
...In addition to Viniar’s private joking, chief executives Paulson and Blankfein would not speak on earnings calls, while the bank did not set regular public financial targets....
...Banking hubs are shared banking spaces on the high street that offer counter service jointly operated by lenders and the Post Office where customers of major banks and building societies can pay their bills...
...Inflation in the eurozone’s two largest economies has fallen to its lowest level since mid-2021, but services prices remain stubbornly strong, presenting the European Central Bank with a conundrum over when...
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