Hints and tips:
Related Special Reports
...The latest iteration of its framework on bank capital, known as Basel III or Endgame, has met with fierce lobbying by US banks, which fear significant increases in their capital requirements....
...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....
...While the numbers of departures have not been as high as the worst predictions, many US companies have slowly relocated teams from London and chosen to make new hires in continental Europe....
...It is under scrutiny by officials at the US Treasury department and has come under pressure from the European Central Bank to pull out of Russia....
...There, Swiss Bank Corporation chief executive Marcel Ospel and his counterpart at Union Bank of Switzerland, Mathis Cabiallavetta, agreed to the $29.3bn all-stock merger of Switzerland’s second and third...
...Haris Karonis, who founded Greek payments company Viva Wallet in 2000, said he believes JPMorgan is trying to drive down the valuation of his business by blocking its entry into the US and new European markets...
...“Look back at the US banks [and] how they got into their position....
...BNP still has more than half of a €7.6bn windfall from the disposal of Bank of the West, the US retail bank it sold to Bank of Montreal in 2021....
...But at least half of 2023’s reductions came from Wall Street lenders, whose investment banking businesses have struggled to cope with the speed of interest rate rises in the US and Europe....
...UBS began removing Credit Suisse’s brand in New York in August, replacing signs at the collapsed bank’s US headquarters....
...Unlike more aggressive US rivals, Cevian prefers to work behind the scenes with its portfolio companies....
...Wall Street banks have talked optimistically about a rebound in investment banking next year....
...The UK market for IPOs has so far failed to take off this year, in contrast to mainland Europe and the US where there is a nascent rebound following a two-year hiatus in listings....
...US banks were set to be hit hardest, but a fierce lobbying effort against the Basel III or Endgame measures has led to less onerous requirements....
...the chair of the Federal Deposit Insurance Corporation has warned....
...versus US peers....
...Owen, thanks for looking into your crystal ball for us. Owen Walker is the FT’s European banking correspondent. Owen WalkerThanks very much....
...According to analysts at Barclays, the continent’s banks are outperforming US rivals for the first time in more than a decade in return on equity terms....
...Owen WalkerWell, we saw a group of banks across the world last week in Asia, in North America and also Deutsche Bank in Europe, provisioning quite heavily for potential losses on US commercial real estate...
...“You can see quite a meaningful churn of clients if they’re saying, ‘let us sell you more things or we can’t bank you any more’.”...
...At the time, Credit Suisse said a change to the contract would lead to a $600mn loss for the bank. But on Wednesday, UBS confirmed it would be a $900mn loss....
...Born in the US and with dual Italian and Swiss citizenship, de Ferrari began his career as an auditor, before working at Credit Suisse between 2002 and 2018....
...The Corporation and the Twentieth Century: The History of American Business Enterprise by Richard N Langlois Princeton $50/£42, 816 pages Sir Geoffrey Owen is a former editor of the FT Join our online...
...Shares in Santander — whose biggest markets include Spain, the UK, US and Brazil — have been a sector laggard....
...Research by Scoop, which tracks hybrid working, shows 93 per cent of British finance companies offer the perk compared with 87 per cent of their US counterparts....
International Edition