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...The global banking regulator has held high-level meetings with bank executives, investors and credit rating agencies in recent weeks to assess the suitability of a form of debt that was controversially wiped...
...Its entire business generated revenues of £923mn in 2022....
...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....
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...Job moves Bank of America has hired Olof Engelbrekts as head of investment banking in Switzerland. He previously worked for UBS....
...UBS’s Americas wealth business generated just $4 of profit for every $100 of revenue in the final quarter of 2023....
...In the first quarter of the year, according to the London Stock Exchange Group, the Americas accounted for 54 per cent of investment banking fees globally (compared with 47 per cent for all of last year,...
...And every big business — from Ford to Disney, SAP to Google — started as a small business. The limited flexibility of our banking system creates a challenge for any SMB....
...But investment banks have reacted to the difficulties of increasing capital and regulation since the financial crisis by focusing on a zero-sum war of attrition with each other in existing business lines...
...It also risks serious flak from Dutch politicians and regulators who worry about threats to the banking sector, especially after the travails of America’s regional lenders a year ago....
...And the FT’s US banking editor, Josh Franklin, says that since then, many small and medium sized banks have struggled....
...The UK’s main financial regulator has said it will investigate banks’ practice of requiring personal guarantees from directors of some small businesses when they borrow money....
...However, the arrival of former Bank of America dealmaker Diego De Giorgi as chief financial officer at the start of the year introduced a strong rival for the top job....
...In large bankruptcy cases, there are often thousands of stakeholders, ranging from small business creditors to huge financial institutions....
...It is home to the Bank for International Settlements — the central bank for central banks — and the Basel Committee on Banking Supervision, which sets the rules by which the world’s banks do business....
...This year HSBC has completed the sale of its Canada unit and its French retail banking business. It has previously agreed to sell its operations in Greece and Russia....
...The Delaware court this year invalidated such a practice at the investment bank Moelis & Co, which had given its founder veto power over nearly all of the standard work conducted by a board of directors....
...Excessive bank regulation is for the birds, reckons the European Banking Federation. At least that is what an avian-themed cartoon on the report’s cover suggests....
...The bank sounded one note of caution on its car financing business Arval — an area where French rivals Société Générale and Crédit Agricole are also big operators — saying used car values were now falling...
...Bank of America’s profits fell 18 per cent in the first quarter, dragged down by a jump in potential loan losses and additional expenses tied to last year’s regional banking crisis....
...The results highlighted the ability of Morgan Stanley’s wealth management business, which has been a driver of the bank’s growth in recent years, to add new client assets on a large scale....
...But fierce competition in the savings and mortgage markets because of rising interest rates has fuelled a wave of mergers and acquisitions speculation about small and medium banks that struggle to compete...
...Profits fell 13 per cent from the same period a year earlier to £1.6bn, after weakness in the bank’s domestic business and its investment bank drove a 4 per cent decline in group revenues to £7bn....
...Citi, JPMorgan and Bank of America have all gotten in....
...“Banks should be doing all they can to support small business in this country, not pulling the rug out from beneath them with little warning.”...
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