Banking

Bloomberg Citigroup Inc joined rivals including UBS Group AG in touting its flexible work policies as a tool that will offer a competitive edge in recruiting and retaining top staff. The lender’s employees will have the option of working from home at least part time, investment banking co-head Manolo Falco said at a virtual press briefing. That will set the ...

Bloomberg Morgan Stanley has promoted several technology investment bankers to be the next generation of leadership at one of the investment bank’s most important franchises. The New York-based firm has named Dave Chen co-head of global technology investment banking, alongside current co-heads Michael Grimes and Drew Guevara, according to a memo reviewed by Bloomberg News. A representative for Morgan Stanley ...

Bloomberg UBS AG is in talks with Belgian authorities to resolve an investigation into allegations it helped wealthy clients dodge taxes, local prosecutors said. Confirmation of the talks comes after newspaper L’Echo reported that the lender has agreed to pay almost 50 million euros ($60 million) to settle the case and avoid a public trial, citing sources it didn’t name. ...

Bloomberg The Bank of Japan (BOJ) cut bond purchases for the next three months while shifting to a quarterly-buying plan to offer more certainty to markets. The quarterly plan showed a reduction of at least 25 billion yen ($226 million) in purchases of each of the one-to-three, five-to-10 years and 10-to-25 year buckets. Previously, it had only released monthly purchase ...

Bloomberg Goldman Sachs Group Inc is seeking to raise $4 billion for its latest infrastructure fund, dubbed West Street Global Infrastructure Partners IV. The firm, which has held discussions with potential investors such as pensions funds, is aiming to hold a first close on the vehicle as soon as the third quarter, one of the people said. New York-based Goldman ...

Bloomberg Azura, a wealth manager focused on billionaire entrepreneurs, is opening an office in Switzerland. Former Credit Suisse Group AG banker Frederic Turrettini joins the firm as a partner to oversee its Geneva office, adding to existing locations in London, Monaco and Singapore, according to a statement. Azura also recruited Robert Agnew — a former managing director at Barclays Plc’s ...

Bloomberg Deutsche Bank AG will be unable to sponsor initial public offerings (IPOs) in Hong Kong as the German lender failed to replace the staff needed by regulators in one of the world’s biggest markets for share sales. The bank has hired replacements who will start in a matter of weeks and will be able to resume its sponsor roles ...

Bloomberg A bad bank in India that’s expected to launch this month may help reduce one of the world’s worst bad-loan piles but market participants say it’s a long path ahead. The new institution, which is set to start operations by the end of June, is likely to handle stressed debt worth $27 billion over time, according to a BloombergQuint ...

Bloomberg HSBC Holdings Plc has lost about a third of its debt capital markets team covering Chinese state-owned enterprises, a sign the bank is still struggling to win back favor in Beijing three years after becoming embroiled in geopolitical spats between China and the West. The departures in recent weeks include two managing directors, John Hai and Jiang Song, who ...

Bloomberg New Zealand’s central bank may end its quantitative easing bond purchases in coming months as it prepares to raise interest rates, according to the Bank of New Zealand. Financial markets are now pricing a better than 50% chance that the Reserve Bank will increase its official cash rate in November, BNZ strategist Nick Smyth wrote in a note to ...