Banking

Bloomberg Bank of Japan (BOJ) officials think lowering the negative interest rate, if they chose to do so in the coming months, wouldn’t backfire in financial markets because investors are aware of the possibility, according to people familiar with the matter. While most officials wouldn’t be drawn on when the BOJ might act, some of the officials see little need ...

Bloomberg Andre Esteves once joked that Banco BTG Pactual SA, the Latin American investment bank powerhouse he helped create, would one day become “better than Goldman” — a play on the firm’s name. Now, BTG is chasing Goldman Sachs Group Inc down another path, looking to build a digital retail bank for the masses. The firm, under the BTG Digital ...

Bloomberg Banks in Denmark have seen their aggregate profits sink this year, according to calculations by the industry’s main lobby group, which has repeatedly urged monetary policy makers to provide relief from long-term negative interest rates. Industry profits fell 20 percent in the first half of this year, Finans Danmark said. Denmark’s 17 biggest banks and mortgage lenders reported after-tax ...

Bloomberg The European Central Bank’s (ECB) latest round of easing sent a signal to institutional investors that their inflation hedges may be growing more pointless by the day. In the northernmost corner of the euro zone, a $51 billion pension fund says ECB President Mario Draghi isn’t giving his industry much hope that things will improve. “So far, the less ...

Bloomberg PJT Partners Inc has hired Bank of America Corp (BofA) dealmaker Antonin Baladi to build up its European technology, media and telecommunications (TMT) investment banking business, people familiar with the matter said. The London-based banker is joining PJT in a senior role, the people said, asking not to be identified because the information is private. Baladi, who was Bank ...

Bloomberg India’s biggest bank overhaul in decades to merge state-run lenders beset with bad loans and low capital hasn’t convinced investors to increase holdings of the shares. Fund managers including Aberdeen Standard Investments Ltd and JPMorgan Chase & Co are shying away from increasing their positions in government-owned lenders. As well as poor asset quality at the banks, they cited ...

Bloomberg A team of Bank of Montreal (BMO) commercial bankers have traded their suits and ties for Ford F-150 pickups to reach Canada’s remote regions and build up a part of their business that has yet to see a bad loan. Indigenous banking is one area Chief Executive Officer Darryl White targeted in June when he vowed increased support for ...

Bloomberg At the biggest bank in the richest Nordic economy, the head of wealth management is about to make life harder for his rivals by cutting fees yet again. DNB Asset Management, which oversees about 600 billion kroner ($67 billion) from Oslo, already lowered fees on several mutual funds back in February. That move gave the asset manager a bigger ...

Bloomberg When Christine Lagarde conducts a rethink of the European Central Bank’s policies and tools during her impending presidency, her new Austrian colleague will be keen to contribute. “I look forward to the strategic review,” Robert Holzmann, the governor of the Austrian central bank who began his role this month, said in an interview in Helsinki. “I’m a fan of ...

Bloomberg Japan’s long-suffering savers have put up with virtually zero interest for years, but at least their bank accounts have remained free. That may change as speculation for further monetary stimulus mounts. Lenders could begin imposing maintenance fees for retail deposit account holders if the Bank of Japan deepens negative interest rates from minus 0.1 percent, according to JPMorgan Chase ...