Banking

Bloomberg A little over two decades ago, Deutsche Bank AG set out to become a Wall Street giant. Its CEO Christian Sewing will probably pull the plug on that dream for good soon. Sewing is poised to unveil the biggest job cuts programme in the bank’s history, including a major retreat across its briefly held US empire, people familiar with ...

Bloomberg Within days of announcing he will step down, the chief executive officer of Nordea Bank Abp has revealed his thoughts on an activist investor that repeatedly slammed his firm. Casper von Koskull, who said that he plans to retire by late next year when he turns 60, acknowledged that the frequent public criticisms by shareholder Cevian Capital AB were ...

Bloomberg Large European banks need about 135 billion euros ($153 billion) to comply with the latest capital standards agreed to by the Basel Committee on Banking Supervision, according to a new estimate that raises the stakes for policy makers and the industry. Global regulators clinched a deal in 2017 on how banks must measure the risk of mortgages, loans and ...

Bloomberg Andrea Orcel has spent his career leading some of the world’s biggest investment banks. Now he may strike out on his own. Orcel is considering starting a boutique investment bank, one of a range of options that may force him to give up tens of millions in deferred pay from his former employer, UBS Group AG, according to people ...

Bloomberg Indian bond traders who were expecting the central bank to keep the cash spigot open may have to rework their calculations. The Reserve Bank of India was expected to hold a reverse repo auction of 250 billion rupees of 63-day duration on Wednesday, the first such move to use the tool for a longer duration to drain cash. It ...

Bloomberg Deutsche Bank AG is sounding out potential buyers for a wide range of unwanted assets as it lays the groundwork for its most dramatic overhaul in recent history, people with knowledge of the matter said. Germany’s largest lender is gauging interest for performing and soured loans as well as assets including equity-related securities and interest rate derivatives, the people ...

Bloomberg A banker who lost his job as part of Nomura Holdings Inc cuts recalls the camaraderie at the riverside Oyster Shed bar next to the institution’s London headquarters one evening as the room filled with ex-employees. Japan’s biggest brokerage let about 30 people go that day in April. Summer has arrived in London, but the smiles are likely to ...

Bloomberg European Central Bank (ECB) policy makers aren’t yet ready to rush into additional monetary stimulus at this month’s meeting, preferring instead to wait for more data on the economy, according to euro-area central-bank officials familiar with the matter. While Governing Council members agree that they could act on July 25 if the outlook deteriorates, they are currently leaning towards ...

Bloomberg Poland’s bank association has asked the government and industry regulators for help in case the European Union’s top court rules against the country’s lenders over foreign-currency mortgages, according to Puls Biznesu newspaper. The lobby’s initial estimate shows banks could face “huge” costs of at least 60 billion zloty ($16 billion), or about four years of industry profits, in a ...

Bloomberg Denmark is investigating whether banks besides Danske Bank A/S have recommended loss-making investment products to their clients. The country’s biggest lender fired one of its star executives after an internal review concluded that management was aware it was charging its retail customers too much for products that were likely to offer very low returns. The bank has pledged to ...