Banking

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 ...

Bloomberg Zopa Ltd is planning to raise as much as 200 million pounds ($253 million) as the online lender works to satisfy regulatory requirements en-route to winning a UK banking license. The company is talking to private equity and sovereign wealth funds about the cash, which could come in the next several months, Chief Executive Officer Jaidev Janardana said in ...

Bloomberg The abrupt departure of a potential heir apparent at Credit Suisse Group AG marks a compelling twist in the power plays transfixing Zurich’s intimate private banking world. Iqbal Khan’s leaving as head of Credit Suisse’s international wealth-management unit confirmed persistent speculation that he’d been in talks with crosstown rivals including UBS Group AG and Julius Baer Ltd. The executive ...

Bloomberg Christian Sewing is preparing to undo over a decade of failed expansion at Deutsche Bank AG. The chief executive officer may slash headcount by more than a fifth — as many as 20,000 positions — in what’s shaping up to be the troubled lender’s biggest makeover in years, two people familiar with the matter said. Some of the heaviest ...

Bloomberg Singapore will issue as many as five new digital bank licenses to non-bank firms as the island nation seeks to strengthen competition in financial services, according to one of its top regulators. “We welcome firms with innovative value propositions to apply for the new digital bank licenses, even if they have not yet established a track record in banking,” ...

Bloomberg Riksbank Governor Stefan Ingves, who has likened the world’s major central banks to elephants, is likely to ignore the growing momentum for easing emanating from Frankfurt and Washington, for now. Ingves and his colleagues in Stockholm are seen keeping their benchmark rate unchanged at minus 0.25 percent as they meet this week. It’s a close call whether they will ...

Bloomberg Beset by years of a lackluster results, Nordea Bank Abp is switching out its chief executive officer to find new momentum in its search of top-line growth. The biggest Nordic bank announced that Casper von Koskull, 58, will retire by the end of next year, and could step aside even sooner as the search for a successor has started. ...