Banking

Bloomberg After amassing 109 billion pounds ($143 billion) in assets within the belly of Investec Plc, Hendrik du Toit can now plot his own course as the money manager he founded splits from the banking group. For Investec Chief Executive Officer Stephen Koseff it is a bittersweet moment. He’s preparing to leave the company next month after 40 years of ...

Bloomberg Billionaire Jack Ma’s Ant Financial has hired a senior banker from Deutsche Bank AG to join its investment team, according to people with knowledge of the matter. Wu Xiaopin, most recently Deutsche’s head of China equity capital markets, has joined Ant as a managing director, the people said, asking not to be identified because the information is private. Wu ...

Bloomberg Australia & New Zealand Banking Group Ltd. is being sued by the securities regulator over a controversial 2015 share sale which is already the subject of criminal-cartel charges. The Australian Securities & Investments Commission alleges the lender breached continuous disclosure responsibilities by not informing the market that the joint lead managers of the sale took up approximately 25.5 million ...

Bloomberg Patricia Moraes got lots of job offers after leaving JPMorgan Chase & Co. in January, but the only one she said “made my hands start to sweat” came from the billionaire families that run Magazine Luiza SA. Moraes said yes when the retail giant’s chairwoman, Luiza Helena Trajano, asked her to become one of the few women in Brazil ...

Bloomberg Analysts covering Danske Bank A/S see a 33 percent chance that Chief Executive Officer Thomas Borgen will continue in his role through 2018. That probability falls to 25 percent when the same analysts were asked how likely it is that Borgen, 54, will still be running Denmark’s biggest bank in 2019. The Bloomberg survey is based on responses from ...

Bloomberg Russian depositors who save in foreign currency can breathe a sigh of relief after central bank Governor Elvira Nabiullina said their money was safe, whatever new sanctions the US throws at state-owned banks. “We don’t see any kind of threat to foreign-currency deposits and we haven’t considered any kind of forced conversion,” Nabiullina said following the Bank of Russia’s ...

Bloomberg Supervisors need to keep a close eye on shadow banking and emerging market debt a decade on from the fall of Lehman Brothers, Bank of France Governor Francois Villeroy de Galhau said in a radio interview. As banks have pulled out of riskier businesses since the financial crisis, specialised investors have stepped in to swell the European Union’s shadow-banking ...

Bloomberg DBS Group Holdings Ltd. has poured cold water on the idea that private bankers can name their price when jumping ship in Asia’s booming wealth management business. “I don’t believe that every bank needs to join in this crazy rush for talent,” Tan Su Shan, head of consumer and wealth banking at Southeast Asia’s largest lender, said in a ...

Bloomberg From Washington to Rome, the world faces a gauntlet of political risks in the months ahead, and that could mean a looming headache for policy makers in China, according to CLSA Ltd. A fresh blast of market stress could push the Asian country’s currency past levels against the US dollar at which officials have previously been forced to intervene, ...

Bloomberg India’s rupee rallied the most in 1 1/2 years and stocks recovered after an official said the government may announce measures to support the currency after a planned review of the economy by Prime Minister Narendra Modi this weekend. The government is not ruling out an increase in interest rates, the official told reporters in New Delhi, asking not ...