Banking

Bloomberg Nigeria accused HSBC Holdings Plc of money laundering after an analyst working for the lender said that a second term for President Muhammadu Buhari may stall economic recovery in Africa’s biggest oil producer. “What killed Nigeria’s economy in the past was the unbridled looting of state resources by leaders, the type which was actively supported by HSBC,” presidential spokesman ...

Bloomberg European Central Bank Governing Council member Jozef Makuch said he might not finish his second term at the helm of Slovakia’s monetary authority to allow the appointment of his successor before 2020 general elections. Makuch said there is a chance that the ballot will have an inconclusive result and that’s “the only reason” why he would consider stepping down ...

Bloomberg New York sued the US over a decision to allow financial technology companies to apply for special national banking charters, saying the move is “lawless” and “ill-conceived” and will destabilise financial markets that are more effectively regulated by the state. Maria Vullo, superintendent of the state’s Department of Financial Services, filed the lawsuit against the Office of the Comptroller ...

Bloomberg The embattled Philippine peso needs a break and it may soon get one. More than 10 million overseas Filipinos are preparing to send record amounts of money home for the Christmas and New Year holidays — a period when remittances pick up — with analysts from MUFG Bank Ltd. and Standard Chartered Plc saying those funds will help ease ...

Bloomberg Tidjane Thiam is looking forward to things getting back to normal. In an interview with Swiss newspaper NZZ am Sonntag, the chief executive officer of Credit Suisse Group AG said the bank is now targeting “business as usual” after years of restructuring. “Over the past three years we worked day and night to deal with our legacy from the ...

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 ...