Banking

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 ...

Bloomberg The pound’s fortunes are being dictated by Brexit and recent optimism over a deal could lead to a more hawkish-sounding Bank of England driving the currency higher. Market bets on further BOE policy tightening have receded in recent weeks following August’s quarter-point interest-rate increase, with the next hike not fully priced in until the end of 2019. While this ...

Bloomberg Alantra Partners SA, a Spanish investment bank, has hired three bankers in Shanghai as Chinese companies increasingly turn to Europe for overseas mergers and acquisitions. Alantra has hired Richard Zhu to head the firm’s China M&A business as managing partner, according to a spokesman for the bank. Zhu, who has more than 15 years’ experience in finance, was previously ...

Bloomberg Russians with bank accounts in dollars may find they can only make withdrawals in other currencies if new sanctions proposed by US lawmakers take effect. “I am sure that all the clients of all banks should receive their money back; that’s the principal approach,” VTB Group Chief Executive Officer Andrey Kostin said. “How, in which currency, is a different ...

Bloomberg The German government is open to a merger between the country’s two biggest listed banks, a magazine report said. German Finance Minister Olaf Scholz “could envisage” a tie-up between Deutsche Bank AG and Commerzbank AG, Spiegel reported, without saying how it obtained the information. It said that Deutsche Bank CEO Christian Sewing and Commerzbank CEO Martin Zielke are also ...

Bloomberg Bank of Tanzania refuted social-media allegations about printing notes valued at 1.5 trillion shillings ($655.9 million) for the government’s use. “The central bank informs the public that the statement is incorrect and intends to affect the trust of citizens and international stakeholders on Tanzanian financial stability,” the central bank said in an emailed statement. The government’s overdraft at the ...

Bloomberg Bank of Montreal (BOM)’s chief executive officer says he doesn’t need to make another acquisition to meaningfully lift earnings from the US. “If we continue doing the things that we’re doing organically, I could see a third of the bank coming from US earnings,” Chief Executive Officer Darryl White, 47, said. “To get beyond that you’d have to resume ...