Banking

Bloomberg The chief executive officer of Nordea Bank AB says his industry needs to rethink pretty much everything it’s doing to brace for the future. And that includes how much it’s paying bankers. The Nordic region’s biggest financial conglomerate is already in the process of cutting 6,000 jobs as part of a shift towards relying more on technology and less ...

Bloomberg A high-profile plan to prevent federal watchdogs from getting too cozy with banks they are supposed to police has been scrapped by President Donald Trump’s newest Wall Street regulator. For years, the Office of the Comptroller of the Currency intended to remove hundreds of examiners who work inside the offices of JPMorgan Chase & Co., Citigroup Inc. and other ...

Bloomberg Deutsche Bank AG’s investment unit said it plans to pay out most of its earnings to shareholders as it seeks to attract investors to a planned initial public offering next year. The asset manager will use its DWS German retail brand to sell its products globally and will be renamed to reflect that brand, the bank said on Tuesday. ...

Bloomberg The Reserve Bank of New Zealand’s new assumption that global inflation will stay lower for longer means it is more exposed to the risk of prices picking up, Acting Governor Grant Spencer said. “More recently we have been assuming greater persistence in low global inflation and this is contributing to our current flat track for future OCR levels,” Spencer ...

Bloomberg Wall Street banks including Barclays, Goldman Sachs and Bank of America could share in a fee bonanza of as much as $600 million, after pledging one of the biggest financing checks ever to help fund CVS’s $67.5 billion takeover of Aetna. The companies are set to shell out fees for M&A advisory, financing and also arranging a bond sale ...

Bloomberg Bank of America Corp. hired Deutsche Bank AG’s Sunil Khaitan to head its global capital markets business in India, according to a person with knowledge of the matter. Khaitan was a Hong Kong-based director on Deutsche Bank’s Asia equity syndicate team, the person said, asking not to be identified because the information is private. He is slated to start ...

Bloomberg Big European mortgage lenders in low-risk markets may be the hardest hit by new capital rules that global regulators are expected to complete this week after a year-long deadlock. Banks such as ABN Amro Group NV and Svenska Handelsbanken AB will be watching closely on Thursday when the leaders of the Basel Committee on Banking Supervision reveal the results ...

Bloomberg Bank of America Corp. has been debating proposals from Chief Operating Officer Tom Montag’s subordinates to rapidly build out a European trading hub in Paris, according to people with knowledge of the talks. Montag and some of the firm’s most senior leaders recently discussed whether to alter a tentative plan to send a few hundred employees to the French ...

Bloomberg A warning indicator for banking stress in China fell for a fifth-straight quarter, signaling that the leadership’s drive to squeeze risk from the financial system is making progress. China’s credit-to-gross domestic product “gap” declined to 18.9 percent in the second quarter from 22.1 percent in the first three months of this year, according to data released by the Bank ...

Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda gave the clearest signal yet that his recent comments about the “reversal rate” theory weren’t an indication of tighter monetary policy in the coming year. The BOJ’s yield-curve control program, partly intended to address the impact of monetary easing on Japanese banks, has been successful and hasn’t created any problems for financial ...