Banking

  Bloomberg South Africa’s banks are going on the offensive after being criticized by some politicians over their lending practices and records in addressing racial inequality. Attacks on the lenders have been led by President Jacob Zuma, who’s accused them of monopolizing the financial services industry, and questioned whether they colluded when closing accounts belonging to members of the wealthy ...

  Bloomberg China’s policy makers support opening financial markets for capital and investment to flow both in and out of the country, according to central bank Deputy Governor Pan Gongsheng. China will push ahead on oversight and enforce existing regulations on foreign exchange, Pan said in an interview Sunday with Bloomberg News and Caixin Magazine. Scrutiny of foreign companies transferring ...

  Bloomberg When global banking regulators met in secret in a London conference room to try to clinch a deal on capital rules, European industry lobbyists were nowhere in sight. They didn’t have to be. European Union officials at the meeting in December doubled down on their call to soften rules pushed by the U.S., concerned they would penalize the ...

  Bloomberg Top executives from the UK and US’s largest banks have set up a group to foster closer ties in financial services between the two countries after Britain leaves the European Union, according to two people familiar with the matter. TheCityUK, the industry lobby group, has created a steering committee led by managers at Barclays Plc and JPMorgan Chase ...

  Bloomberg Myanmar’s largest privately-owned bank by assets says it’s willing to sell a stake to a foreign lender, pending a change in the country’s law, as it gears up to expand its operations in one of Asia’s most under-banked nations. “In any emerging market, capital is important,” said Nang Kham Noung, an executive director of KBZ Bank. “For us, ...

  Bloomberg One of the Bank of England’s (BOE) most vocal dissenters is moving on, just as Brexit’s surprises make alternative views more valuable. Kristin Forbes is leaving at the end of June to return to MIT, depriving the nine-member Monetary Policy Committee of a voice that’s consistently pushed against consensus. The American, who some say could be a potential ...

  Bloomberg Goldman Sachs Group Inc. isn’t letting the biggest commodities rout in eight months shake its confidence in raw materials. The bank is sticking to its view that tightening supplies will lead to higher prices later this year, maintaining its positive outlook on the sector, according to a report dated March 12. Investors should go or stay long on ...

  Bloomberg HSBC Holdings Plc named insurance executive Mark Tucker to succeed Douglas Flint as chairman, enlisting an outsider to oversee Europe’s biggest bank as it overhauls management. Tucker, 59, chief executive officer of AIA Group Ltd. and former head of Prudential Plc, will take the post Oct. 1, the bank said in a statement on Monday. AIA Regional CEO ...

  Bloomberg HSBC Holdings Plc made insurance executive Mark Tucker the preferred candidate to be chairman, replacing Douglas Flint, according to two people familiar with the decision, as Europe’s largest bank takes the first step to overhaul its top management team. Tucker, 59, chief executive officer of AIA Group Ltd. and former head of Prudential Plc, is in discussions with ...

  Bloomberg The Bank of England’s (BOE) newly appointed deputy governor remains under pressure this week as she awaits a lawmaker report on her conduct. Parliament’s Treasury Committee is reviewing Charlotte Hogg’s position after she admitted she didn’t disclose that her brother works at Barclays, which the BOE regulates. The Sunday Times newspaper reported that some commercial bankers have said ...