Banking

  Bloomberg A talent war between Jefferies Group LLC and Credit Suisse Group AG is threatening to escalate. Five Credit Suisse bankers who reneged on agreements to join Jefferies this month may face demands that they pay more than $10 million to their scorned suitor, according to a person with knowledge of the matter. The bankers signed contracts with Jefferies ...

  Bloomberg German officials and lawmakers are concerned the state rescue of Banca Monte dei Paschi di Siena SpA is stretching the credibility of the European Union’s new regime for too-big-to-fail banks. Wolfgang Schaeuble’s Finance Ministry remains skeptical about Italy’s plan to protect individual investors and would prefer them to seek individual compensation through the courts rather than en masse ...

  Bloomberg UBS Group AG suffered a net 15.2 billion francs ($15.2 billion) in withdrawals during the final three months of last year, in part because investors moved money out of Switzerland before the government shares their data with tax authorities, a trend that’s expected to continue this year. The bank fell as much as 3.9 percent in Zurich trading, ...

  Bloomberg Barclays Plc has settled on Dublin for its main hub inside the European Union after Brexit and is planning to add about 150 staff there if UK-based finance companies lose easy access to the trading bloc, according to people with knowledge of the decision. The bank started scouting the city for office space this month and has been ...

  Emirates Business Arab Bank Group announced its 2016 results reporting a growth of 20% in net profits. Net operating income before provisions and taxes exceeded US$1.1 billion, whilst the Group’s net profit after tax reached $533 million for the year 2016 as compared to US $ 442 million for 2015. Excluding the effect of foreign currency devaluations, the Bank ...

Bloomberg After years of lagging behind London on spawning financial technology startups, Paris this week hosted a show of force aimed at proving the French capital can catch up as more than 1,500 bankers, investors and entrepreneurs gathered. The Paris Fintech Forum, which took place in the old bourse’s temple-like building, tripled its turnout from last year. With the UK’s ...

  Bloomberg Royal Bank of Scotland Group Plc rose the most in two months in London trading after the bank took a 3.1 billion-pound ($3.8 billion) charge in a step toward resolving a US probe into sales of mortgage securities. The lender is continuing to cooperate with the US Department of Justice (DOJ) on its investigation, though timing of a ...

  Bloomberg Commodities will be supported in the months ahead by a global rebound spanning the US, Europe and China that’s buttressing worldwide demand for raw materials, according to Goldman Sachs Group Inc. “We’re seeing a cyclical uptick in global economic activity and that’s driving demand, not only for oil but all commodities,” Jeffrey Currie, head of commodities research, said ...

  Bloomberg Credit Suisse Group AG is exploring options for expanding in Dublin, as the UK moves closer to exiting the European Union, according to two people familiar with the matter. The Irish capital is emerging as a favored location for the bank’s so-called back-office jobs, said one of the people, who asked not to be identified because a final ...

  Bloomberg Barclays Plc’s Asia-Pacific Chief Executive Officer Andy Jones is stepping down, according to a memo obtained by Bloomberg. Jaideep Khanna and Reid Marsh will replace Jones as co-heads for the region, the memo showed. Jones, who will return to the U.K. in the first half of this year, will take on a temporary role as vice chairman, according ...