Banking

  Bloomberg Lloyd Blankfein, chief executive officer of Goldman Sachs Group Inc., has shied away from publicly backing a presidential candidate this year, saying his support could harm that person’s chances. Yet in an interview that will air on CNN’s “ Fareed Zakaria GPS,” Blankfein, asked if he personally supports and admires Democrat Hillary Clinton, said that he did. “I’m ...

  Bloomberg Banks in the UK will start relocating operations out of the country by year-end, months before formal talks to leave the European Union begin, as London looks set to lose access to the EU single market, the head of the British Bankers Association said in a newspaper commentary. International banks’ “hands are quivering over the relocate button,” Anthony ...

  Bloomberg Hong Kong’s stock market is suffering from a post-holiday hangover. The flood of Chinese money into the city before the mainland’s National Day celebrations in early October has slowed to a trickle since traders returned from the week-long break. Investors in Shanghai spent more than $8 billion on Hong Kong shares in September, the biggest monthly inflow through ...

  Bloomberg Australia & New Zealand Banking Group Ltd., Australia’s third-biggest bank by market value, is cutting about 30 jobs in its institutional banking unit. The affected positions are based in New York, London and Asia, and are mostly in customer relationship roles, ANZ Bank spokesman Stephen Ries said in an emailed statement. “We continue to reshape our network by ...

  Bloomberg Canada’s banks could see their costs rise by as much as 30 basis points under government proposals that would force them to take on a greater share of mortgage defaults, as policy makers seek to engineer a soft landing in the country’s housing market. The estimates, contained in consultation documents released by the country’s finance department, outline two ...

  Bloomberg Mitsubishi UFJ Financial Group Inc. is considering opening offices in Kenya and Morocco to boost its African business as Japanese companies seek natural resource and infrastructure-related opportunities on the continent, a person with knowledge of the matter said. Japan’s largest bank has begun studying the possibility of opening the offices in the countries and no decision has been ...

  Bloomberg Barclays Plc Chief Executive Officer Jes Staley cast a positive light on the progress he’s making in his turnaround program, as he reiterated his commitment to shedding lower-priority assets to bolster returns. The London-based bank’s core consumer and investment-banking businesses generated a return on tangible equity of about 11 percent as of June, higher than the roughly 10 ...

  Bloomberg MetLife Inc., the largest US life insurer, elected David Herzog, the former chief financial officer of American International Group Inc., to its board of directors. The addition brings the total number of directors to 13, with 12 being independent, the New York-based insurer said in a statement. Herzog is also a director for Ambac Financial Group Inc. and ...

  Bloomberg Credit Suisse Group AG is reorganizing its European investment banking and capital markets business and cutting some jobs, a move prompted in part by Britain’s decision to leave the European Union. The Zurich-based lender will cover large, global companies domiciled in the UK through industry teams, Marisa Drew and Mark Echlin, who lead the bank’s investment banking and ...

  Bloomberg African banks are sinking deeper into trouble. Drowning in bad debt and swamped by slowing economies, more and more of the continent’s lenders are starting to fail. The collapse of a Ugandan bank, said to be an acquisition target of Bob Diamond’s Atlas Mara Ltd., is adding to woes stalking the industry from Mozambique to Nigeria. High interest ...