Banking

  Bloomberg One of Hong Kong’s potentially most lucrative initial public offerings in recent years has bankers facing some difficult choices. Anbang Insurance Group Co., known for its aborted $14 billion attempt to buy Starwood Hotels & Resorts Worldwide Inc., has asked investment banks to pitch for roles on an IPO of its life insurance assets. While the recent dearth ...

  Bloomberg The world’s biggest banks are pressing UK Prime Minister Theresa May to strike an interim agreement with the European Union for financial companies before formal exit talks start, according to two people with knowledge of the matter. An interim agreement would seek to preserve passporting, the ability of banks to freely sell services and products across the EU, ...

  Bloomberg Sweden’s banks say their government is underestimating the damage that a new set of capital rules will do to the economy and public finances. The Swedish Bankers’ Association says a plan to curb the use of internal risk models to determine capital levels will cost as much as 365 billion kronor ($43 billion) in additional buffer requirements. Citing ...

  Bloomberg Before an elite financial and business audience, Italy’s prime minister and finance minister strove to project optimism that their drive to overhaul the country’s troubled banks will succeed. But a fellow guest from the European Central Bank damped expectations with a warning the market could have the last word. The restructuring of Banca Monte dei Paschi di Siena ...

  Bloomberg John Cryan is going back to the drawing board after Deutsche Bank AG lost more than half its market value since he unveiled his overhaul last year. The chief executive officer and his top managers will meet this weekend to assess progress on the reorganization, said a person familiar with the matter. Deutsche Bank held talks over a ...

  Bloomberg Istituto Centrale delle Banche Popolari Italiane (ICBPI) SpA, the Italian banking-services provider owned by private-equity firms, hired Bernardo Mingrone from UniCredit SpA as chief financial officer, according to people with knowledge of the matter. Mingrone will reorganize and develop ICBPI to prepare for a direct sale or a listing in the next three years, said one of the ...

  Bloomberg Deutsche Bank AG Chief Executive Officer John Cryan urged more consolidation among European banks struggling to shore up profitability, after his own firm held talks with its biggest German rival earlier in August about a possible deal. “We need more mergers, at a national level but also across national borders,” Cryan said at a conference hosted by Handelsblatt ...

  Bloomberg The British investment-banking industry is underpinned by entrenched elitism that blocks people from lower-income backgrounds winning jobs on the basis of ability, according to a report by a government advisory body. Recruiters seeking polished candidates who speak and dress a certain way often discriminate against applicants on the basis of details including shoe color and where they went ...

  Bloomberg Deutsche Bank AG extended gains in Frankfurt trading on a report Germany’s largest bank considered the sale of all or part of its asset management business as it explores strategic options to revive profit. While small parts of the asset management division could be sold, executives at the bank are keen to hold on to most of the ...

  Bloomberg Bank of China Ltd., the nation’s fourth-largest lender, reported a 3.4 percent increase in second-quarter profit even after setting aside extra provisions to boost its bad-loan buffer. Net income rose to 46.4 billion yuan ($6.9 billion) in the three months ended June 30, from 44.9 billion yuan a year earlier, according to figures derived from first-half numbers released ...