Banking

  Bloomberg David Findlay, chief executive officer of Nomura Holdings Inc.’s Americas business, received his full compensation for last year as investment bankers took deep cuts, causing frustration and anger across the struggling unit, people familiar with the matter said. Findlay, who has run the New York-based business since 2012, got a guaranteed $5 million package, while dealmakers and advisers ...

  AFP Customers at Deutsche Bank, Germany’s largest, will not be charged negative interest rates on their savings, a senior executive said on Wednesday. “That won’t happen with us,” private banking chief Christian Sewing told Bild daily. Banks across Europe are feeling the pinch of a -0.4 percent rate on their deposits with the European Central Bank (ECB). The ECB ...

  Bloomberg Mizuho Financial Group Inc. formed an alliance with Malayan Banking Bhd. on stock research and trading in Southeast Asia, as the Japanese lender complements an equities hiring push with partnerships. Maybank Kim Eng, the investment-banking arm of Malaysia’s largest bank, will provide Japanese institutional clients of Mizuho Securities Co. with research on companies in Southeast Asia as well ...

  Bloomberg Temasek Holdings Pte bought shares in ICICI Bank Ltd., India’s largest private-sector lender by assets, as the nation’s central bank pushes lenders to clean up bad debts that have weighed on earnings. The Singapore state-owned investor bought 2.55 million American depositary receipts of ICICI in the second quarter, worth $18 million at the end of June, according to ...

  STOCKHOLM / Bloomberg Svenska Handelsbanken AB removed its chief executive officer after less than 18 months and said the top role at the bank has become so complex that a traditional management profile was no longer adequate. Frank Vang-Jensen, a 48-year-old who was only appointed to the role of CEO in March last year, is being replaced by Anders ...

  Bloomberg China’s central bank urged investors not to focus too much on short-term concerns and said the diverging pace of credit expansion doesn’t mean monetary policy is losing steam. July credit growth slowing to a two-year low was a distortion and the reports for August and September will show it rebounding, the People’s Bank of China (PBC) said in ...

  London / Bloomberg Big investment banks with their European headquarters in London will start the process of moving jobs from the UK within weeks of the government triggering Brexit, a faster timeline than their public messages of patience would imply, according to people briefed on the plans being drawn up by four of the biggest firms. Dismayed by the ...

  Melbourne / Bloomberg National Australia Bank (NAB) Ltd.’s third-quarter profit fell 3 percent amid rising expenses for bad debts and provisions for mining and agricultural loans, rounding off the most challenging reporting season for the nation’s lenders in six years. Unaudited cash profit from continuing operations, which excludes one-time items, declined to A$1.6 billion ($1.2 billion) in the three ...

  Tokyo / Bloomberg The Bank of Japan’s controversial march to the top of shareholder rankings in the world’s third-largest equity market is picking up pace. Already a top-five owner of 81 companies in Japan’s Nikkei 225 Stock Average, the BOJ is on course to become the No. 1 shareholder in 55 of those firms by the end of next ...

  LONDON / AP The chief executive of Royal Bank of Scotland says the company will move its headquarters out of Scotland if the country votes for independence. RBS said before Scotland’s 2014 independence referendum that it would leave in the event of independence. CEO Ross McEwan says Britain’s June 23 vote to leave the European Union had not changed ...