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Lloyds to burn up $12mn on bank’s path to freedom

  Bloomberg An end to eight long years of government ownership is finally in sight for Lloyds Banking Group Plc, though it took another 10 million pounds ($12 million) on the way out, according to two people familiar with the matter. Britain’s largest mortgage lender filmed a black horse galloping on a beach, built several websites and prepared space for ...

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UBP ponders Asia deals after Coutts purchase

  Bloomberg Union Bancaire Privee, (UBP) the Swiss private bank that increased assets in Asia 10-fold through its purchase of Coutts International, is open to making additional acquisitions as consolidation among regional wealth managers accelerates. The Geneva-based bank is seeking to double assets under management in Asia and increase its number of relationship managers to about 100 from 60 currently, ...

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Citigroup revenue hits 35% in bond trading

  Bloomberg Citigroup Inc. posted third-quarter profit that beat analysts’ estimates as bond-trading revenue surged 35 percent from a year earlier, helped by interest-rate and currencies trading. The lender helped lead bank shares higher after reporting net income of $3.84 billion, or $1.24 a share, down 11 percent from a year earlier. That still beat the $1.15 average estimate for ...

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