Bloomberg Citigroup created a new team inside its trading division that will focus on working more closely with minority depository institutions and diverse broker dealers and asset managers. The firm’s new diverse financial institutions group team will be led by Harold Butler, a senior banker who spent 16 years covering the US Treasury Department and the Federal Reserve System …

  Bloomberg Thailand is preparing rules for the setting up of virtual banks, set to join peers including Singapore and Malaysia in promoting financial technology to spur competition and wider access to banking services. The Bank of Thailand (BOT) plans to issue guidelines for digital banks by June and may allow existing lender and new applicants to seek licenses, Assistant Governor …

  Bloomberg The rally in global stocks faltered following disappointing earnings from technology bellwethers and as traders await more clues on how quickly key central banks will tighten the monetary policy. US equity futures dropped, with contracts on the technology-heavy Nasdaq 100 losing 1.8%, after Facebook parent Meta Platforms Inc and streaming service Spotify Technology SA plunged in late trading …