Bloomberg Deutsche Bank AG finalised a deal transferring its business with hedge fund clients to BNP Paribas SA as part of the German lender’s historic retreat from investment banking. About 1,000 Deutsche Bank employees will move to the French rival through 2021, according to people with knowledge of the matter. Ashley Wilson, one of two executives at the German bank …

Bloomberg South African banks are urging clients to use digital channels as the industry prepares for what could be its biggest strike since 1920. “Banks will be operating as usual on the day,” the Banking Association South Africa said. Lenders “are taking the necessary precautions to minimiwe disruption” related to the proposed protest action by the South African Society of …

Bloomberg After a decade of being regulators’ favourite target, the world’s biggest banks now pose less of a risk to the economy than before the financial crisis, according to the Bank for International Settlements (BIS) said in its latest quarterly review, which was released Sunday. At the same time, these banks became less critical to the overall financial system, it …